Seat No.

N28-113
December-2014
B.Com., Sem.-t
CE101 A:Core
Financial Accounting-I

Time: 3 Hoursl [Max. Marks : 70

1. %rt, hr.t u.} U%rt tlz, ll2, 114 .lt, Uq"tBLlt[ -t+I-1ritt-t 'tJrrctr cttc[IALt) t]'
dL. 3l-3-2014-tt tiv ctuia,I .)dl{ t't+rd{ 3{. .i .tttl"i 'idtt \tLg il?U 'ft'} Xrot
*i l4

-t{I-)qi { hctsai-Aurl {
u$qtoI Vr[I.t & ]t$t-t 2,16,000

%rt 1,08,000 .iai 36,000

l.tr.t 9o,ooo *l-[qt t Rsq{ 36,000

u%rr *.i,
I

l.\
q4.000 2,52,000 I 66,600
I

uttt.rt u-ttltd 27,000 I fcrrfr?r 44,100

I

uls ds, t{t}sr.[l al't 72,900 I

Aeftqsl 36,000

l.+V.{-ft A}'t 44,100 I riss hes 11,700

I

Acrtta) 86,400 I n.t. utd (64rt) 36,000

4,82,400 4,82,400

uar l\ctal :
trfl-t U"] rtSt-t t]S ult qelst-ft eI{ ut+} c[ltl t]. heu.tt{t ?'tL uttql 6qqru :-

- 1,17,000 dld etti - 64,800

u?rq s,<tl

dld swl ' - 68,400 arlql s'<t} - 82,440

{27,000 h+td.t r+a[ qr) u.tt]td trQett, "ri"tt "r.I < 21.600utl..1s't'rtlr.tr'[I
t'l.l
otrcftet?ll .ru] elss't[ skl eQ 'tdqeft etL[+( q1s Aqt? ]il'
qetqI

N28-113 I P.T.O.

I
 il't lsd"ti titi ctr. 1-4-201: e{l "tt'te'[ e].+r q.L) rrrdl lar. .ti +pt[q-u cu. t-7-2013
.u tir rt.ttrrl urdl. cu.3l-3-2014 -u tir rltr errti..rd rtL).rIrrgtt qJai
-tItreft ,tu'l-tt ++r ]
u.I
lsut-t-fl .rer.tt'l tt).
(l) -tltletl q&at[-tr +Ftt{.iqrqr, -titrgtt r+U'[-tt U]r,{-r[ {qrer S?,r[[ tZ+ c.tr.r{
eg.
(2) '+d'tl ge "t?'[gl { 1,25,000 s.ft. ("}qiefl zox tIEs "tr'ldt e.ft ur.i -dtrett
,rJeltt tt*t.t-[I Gttre ,,tt'la'l. { :z,soo ec{I.)
(3) l'trqE ut qqlu) -[la] uqre) e.r[ ,
ltclt? T 1250 urriq qarq { 750
Erqi -tti { 25,ooo qule qarq < 5oo
Rol.q{ .rrrr ? 750 Ri+ar +"|. < 875
elthqae{l *'[ < 62s *ri3'[ qruie urerhE utql < 250
e)sref[ q? c4r?r ( 500 e,it'++r crlj t 2,500
1flcr6 trct orrsrGr( { 1250 r)ELCi-[ {qrer.t) -r+i t 250
utctS ril.€t cttstq( { looo
titrl
{qtrt"l our < 375 (.iqtn-I c{r"6 cu. 1-10-lg{r e}u U.ler eqi.)
(,t) rlsLerl d.r. 30-6-2013 -t r)r {.)er ear.

