89 5B 58 B 75 07 1C A07 EE BD

89 5B7 758F FBB B75 007 1CAA07 EEB BDF FAC

5 0 1 E
95 B75 58F BB7 750 071 CA 07E EB DF AC3 31A
B7 8F BB 50 07 CA 07 EB DF AC 1A 4B
B7 58F BB 750 07 1CA 07 EEB DF AC 31A 4B 89
5 1 E 5
75 8FB BB7 7500 071C CA0 07E EBDDFAAC3 31A 4B8 895B B75
8F B 50 71 A 7E EB F C 1A 4B 95 7 8F
58 BB 75 07 C 07 E D AC 31 4 89 B 58 BB
F 7 0 1 A E B FA 3 A B 5 75 F 7
FB BB7 500 071C CA0 07EE EBDDFA C3 1A4 4B8 895B B75 8FB BB7 500
B 5 0 7 1 A 7 E B F C 1A B 95 75 8F B 50 71
BB 75 07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA
0 1 E B A 5 0 1
B7 7500 071C CA0 07E EB DFAAC3 31A 4B8 895B B75 58FB BB7 7500 071C CA0 07E
E D 4 8 E

65049
5 1 5
75 007 71CAA07 7EE BD FAC C31 A4B B89 95B7 758 FBB B75 007 71CAA07 7EE BD
00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00 1C 0 EE BD FA
50 71 A 7E B F C 1A B 95 75 F B 50 71 A 7E B F C
07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7

4. Audit fees
DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58F

General Reserve

12 per share.
Sundry Creditors
Profit & Loss A/c
AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58 BB

Securities Premium
31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 FBB 75

100 each, fully paid

Further Information:
A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00
B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB B7 500 71C

1. Statutory Reserve
95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B7 50 71 A
B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB 50 07 CA 07

7. Transferee Company

Liabilities
58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75 07 1C 07 EE

8. Sub-division of shares
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7 00 1C A0 EE BD

who could not be traced.

5. Purchase Consideration
Column ‘A’
B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 500 71C A0 7E B FA
N.B.: (1) All questions are compulsory.

50 71 A 7E EB DF C 1A 4B 95 75 8F B 50 71 A 7E EB DF C
disclosed as current liability

9. Loss on revaluation of asset

07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8

3. Arrears of preference dividend

2. Dividend Equalisation Reserve
(2) Figures to the right indicate marks.

7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7 suffixed by words -‘and reduced’

Equity Shares of Rs. 10 each fully paid

DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58F

9% Redeemable Preference Shares of Rs.

AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58 BB

10. Credit balance in capital reduction a/c

Q1. (B) Match the following Columns (Any Seven)
31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 FBB 75

6. Amalgamation Adjustment Reserve A/c

A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00
B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB B7 500 71C
95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B7 50 71 A

OR
B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB 50 07 CA 07
Duration: 2½ Hours

f.
c.
e.
c.
a.
a.

d.
b.

d.
b.
58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75 07 1C 07 EE

Q2. (A) Balance Sheet of AJAY Ltd. as on 31st March, 2019

FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7 00 1C A0 EE BD

Rs.
(2) Amalgamation of companies is governed by AS-9

B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 500 71C A0 7E B FA

Page 1 of 3
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50 71 A 7E EB DF C
(10) Partly paid Preference shares cannot be redeemed.

(2) Company also sold the investments for Rs. 1,60,000.

14,34,000
61,500
13,500
07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4
Q1. (A) State whether the following are True or False (Any Eight):

A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7
Time ratio

DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58F

AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58 BB

AC31A4B895B758FBB750071CA07EEBDF
31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 FBB 75

Divisible profit
A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00
(1) Capital redemption reserve is to be created out of Capital Reserve

Purchase method
B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB B7 500 71C
(5) Profits earned before Incorporation of company are Capital Profits.

Investments
4,50,000 Fixed Assets
95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B7 50 71 A
Contingent liability

B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB 50 07 CA 07

4,50,000 Current Assets

Purchasing Company

Assets

Pass Journal Entries in the books of the company for the above transactions
58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75 07 1C 07 EE
(8) Time Ratio is ratio of number of months before and after incorporation.

Is not a divisible profit

No reduction of capital
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7 00 1C A0 EE BD
Column ‘B’
Paper / Subject Code: 43815 / Corporate Accounting

B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 500 71C A0 7E B FA

4,00,000. You are required to pass Journal Entries to record the above transactions.
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50 71 A 7E EB DF C
Transfer to capital Reserve

2,79,000 balance Rs. 1,00,000)

07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4
Debit – Capital Reduction a/c

1,80,000 (including cash & bank

A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
Amount payable to Shareholders

EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7

DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58
(6) Profit /Loss on sale of Sinking Fund Investment is transferred to profit &loss account

(15)
AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58
(4) The scheme of internal reconstruction can be utilised to provide funds for the company

(9) In profit prior to Incorporation, salary to partner is treated as pre-incorporation expense.

