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    Financial Accounting V 2024

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    msamirajk
    Internship

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    Financial Accounting V 2024

    Uploaded by

    msamirajk
    23 views2 pages
    Internship

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    financial accounting v 2024

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    Internship

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    23 views2 pages

    Financial Accounting V 2024

    Uploaded by

    msamirajk
    Internship

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    ANUGRAHA INSTITUTE OF SOCIAL SCINCES 11. a) S ltd purchased a machinery for Rs. 4,40,000 from SK& Sons.

    It issued
    equity shares of Rs. 10 each fully paid of at a premium of 10%. Pass journal
    Nochiodaipatty, Dindigul entries . (Or)
    I Internal Exam- 2024
    Class: Financial Accounting (V) TIME:2hrs
    SUB CODE: CCAJC51 MARK:50
    I Choose the best one (9*1⁼9) b) C Ltd issued 1,000 12% debentures of Rs. 100 each. Give journal entries under
    1.Registered companies are formed under---- two situations.
    a )an act passed by the parliament b) the companies act i) issued at par and redeemable at par .
    c)The a partnership act d)the co-operative act ii) issued at a discount of 10% and redeemable at premium of10%.
    2.Equity shareholder is ----of the company.
    a)creditor b)lendor c)debtor d)owner
    3.Share application account is a---- 12 a) The following underwriting of shares takes place:
    a) nominal a/c b) real a/c c) impersonal a/c d) personal a/c A----6000 shares : B ---- 2500 shares C---- 1500 shares The issue consists of
    4.Bonus shares are issued ---- 10,000 shares. The total subscription was 7,100 shares and the forms included the
    a)free of cost b)for consideration c)for cash d)at market price following marked forms:
    5.A debentureholder is ---- A-----1,000 shares B -----2,0000 shares: C--- 500 shares: Show the allocation of
    a)an owner b) a loan creditor c)a director d) a trade creditor liability of underwriters. (Or)
    6. Premium on redemption of debentures a/c is in the nature of---
    a)personal a/c b)real a/c c) nominal a/c d) impersonal a/c b)Distinguish between a private company and a public company.
    7.The rate of underwriting commission on shares must not exceed ----- of the
    issue price of shares. III Answer Any TWO of the following: 2*10=20
    a) 5% b) 7% c) 2 ½% d)3 ½% 13. What are the different between private and public company?
    8. The underwriting account is a ----
    personal a/c b)real a/c c) nominal a/c d) impersonal a/c 14. Sam and sekar agreed to sell their business to a limitied company from
    9.Fully paid bonus shares can be issued out of ---- 1.1.2007. but the company was legally incorporated 1.5.2007 and prepared final
    a)P&L a/c b) General reserve a/c c) share premium d) all accounts 31.12.2007. it was observed that the sales were uniform upto the date of
    II Answer the following : (3*7=21) incorporation. But went up by 50% on average thereafter. Calculate the weighted
    10. a) Define Company. What are its charactertistics? (Or) sales ratio.

    b) on 1.1.2008 R ltd offer 10,000 shares of Rs. 10 each payable as follows; on 15. X ltd invited the public to subscribe 10,000 equity shares of Rs. 100 each at a
    Application Rs. 3 per share, on allotment Rs. 2 per share: on first call Rs. 3 per premium of Rs. 10 per shares. Payment was to be paid as follows: on application
    share: on final call Rs. 2 per share . All the share are subscribed and amounts duly Rs. 20: on Allotment Rs. 40 : (including premium ) on first call Rs. 30: on final
    received. pass journal entries. call Rs. 20:.
    Application totaled for 13,000 shares: applications for 2,000 shares were
    rejected and allotment was made proportionately to the remaining applications.
    The directors made both the calls and all the moneys were received except the
    final call on 300 shares which were forfeited. Later 200 of these forfeited shares
    were issued as fully paid @ Rs. 85 per share.

    Journalise these transaction including cash transactions.

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