III Sem B.com - Corporate Accounting I - Question Paper 2012

III Semester B.com. Examination, Oct / Nov 2012
(Fresh) (Semester Scheme) (2012-13 and onwards)
COMMERCE
3.5 : Corporate Accounting - I

Time : 3 Hours                                                                                                    Max. Marks : 100

Instruction : Answer either in English or Kannada.

SECTION - A

Answer any eight of the following questions. Each correct answer carries two marks. (8x2=16)

1. a) What is firm underwriting ?
b) How do you treat unmarked applications in partial underwriting ?
c) State the factors that affect the value of goodwill.
d) How do you calculate intrinsic value of shares.
e) State the kinds of preference shares.
f) Give the journal entries for transfer of divisible profits to Capital Redemption Reserve Account.
g) What is the fair value per share ?
h) Mention the different methods of valuation of goodwill.
i) What is Profit and Loss Appropriation A/c ?
j) State under what headings the following items will appear in the Balance sheet of a company :
    i) Loose Tools
    ii) Calls-in-arrears

SECTION - B

Answer any three of the following questions. Each correct answer carries eight marks. (3x8=24)

2. XYZ Co. Ltd issued 50,000 shares of Rs. 10 each. These shares were under written as follows:

    A=25,000 Shares and B=15,000 Shares. The public applied for 40,000 Shares, which included marked application as follows :
    A=12,000 Shares and B=8,000 Shares

Prepare a statement of underwriters liability.

3. A company had 5,000, 8% Redeemable preference shares of Rs. 100 each fully paid. These shares were due for redemption on 31st march, 20122 at a premium of 10%. To carry out the redemption , the company issued 12,500 equity shares of Rs. 10 each at a premium of 10%. The company had a balance of Rs.25,000 in securities premium account and Rs.4,80,000 in profit and loss account.

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