31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 F

A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB
Rs.
(7)

B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB

95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B
Marks: 75

(8)

B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB

(15)
(7) The Balance Sheet prepared after implementation of internal reconstruction scheme is to be
(3) On redemption of preference shares, the unpaid amount to preference shareholders is to be

Redemption Reserve is Rs. 4,00,000 and in Debenture Redemption Reserve Investment is Rs.
and for this purpose, the company issued 25,000 Equity Right Shares of Rs. 10 each at a Rs.

at a premium of 10% after 5 years out of profit. On 31st March, 2019, the balance in Debenture
(1) Company exercised the option to redeem 9% Redeemable Preference Shares at 10% premium

Q2. (B) PUSHPA Ltd. issued 20,000, 10% debentures of Rs. 100 each on 1st April, 2014 at par repayable
(3) Payments were made to redeemable preference shareholders except those holding 200 Shares,
14,34,000
2,99,000
1,35,000
10,00,000
58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7
B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 50
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50
07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 0
1C 0 EE BD A 3 A4 8 5B 58 B 75 00
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71
7E EB FA C3 1A 4B 95 75 8FB B7 500 71
EB DF C 1A 4B 895 B7 8F B 50 71 C
DF AC 31A 4B 89 B7 58F BB 750 07 CA
AC 31 4B 89 5B7 58 BB 75 07 1CA
A 5 5 F 0 1
 89 5B 58 B 75 07 1C A07 EE BD
89 5B7 758F FBB B75 007 1CAA07 EEB BDF FAC
5 0 1 E
95 B75 58F BB7 750 071 CA 07E EB DF AC3 31A
B7 8F BB 50 07 CA 07 EB DF AC 1A 4B
B7 58F BB 750 07 1CA 07 EEB DF AC 31A 4B 89
5 1 E 5
75 8FB BB7 7500 071C CA0 07E EBDDFAAC3 31A 4B8 895B B75
8F B 50 71 A 7E EB F C 1A 4B 95 7 8F
58 BB 75 07 C 07 E D AC 31 4 89 B 58 BB
F 7 0 1 A E B FA 3 A B 5 75 F 7
FB BB7 500 071C CA0 07EE EBDDFA C3 1A4 4B8 895B B75 8FB BB7 500
B 5 0 7 1 A 7 E B F C 1A B 95 75 8F B 50 71
BB 75 07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA
0 1 E B A 5 0 1
B7 7500 071C CA0 07E EB DFAAC3 31A 4B8 895B B75 58FB BB7 7500 071C CA0 07E
E D 4 8 E

65049
5 1 5
75 007 71CAA07 7EE BD FAC C31 A4B B89 95B7 758 FBB B75 007 71CAA07 7EE BD

Creditors
00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00 1C 0 EE BD FA

st
50 71 A 7E B F C 1A B 95 75 F B 50 71 A 7E B F C

Rs. 100 each

07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31

each.

To Rent
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4

arrears.
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8

To Salaries

To Salaries
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95

To Net Profit

To Net Profit
EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7
DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58F

incorporation period.
AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58 BB

To Bank Charges
To Directors Fees
To Rent and Rates
31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 FBB 75

To Interest on loan

To Office Expenses
A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00

Liabilities
To Selling Expenses

To Selling Expenses
To Salary to Partners
To Discount Allowed
B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB B7 500 71C

To Debenture Interest
95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B7 50 71 A

Securities Premium Account

Equity Shares of Rs. 10 each
Particulars

B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB 50 07 CA 07

Particulars

To Preliminary Expenses
58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75 07 1C 07 EE
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7 00 1C A0 EE BD
B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 500 71C A0 7E B FA
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50 71 A 7E EB DF C

7% Cumulative Preference Shares of

07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4

for the year ended 31st March 2019

A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7

To Interest on Purchase Consideration

DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58F
AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58 BB
31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 FBB 75
A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00

Rs.
B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB B7 500 71C
Rs.

95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B7 50 71 A
OR

Rs.
B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB 50 07 CA 07
32,000

20,20,000
200,000
12,000
36,000
10,000

5,000
18,000
3,000

58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75 07 1C 07 EE

settled under a duly approved capital reduction scheme:

257,000
35,000
2,000
9,000
24,000
8,000
6,000
18,000
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7 00 1C A0 EE BD
B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 500 71C A0 7E B FA

Page 2 of 3
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50 71 A 7E EB DF C
07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31

(4) Freehold premises to be written down to Rs. 7,40,000

1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4 Balance Sheet as on 31st March, 2019

1,60,000 Stock
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7
DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58F 11,00,000 Goodwill

Pass journal entries to implement the above scheme of reconstruction

AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58 BB

AC31A4B895B758FBB750071CA07EEBDF
31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 FBB 75

1,60,000 Sundry Debtors

84,000 By Gross Profit

A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00

120,000 By Gross Profit

Assets
Profit & Loss A/c for the year ended 31st March, 2019

B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB B7 500 71C

Profit & Loss A/c

Freehold Premises
Particulars

6,00,000 Plant & Machinery

95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B7 50 71 A
B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB 50 07 CA 07

Particulars
Q3. (B) On 31 March, 2019; the following was the Balance Sheet of RAHUL Ltd.

