ihttp:/"www-esjmuontine.com Roll No. BBA-305(N) 8B. B. A. (Third Semester) EXAMINATION, Dec., 2019 (New Course) Peper Fifth COMPANY ACCOUNTS Time : Three Hours | Note Yost, : The candidates are required to answer only serial order. If there are many pans of question, nse them in continuation. Section—A. (Short Answer Type Questions) Note : Answer all questions, Each question carries 3 marks. 1. (A) Whats pro rata allotment of shaves ? (B) Distinguish between under-subseription and over subscription, (©) Give the legal provision for the redemstion of preference shares. (D) What do you mean by Contingent Liability 2 (E) Differentiate between Divisible Profit and Net Prof (©-49)P.1.0. Ihup:1/www.esjmuontine.com jonuafio: ay 2d « ay o ‘http://www.csimuonline.com @ BaA-305(N) a the a of statement of a time ofa liquidating company. Distinguish between extemal reconstruction and ‘tema reconstruction A Li, forted 50 shes of € 100 cach ase at 40% premim be paid at the tine. of lloimen) om which shares Git ell of 30 was seine, the fina cai o €20 pe shares not Yet called 20 0! these shares were Subsequently Cisse at € 70 per share a € 80 paid. Pass journal ens. company is holding company at S company ‘subsidiary company. The” goods casing 20,000 is included inthe sinck ofS company which has been purchased from H compen. 1 company sold the goods at prt of 10% on selling price. Cavite uneaised profit and give weaimen A liquidator of © compeny is ented to a remuneration on 3% om asst realized and 2% on mount disint@ to umsceued credit other than prefereneé erditors. The assets relented 20000 (cost price 2,25,000) | ‘Legal Expenses 1.000 Debenture 420,000 Preference Creditor Unsecured Creditor (Calculate amount of remuneration. Ihup:/twww esjmuontine.com ‘oo auyjuonuafio: matey dyihttp://www-esjmuontine.com (31 BBA-305(N) Section —B (Long Answer Type Questions) Note :Attempt any fre questions. Each question caries 10 marhs ethods of redemption of 2. Deseribe the various Axbentres and jour erties in deta with suitabe Mustration 6s . 3. What do you mean by Amalgamation,? Explain the ‘agjous methods of amalgatbation. Pass the journal in the books of both panies. _ 7 7 Tid. sed TOODD equiy shares of € 10 each at ‘2 premium of € Sper Share payable as follows (On Applications a On Allotment r6 3on first cal and balance on final cll ‘Applications were received of 18000 shares, 3000 shares wee refed, Go fled to py the allotment and Ist call money forthe 40 shares alloted to him and these shares were for ited after 1st call, Jay failed {opay both calls in respect of 120 shares alloted to him tnd these shares were forfeited aller 2nd call. After forfeiture these shares were reissued to Gauray at 11 Bet share. Pass the journal entries, (c-49) Ihup:!/www.esjmuontine.com ‘oo auyjuonuafio: matey dy |http://www-esjmuontine.com 141 BBA-s0500) 5. On the recomtrction of 8 company, the following terms were agreed upon @ The shareholders 10 recelve in ew of their holding viz. 50000 shares of £10 cach, the followin (Fully paid ordinary shares equal t9 25th of theie following. 1) $% preference shares fully pai of 1/Sth ofthe above new ordinary shares (Gi) 60000, 6% second debentures. () An issue of % $0,000; 5% first debentures was made and allotted, payment for the same having been received in cash" up /ww esjmuonline.com (©) The goodwill, which stood at € 3,00,000 was writen down to® 1,50,000. (@) The plant and machinery which stood 1,00,000 was written down to 2 75,000. (©) Freehold premises which stood at % 1,50.000 were written down to ¥1,25,000, Pass the journal entries in the books of company. ‘Section to the extent {Long Answer Type Questions) Attempt any fo questions. Each question carries 10 marks, 6. Bans Limited with paid up share capital of 1,00,000 ‘ivided into » 10000 equity sheres of € 10 each, went (c-69) hup://wuw.esjmmnontinecom ‘©‘http://www-esjmuontine.com 151 BEA-205(m) fino voluntary liquidation on 31st Mach, 2019, Liquidator realized the assets as follows z | and and Building ‘30,000 | Plant and Machinery 40,000 Furniture . 10,000 Stock 15,000 Debtors 5,000 Its liabitites were as under Secured Creditors Secured on laid and buildings 20,000 8% debentures 25.000] | Preferential Creditors 8,000 Unsecured Creditors 23,000 Liquidators remuneration was agreed at 3¥6 on assets realized and 29% on the amount distributed among Lunsecired creditors. Expenses of liquidation amounted © 1,580 and the debentures were repaid on 300 September, 2019, Prepare the Liquidstors Final Statement of Account. H.Ltd. acquired 12000 shares & 10 each in $ Ltd. On 1st April, 2015 at a cost of & 1,70,000: The Balance ‘Sheet of two companies as a 31st March, 2016 were a5 ‘ahead up://wurw esjmmmontine bie” © ‘oo auyjuonuafio: matey dy |http:/"www-esjmuontine.com BBA-205(N) Equity and Wabi {snare capital & 10eachy | 10,0,000) 200,000 [Reserves and Surplus : lGeneral Reserves 420,000} 1,00,000 ki-2015) [surement of P& 1 90,000] 40,010) ka-s.2015) | Jot of the year(31-3-2016)| 170,000] 45,00) Icurrent Liabilities : sundry Creditors 240.00] 92,000) fins Payable 30.000) 60:00) Taal 7090:000) 537.600 400,000) 1,00,000 $.00,000|1,00,000 2,00,000) 3,00,000] 70,00) 2,00,000| 3.00 20000] 30, 20.000} 12,000 60,000] 50,000 | 90m Ihup:!/www esjmuontine.com ‘oo auyjuonuafio: matey dy‘http://www-esjmuontine.com 7 BBA-305(N) ‘Out of the debiors and Bill Receivable H L1é. € 50.000 an © 16.009 respectively represented those duc from S Li, The st0ok in the hands of § Lid. Includes goods purchased from H Lid. at % 20,000 which includes profit charged by company at 25% on cost Prepare Consolidated Balance Mention the various provisions of Companies Act for preparation of statement of Profit & Loss Account and alapee Sheet What is Debentures ? Explain briefly the different Kinds of debentures. Give five points of differences ‘between shares and debentures. upewww.esjmuontine.com ‘Whatsapp @ 9300930012 ‘Send your old paper & get 10 re geet ed Ah ae 10 we Paytm or Google Par 2 Ihup:!/www esjmuontine.com ‘oo auyjuonuafio: matey dy