Financial Accounting VI PDF

D
E4 9D BD 4EC CBD 943 387 E8F FA1 93C C07B

9 B 4 E A 9
49 DB D4E ECB BD9 9438 87E 8FA 193 3C0 07BF F80
DB D4 C D 43 7E 8F 19 C 7B 8 03
DB D4 EC BD 943 87E 8F A19 3C 07B F8 003 E49
E B 9 8 A 3 0 0 E D
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4 C D 3 7E F 1 9 C B 8 3 4 B 4
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EC BD 943 87 8F A1 3C 07B F8 003 E4 DB D4 EC BD
57863
4E B 94 8 E8 A 93 07 F 00 E 9D D E BD 94
D 7 1 4 C
EC CBD 943 387 E8F FA1 93C C07B BF8 8003 3E4 9DB BD4 4EC BD 943 387E
B 9 8 E 8 A 93 0 F 0 E 9 D D E B 9 8
CB D9 438 7E FA 19 C0 7B 80 03E 49D BD 4E CB D9 438 7E8 8FA NOTE:-
D 43 7E 8FA 19 3C 7B F80 03 49 B 4E CB D9 438 7E FA 19
C] NBFC
BD 94 87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 1 3C
3 E 9 B 9 B 9 A 9 0
D9 9438 87E 8FAA19 3C0 07B F80 003E E49 DBDD4E ECB D9 438 87E8 8FA 193 3C0 7BF
D
A] Advances
A] Schedule I
43 7E 8FA 19 3C 7B F80 03 49 B 4E CB D9 438 7E FA 19 C0 7B 80
A] Bank Loan
C] Schedule III
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
C] Either a or b
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
A] Co insurance
A] Urban Sector
A] Normal profit
FA 193 C0 B 80 3E 49D BD 4E CB 9 38 E8 FA 93 0 BF 800 3E 9D
C] Part insurance
C] Notional profit
19 C0 7B F80 03E 49 B 4E CB D9 438 7E8 FA 193 C0 7BF 80 3E 49D BD
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
07 F8 00 E4 D D EC BD 943 87 8F A1 3C 07B F8 03 E4 DB D4 EC
C] State Government
BF 00 3E 9D BD 4E B 94 87 E8 A1 93 07 F 00 E4 9D D EC BD
DURATION :- 2.30 HOURS
C] Unorganised Sector
A] Premium deficiency
80 3E 49D BD 4E CB D9 38 E8 FA 93 C0 BF 800 3E 9D BD 4E B 94
C] Reserve Bank of India

A] Reserve Bank of India
03 49 B 4 CB D9 43 7E FA 19 C0 7B 80 3E 49 B 4E CB D9 38
E4 D D EC D 43 87 8F 1 3C 7B F8 03 4 DB D4 C D 43 7E
C] Inter office adjustments

9D BD 4E BD 94 87 E8 A1 93C 07 F 00 E4 9D D EC BD 94 87 8F
A] Estimated rate of returns

BD 4E CB 94 38 E8 FA 93 07 BF 800 3E 9D BD 4E BD 94 387 E8 A1
C] Reasonable rate of returns

4E CB D94 38 7E8 FA 193 C07 BF 800 3E 49D BD 4E CBD 94 387 E8 FA1 93C
CB D9 38 7E FA 19 C0 B 80 3E 49D BD 4E CB 9 38 E8 FA 93 0
A] Banking Regulation Act 1949

2. Each question carry 15 marks.
D9 438 7E 8FA 19 3C0 7B F80 03E 49 BD 4E CB D9 438 7E8 FA 193 C0 7BF

43 7E 8FA 19 3C 7B F80 03 49 DB 4E CB D9 438 7E FA 19 C0 7B 80
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
4. Use of only simple calculator is allowed.
3. Working notes form part of your answer.
Page 1 of 5
1. All the questions are compulsory with internal options.
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
6. Most chit fund companies are non-banking financial company.
D] IRDA
8. Valuation of shares majorly refers to valuation of equity shares.
10. It is not mandatory to register limited liability partnership firms.
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
B] Public
Q.1. [B] FILL IN THE BLANKS WITH APPROPRIATE OPTIONS [ANY 7]
4. Every insurance company is governed by the Companies’ Act 1956.
BF8003E49DBD4ECBD94387E8FA193C07
B] Schedule II
D] Schedule IV
5. Non-banking financial company mostly cater to the _______________.
B] Rural Sector
B] Reinsurance
7. Super profit is the profit earned over and above the _______________.
D] Both A and C
D] Both A and B
B] Estimated profit
D] Bills of Exchange
B] Premium surplus
9. A Limited liability partnership cannot raise finance through _____________.

B] Inter Office loans
C] Speculative profit
D] None of the above

D] Reinsurance ceded
B] Central Government
B] Companies Act 1956

Paper / Subject Code: 44802 / Financial Accounting - VI
B] Normal rate of return

87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
Q.1. [A] STATE WHETHER THE FOLLOWING STATEMENTS ARE TRUE/FALSE [ANY 8]

1. Accounting for banking transactions involves double entry system of book keeping.

1. In case of a nationalised banks, capital is fully owned by the _____________________
4. When two or more insurance company share risk it is known as __________________

3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
6. Non-banking financial company are registered under ___________________________.

07 F8 00 E4 D D EC BD 943 87 8F A1 3C 07B F8 03 E4 DB D4 E
7. A business firm earning normal profits with least investment cannot comprise goodwill.
BF 00 3E 9D BD 4E B 94 87 E8 A1 93 07 F 00 E4 9D D EC
80 3E 49D BD 4E CB D9 38 E8 FA 93 C0 BF 800 3E 9D BD 4E
03 49 B 4 CB D9 43 7E FA 19 C0 7B 80 3E 49 B 4E CB
E4 D D EC D 43 87 8F 1 3C 7B F8 03 4 DB D4 C
3. In case of accounting for Insurance Company AS-3 for cash flow statement will be applicable.
9D BD 4E BD 94 87 E8 A1 93C 07 F 00 E4 9D D EC BD
BD 4E CB 94 38 E8 FA 93 07 BF 800 3E 9D BD 4E BD
5. Every non-banking financial company must have a minimum net own fund of rupees 200 lakhs.
4E CB D94 38 7E8 FA 193 C07 BF 800 3E 49D BD 4E CBD 9

CB D9 38 7E FA 19 C0 B 80 3E 49D BD 4E CB 9
D9 438 7E 8FA 19 3C0 7B F80 03E 49 BD 4E CB D9 43
2. _________refers to finance availed or provided by different branches of the same banking company.
43 7E 8FA 19 3C 7B F80 03 49 DB 4E CB D9 438

9. Limited liability partnership combines the advantage of a partnership firm and a joint stock company.
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43
2. Accounting for banking transactions requires tallying of trial balance of general ledger on a daily basis.
10. In the absence of LLP agreement the rights of partners are determined by _________ of LLP Act 2008.
TOTAL MARKS : 75 MARKS
[07 MARKS]
[08 MARKS]
8. For valuation of shares on the basis of profits an investor compares expected rate of return with _____.
E8 A 93 07 BF 00 E 9D D E BD 94 87
3. If sum of all associated insurance cost exceeds related reserves for unexpired risk it leads to _________.
FA 193 C0 B 80 3E 49D BD 4E CB 9 38
19 C0 7B F80 03E 49 B 4E CB D9 438 7E8
3C 7B F8 03 49 DB D4 C D 43 7E
07 F8 00 E4 D D EC BD 943 87 8F
BF 00 3E 9D BD 4E B 94 87 E8
80 3E 49D BD 4E CB D9 38 E8 FA
0 4 C D 4 7 F
D
9 B 4 E A 9
DB D4 C D 43 7E 8F 19 C 7B 8 03
DB D4 EC BD 943 87E 8F A19 3C 07B F8 003 E49
E B 9 8 A 3 0 0 E D
4 C D 3 7E F 1 9 C B 8 3 4 B 4
57863
4E B 94 8 E8 A 93 07 F 00 E 9D D E BD 94
D 7 1 4 C
Q.2. [B]
Q.2. [A]
B 9 8 E 8 A 93 0 F 0 E 9 D D E B 9 8
Furniture
CB D9 438 7E FA 19 C0 7B 80 03E 49D BD 4E CB D9 438 7E8 8FA
D
Term Loan
43 7E 8FA 19 3C 7B F80 03 49 B 4E CB D9 438 7E FA 19
Cash Credit
BD 94 87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 1 3C
3 E 9 B 9 B 9 A 9 0
ADJUSTMENTS
Cash in Hand
D
Bank Overdraft
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
Other Fixed assets

the relevant schedules.

3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
Cash deposited with RBI

DEBIT BALANCES
Cash deposited in other banks

Money at call and short notice
Investments-Government bonds
Investments-Approved Securities
Insurance
Law Charges

Auditor's Fees
Directors Fees
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
Other Expenses
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
Interest received
Postage & Telegram

3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
Printing & Stationary
Income on Investment
Interest on Borrowings
Payment to Employees
Rent, Taxes and Lighting
Depreciation on Property
Repairs and Maintenance
Advertisement & Publicity
Page 2 of 5
AMOUNT
10320
13200
30000
4200
9000
4680
3960
6900
4860
1680
300
Interest payable on Deposit
Profit / Loss carried forward

Interest on Balance with RBI
Profit on Sales of Investment

PARTICULARS
OR
Profit on exchange transaction
Commission, Exchange & Brokerage
st
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
Interest received on interbank deposit

Fully Paid]
1. Transfer 25% of current year net profit to statutory reserve.

3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
2. Transfer 10% of current year net profit to proposed dividend

SHARE CAPITAL
Fixed Deposit a/c
Statutory Reserve
Profit for the year
Deposits in saving a/c

Deposits in current a/c

Inter office adjustments

AMOUNT
150
1200
1110
2400
135
2100
135
300
225
2100
375
6600
105
705
3750
750
1500
60
15
45
60
30
ended 31st March 2018. Also prepare the corresponding schedules. [Rs.in Lakhs]

CREDIT BALANCES
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
Borrowings from other banks

E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
Last years profit carried forward

[1158 Equity Shares of Rs.10 each

3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
03 49 B 4 CB D9 43 7E FA 19 C0 7B 80 3E 49 B 4E CB
E4 D D EC D 43 87 8F 1 3C 7B F8 03 4 DB D4 C
D9 438 7E 8FA 19 3C0 7B F80 03E 49 BD 4E CB D9 43
From the following information of Progressive Bank limited prepare profit and loss account for the year
43 7E 8FA 19 3C 7B F80 03 49 DB 4E CB D9 438
AMOUNT
19200
23400
11580
5700
7020
7800
6600
7200
9000
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 [15 MARKS]
[15 MARKS]
Following is the trial balance of United Bank Limited as on 31 March 2018. Prepare the balance sheet and
E8 A 93 07 BF 00 E 9D D E BD 94 87
FA 193 C0 B 80 3E 49D BD 4E CB 9 38
19 C0 7B F80 03E 49 B 4E CB D9 438 7E8
3C 7B F8 03 49 DB D4 C D 43 7E
07 F8 00 E4 D D EC BD 943 87 8F
BF 00 3E 9D BD 4E B 94 87 E8
80 3E 49D BD 4E CB D9 38 E8 FA
0 4 C D 4 7 F
D
9 B 4 E A 9
DB D4 C D 43 7E 8F 19 C 7B 8 03
DB D4 EC BD 943 87E 8F A19 3C 07B F8 003 E49
E B 9 8 A 3 0 0 E D
C D 7 F 1 C 8 3 4 B 4
[I]
4 3 E 9 B
57863
4E B 94 8 E8 A 93 07 F 00 E 9D D E BD 94
D 7 1 4 C
Q.3. [A]
B 9 8 E 8 A 93 0 F 0 E 9 D D E B 9 8
Premises

BD 94 87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 1 3C
3 E 9 B 9 B 9 A 9 0
ADJUSTMENTS:
D
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
Sohan
Mohan
ADDITIONAL INFORMATION
Q.3. [B] SOLVE [I] AND [II]

Furniture
Bad Debts
Commission
Investments
Cash in Hand
Opening stock
Bank Overdraft
Bills Receivable
Land & Building

Office Expenses
2. Bill for collection is Rs. 30000.
Salaries & Wages

Purchases & Sales
TOTAL
CAPITAL ACCOUNT
Debtors & Creditors
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
FA 193 C0 B 80 3E 49D BD 4E CB 9 38 E8 FA 93 0 BF 800 3E 9D consideration the additional information :
PARTICULARS
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
4) Outstanding Salaries and Wages Rs.400.

6. Total number of Equity Shares were 10000.

Page 3 of 5
5. Acceptances & Endorsement were Rs. 20000
2. External Liabilities were valued at Rs.250000.

98700
5) Depreciation on Land and Building @ 7.5%.

OR
5. Preference Dividend were in arrears for 4 years.

3) Rs.225 written off as Bad Debts form Debtors.
4. Guarantee given on behalf of customer Rs. 50000
1. All the Tangible assets were revalued Rs.3500000.

1. Create 25% Statutory Reserve on current years profits.
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
1) Partners share their profits and Losses in the Ratio 3:2

E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
DEBIT

9600 Bills Payable
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
4. Preference shares were to be redeemed at premium of 20 %.

From the following information calculate the Intrinsic Value of Share.
3. 8% Preference shares worth Rs.700000 were to be redeemed.

3. Outstanding liability on forward exchange contract Rs. 80000.
1,12,600
6,000
1,500
4,000
4,300
5,000
4,600
2,11,000
25,000
20,000
10,000
17,500
80 3E 49D BD 4E CB D9 38 E8 FA 93 C0 BF 800 3E 9D BD 4E B 94 500
2) The closing Stock at cost Rs.20,000 and Market Price Rs.22,500
TRIAL BALANCE AS ON 31ST MARCH 2015
CREDIT
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
1,45,000
3,600
2,400
2,11,000
20,000
30,000
10,000

3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
03 49 B 4 CB D9 43 7E FA 19 C0 7B 80 3E 49 B 4E CB
E4 D D EC D 43 87 8F 1 3C 7B F8 03 4 DB D4 C
[07]
D9 438 7E 8FA 19 3C0 7B F80 03E 49 BD 4E CB D9 43
43 7E 8FA 19 3C 7B F80 03 49 DB 4E CB D9 438
98700
1200
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43
[15 MARKS]
E8 A 93 07 BF 00 E 9D D E BD 94 87
From the following Trial Balance of Mohan and Sohan you are required to prepare a trading and profit and
loss Account for the year ended 31st March 2015 and Balance sheet as on that date after taking into
FA 193 C0 B 80 3E 49D BD 4E CB 9 38
[15 MARKS]
19 C0 7B F80 03E 49 B 4E CB D9 438 7E8

3C 7B F8 03 49 DB D4 C D 43 7E
07 F8 00 E4 D D EC BD 943 87 8F
BF 00 3E 9D BD 4E B 94 87 E8
80 3E 49D BD 4E CB D9 38 E8 FA
0 4 C D 4 7 F
D
9 B 4 E A 9
DB D4 C D 43 7E 8F 19 C 7B 8 03
DB D4 EC BD 943 87E 8F A19 3C 07B F8 003 E49
E B 9 8 A 3 0 0 E D
4 C D 3 7E F 1 9 C B 8 3 4 B 4
[II]
Fire
57863
4E B 94 8 E8 A 93 07 F 00 E 9D D E BD 94
D 7 1 4 C
Q.4. [A]
E 9
Marine
B 9 8 8 A 93 0 F 0 E D D E B 9 8
Bad Debts :
BD 94 87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 1 3C
3 E 9 B 9 B 9 A 9 0
Depreciation
ADJUSTMENTS:
Auditors Fees
Directors Fees
D
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
Claims Paid (Fire)
Commission (Fire)
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
Fire Fund(31-3-13)
Share Transfer Fees
Claims Paid (Marine)

Commission (Marine)
[B] Super profit Method
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
Miscellaneous Income
Marine Fund (31-3-13)

PARTICULARS
[A] Future Maintainable Profit &
Additional Reserve on 1-4-13(Fire)

87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
6. All outside liabilities at Rs. 800000.

1. Profit for the past 5 years is as follows
3. Normal Rate of Return expected is 5%.

3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
Reinsurance ceded
Reinsurance accepted
RS
Profit /Loss Account for the year ended 2013-2014

2017
2015
Page 4 of 5
108000
350000
150000
920000
350000
45000
60000
90000
1800
700
5200
3000
9000
8000
REINSURANCE PREMIUM
4. Remuneration payable to partner is Rs. 10000.
5. All Tangible assets were valued at Rs. 1200000.
OR
AND
Fire
Marine
YEAR PROFIT
-50000
2016 100000
2014 150000
2013 200000
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
60000
Ceded :
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
2. Good will is considered at 3 years purchase of super profit

3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
Fire Premium
30000
Marine Premium
4. Common Expenses Rs. 30000 has to be charged to both departments.
Interest Dividend Rent
FIRE MARINE
55000
45000 650000
PARTICULARS

Difference in Exchange Rate
Profit on Sale of Investments
Management Expenses (Fire)

87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
Claims Outstanding Fire (1-4-13)

Management Expenses (Marine)
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
Commission Earned on reinsurance

Claims Outstanding Marine (1-4-13)
1. Reserve for Unexpired Risk for Fire 50% and Reserve for Unexpired Risk for Marine 100%
2. Additional Reserve for Fire 10% on Net Premium is to be provided on additional Reserve.
03 49 B 4 CB D9 43 7E FA 19 C0 7B 80 3E 49 B 4E CB
From the following information ascertain the value of goodwill on the basis of Capitalization of
E4 D D EC D 43 87 8F 1 3C 7B F8 03 4 DB D4 C
[08]
RS
D9 438 7E 8FA 19 3C0 7B F80 03E 49 BD 4E CB D9 43

43 7E 8FA 19 3C 7B F80 03 49 DB 4E CB D9 438
3. Outstanding Claims on 31-3-14 for Fire Rs.100000 Outstanding Claims on 31-3-14 for Marine Rs. 1300.
160000
700000
404000
1280000
40000
30000
50000
70000
50000
20000
900
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43
[15 MARKS]
E8 A 93 07 BF 00 E 9D D E BD 94 87
From the following Balance of Sunlife Insurance Company Ltd .Prepare the necessary Revenue Account and
FA 193 C0 B 80 3E 49D BD 4E CB 9 38
19 C0 7B F80 03E 49 B 4E CB D9 438 7E8
3C 7B F8 03 49 DB D4 C D 43 7E
07 F8 00 E4 D D EC BD 943 87 8F
BF 00 3E 9D BD 4E B 94 87 E8
80 3E 49D BD 4E CB D9 38 E8 FA
0 4 C D 4 7 F
D
9 B 4 E A 9
DB D4 C D 43 7E 8F 19 C 7B 8 03
DB D4 EC BD 943 87E 8F A19 3C 07B F8 003 E49
E B 9 8 A 3 0 0 E D
4 C D 3 7E F 1 9 C B 8 3 4 B 4
57863
4E B 94 8 E8 A 93 07 F 00 E 9D D E BD 94
D 7 1 4 C
Q.4. [B]
Q.5. [A]
B 9 8 E 8 A 93 0 F 0 E 9 D D E B 9 8
BD 94 87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 1 3C
3 E 9 B 9 B 9 A 9 0
ADJUSTMENTS
D
to claims.
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
3. Intrinsic Value of Shares.

4. Rebate on Bill Discounted.

2. Cash Reserve Ratio in Banks.

Claims Paid
Q.5. [B] WRITE SHORT NOTES [Any 3]

87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
1. Interoffice Adjustments of a Bank.

E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
5. Unexpired Risk Reserve in Insurance.

Premium Received
Additional Reserve
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
[ii] What are the types of General Insurance?

Interest Dividend Rent
2. Claims outstanding 31-3-2009 Rs. 100000.

Fire Fund as on 1-4-2008
Expenses of Management
Page 5 of 5
Profit on sale of investment
PARTICULARS
OR
[i] What are the factors affecting goodwill of a firm?

Commission on Direct Business
Claims outstanding on 1-4-2008
Premium on Reinsurance ceded
Commission on Reinsurance ceded

87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
Commission on Reinsurance Accepted

Department tin vertical form for the year ended 31st March 2009.

3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
____________________________
RS.
12,00,000
110000
660000
150000
250000
863000
5400000
1850000
3000000
50000
90000
95000

87 8F 1 3C 07 F8 03 E4 DB D4 C D 43 7E 8F 19 3C 7B F8 03
E8 A 93 07 BF 00 E 9D D E BD 94 87 8 A1 3C 07 F 00 E4
3C 7B F8 03 49 DB D4 C D 43 7E F 19 C 7B 80 03 49 B 4
03 49 B 4 CB D9 43 7E FA 19 C0 7B 80 3E 49 B 4E CB
E4 D D EC D 43 87 8F 1 3C 7B F8 03 4 DB D4 C
[07]
[08]
D9 438 7E 8FA 19 3C0 7B F80 03E 49 BD 4E CB D9 43
43 7E 8FA 19 3C 7B F80 03 49 DB 4E CB D9 438
87 8F 1 3C 07 F8 03 E4 DB D4 C D 43
[15 MARKS]
[15 MARKS]
[15 MARKS]
E8 A 93 07 BF 00 E 9D D E BD 94 87
1. Expenses of Management include Survey free of Rs. 62000 and Rs. 50000 in respectively in relation
From the following figures relating to New Life Insurance Company. Prepare Revenue Account for fire
FA 193 C0 B 80 3E 49D BD 4E CB 9 38
19 C0 7B F80 03E 49 B 4E CB D9 438 7E8
3C 7B F8 03 49 DB D4 C D 43 7E
07 F8 00 E4 D D EC BD 943 87 8F
BF 00 3E 9D BD 4E B 94 87 E8
80 3E 49D BD 4E CB D9 38 E8 FA
0 4 C D 4 7 F

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Financial Accounting VI PDF

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D

E4 9D BD 4EC CBD 943 387 E8F FA1 93C C07B

C] Reserve Bank of India

C] Inter office adjustments

A] Estimated rate of returns

C] Reasonable rate of returns

A] Banking Regulation Act 1949

D9 438 7E 8FA 19 3C0 7B F80 03E 49 BD 4E CB D9 438 7E8 FA 193 C0 7BF

19 C0 7B F80 03E 49 B 4E CB D9 438 7E8 FA 193 C0 7BF 80 3E 49D BD

10. It is not mandatory to register limited liability partnership firms.

9. A Limited liability partnership cannot raise finance through _____________.

D] None of the above

B] Companies Act 1956

B] Normal rate of return

FA 193 C0 B 80 3E 49D BD 4E CB 9 38 E8 FA 93 0 BF 800 3E 9D

19 C0 7B F80 03E 49 B 4E CB D9 438 7E8 FA 193 C0 7BF 80 3E 49D BD

4. When two or more insurance company share risk it is known as __________________

6. Non-banking financial company are registered under ___________________________.

4E CB D94 38 7E8 FA 193 C07 BF 800 3E 49D BD 4E CBD 9

43 7E 8FA 19 3C 7B F80 03 49 DB 4E CB D9 438

Other Fixed assets

the relevant schedules.

Cash deposited with RBI

Cash deposited in other banks

D9 438 7E 8FA 19 3C0 7B F80 03E 49 BD 4E CB D9 438 7E8 FA 193 C0 7BF

Postage & Telegram

Profit / Loss carried forward

Profit on Sales of Investment

Interest received on interbank deposit

1. Transfer 25% of current year net profit to statutory reserve.

2. Transfer 10% of current year net profit to proposed dividend

Fixed Deposit a/c

Deposits in saving a/c

Deposits in current a/c

Inter office adjustments

43 7E 8FA 19 3C 7B F80 03 49 DB 4E CB D9 438 7E FA 19 C0 7B 80

Borrowings from other banks

Last years profit carried forward

[1158 Equity Shares of Rs.10 each

43 7E 8FA 19 3C 7B F80 03 49 DB 4E CB D9 438

CB D9 438 7E FA 19 C0 7B 80 03E 49D BD 4E CB D9 438 7E8 8FA

Q.3. [B] SOLVE [I] AND [II]

Land & Building

Salaries & Wages

Purchases & Sales

4) Outstanding Salaries and Wages Rs.400.

6. Total number of Equity Shares were 10000.

2. External Liabilities were valued at Rs.250000.

5) Depreciation on Land and Building @ 7.5%.

5. Preference Dividend were in arrears for 4 years.

1. All the Tangible assets were revalued Rs.3500000.

1) Partners share their profits and Losses in the Ratio 3:2

19 C0 7B F80 03E 49 B 4E CB D9 438 7E8 FA 193 C0 7BF 80 3E 49D BD

4. Preference shares were to be redeemed at premium of 20 %.

From the following information calculate the Intrinsic Value of Share.

3. 8% Preference shares worth Rs.700000 were to be redeemed.

80 3E 49D BD 4E CB D9 38 E8 FA 93 C0 BF 800 3E 9D BD 4E B 94 500

2) The closing Stock at cost Rs.20,000 and Market Price Rs.22,500

19 C0 7B F80 03E 49 B 4E CB D9 438 7E8 FA 193 C0 7BF 80 3E 49D BD

19 C0 7B F80 03E 49 B 4E CB D9 438 7E8

Claims Paid (Fire)

Share Transfer Fees

Claims Paid (Marine)