Financial Accounting V PDF

2 B D
76 6A2 B47 782 2920 07B F7 DD 8EB B4C C52

B D
6A A2B 478 829 9207 7BF F7D D8 8EB 4C 52C C28
2 47 2 20 B 7D D EB 4C 52 2 C2
2B B47 829 9207 7BF F7D D8 8EB 4C 52C C28 8C2 817
8 5 8
B4 478 292 207B BF7 7DD D8E EB4 4C5 2C2 28C C28 176 6A2
7 2 0 D 8 B C 2 8 2 1 A B
47 829 920 7BF F7D D8 EB 4C 52C C28 C2 817 76A 2B 478
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29
82 920 7B F7 DD 8EB 4C 52 C2 8C2 81 76A 2B 47 829 20
D 8 7
29 9207 7BF F7D D8 8EB 4C 52C C28 C28 817 76A 2B4 478 8292 207 BF
20 B 7D D8 EB 4C 52 28 C2 17 6A 2B 78 29 07 BF 7D
20 7B F7D D8 EB 4C 52 C28 C2 817 6A 2B 478 29 207 BF 7D D8
F C
57269
07 7BF 7D D8E EB4 4C5 52C 28C C28 8176 6A2 2B4 4782 292 207B BF7 7DD D8E EB4
BF 7D D8 B C 2C 28 2 17 A B 78 92 07 F D 8E B4 C5
BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 292 07 BF 7D D8E B4 C5 2C
7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07 BF 7D D8 B C5 2C 28C
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF 7D D8 EB 4C5 2C 28 28
EB 4C 52 28 C2 817 6A 2B 478 29 207 BF 7D D8 EB 4C 2C 28 C2 17
4C 52 C28 C2 81 6A 2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 817 6A
52 C2 C2 81 76A 2B 47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
resolution.
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
d) 2months
c) 6months
b) 3months
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
a) 12months
2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 292 07 BF 7D
47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07 BF 7D D8
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92 7B F7 DD 8E B4 5
BF 7D D8 B C 2C 28 2 17 A B 78 92 07 F D 8E B4 C5 2C
a) Secured creditor
d) None of the above

d) Unsecured creditor
c) Preferential creditor
a) Accounting Standard 1
d Accounting Standard 11
actual payment_________
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
c) Accounting Standard 14
b) Accounting Standard 13
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
a) If the company is solvent

a) No company is liquidated
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
(2 ½ Hours)
b) If the company is insolvent

6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
b) Asset not specifically pledged

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
3. Internal Reconstruction____________

a) The issue price of shares underwritten
c) Two or more companies are liquidated

6. Marked applications refer to ___________

b) Only one company goes into liquidation

C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
d) One or more companies go into liquidation
b) The face value of shares actually purchased
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
c) Whether the company is solvent or insolvent
C28C28176A2B47829207BF7DD8EB4C52
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
4. Amount of calls in advance is treated as _______
c) The face value of shares not purchased by him
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
a) Applications bearing the stamp of the underwriters

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
Paper / Subject Code: 44801 / Financial Accounting - V
2. Accounting for amalgamation is governed by__________.

1. The underwriter is entitled to claim remuneration on________.

52 C2 C2 81 76A 2B 47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 4
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47
5. Interest on debenture and unsecured loan is payable up to the date of
1. (A) Rewrite sentence after selecting correct alternative (Any Eight) 8
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78
b) Applications carrying the signature of public who applied for shares
7. Buyback must be completed within______ from the date of passing the

2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 2
Total Marks: 75
c) Applications carrying the stamp of company which offered the shares

47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 2
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92
TURN OVER
BF 7D D8 B C 2C 28 2 17 A B 78 92 07
7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF
EB 4C 52 28 C2 817 6A 2B 478 29 207 BF
4C 52 C28 C2 81 6A 2B 47 29 207 BF 7
52 C2 C2 81 76A 2B 47 829 20 BF 7D
C2 8C 81 76 2 47 82 20 7B 7D
8C 28 76 A2 B4 82 920 7B F7 D
2 17 A B 78 9 7 F D
2 B D
76 6A2 B47 782 2920 07B F7 DD 8EB B4C C52
B D
6A A2B 478 829 9207 7BF F7D D8 8EB 4C 52C C28
2 47 2 20 B 7D D EB 4C 52 2 C2
2B B47 829 9207 7BF F7D D8 8EB 4C 52C C28 8C2 817
8 5 8
7 2 0 D 8 B C 2 8 2 1 A B
47 829 920 7BF F7D D8 EB 4C 52C C28 C2 817 76A 2B 478
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29
82 920 7B F7 DD 8EB 4C 52 C2 8C2 81 76A 2B 47 829 20
D 8 7
20 B 7D D8 EB 4C 52 28 C2 17 6A 2B 78 29 07 BF 7D
F C
57269
BF 7D D8 B C 2C 28 2 17 A B 78 92 07 F D 8E B4 C5
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
formation.
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
companies.
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
c) Tribunal
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
c) Machinery
reduction account.
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
a) Loose Tools
a) Shareholders
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
31-3-2018 were as under:

d) All of the above
date of actual payment.

b) Bills Receivables
c) Writing off losses


d) Share issue expenses

b) Articles of Association
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
purchase consideration is________
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
2

C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8. Local taxes are an example of secured creditors.

8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
C28C28176A2B47829207BF7DD8EB4C52
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
authorization/approval is required from_________
a) Issue of fully paid bonus shares to the members
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
10.For capital reduction under internal reconstruction,
b) Issue of partly paid bonus shares to the members

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
1.B) State whether given statements are True or False (Any 7)
7. Marked applications are also known as direct applications.

1. A company is allowed to convert fully paid shares into stock.

9. Capital Redemption Reserve can be utilized only for________

52 C2 C2 81 76A 2B 47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2
3. Buyback of security is governed by section 68 of Companies Act.
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B
5. Equity shares can be bought back out of fresh issue of shares only.
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 4
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47
7
4. Cancellation of contingent liability is treated as profit to the company.
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4
10. If the company is insolvent, interest on debentures is payable up to the

9. In the case of amalgamation there are two or more liquidations and one
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78
2.The balance in security premium account cannot be transferred to capital
8. The asset which is not taken under the Net assets method of calculating
2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 2
(15)
47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29
6. Underwriting may be done by individuals, partnership firms or joint stock
2. A Ltd. and B Ltd. were carrying on the business of manufacturing of auto
00,000 Equity shares of Rs.10 each. The Balance Sheet of the companies as on
components. Both the companies decided to amalgamate and a new company
AB Ltd. is formed with an Authorised Capital of Rs.10, 00,000 divided into 1,
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 2
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92
BF 7D D8 B C 2C 28 2 17 A B 78 92 07
TURN OVER
7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF
EB 4C 52 28 C2 817 6A 2B 478 29 207 BF
4C 52 C28 C2 81 6A 2B 47 29 207 BF 7
52 C2 C2 81 76A 2B 47 829 20 BF 7D
C2 8C 81 76 2 47 82 20 7B 7D
8C 28 76 A2 B4 82 920 7B F7 D
2 17 A B 78 9 7 F D
2 B D
76 6A2 B47 782 2920 07B F7 DD 8EB B4C C52
B D
6A A2B 478 829 9207 7BF F7D D8 8EB 4C 52C C28
2 47 2 20 B 7D D EB 4C 52 2 C2
2B B47 829 9207 7BF F7D D8 8EB 4C 52C C28 8C2 817
8 5 8
7 2 0 D 8 B C 2 8 2 1 A B
47 829 920 7BF F7D D8 EB 4C 52C C28 C2 817 76A 2B 478
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29
82 920 7B F7 DD 8EB 4C 52 C2 8C2 81 76A 2B 47 829 20
D 8 7
20 B 7D D8 EB 4C 52 28 C2 17 6A 2B 78 29 07 BF 7D
F C
57269
BF 7D D8 B C 2C 28 2 17 A B 78 92 07 F D 8E B4 C5
Total
Total
Building
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
Particulars
II. ASSETS
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
Fixed Assets
a. Share Capital
a. Inventories
Trade payables
c. Cash at Bank
2.Current Assets
General Reserve
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
3.Current Liabilities
Profit and Loss A/c.
Plant and Machinery

Furniture and Fixture
b. Trade Receivables
1.Non-Current Assets
1.Shareholders Funds

b. Reserves and Surplus
8% Secured Debentures
2.Non-Current Liabilities
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
I.EQUITY AND LIABILITIES
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
3
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
C28C28176A2B47829207BF7DD8EB4C52
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
Balance Sheet as at 31-3-2018

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
(Rs.)
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
2. Furniture and Fixture of B Ltd was valued at Rs.35,000.

A Ltd
book value with the exception of some items detailed below:

---
30,000
44,000
25,000
54,000
30,000
________
3,34,000
1,35,000
1,00,000
3,34,000
_______
1,10,000
1,40,000
------------
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF 7D D8 EB 4C5 2C 28 28 -----
52 C2 C2 81 76A 2B 47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 4
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78
(Rs.)
The assets and liabilities of the existing companies are to be transferred at

B Ltd
1. Goodwill of A Ltd. was worth Rs.50,000 and B Ltd worth Rs.1,50,000.

2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 2
47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29
TURN OVER
1,42,000,
58,000
50,000
25,000
80,000
35,000
5,45,000
_______
1,90,000
5,45,000
_______
1,40,000
1,20,000
2,50,000
__
-----------
------------- ------------
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 2
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92
BF 7D D8 B C 2C 28 2 17 A B 78 92 07
7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF
EB 4C 52 28 C2 817 6A 2B 478 29 207 BF
4C 52 C28 C2 81 6A 2B 47 29 207 BF 7
52 C2 C2 81 76A 2B 47 829 20 BF 7D
C2 8C 81 76 2 47 82 20 7B 7D
8C 28 76 A2 B4 82 920 7B F7 D
2 17 A B 78 9 7 F D
2 B D
76 6A2 B47 782 2920 07B F7 DD 8EB B4C C52
B D
6A A2B 478 829 9207 7BF F7D D8 8EB 4C 52C C28
2 47 2 20 B 7D D EB 4C 52 2 C2
2B B47 829 9207 7BF F7D D8 8EB 4C 52C C28 8C2 817
8 5 8
7 2 0 D 8 B C 2 8 2 1 A B
47 829 920 7BF F7D D8 EB 4C 52C C28 C2 817 76A 2B 478
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29
82 920 7B F7 DD 8EB 4C 52 C2 8C2 81 76A 2B 47 829 20
D 8 7
20 B 7D D8 EB 4C 52 28 C2 17 6A 2B 78 29 07 BF 7D
F C
57269
BF 7D D8 B C 2C 28 2 17 A B 78 92 07 F D 8E B4 C5
10 each
i)
ii)
Creditors
Liabilities
Debentures
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
Issued and Paid-up

28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
Statutory Reserve (to be

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
You are required to:
Equity Share Capital of Rs.

maintained for 3 more years)

You are required to show:

a) Purchase Consideration
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
Rs.
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
50,000
6,60,000
_______
1,00,000
5. Debentures of Teena Ltd were paid.

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
4
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
Compute Purchase consideration.
of AB Ltd. as per Purchase Method.

debentures of AB Ltd. at premium of 10%.
OR
Assets

b) Ledger accounts in the books of Teena Ltd.

c) Opening entries in the books of Meena Ltd.
6. The amalgamation is in the nature of purchase.

shares. of Rs.10. each at premium of Rs. 2 each.

C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
5,00,000 Fixed Assets
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
C28C28176A2B47829207BF7DD8EB4C52
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
Current Assets
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
10,000 Profit& Loss A/c
Intangible Assets

2. The following is the Summary Balance Sheet of Teena Ltd:
47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07 BF 7D D8 Meena Ltd. agreed to absorb Teena Ltd, on the following terms:
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92 7B F7 DD 8E B4 5 1. Meena Ltd agreed to take over all the assets and liabilities.
52 C2 C2 81 76A 2B 47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 4
3. The purchase price is to be paid one-quarter in cash and the balance in
2. The assets of Teena Ltd. are to be considered to be worth Rs.5,00,000.
3. The debentures of A Ltd. are to be discharged by issue of 8% 11000
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47

Rs.
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4
15
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78
4. Liquidation expenses amounted to Rs.300 agreed to be paid by Teena Ltd.
2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 2
47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29
Pass opening entries in the books of AB Ltd and draw a Balance sheet
80,000
50,000
6,60,000
_______
1,10,000
4,20,000
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 2
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92
BF 7D D8 B C 2C 28 2 17 A B 78 92 07
TURN OVER
7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF
EB 4C 52 28 C2 817 6A 2B 478 29 207 BF
4C 52 C28 C2 81 6A 2B 47 29 207 BF 7
52 C2 C2 81 76A 2B 47 829 20 BF 7D
C2 8C 81 76 2 47 82 20 7B 7D
8C 28 76 A2 B4 82 920 7B F7 D
2 17 A B 78 9 7 F D
2 B D
76 6A2 B47 782 2920 07B F7 DD 8EB B4C C52
B D
6A A2B 478 829 9207 7BF F7D D8 8EB 4C 52C C28
2 47 2 20 B 7D D EB 4C 52 2 C2
2B B47 829 9207 7BF F7D D8 8EB 4C 52C C28 8C2 817
8 5 8
7 2 0 D 8 B C 2 8 2 1 A B
47 829 920 7BF F7D D8 EB 4C 52C C28 C2 817 76A 2B 478
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29
82 920 7B F7 DD 8EB 4C 52 C2 8C2 81 76A 2B 47 829 20
D 8 7
20 B 7D D8 EB 4C 52 28 C2 17 6A 2B 78 29 07 BF 7D
F C
57269
BF 7D D8 B C 2C 28 2 17 A B 78 92 07 F D 8E B4 C5
paid
Stock
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
fully paid
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B Liabilities
Book Debts
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
Rs. 100 each
Fixed Assets
47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07 BF 7D D8 Share Capital:
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
Trade Creditors
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
of the liquidator.
security of stock)
Loan from Bank (on

Rs. 100 each, Rs. 75
1,000, 6% Preference
2,000 Equity shares of

2,000 Equity shares of
shares of Rs. 100 each,
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
was found to be irrecoverable.

6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
Rs.

2,00,00
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
9,00,000
3,50,000
1,00,000
1,50,000
1,00,000
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
5
OR
hand Rs. 40,000 as per Balance Sheet):

Cash
Stock

C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
Account
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
C28C28176A2B47829207BF7DD8EB4C52
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
Book debts
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
Fixed Assets
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
Balance Sheet as at 31/03/2018

Assets
Prepare the Liquidators' Final Statement of Account.

Profit and Loss
Rs. 2,30,000
Rs. 1,10,000
Rs. 1,68,000
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
52 C2 C2 81 76A 2B 47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 4
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4
Rs.
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78
The assets realised the following amounts (after all costs of realisation
3. The following is the Balance Sheet of XY Ltd which is in the hands
and liquidator's commission amounting to Rs. 5,000 paid out of cash in
2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 2
(15)
Calls on partly paid shares were made but the amount due on 200 shares
47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29
40,000
9,00,000
3,00,000
2,40,000
1,20,000
2,00,000
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 2
TURN OVER
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92
BF 7D D8 B C 2C 28 2 17 A B 78 92 07
7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF
EB 4C 52 28 C2 817 6A 2B 478 29 207 BF
4C 52 C28 C2 81 6A 2B 47 29 207 BF 7
52 C2 C2 81 76A 2B 47 829 20 BF 7D
C2 8C 81 76 2 47 82 20 7B 7D
8C 28 76 A2 B4 82 920 7B F7 D
2 17 A B 78 9 7 F D
2 B D
76 6A2 B47 782 2920 07B F7 DD 8EB B4C C52
B D
6A A2B 478 829 9207 7BF F7D D8 8EB 4C 52C C28
2 47 2 20 B 7D D EB 4C 52 2 C2
2B B47 829 9207 7BF F7D D8 8EB 4C 52C C28 8C2 817
8 5 8
7 2 0 D 8 B C 2 8 2 1 A B
47 829 920 7BF F7D D8 EB 4C 52C C28 C2 817 76A 2B 478
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29
82 920 7B F7 DD 8EB 4C 52 C2 8C2 81 76A 2B 47 829 20
D 8 7
20 B 7D D8 EB 4C 52 28 C2 17 6A 2B 78 29 07 BF 7D
F C
57269
BF 7D D8 B C 2C 28 2 17 A B 78 92 07 F D 8E B4 C5
Total
Liabilities
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
Outstanding
Rs.100 each
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
claims.
of Rs.10 each
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
Sundry creditors
5% Debenture of
Debenture interest
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
6,000 8% Preference
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92 7B F7 DD 8E B4 5 50,000 Equity shares