z. kqreft left)s t r00 -rI Uis ulqL r0,o0o dtlqfl e)t zox t\rtl.trr{l qsr? qrs"u.
'icrrdl scll :
i.q-tld rlte,'la -tlal Xre e**r u
t r1a urs iut t +o
z r)a urt t so (Diftrtq uled)
'iqr'L
r r)r usn skr itt t ts
4 rle ut"t?'l e,.tt nte) t ts
iq-tl'i tJtiqfl r1t qr) utulr) rutl, * ts1 zooo t!.rh rr)-t) qrglul
20,000
t$$f i6 *fl, rrrul 2,000 rst!.{a r}t ,u)-0 ,,usr,il urttl nriq* *ti *i
qu'ltt utvattl .t+ri urttetut q)tel trq.teft seqrqi r,u.{l, oiiei +ut ,,he o,,,rrni
trsrl e)triqt'L rrp{r r3e rt} ctl qcrr6s{I *rule sku qr,l qri c{lru.
stl tU* 'tdttt ,$r1tr riqt zoo tSsdIA rh q?, uts .rut,i r)tdLa t rzo eI"I
qtfl f tSrr ort"[ e.[I.
+oo d.rlt'[ u?@ E?-tta a[I {ct.r ,I-u uruBru? tltc) *iqt er.le r}t q? uEt
as{t ut',,t?'[ g,.t ott'[ tt+i -tg'I, *r{l .ltr t}t rtt gtqr{l qL"ri.
r,tt %H rlt tg'l uq[ r)r,, r)ta'r.a t so c1e turdl.l wri
.Iu+r, qrsl-u {t,
rlte,'[a { l2o e1"} tir,igr,l qqr.
iq-[I-1 qlqi fat[ ,,tr.r-tTq e"il.
uerqt

N28-ll3
 (A) +ttqad : atq 6iE ('tt.t "tfldl)
(B) ed ht\)s < to -ri .iE ,,i.rr zooo l0% -u qaLqq'[ qst? ltts?tL. tite'la r'**t
-il.i uqrei .i.ttdl.
attg utd (i
'i1t1 uLt
<2

usrq skti <4

dlti t tlecrl ett'[ < 2

70 tp,r.t-trt i.tttt deati gkri c{e'l qLga) -tr{I,.1 tlt
rit t..t lt.ttttl ut"tl,'}
tg'[ :s rlt < s -il E,ra ,1tt c*ttutd .tefli qe[? ltts"tl.
6rrtl+.t ,Ltfgcfl-tt uttrLl 'tt1 thrk[t u'I ttl{l otst? \tl'Sctt'[ uLq-iltt
et"rl.
(c) 1*-du a"tl : +ia tSt'+'rfl r1t

{%a u t4
.rsL fe.i ctt. 31-3-2014'tt ?i[ry CTLT {La{
tr?ct1 "fl.) :

*dI-L.ri [\ctsa-Asrl t
lt31.'t 30,000
z,zoo tStlqa rit
rlg' t to -i 22,000

sso Rs'lritte it. tlt 5.500 ,ia) 16,200

rls t to -ti
ttoo q+. tlt el.& { lo 8,800 rlELct'l 5,500

-ti ,i.tt ritt'la t s qeqrd

4.000
I o,*,* u-tLltct 22,000 L.trartl
I

Astiqsl 1.500
I r\t D,{I'+T 1,650

I au.,r,*i 4,000 ois [iles 5,500

i[rP{hE qq[ 2,750

I

I t.&q{t 1,500

65.450 65,450

iq-tlli ,,i.i Uat.tr i.rit 4o/o .tL tlrft,+.I utct se+r{ 'US1 r{. tiEteri < OOSO 't[
.I*t. erLrqLr ,,Is liler < qqo e& .I qL) rtrt1 'ri"+ptl -t.tL i:elt trr[[\s ErtA { l0
.t) ,i.tt oteLt rt[3?.1, d qiqtr c'rtqt6 P{.t1. 1S'[ utct t ttt*idqiz{l g[A{t 6BqA
q}'tu rlt at1) utqql'
r)rglesrl.l e? 2(61) rll r(,,IE) t1t .1si cttqrd
uLrr-tItt e"t} u.} .tg.{tg itt{{ q'ttqi.

P.T.O.
N28-113
 (A) ist-u t)t qt.t st.rt d.i iq-il trLtr-{I seq go.ft gl.L.ttt5uii "rctLqi. 7

i,t.tt.,l. Rs'l'Iutet i. rit q?d 3?ctl t.,i"i t tO't) ds

\:-/ ,.fta).{l qrlit,{Itr uttttlotgt?
(n)
r,).tt }aet tqt 6.tlt 1tl.sctt .i feLtql r,t"i d.rlt qgt?''tLS'tt'[I
"tLq'tlt{
er"tl. 7

(t) tox -ft Rs'tlqe i. rlt*p1 { 1,20,000

(2) tis'l,*iote itt-u t1t qeo [i,r'[I't*t toz
(3) 1t1.. x U. *ti Ut')A t{r3'[]ti
- m*[I-t.[lt'[ lU*ftrtrt 9,000
- -t.1. "ttql (rtL) 36,000
- tttltt.rt Ut.Ltq"d. 22,200
iq-ft .t.{L fla tO7, -tt .tat{ otgt? ltt3cLf qlti d.