Preliminary Expenses
58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75 07 1C 07 EE
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7 00 1C A0 EE BD
Paper / Subject Code: 43815 / Corporate Accounting

B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 500 71C A0 7E B FA

(3) All intangible assets and the Securities Premium Account to be written-off.
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50 71 A 7E EB DF C
07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4
& Loss A/c of the company prior to and after the date of incorporation is as under:

35,000 By Interest on Fixed Deposit

A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7
DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58
Rs.

AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58

Rs.

31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 F

(15)
200,000
200,000

(2) One Rs. 5 Equity Share to be issued for each Rs. 10 of gross preference share dividend in
A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB

Rs.
Dividends on the preference shares are in arrears as from 1st April, 2018. The following terms were

B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB

(1) Equity Shares to be reduced to Rs. 5 each and the Preference Shares to be reduced to Rs. 80
95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B
20,20,000
3,00,000
1,00,000
90,000
1,40,000
3,20,000
9,50,000
1,20,000

B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB
(15)
(15)

LEELA, a partnership firm with effect from 1st April, 2018. Following is their Profit & Loss A/c
You are required to prepare a statement apportioning the profits between pre incorporation and post
Q3. (A) EXCEL Ltd. was incorporated on 1st August, 2018 to take over a business as a going concern

out of which Rs. 1,50,000 related to the period from 1st April, 2018 to 31st July, 2018. The Profit

Q4. (A) RAMLEELA Ltd. was incorporated on 1st October, 2018 to take over the business of RAM &

257,000
7,000
2,50,000
from 1st April, 2018. The sales turnover for the year ended 31st March, 2019 was Rs. 5,00,000

58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7
B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 50
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50
07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 0
1C 0 EE BD A 3 A4 8 5B 58 B 75 00
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71
7E EB FA C3 1A 4B 95 75 8FB B7 500 71
EB DF C 1A 4B 895 B7 8F B 50 71 C
DF AC 31A 4B 89 B7 58F BB 750 07 CA
AC 31 4B 89 5B7 58 BB 75 07 1CA
A 5 5 F 0 1
 89 5B 58 B 75 07 1C A07 EE BD
89 5B7 758F FBB B75 007 1CAA07 EEB BDF FAC
5 0 1 E
95 B75 58F BB7 750 071 CA 07E EB DF AC3 31A
B7 8F BB 50 07 CA 07 EB DF AC 1A 4B
B7 58F BB 750 07 1CA 07 EEB DF AC 31A 4B 89
5 1 E 5
75 8FB BB7 7500 071C CA0 07E EBDDFAAC3 31A 4B8 895B B75
8F B 50 71 A 7E EB F C 1A 4B 95 7 8F
58 BB 75 07 C 07 E D AC 31 4 89 B 58 BB
F 7 0 1 A E B FA 3 A B 5 75 F 7
FB BB7 500 071C CA0 07EE EBDDFA C3 1A4 4B8 895B B75 8FB BB7 500
B 5 0 7 1 A 7 E B F C 1A B 95 75 8F B 50 71
BB 75 07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA
0 1 E B A 5 0 1
B7 7500 071C CA0 07E EB DFAAC3 31A 4B8 895B B75 58FB BB7 7500 071C CA0 07E
E D 4 8 E

65049
5 1 5
75 007 71CAA07 7EE BD FAC C31 A4B B89 95B7 758 FBB B75 007 71CAA07 7EE BD
00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00 1C 0 EE BD FA
50 71 A 7E B F C 1A B 95 75 F B 50 71 A 7E B F C
07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8

Sundry Creditors
General Reserves
Profit & Loss A/c
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7

Liabilities
DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58F
AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58 BB

‘RAMKRISHNA’ Ltd.
31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 FBB 75
A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00

RAMKRISHNA Ltd.
B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB B7 500 71C

Equity Shares of Rs. 10 each

95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B7 50 71 A
Additional Information:-

B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB 50 07 CA 07

(1) Capital Reduction A/c

that date were as follows:
58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75 07 1C 07 EE
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7 00 1C A0 EE BD
B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 500 71C A0 7E B FA
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50 71 A 7E EB DF C

(2) