Assam University 2007 B.Com Corporate Accounts Management - Question Paper

B.Com. Examination, Nov./Dec. 2007

Corporate Accounts Management

Time:3 Hours
Max.Marks: 90


SECTION-A

ans any ten sub-questions. (10*2=20)

1. A) State the different kinds of underwriting.
B) Distinguish ranging from marked and unmarked forms.
C) Distinguish ranging from open(or pure) underwriting and firm underwriting.
D) provide the meaning of divisible profits.
E) What is capital redemption reserve?
F) State any 4 circumstances necessitating evaluation of goodwill.
G) What is super profit?
H) State any 2 factors to be considered for evaluation of shares.
I) How do you compute the value of shares under break-up value method/
J) Distinguish ranging from Profit and Loss a/c and Profit and Loss Appropriation Account.
K)How do you treat unclaimed dividend in the final accounts of company?
L) What is the maximum rate of managerial remuneration payable as per companies Act, 1956?



SECTION-B

Answe any 5 of the subsequent. every ques. carries 5 marks. (5*5=25)

2. Ashwin ltd., issued 50,000 equity shares of Rs. 100 every which were underwritten as follows:
A-20,000 Shares; B-15,000 shares
C-10,000 Shares and D-5,000 shares

The company received applications for 44,000 shares of which marked forms were as under:
A-24,000 shares; B-8,000shares
C- 6,000 shares; and D-3,000 shares

Determine the liability of every underwriter.

3. subsequent is the Balance Sheet of Bhoomika Ltd., as at 31-3-2007:

Liabilities Rs. Assets Rs.

Preference Share fixed assets 18,50,000
Rs 100 every Rs. 80 paid 8,00,000 Investments 7,00,000
Equity shares of Rs .100 stock and debtors 4,00,000
every fully paid 10,00,000 cash and bank 30,000
Reserve Fund 3,00,000 Preliminary expenses 20,000
P and L A/C 2,00,000
Share Premium 1,00,000
Current Liabilities 6,00,000
30,00,000

As on the date the preference shares are redeemed by making fresh problem of sufficient number of equity shares. Investments worth Rs.3,50,000 are sold at a loss of Rs.50,000.
You are needed to pass necessary journal entries.


4. The profits disclosed by Chaitra Ltd., for the past five years were as follows:

2002- Rs. 40,000 (including abnormal profit Rs.5,000)
2003- Rs. 50,000 (after charging abnormal loss Rs.10,000)
2004- Rs. 45,000 ( excluding Rs. 5,000 insurance premium)
2005- Rs.60,000
2006- Rs.80,000 (including profit on sale of building Rs. 20,000)
You are needed to calculater the value of goodwill at two years purchase of avg. profits


5.Following is the balance sheet of Nischal .., as at 31-3-2007
LIABILITIES Rs. ASSETS Rs
8,000 class ’A’ equality shares 4,00,000 Fixed assets 7,60,000
10,000 class ’B’ equity shares 3,00,000 Current assets 2,40,000

Earning:   Approval pending.