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    12 views12 pages

    2K16 Com 1

    Uploaded by

    NCD NAWADA

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    CS (MAIN) Exam;2016 M-ESC-U-CMA arfirsa a crarfaft / COMMERCE AND ACCOUNTANCY wea-ua I/ Paper I Pratita we: a we aa aie : 250 Time Allowed : Three Hours Maximum Marks : 250 wer-ua & fer faire agent ara weal esr re 39 a et Preah br srg oh earaetes OE: ge ora 04 8 a) at eroat # Pie & ar PRA ite tithe ww? & 1 eel a praia eat & ae 89 B 1 yer atoar 1 oft 5 oaPharé & cer art #2 ees are 8 ea an Te GAR Pe ah Tea ATE | yedas wer sien ofa srt ero ee & | eat & sae seh area HF fered ort amiee see snre waa F fr 8, okt 3a WENT aT BTS BBG WeT-aB-Te (FLAC) Ghar % ea-S H siltoa Pale ear ve Feren ar eTee | ayfiza aTeaT siheihees = Path area HS Tg SHR BIE OTe TT PHT 1 weal eq chon, el Fara @, a1 Seger Fra aT Tee | a sravre Bh, ah srger aiterst er era aif, ar aaa Pike fee | a oat A BUTTER BY ATC | AA BIT TET Bh, Th WT H HR FP Coe IE TE TR SAT: i ab 1 ewes fee Hare gr BMT Yo TH Fe BH AE BT B HICT TAT AT | Question Paper Specific Instructions Please read each of the following instructions carefully before attempting questions : There are EIGHT questions divided in TWO SECTIONS and printed both in HINDI and in ENGLISH. Candidate has to attempt FIVE questions in all. Questions no. 1 and 5 are compulsory and out of the remaining, any THREE are to be attemptec choosing at least ONE from each section. ‘The number of marks carried by a question / part is indicated against it. Answers must be written in the medium authorized in the Admission Certificate which must be stated clearly on the cover of this Question-cum-Answer (QCA) Booklet in the space provided. Nc marks will be given for answers wi itten in a medium other than the authorized one. Word limit in questions, wherener specified, should be adhered to. Assume suitable data, if considered necessary, and indicate the same clearly. Attempts of questions shall be counted in sequential order. Unless struck off, attempt of a questior shall be counted even if attempted partly. Any page or portion of the page left blank in th Question-cum-Answer Booklet must be clearly struck off. M-ESC-U-CMA f WsA SECTION A Ql. Prafetad Ha seks ar sat cH 150 wedi F AR : Answer the following in about 150 words each : (a) (b) © (@) (e) aqdan wa free ard } tera fea & delta edie carat asi & waeri At vat Aire | Discuss the provisions of Indian Accounting Standards regarding the accounting treatment of Research and Development costs. ard faa att amd apie cettat & ste fetter ise sik Aofaa a wre wat A care fh HT | Distinguish between the techniques of Cost Control and Cost Reduction and also explain their implications on decision-making. praftat & aariter Al fea ares fate At omen sifsre | Explain Pooling of Interest method of amalgamation of companies. aed ge aa Ha falta wAfeat era att J 2 ‘What are the various deductions made from Gross Total Income ? ‘Sura at 6 cemten after teenie & ait at ae feourest Ht ara sare & 1” fecavit sifsre | “Audit of divisible profits enables the stakeholders to judge the philosophy of majority shareholders.” Comment. amxa. fe. 4 = 10 wf See = 2 Mian % 20,000 Bea & fae andar ania at ee Um fear-after ord Ai, ot fet ver @ aa 2: ara z2 oe = 5 (siifrrm afea) yen ai 7 =3 feta wat sift ain ae z2 30,000 ent & fee onder set ee ait St a 24,000 Sea H ondeat ar Wang arses cat eat en | sTaeat a wed anftraa UAT ar order UP Bq, seat ax fear ret | Gem, fra 400 sat anafea faq ae A, onder UT aT TAA AMT a TAT | 10x5=50 10 10 10 10 10 TGA eT Hie aT epee Aare TaN a Se ee ST SOT eae era -t —$— M-ESC-UV-CMA 2 al, i 600 Sadi At are of, Sf Gin se pal A sranel wal, ara: Sas Beat at Ge ATT Ss ag LOT aK FAT TAT | = eer foe me Bei FQ goo Mae Maa we 9 vfs Vat yeh wea ga Pei ot feu, fre Gear & ash sax efter 8 | arma. fa. ft gecat 3 savas set sfafeeat ifs | RS Ltd. issued a prospectus inviting applications for 20,000 shares of = 10 each at a premium of € 2 per share payable as under : On Application T2 On Allotment = 5 (including premium) On First call r3 On Sevond aud Final call 2 Applications were received for 30,000 shares and pro-rata allotment was made on the applications for 24,000 shares. Excess money paid on applications was utilised towards allotment money. Kherwa, to whom 400 shares were allotted, failed to pay the allotment money. On her subsequent failure to pay the first call, her shares were forfeited. Suri, the holder of 600 shares, failed to pay the two calls, and her shares were forfeited after the second call. Out of these forfeited shares, 800 shares were reissued to Gopal, credited as fully paid for 9 per share, the whole of Kherwa’s shares being included. Pass the necessary Journal entries in the books of RS Ltd. 20 (>) 2 faRtnin aroha 4, fra dere Rawr Pefefed 8, fois fea fe <8 fercifara ap fren Te : reer wert a1 a2 eaat Se (% FH) 90 60 fasht (= ara 4) 540 300 uRadasfter arma (= crt #) 396 225 f8x ama (= areal #) 80 50 ant fe seata spratfead feat en @, afters Afar : @ Bete daa A deren oh Gi sa sae H ama seat | Gi) 80% errat saatT Ue faerie dar FY eTTbAT | (ii) & 75 ore ar OTH ails Het & fore fereifara cera ar fehl strat | M-ESC-U-CMA =} Qs. (©) Two manufacturing companies, which have the following operating details, decided to merge : Company Company No. 1 No. 2 Capacity Utilization (in %) 90 60 Sales (© lakhs) 540 300 Variable Cost (= lakhs) 396 (225 Fixed Cost (© lakhs) 80 50 Assuming that the proposal is implemented, calculate : 15 (i) Break-even sales of the merged plant and the capacity utilization at that stage. (ii) Profitability of the merged plant at 80% capacity utilization. (iii) Sales turnover of the merged plant to earn a profit of 75 lakhs. “ocfuittht 4 tac arf areal at at 1 ga ae @ afew GER A arRTT wf para Hea 1” ga Hera Ht care Aifsee | “An assessee not only pays tax on his own incomes but also on others’ incomes.” Explain this statement. 15 we art & amd Geren st wad, 2016 } sake ht Aefefed ear art ft 7g oft: (2) sahera are ferexor : = 1,400 fret (2) safer arn feraxr : = 1,000 sft (3) wat, 2016 ase awe ; 1,200 ae (4) wradl, 2016 % ave saftera : = 6,000 ) sokerat ft arate age a amy Ht ag : = 8 vfs aver watt, 2016 % fae ferfatas wort eg sah Geren ifs : @ saher wal far Gi) aTedfes sahera arta arg Gii) aTeafers Seater & fore ateaferss ave Gy) sahoar arrct feraer (v) safters arise act (i) areas Sealer eh fee AT Te M-ESC-U-CMA 4 ‘The Cost Accountant of a company was given the following information regarding the overheads for February, 2016 : (1) Overhead cost variance : © 1,400 adverse (2) Overhead volume variance : & 1,000 adverse (8) Budgeted hours for February, 2016 : 1,200 hours (4) Budgeted overheads for February, 2016 : = 6,000 (5) Actual rate of recovery of overheads : ¢ 8 per hour You are required to assist him in computing the following for February, 2016 : 20 () Overhead expenditure variance (ii) Actual overheads incurred (ii) Actual hours for actual production (iv) Overhead capacity variance (v) Overhead efficiency variance (vi) Standard hours for actual production () 80 6 agian ae 2 (asia) & agen, an ve aay fires weaker & warre Petter # enftret wet feper rat z | State four items which are not to be included in determining the cost of inventories in accordance with Paragraph 6 of Accounting Standards 2 (Revised). 15 (fet & wes Acarard anes A ang Aifeat & fee as tar we am welt fren, fad fren & fara taco eit et ced aha @g Yon ver | fegh a ga teat dea 3 arent se at & ferq sah eral oft carter & fee Faw fern, fret cr uefa we arg Sifsat a Hor ter | falter eri Al saith wt fatta tact dred at Ast wg aft & fee, darian aq area tae ARu | uRfa & fee Wi sia face fg acngu, fs ora aterfea wey cafes dearatien arise & eri At wiftcat we ferceor