shares of Rs.100 each
reduced to Rs.3 each.

C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
50,000
which is paid immediately.

17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
Amount
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
1,80,000
3,00,000
5,00,000
6,00,000
16,30,000
6

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
Total
Bank
Stock

Assets
Patents

Building
Furniture
Goodwill
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
C28C28176A2B47829207BF7DD8EB4C52
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
Note: Preference dividend is in arrears for three years.

Sundry Debtors

Profit and loss a/c
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
holders agreed to waive 50% of outstanding interest.

The following scheme of reconstruction is approved by Court-

52 C2 C2 81 76A 2B 47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2
2) 5% Debentures shall be reduced to Rs.75 each. The debenture

Preference shares of Rs.50 each and the Equity shares shall be
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B
Equity shares for Rs.30,000 in part settlement of their renewed

8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 4
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 1) The Preference shares shall be converted into equal number of 9%
3) Sundry creditors agreed to waive 30% of their claims and to accept

6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78
Amount
4) Arrears of Preference dividend to be reduced to one year’s dividend

2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 2
16,30,000
3. Following is the Balance sheet of Panasonic ltd as on 31st March,2018 (15)
75,000
75,000
40,000
60,000
5,30,000
1,50,000
1,00,000
6,00,000
47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 2
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92
TURN OVER
BF 7D D8 B C 2C 28 2 17 A B 78 92 07
7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF
EB 4C 52 28 C2 817 6A 2B 478 29 207 BF
4C 52 C28 C2 81 6A 2B 47 29 207 BF 7
52 C2 C2 81 76A 2B 47 829 20 BF 7D
C2 8C 81 76 2 47 82 20 7B 7D
8C 28 76 A2 B4 82 920 7B F7 D
2 17 A B 78 9 7 F D
2 B D
76 6A2 B47 782 2920 07B F7 DD 8EB B4C C52
B D
6A A2B 478 829 9207 7BF F7D D8 8EB 4C 52C C28
2 47 2 20 B 7D D EB 4C 52 2 C2
2B B47 829 9207 7BF F7D D8 8EB 4C 52C C28 8C2 817
8 5 8
7 2 0 D 8 B C 2 8 2 1 A B
47 829 920 7BF F7D D8 EB 4C 52C C28 C2 817 76A 2B 478
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29
82 920 7B F7 DD 8EB 4C 52 C2 8C2 81 76A 2B 47 829 20
D 8 7
20 B 7D D8 EB 4C 52 28 C2 17 6A 2B 78 29 07 BF 7D
F C
57269
BF 7D D8 B C 2C 28 2 17 A B 78 92 07 F D 8E B4 C5
Liabilities
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
Bank Loans
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
Ascertain:
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
10% Debentures
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
General Reserve
Sundry Creditors
Security Premium
Profit and Loss A/c

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
Equity Shares (Rs.10)

c. Stock - Rs.1,00,000

b. Furniture - Rs.80,000

a. Building – Rs.6,60,000
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
d. Sundry debtors-Rs.70,000
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
company took the following steps:

6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
Rs.
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
5) The assets are revalued as under-
OR
7
40,00,000
10,00,000
40,00,000
___________
1,90,00,000
3. Sold 70% of investments at a profit of 10%.
b) Maximum price it can offer for buy back.