4. {uar &,t-fi hlrr)s-tr .r).t] .tt. 3l-3-2014'tt tIry '[lt) u't1ui otLsl+ti srf[ : 14
a-
6qu, qr$lul ( rqr qdlui {
70,000 tttctl,tLtt lrt-l.tltct 7.500
ttt.tE{t}
otts'l. g..tt (6.r]t-tt) ?5 000 Rul.olt .{tA h[i{ 50,000
27.000 tlgrcri-ft r4tctg )3 750
t)ss-ds lileu
o6,rfl-t ,t*t-t 4,25,000 ttJt ert.tct'i 36,500

tulut.t-tl +aL 83,250 ulg ,,il* ti.3.[,rr-[l ei.t 63,500

uI. $s*ti tLutl 6,250 -t.1. "ttqi 13,750 I

2,87,500 eleLsril 60,000

ulrrt-,ial
+F[qt 80,000 t.ft qs1 22,500
4,74,250 i.qLsr 6,50,000
rlsLcr)
qaL +ilrnei 30,000 5% .{I (.[tti) slo]'ord 1,25,000
?? 500
ott-aqte q.{[ 10,000 ull.ts-a $s
1,37,500
+)ff-ft'l "t..f[ 6,250 1s1 ut-tLrt.t
etl.$ & gt{tt 50,000 qnr[i-t. ftt1 [itrfl.trt 41,250

rirr..[
I

ltcu.? 1,42,500
I
1 1,250
"ud
8,750 +tLltl..rt Ul.-tl.}td 2,25,004
s'tlsatl-tl t't
L.rtaLtI 1,65,000 1 s% ,1, i*. tltls'l 2,50,000

urer[\s qql 15,000 6BqA r)rr1s'[ 5,00,000

6erLt,s q(fl 88,000

Rul.ora qt ct-[Itil-tt tl3ter] 50,000

2,66,250
"rt'[dI
2215o,ooo 22,50,000

N28-113 4
 -+tt{{
-ttlur,)e.ttrtr.t'tlqrfgd['tiurqtltt'ttlu'31-3-'14'tl'tlttI?Luctl+d{-t'1'
a R;;t;L! (6c'tt *aqql) tqLt s?ctr't
,ud, .*r-1ro,n *,rilu[';;l C|il
d.
t]'
(t) dt. 31-3-20t+'tt r'[u +zIE t z':s'soo
L.rrtrt} ql 57o Ati T rettttt
t4'trqtt ?'tu'I'
(2)
(3) ucLr6d[ t1r{a rtL$ r 5'000 d' ,^,.,.,,r) cru' ^.^
(4)tFlqr'q?5%u[.rt.,t.I.ial.ttzx.,t.\t,[I,.t}tEt.tlt?+yo.tttLt\sL.i.
(5) ir{-it'tt Htttc{t? qtqqt { tz',so'ooo t}'
\? A"I R[.ts.s.[t
r\t1s1 \t? 7.5% A"I u.i 6t}qa
t)t,1s1 10Vo
(6) +,i..tragh,tr it.
eratqqt rt1 t!.
< 62,500 ed
q(tul'
(7) ],t-ttltd,
il"Lq.t.q "lr,I
(8) q.ht qu'[ Lq[ :

(
Getrts .tW1 - 6.250
qog.? - 7,500
EaitL - 3.750
utelctl 4
+h,rRa L'tr a'IaA{ ?A Gttstqt ;HDea *.q'?flql'
ue{{ J''ti r1t1 '{[iRt\e urt i'tra se\'
(A) 7
ttttL GoJ'riS
(B) tqso'ti iq'ft t%ot{ 3
(c) r,t.ttirrl'{E tteE.il a'iaa { I 6trsr'ct tllga ttqmql'
(tt'i tI trta) l4
,,tt,ie U"d't'[ +tfq\ 1lttLot t'ttt'L\ u-i r1t1 'tqr.t{l } +ttlttt ut'ti '
5.
(1) tlgs't[ e'.]-sqi 'lJtrc[l'ft ltgrtlt 1r+tt't-[
(a) (b)
1S'l +tlLtr-[l
(c) (d) utqid[ 116 'tt-s
"t't
?ttqe\'
g\,-t .t\ A .-.--.--.--- Gttre'ruql
(2) -titreft q&ci titlLrr,l 1s+u-r qLtl I