    ) we fa. a ag fr. A oan Ft aa En Ft Sifter 8 sik seh a APT ait ani at an fr vega fear men 2 R xfa. z seat 6,00,000 em a 6,00,000 afta art 90,000 Bey : STS = 90,000 yfa. As 3,00,000 2,50,000 5,50,000 90,000 22,000 68,000 art arahal At sae & are sad Soh A arma, ae aera we sft ita {hh A ama a shwer Hifse, ae ard ge fe ser a sre ae Ht eX 35% SE crsie fae HK 20% after we eae | M-ESC-U-CMA 9 X Ltd. and Y Ltd, have the same level of business risk and their market values and earnings are summarised below : . X Ltd. Y Ltd. Particulars = z Equity 6,00,000 3,00,000 Debt i 2,50,000 6,00,000 5,50,000 Earnings 90,000 90,000. Less : Interest at 22,000 90,000 68,000 Caleulate the post-tax cost of equity, cost of debt and weighted average cost of capital of both the companies. Assume that the income-tax rate on the company is 35% and the additional tax on dividend distribution is 20%. 15 ( 1991 ag Fevfefan dat 4 fare ge weap gant aI feiag : @ afer a Gi) matics ua fedas eis aT Gii) aver fercfter arse Write the important reforms that have taken place in the following sectors after 1991 : 15 @) Banking Sector (ii) Primary and Secondary Stock Market (iii) External Financial Market M-ESC-U-CMA 70 Qi. (@) wrang. fa. us get asia (sit aorafera at ng 2), ar ofeeooa ax ag afi wT are @ | eet A gach Rega sta & are wea vena Ha A ar ae fear | eat aise A arma, sores wa yatgaha Rac orm fira-fta | dai Taft a1 agafta vier 5 af 8 | vied ad & sia A otafie yea yer Al aT orem | aint Prefafiad fram fee mar 2 : qalanita a & arg debs vate weft jaa} afi | ate | ats | ata | ais a 2) - 5 20 14 6 a 40 | 10 14 16 17 8 sort ot Yoh oe cmd 16% @ | am eat seal ar edie Eh wt a, Prafafad or sat aed ee, ere aifie : @ agra sat @) faa ata yet Gi) Tegra Fa Gv) Sreafte sferret = XY Ltd. wants to install a new machine in place of an existing old one which has become obsolete. The company made extensive enquiries and from the proposals received, short-listed two offers. The two models differ in cost, output and anticipated net revenue. The estimated life of both the machines is five years. There will be only negligible salvage value at the end of the fifth year. Further details are as follows ; Anticipated after-tax cash flow Machine | Cost | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 A 25 = 5 20 14 6 B 40 10 14 16 17 8 The company’s cost of capital is 16%. You are required to make an appraisal of the two offers and advise the firm by using the following : Gi) Payback Period Gi) Net Present Value ii) Profitability Index (iv) Internal Rate of Return M-ESC-U-CMA 7 20 (>) ft fa. Al ada fast = 20,00,0008 | Hr 2/10, Ue 30 at ters wer fe ar Fe Bg Sts sar 2 | gad vRoae, eh ar stad aah aT 10 fea a BA att 80% fas 3 tens set Al Gael SA SY aTAeT z | cafe aren Al vera a Pas weit a 20% art @, at see gra gen ag ar Aer at ary fen sia afar 2 Shree Ltd. has current sales of 20,00,000. The company is planning to introduce a cash discount policy of 2/10, net 30. As a result, the company expects the average collection period to go down by 10 days and 80% of the sales to opt for the cash discount facility. If the company’s required return on investment in receivables is 20%, should it introduce the new discount policy ? 15 (fateh dearra Faerest den ered) Shieh & fart &q Sa gra sore TE fafha saat ar after

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