C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
reduction a/c in the books of Panasonic ltd.
20,00,000 Bank
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
C28C28176A2B47829207BF7DD8EB4C52
Assets
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
c) Pass Journal Entries in the books of the company.

5,00,000 Investments
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB 50,00,000 Fixed Assets
6) Intangible and fictitious assets are to be written off.
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
25,00,000 Other Current Assets
You are required to Pass Journal entries and prepare Capital
a) Maximum Number of equity shares that can be bought back.

52 C2 C2 81 76A 2B 47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 4
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47
2. Issued 2,000, 10% Debentures of Rs.100 each at a premium of 10%.

The Company decided to buy back its equity shares for this purpose the
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4
15
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78
4. Following is the Balance sheet of Ms. Satya Ltd. as on 31st March,2018
2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 2
1. Issued 3,000, 8% preference shares of Rs.100 each at a premium of 5%.

47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 2
TURN OVER
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92
BF 7D D8 B C 2C 28 2 17 A B 78 92 07
7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF
50,00,000
30,00,000
50,00,000
60,00,000
1,90,00,000
_________
Rs.
EB 4C 52 28 C2 817 6A 2B 478 29 207 BF

4C 52 C28 C2 81 6A 2B 47 29 207 BF 7
52 C2 C2 81 76A 2B 47 829 20 BF 7D
C2 8C 81 76 2 47 82 20 7B 7D
8C 28 76 A2 B4 82 920 7B F7 D
2 17 A B 78 9 7 F D
2 B D
76 6A2 B47 782 2920 07B F7 DD 8EB B4C C52
B D
6A A2B 478 829 9207 7BF F7D D8 8EB 4C 52C C28
2 47 2 20 B 7D D EB 4C 52 2 C2
2B B47 829 9207 7BF F7D D8 8EB 4C 52C C28 8C2 817
8 5 8
7 2 0 D 8 B C 2 8 2 1 A B
47 829 920 7BF F7D D8 EB 4C 52C C28 C2 817 76A 2B 478
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29
82 920 7B F7 DD 8EB 4C 52 C2 8C2 81 76A 2B 47 829 20
D 8 7
20 B 7D D8 EB 4C 52 28 C2 17 6A 2B 78 29 07 BF 7D
F C
57269
BF 7D D8 B C 2C 28 2 17 A B 78 92 07 F D 8E B4 C5
5
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
5. Short notes: (Any 3)

3. Preferential Creditors
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
1. Overriding commission
2. Purchase consideration
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
5. Buyback of equity shares

17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
4. Need of Internal Reconstruction

different modes of winding up?
8
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
OR
___________________
C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B 47
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829
C28C28176A2B47829207BF7DD8EB4C52
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47 82 20
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4 82 92 7B
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78 92 07 F
were marked in favor of P, Q, R and S respectively.

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 20 BF 7D D8 EB
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20 7B 7 D E 4C
Calculate the liability of each of the underwriters when firm
30%, 30%, 20% and 20% respectively with the provision of firm

4. Spine Ltd. invited applications from public for 1,00,000 Equity

shares of Rs.10 each at a premium of Rs.5 per share. The entire
52 C2 C2 81 76A 2B 47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2

C2 8C 81 76 2 47 82 20 7B 7D D EB 4C 52 2 C2 81 6A 2B
8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 4
underwriting of 3,000; 2,000;1,000 and 1,000 shares respectively. The
28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47

out of which applications for 19,000;10,000;21,000 and 8,000 shares
17 A B4 78 92 07 F DD 8E B4 C5 C 8C 28 76 A2 B4
B) What do you mean by Liquidation of a company? Describe the
issue was underwritten by the underwriters P, Q, R and S to the extent of
underwriting shares are treated as marked and unmarked applications.
15
15
The company received applications for 70,000 shares from public
6A 2B 78 29 07 BF 7D 8 B C 2C 28 28 17 A B4 78
underwriters were entitled to the maximum commission permitted by law.
2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 2
A) State the conditions for amalgamation in the nature of merger. 8
47 829 20 BF 7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29