.ttt-1rur't ut,l o) utq't't{ u'trqa

(a) qtt
(c) 1S'l u'tt} a ur,l
(d) qtets'[

(3)hrteh)i<300.t}+Isul.lr6t}.1fltltlOO%rtth.tdq"g[?qLs"lL.+Iott{I
ultd[ ts"t ]aefL sql :
qL.[rRkL r,r?@ ur*I .i.u.linn *i.a' uiurq.'t
t1f&r
(a) t 1s (b) { 30
(c) ( 7s (d) t isO P.T.O.
5
N28-113
 (4) )otet 'A' t%q qt31 ektt ,tt iq-ft +E ti t1 cqrod c.[Ue Et'[ 1]
(a) 60/o (b) l8%
(c) t2% (cl) 5%

(5) til trz-r h. t too -il d.tr 1000 Rs'lliqe i.

ria tox lurllrt*re{l r+tct *r.rr
*tr) t so -ti d.rr tzoo tS.r)r to% [Irftr+qpi] qeLt \us?u. *{l
.t+rrti,il .ts1
rt?ct l,t.ttltA g..ft-[I tS*{ elfl.
"ttrl etj
(a) t s0.000 (b) { 44,000
(c) { 40,000 (d) T 34,000

(6) iq-ft tuer.{l saq 80 Xrtt Rs1*lora t.r'Lr qad qd r* -

(a) 6BqA rIt orert qrs't {qQe rs.r}ri.sil
(b) i.$t-u rit qert ,rLs'[ *iq{e tE*rtlei]
(c) .ttt t3+tt-t "ttrtL-{I odtt qfE'lrtiefl
(d) 6,{t Eu[{e sits.rsL tlrl *iur{a r*rrqieft

(7) d {qreL q? srarl t+r-i t? 20% s)q u-] .]a]e ue-[ qsd? < 2,00,000 s).r
aI ger dqrer -
(a) 4,00,000 (b) 2,50,000
(c) s0,000 (d) 2.40.000

(8) [I.ta Gqrr ?r+r]

ox R6l-c{t{t qt( l,8o,ooo

R,,t.q{ <tf .,trd 3"600
-t$t-tsut-t "trot}tl .qtr-[l s6 e*q att[.trti r
(a) { 3600 (b) < 7200
(c) ( 10,800 (d) { 1,800

(9) iq-ftr,l "rt'[]e lrreud ,.tt ,r+ut] -tiqrr).

(a) Ultq-tt UrttBtrtl 1$) .lqtet{t Ur11etr1[
(c) -rIqeft ,{s1 (d) +itreft qtai.

N28-113 6. 'I
I
I
ti
lt
 Seat No. :

N28-113
December'2014
B.Com., Sem.-I
C8 101 A:Core
Financial Accounting-I

Time: 3 Hoursl [Max' Marks :70

l. Jay, Vijay and Ajay are the pafiners sharing Profits and Losses in the
ratio of +t+ t
i
respectively. The firm was dissolved on 3l -3- 14. On that clate the Balauce Sheet was as
14
L, under:
Capital & Liabilities Assets t
Caoital Accounts Land & Buildings 2.16.000

Jay 1,08,000 Machinery 36,000

Vrjay 90.000 Fumiture & Fixtures 36,000

Ajay 54"000 2,52,000 Stock 66.600

27,000 Debtors 44.1 00

General Reserve

Loan of Bank of Baroda 72,900 Bills Receivable 36,000

Loan A/c. of Vijay 44,100 Cash Balance l I.700

Creditors 86,400 Profit & Loss Alc. 36.000

(Debi0

4,82,400 4,82,400

Other Details :
Balk of Baroda's loal is secured against Land & Buildin-e. The assets realized as under :

- 1,17,000 Second Instalment - 64,800

First Instahnent

Third Instalment - 68,400 Fourll1 Instalment - 82,440

A sum of t 27,000 was kept aside for clissolution expenses. The actual expellse was
t 21,600 and was paid off. Prepare statement showing Piecemeal distribution of cash
among partners as per surplus capital method'
OR

7 P'T'O'
N28-1r3
 Rajshree Ltd. was incorporated on 1-7-2A13 to takeover tunning business of Dev
Traders fiorn 1-4-2013. Calculate profit or loss during Pre and Post incorporatiou
period for the year ended on 31-3-2014.
.l
(1) Sales cluring pre incorporation periocl *as Tth of sales during post incotporation

period.
(2) Total purchases duritrg the year { i,25,000 (out of whiclt20o/o was cash purchase
and credit purchase during pre-incorporation period was { 37.500)
(3) Incomes and Expenses were as under :

Salary l25O Discount allowed 750

Gross profit 25,000 Discount earned 500

Interest on Debentures 750 Director's fees 875

Share transfer fee 625 Preliminary expenses written off 250

Intelest on Investment 500 Office rent 2,500

Caniage outward 1250 Profit on sale of investment 250

Car:riage inward I 000

Interest to vendors { 375 (Interest waspaid to vendors on l-10-2013)

(4) Investments were sold on 30'l'June,20l3.

