IGNOU BCOC-137 June 2023 Previous Year Question Paper

Q1.(a) Describe the essential requisites for the valid allotment of shares as per Companies Act. 10

(b) Explain the conditions under which redeemable pre ference shares can be redeemed. 10 [ 2 ]

Q2.You are required to pass the journal entries in the books of Shree Ram Fabrics Ltd. from the following, if : 20

(a) It purchases assets of ` 6,00,000 and agreed to pay the price by issuing 10% debentures of ` 100 each at a premium of 20%.

(b) It purchased assets of ` 4,00,000 and liabilities of ` 40,000. It issued 9% debentures of ` 100 each, at a discount of 10% to satisfy the net purchase price.

(c) It purchased assets and liabilities of a firm for ` 5,00,000. The assets acquired were valued at ` 7,00,000 and the l iabilities taken over were ` 3,00,000. The purchase price is to be satisfied by issue of 10% debentures of ` 100 each at par.

Q3.Explain Cash Flow statement as per AS -3 in detail.

Q4.The Trial Balance of Hanuman Iron Ltd. as on 31st March, 2020 is as ahead : 20 Particulars Dr. (`) Cr. (`) Stock as on 01-04-2019 2,08,000 Sales 21,60,000 Excise Duty 40,000 Purchases 17,00,000 Wages 3,00,000 Discount 74,960 40,000 Furniture 4,00,000 Salary 1,48,000 Rent 37,800 Sundry Expenses 20,280 P & L A/c (opening) 2,04,240 Goodwill 2,60,000 Share Capital 10,00,000 Debtors and Creditors 2,94,000 2,86,000 Machinery 3,68,000 Cash and Bank 1,05,200 Reserve Fund 2,06,000 Patents 1,20,000 10% Debentures 2,00,000 Interest on Debentures 20,0

(00)

Q5.96,240 40,96,240 Additional Information :

(i) Closing Stock on 31-3-2020 ` 8,80,000.

(ii) Depreciate furniture @ 10% and machinery

(iii) Write off ` 60,000 from g oodwill and ` 20,000 from patents.

(iv) Provision for Taxation 30%.

(v) Proposed Dividend 15%.

(vi) Corporate Dividend Tax 16.225%. Prepare S tatement of Profit & Loss Account and Balance Sheet for the year ended 31st March, 2020.

Q6.In consolidating Balance Sheets of holding company and its subsidiary companies, what is the accounting treatment of any five of the following : 5×4=20

(i) Elimination of investment accounts

(ii) Minority interest

(iii) Cost of control

(iv) Pre-acquisition profits

(v) Post-acquisition profits

(vi) Revaluation of Assets and Liabilities

(vii) Bonus share issued out of revenue profits

(viii)Preference shares in subsidiary company (ix) Debentures (x) Contingent liabilities

Q7.Describe the concept of ‘valuation of shares’.

Q8.Write about the circumstances under which valuation of shares is considered necessary.

Q9.(a) Write a detailed note on ‘Alte ration of Share Capital’. 10

(b) What are the different methods of accounting for amalgamations ?

Q10.(a) Explain buy back of shares. Also explain the motives and conditions of buy back of shares. 10

(b) Describe the various functions of Commercial Banks operating in India. 10 [ 6 ]

Q11.(a) State the mechanisms of recovery of Non - Performing Assets (NPA) in India. 10

(b) While preparing the Bank’s final accounts, how the following will be treated ? 21 2×4=10

(i) Rebate on bills discounted

(ii) Prevision for taxation

(iii) Advances

(iv) Investments 2023 -137 10% [ 9 ]

Q12.08,000

Q13.60,000

Q14.000

Q15.00,000

Q16.00,000

Q17.960 40,000

Q18.00,000

Q19.48,000

Q20.800

Q21.280

Q22.04,240

Q23.60,000

Q24.00,000

Q25.94,000 2,86,000 [ 10 ]

Q26.68,000

Q27.05,200

Q28.06,000

Q29.20,000

Q30.00,000

Q31.000

Q32.96,240 40,96,240

(ii)

(iii)

(iv)

(vi) 5×4=20

(ii)

(iii)

(iv)

(vi)

(vii)

(viii) (ix) 22 ×4=10

(ii)

(iii)

(iv) BCOC–137 12,8

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