82 20 7B 7 D EB 4C 52 2 C2 81 6A 2B 47 29 2
92 7B F7 DD 8E 4 5 C2 8C 81 76 2 47 82 20
07 F D 8E B4 C5 2C 8C 28 76 A2 B4 82 92
BF 7D D8 B C 2C 28 2 17 A B 78 92 07
7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07
D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF
EB 4C 52 28 C2 817 6A 2B 478 29 207 BF
4C 52 C28 C2 81 6A 2B 47 29 207 BF 7
52 C2 C2 81 76A 2B 47 829 20 BF 7D
C2 8C 81 76 2 47 82 20 7B 7D
8C 28 76 A2 B4 82 920 7B F7 D
2 17 A B 78 9 7 F D

Financial Accounting V PDF

Caricato da

Informazioni sul documento

Titolo originale

Copyright

Formati disponibili

Condividi questo documento

Condividi o incorpora il documento

Opzioni di condivisione

Hai trovato utile questo documento?

Questo contenuto è inappropriato?

Copyright:

Formati disponibili

Financial Accounting V PDF

Caricato da

Copyright:

Formati disponibili

2 B D

76 6A2 B47 782 2920 07B F7 DD 8EB B4C C52

d) None of the above

a) If the company is solvent

b) If the company is insolvent

b) Asset not specifically pledged

7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07 BF 7D D8 B C5 2C 28C

c) Two or more companies are liquidated

6. Marked applications refer to ___________

4C 52 C28 C2 81 6A 2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 817 6A

8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829

c) Whether the company is solvent or insolvent

a) Applications bearing the stamp of the underwriters

7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07 BF 7D D8 B C5 2C 28C

4C 52 C28 C2 81 6A 2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 817 6A

b) Applications carrying the signature of public who applied for shares

7. Buyback must be completed within______ from the date of passing the

c) Applications carrying the stamp of company which offered the shares

31-3-2018 were as under:

date of actual payment.

c) Writing off losses

d) None of the above

4C 52 C28 C2 81 6A 2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 817 6A

7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07 BF 7D D8 B C5 2C 28C

8. Local taxes are an example of secured creditors.

2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 292 07 BF 7D

7. Marked applications are also known as direct applications.

D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF 7D D8 EB 4C5 2C 28 28

4C 52 C28 C2 81 6A 2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 817 6A

4. Cancellation of contingent liability is treated as profit to the company.

10. If the company is insolvent, interest on debentures is payable up to the

2. A Ltd. and B Ltd. were carrying on the business of manufacturing of auto

Plant and Machinery

Furniture and Fixture

7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07 BF 7D D8 B C5 2C 28C

2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 292 07 BF 7D

2. Furniture and Fixture of B Ltd was valued at Rs.35,000.

book value with the exception of some items detailed below:

The assets and liabilities of the existing companies are to be transferred at

1. Goodwill of A Ltd. was worth Rs.50,000 and B Ltd worth Rs.1,50,000.

Issued and Paid-up

Statutory Reserve (to be

Equity Share Capital of Rs.

maintained for 3 more years)

You are required to show:

5. Debentures of Teena Ltd were paid.

7D D8 EB 4C 52C 28 C2 817 6A 2B 478 29 07 BF 7D D8 B C5 2C 28C

D8 EB 4C 52C 28 C2 817 6A 2B 478 29 207 BF 7D D8 EB 4C5 2C 28 28

b) Ledger accounts in the books of Teena Ltd.

6. The amalgamation is in the nature of purchase.

shares. of Rs.10. each at premium of Rs. 2 each.

8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829

2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 292 07 BF 7D

28 176 A2 B4 782 92 7B F7 DD 8E B4 52 C2 8C 281 76 2 47

Rs. 100 each

Loan from Bank (on

2,000 Equity shares of

was found to be irrecoverable.

2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 292 07 BF 7D

hand Rs. 40,000 as per Balance Sheet):

4C 52 C28 C2 81 6A 2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 817 6A

8C 28 76 A2 B4 82 920 7B F7 D 8E 4C 52 C2 8C 81 76A 2B 47 829

2B 47 29 207 BF 7D D8 EB 4C 52C 28 C2 17 6A 2B 78 292 07 BF 7D