Z. The Dipali Ltd. has issued 10,000 equity shares of t 100 each at a premium of 20020.

The amount called up per share was as under :

14

1 On Application { 40
2 On Allotment t 50 (including premium)
3 On FirstCall { 15
4 On Final Call ( 15
a--
Applications were received for 20.000 equity shares out wltich applications fbr
2000
.11-", were fully sanctionecl. Applications for 2000 shares were fully rejected ar-rd
prorata allotmept was made to remaining applicants. The additional antouttt received
on application was adjusted to share allotment account and calls-in-advance account.
Shri Brij had paid entire amount of { 120 per share at the time of application of
his
fully allotted 200 equitY shares.
Sl1i Vaibhav, who applied for 400 equity shares could not pay fir'st and final call on
his allotted shares. His shares were forfeited'
Half of the shares forfeited were re*issued to Jahnvi at t 80 per share and remaining
shares were re-issued to Priyanka at { 120 per share'
Pass necessary Journal entries in the books of the company'
OR

N28-113
 (a) Explain Buy Back.
(b) Harsh Ltd. issued 7,000 equity shares of T 10 each at a discbunt of 10%. The
amount was called up as follows :

On Application
OrrAllotment 2

On First call 4

On Second and Final call 2

Devansh who is allotted 70 shares failed to pay final call, which were forfeited.
Out of forfeited shares, 35 shares were re-issued at { 5 per shares as fully paid up.
Give Joumal Entries in the books of the company for forfeiture and re-issue.
(c) Write shorl note on Sweat Equity Shares

J.
a
The Balarice Sheet of Yash Ltd. as on 31-3-14 is as follows : t4
Liabilities { Assets {
2200 equity shares of Buildings 30,000
{ 10 each ?7 000 Machinery 16,200

I 550 redeemable preference Investment 5,500

shares of{ 10 each. 5 500 Debtors 4,000

of Bills Receivables
j

1 1 00 preference shares 1,500

{ 10 each and ( 8 paid 8,800 Bank Balance 5,500

Generai Reserve 22,000 Preliminary Expenses ) 750

Share Premium 1,650

?
Creditors 4,000
Bills Payable 1,500

65,450 65,450

Cornpany decided to redeem both types of preference shares at 4oA redemption

premium. Investments are sold for { 6,050. After tl-rat cornpany issued required no. of
pleference shares each of { 10 at par so that bank balance is maintained at { 990.
Existing Equity Shareholders are to be given i (one) fully paid new equity shares as
bonus for 2 (tlvo) shares held from the capital redemption reserve.
Write Journal Entries and prepare new Balance Sheet.
OR

N28-113 P.T.O.
 of section 80 of Companies Act for redeerliug pref'erence
(a) State provisions
shares.
company calculate the t-ie$ shares of
{ 10
(b) From the following infoflnation of a give Joumal
each to be issued for redernption
of redet'ouUit pref-' shares and also
Entries fbr issue of uew equity shares'
(l) 10% Recl. Pref. shares Capital { r.20.000
100h
(2) Reden,PtionPremiutn
(3) Balance Shown in Balance Sl-reet

o Securities Prerniurn { 9'000

o Profit and Loss A/c' (credit) { 36'000

o General Reserve < 22,200'

shares at l}oh discount'
Tlre company wants to issue new equity

of Narnrata Cq. lta.o'::l-:-ZOt+ I

t4
4. The toliowin balances were recorded
Debit Balance
Credit Balance
7 500
70.000 Reserve for Bad Debts
Income Tax
Calls-in-arrears (equitY
Debenture RedernPtion
Fund 50.000
25,000
shares) ?1 750
27.000 Incotne from lnvesttnent
Cash and Bank balance
Public DePosit 36.500
Land and Building 4,25.000
Loan tiom Bank of India 63.500
Operring Stock 83,2s0
Profit & Loss A/c. 1 3.750
Provident Fund contribution 6.250
Creditors 60.000
Plant & MachinerY 2,87,500
Bills PaYables 22.500
80,000
Fumiture
Sales 6.50.000
4,14,250
I Investtnents
Debenture (rnortgage) 1.25.000
Loose Tools 30,000 5%o

