Madras University (UnOM) 2007 B.C.A Computer Application Accounts - Question Paper

On 1st and Final Call Rs. three per share
Applications were received for 75,000 shares and pro-rata allotment was made as follows :
Applicants for 40,000 shares were allotted 30,000 shares on pro-rata basis.
Applicants for 35,000 shares were allotted 20,000 shares on pro-rata basis.
Ramu to whom 1,200 shares were allotted out of the group applying for 40,000 shares failed to pay the allotment money. His shares were forfeited immediately after allotment.
Shamu who had applied for 700 shares out of the group applying for 35,000 shares failed to pay the 1st and final call. His shares were also forfeited. Out of the forfeited shares 1,000 shares were re-issued @ Rs. eight per share fully paid up. The re-issued shares included all the forfeited shares of Shamu.
Pass necessary journal entries to record the above transactions. (Marks 12)

OR

The Balance Sheet of Seema Ltd. disclosed, the subsequent info on 1.1.1995:
15% Debentures Rs. 15,00,000
Debenture Redemption Fund Rs. 11,60,000
15% Debenture Redemption Fund Investment Rs. 11,60,000

The annual contribution to the Debenture Redemption Fund was Rs. 1,30,000 for the year 1995 and 1996. The debentures were redeemable on 31st December, 1996. On 31st December, 1996 the investments were sold for Rs. 13,80,000 and the debentures were redeemed.

Prepare Debenture Account, Debenture Redemption Fund Account and Debenture Redemption Fund Investment Account for the year 1995 and 1996.

Q10) provide any 3 points of distinction ranging from “Funds Flow Statement” and “Cash Flow Statement".

Q11) The subsequent is the position of the current assets and current liabilities of Z Ltd.:

1995
Rs. 1996
Rs.
Provision for Bad Debts.
Short term loan
Creditors
Bill Receivable 1,000
10,000
15,000
20,000 -
19,000
10,000
40,000

The company incurred a loss of Rs. 45,000 during the year. compute cash from operations.

Q12) How does ratio analysis become less effective due to price level changes? (Marks 4)

Q13) A Company has a loan of Rs. 20,00,000 as part of its Capital employed. The interest payable on the loan is 15% and the ROI of the company is 25%. The rate of income tax is 40%. What is the gain to the share-holder due to loan raised by the company? (Marks 5)

Q14) subsequent are the Balance Sheets of Radha Ltd. as on 31.12.1995 and 31.12.1996.

Liabilities
1995

Earning:   Approval pending.