RGU Question Paper Commerce Semester IV 2020: Advanced Accounting (Old)

 

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B.Com (IV Semester) Examination

COMMERCE

Paper : BCM–402 (Old Course)

( Advanced Accounting )

Full Marks : 80

Pass Marks : 35%

Time : Three Hours

Section—I

1. Answer the following questions : 2×5=10

(a) Define share.

(b) Explain the term ‘forfeiture’.

(c) What is repossession?

(d) List out different classifications of debentures.

(e) What is invoice price?

Section—II

2. Answer any four of the following questions : 5×4=20

(a) Explain difference between dependent branch and independent branch.

(b) What is securities premium? How is it treated in Balance Sheet?

(c) What is short working? Give Journal Entries for occurrence and recovery of short working.

(d) Distinguish between hire-purchase system and installment purchase
system.

(e) What is deficiency? How is it shown in Statement of Affairs?

(f) Explain three bases of apportionment of joint expenses of a departmental store.

Section—III

3. Answer any five of the following questions : 10×5=50

(a) What is pro rata allotment? Explain the circumstances of pro rata allotment of shares.

(b) Convenient Ltd. issued 30000 equity shares for Rs 15 per share for public subscription on 1st April, 2018. The face value of each share is Rs 12. All the shares were subscribed and all the money received as under—

Application—Rs 5;

Allotment—Rs 8.

and balance in first and final call. Assuming that premium was received with allotment, pass necessary Journal Entries in the books of the company.

(c) Explain the legal condition of insolvency. Also discuss the accounts which are prepared to record the settlement of insolvency.

(d) Tato & Co. bought a truck from Menia Bros. on 1st January, 2018 for a cash price of Rs 18 lacs. The cash price is payable in three equal installments plus interest @ 8% on outstanding balance. Tato & Co. paid all the instalments as due. Prepare necessary Ledger Accounts in the books of the hire purchaser for three years.

(e) What do you mean by redemption of debentures? Elaborate different methods used to redeem debentures.

(f) What is Branch Account? Why is it prepared? Draw a Branch Account with imaginary figures.

(g) Calculate Royalty in the following cases :
(i) Minimum rent Rs 20,000 and short working is Rs 12,000
(ii) Minimum rent Rs 25,000 and short working is Rs 20,000
(iii) Minimum rent Rs 30,000 and surplus is Rs 5,000
(iv) Minimum rent Rs 25,000 and short working is nil
(v) Minimum rent Rs 12,000 and output is 2000 units, rate of royalty Rs 250.