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Roll No. Total No. of Pages : 02

19681 Total
19681 No. of19681
Questions 19681
: 07 19681 19681 19681 19681 19681

B.Com (2011 & Onwards) (Sem.–2)

ADVANCED ACCOUNTING
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Subject Code : BCOP-201
Paper ID : [B1117]
Time : 3 Hrs. Max. Marks : 60
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INST RUCT ION TO CANDIDAT ES :

1. SECTION-A is COMPULSORY cons is ting of TEN questions carrying TWO marks
19681 19681
each. 19681 19681 19681 19681 19681 19681 19681
2. SECTION-B c ontains SIX questions ca rrying TEN mark s each a nd students hav e
to attempt any FOUR questions .

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Q1. Write briefly :

SECTION-A

o m
.r c
19681 19681 1. What is Del Credre19681
19681 Commission?19681 19681 19681 19681 19681

2. What is Capital Fund Account?

19681 19681
3. What is Short Working?
19681 19681

p e 19681 19681
4. How Goodwill is treated at the time of admission of a partner?
19681

o m 19681 19681

a
5. Distinguish between Fixed Capitals and Fluctuating Capitals.

p .r c
r
19681 19681 19681
6. What 19681 Joint Venture
is Memorandum 19681
Account? 19681 19681 19681 19681

b p
7. Distinguish between Statement of Affairs and Balance Sheet.
e
a
8. Mention Preferential Creditors under Insolvency Act.
19681 19681 19681 19681 19681 19681 19681 19681 19681

rp
9. Distinguish between Hire Purchase System and Installment System.
10. What is the order of Payments at the time of dissolution of Partnership Firm
19681 19681 according
19681 to section19681
48 b of Partnership
19681

SECTION-B
b
Act 1932?
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2. a) What are the differences between consignments and Joint Venture?
b) How a consignment is converted into Joint Venture?
19681 3.
19681 How statement
19681 of affairs and Deficiency
19681 19681Account is prepared
19681 at the 19681
time of insolvency?
19681 19681

4. What are the differences between Receipts and Payments account and Income and
Expenditure Account?
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1 | M-22008 (S3)-403

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19681 19681 19681 19681 19681 19681 19681 19681 19681

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5. Ram and Mohan were partners. At the time of dissolution their capitals were 50000 and
30000 respectively. Rs. 10000 were owed by Mohan to the firm, Rs. 20000 were owed by
19681 19681 firm to 19681
Ram and creditors
19681 were Rs.19681
15000. Assets realised Rs. 19681
19681 90000 excluding
19681Rs. 19681

10000 owed by Mohan. Creditors were settled at book value. In addition, one bill of Rs.
1000 under discount was dishonored and had to be taken up by the firm. Expenses of
dissolution Rs. 1200. Prepare Realisation A/c and Capital A/cs at the time of Dissolution.
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6. Following is the Balance Sheet of X, Y and Z. They shared 3: 3: 2.
Balance Sheet
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Liabilities Amt Assets Amt
Creditors 250000 Bank 50000
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General19681
Reserve 80000
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Bills Receivable
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60000
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Debtors 80000
Partner’s Loan A/c Less Provision 4000 76000
19681 19681 X 50000
19681 19681 19681 Stock 19681 19681 124000
19681 19681

Y 40000
Capital A/c
90000

o m
Fixed Assets
Advertisement Suspense
300000
16000

.r c
19681 19681 19681 19681 19681 19681 19681 19681 19681
X 100000
Y 60000

19681 19681
Z 50000
19681
210000
19681
630000

p e 19681
P & L A/c
19681

o
19681
m 4000
19681
630000 19681

a .r c
Y retired on following terms.

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p
a) Stock is to be depreciated by Rs. 12000.

r
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b) Provision for bad debts to be increased to Rs. 6000.

19681

e
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19681 19681 19681

Goodwill b
c) Fixed assets to be appreciated by 10%.
19681
of the firm is valued at Rs.19681
a
19681
80000. Prepare p
Revaluation19681 19681
A/c, Capital A/c and 19681

rp
Balance Sheet.
7. A Lime Mine of 400 acres of land is leased to Ashok on 1-10-2010 subject to royalty of
19681 19681 Re. 1 per tonne of lime19681
19681 dispatched. It 19681
b
was also agreed that the minimum
19681 19681 rent of Rs.

acre per annum will be charged upto the commencement of dispatches and thereafter
a minimum rent of Rs. 4 per acre per annum will be charged. Commencement of
dispatches began from 1-7-2011 as follows :
3 per
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19681 19681 19681 19681 19681 19681 19681 19681 19681

Year 2011 2012 2013
Dispatches In tons 1000 1500 2000
19681 19681 Prepare19681
Landlord Account
19681 and Short 19681
Working. Account
19681 assuming 19681
that each year’s short
19681 19681

workings was recoverable during the subsequent two years. Ashok closes his books on
31 st Dec. every year.
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2 | M-22008 (S3)-403

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