Seat Number

tiwl- 013
ITIIIIJ
A 3.2
Corporate Accounting & Costing
. (New) (June 2018) (72302)
P. Pages: 3
Time: Two Hours Max. Marks: 60

Instructions to Candidates:
1. Do not write anything on question paper except Seat No.
2. Graph or diagram should be drawn with the black ink pen being used
for writing paper or black HB pencil.
3. Students should note, no supplement will be provided:
4. Use of simple calculator is allowed.
5. Attempt any three questions from section -I & any two from section.-II.

SECTION-I

1. ABC Ltd. Issued 5000 10% debentures of < 100 each payable as below:- 12
On Application: < 40 .
On Allotment:- < 20
On first & final call:- < 40
Applications were received for 6000 debentures. Applicants for 500
debentures were sent letter of regret and money was returned. Allotment
was made proportionately to the remaining applicants. The excess
subscription was applied towards the allotment. All the money was duly
received. Pass necessary journal entries in the books of the company.

2. Yash co. Ltd. Was registered on 1st May 2015 to take over the business of 12
Atul Co. as a going concern from 1st January 2015. The total turnover for
the year ending on 31st December 2015 was < 10,00,000 devided into <
3,00,000 for the period upto 1st May 2015 & < 7,00,000 for the rest of the
period. Given below is the profit & loss account for the year ending 31st
December 2015.
Particulars Debit <. Particulars Credit <.
To rent 36,000 Bv aross profit 4,65,000
To insurance 9000
To electricitv 7200
To salaries 10,8000
To directors fees 9000
To auditors fees 4800
To commission 12,000
To advertisement 12,000

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To discount 10,500
To office expenses 22,500
To carriage 9000
To bank charges 4500
To preliminarv expenses 19,500
To bad debts 6000
To interest on loan 9000
To net profit 1,86,000
4,65,000 4,65,000
Prepare the statement showing profit prior & after in corporation.

3. From the following trial balance of the Sandesh Ltd. Prepare final account 12
as per companies Act 2013 (vertical form) for the year ended 31St March
2016.
Particulars Debit ~. Credit ~.
Opening stock 75,000
Purchases 2,45,000
Wages 50,000
Discount 7000 5000
Reserves 15,500
Creditors 17,500
Salaries 7500
Rent 4950
General expenses 17,050
Dividend paid 9000
Debtors 37,500
Share capital 1,00,000
Profit & loss Alc (01-04-2015) 15,030
Sales 3,50,000
Machinerv 29,000
Cash in hand 16,200
Bad debts 4830
5,03,030 5,03,030

Other information:-

a) Stock amounting to ~ 82,000 as on 31-03-2016.

b) Charge 10% depreciation on machinery.

c) Outstanding rent ~ 450

d) prepaid general expenses ~ 380

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4. From the following receipts & issues of material during month of January 12
2017. Prepare store led er accord in to last in first out method.
Date Particulars
01/01/2017 Received 500 units ~ 10
05/01/2017 Received 250 units ~ 11
08/01/2017 Issued 300 units
10/01/2017 Received 400 units er unit
13/01/2017 Issued 250 units
20/01/2017 Received 100 units er unit
28/01/2017 Issued 400 units

5. Calculate the earnings of Ganesh & Dinesh on the straight piece rate 12
basis & Taylor's differential piece rate system from the below given
information:-
Standard production:- 8 units per hour
Normal time rate:- ~ 4 per hour
Differentials to be applied:- 80% of piece rate for below standard
120% of piece rate for at or above
standard.
In a day of 9 hour Ganesh produced 54 units & Dinesh produced 75 units.

SECTION-II

6. Explain the meaning & objectives of international financial reporting 12

standards (IFRS) in detail.

7. Write down a detailed note on the concept of share & types of share. 12

8. Describe the procedure & documentation of purchasing of material. 12

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