Provident Fund 32,500

10.000
Postage and Telegtarns
Capital Reserve 1.37,500
6,250
StationerY ExPeuses
Securities Prerniutr-t 41,250
50,000
Rent and Taxes
Share Forfeiture Aic. I1,250
Salary 1,42,500
General Reserve 2.25,000
8.750
Director's Fees
7 .5oh Pref . Share CaPital
2.50.000
Debtors 1,65,000
Equity Sliale CaPital 5.00,000
15,000
PreliminarY ExPenses
Productive Wages 88,000

Debetrtures RedemPtion 50.000

Fund Investments
I Purchases

10
N28-113
 You are required to prepare Protit & Loss Account and P and L Appropriatiol
A/c. tbr
the year ended on 3l-3-14 and the balance sheet (in vertical fonns)
op that date atier
taking into accoullt the fbllorving additional infbrmation :
(I) The Stock on 3 l-3- l4 was { 2,3g,500
(2) Provide 5olo reserve for bad debts or-r debtors.
(3) prepaid rent amounted to { 5,000.
(4) Provide clepreciation on Plant & Machine ry at 2o/o,on furnitur e at Syoancl on
Land & Building at 4o/o
(5) The authorized capital of-the company anrount to T 12,50,000.
(6) The directors of the cotnpally recomrneud ed 7.5% diviclend on preference
share
capital and 10% or-r equity share capital.
(7) Transf-er { 62.500 to General Reserve.

.
L
(8) Outstanding Expenses :

Productive Wages { 6,250

Salaries t 7.500
Rates and taxes { 3,750
OR
(a) What is Contingent Liabilities ? Explain it with illustratiop.
4
\ (b) Prepare a Balance Sheet in vertical fonn in accordance with
the Companies Act,
1956 rvith essential schedule.
7
(c) What is fictitious assets'? Explain it with illustratiorrs.
3

5' Select the corect answer of questions given belor.r,. Also give
necessary calculatiol or
explanation : (any seven) U
!- ( l) Under
-------------:- method of Piecemeal distribution of cash, paftners receive
maximum cash.
(a) Capital surplus (b) Maximum loss
(c) Both (d) None of these
(2) If there is a loss prior to incorporatio,, it will be clebited to
(a) Profit a,d Loss Account (b) General Reserve Account
(c) Account (d) coocrwill Account
capital Reserve

(3) Vir Ltd. issued equity shares of t 300 each at 100% premium. The rninimum
antount to be called per share on application as per SEBi guidelipes :

(a) t ls (b) r 30
(c) T7s (d) rls0
\28-113 ll P.T.O.
 (4) Themaximumrateofinterestreceivedbyacompanyoncall.irr-areafsaSpel
Table'A' :

(a) 6% (b) 18%

(c) 12% (d) s%

(s) TheRajanLtd'issuedl200equitysharesof{50atapremiunrofl0To.Inorder
preference shares of { 100 each at
premium of 10%'
to redeem 1000 Redeemable
Reserve A/c' will be
the amount to be transfened to Capital
(a) { 50,000 (b)
{ 44,000
(c) { 40,000 (d) { 34,000
(6) AspersectionS0oftheCornpaniesAct,Redeemabiepreferencesharescanbe
redeemed out of
(a) Amount received from issue of fresh equity shares
(b) Amount received fiom issue of preference shares
(c) Credit balance of Profit & Loss Account
(d) Amount received in any way of the above'
and cost of goods solcl is { 2'00'000'
(7) If the rate of gross profit on sales is ZOoh

then the total sales will be

(a) 4,00,000 (b) 2,50,000

(c) 50,000 (d) 2,40,000

(8) Particular Debit Credit

60Z Debentures Account 1'80'000

Debenture Interest Account 3'600

Which amount of interest is shown in Profit

& Loss Accoutlts ?

(a) { 3,600 (b)

< 7,200

(c) { 10,800 (d) { 1,800

purchased by company in
(9) Depreciation is calculated on the asset
(a) Time Ratio 0) Tumover Ratio
(c) Post incorporation period (d) Pre-incorporation
period

t2
N28-113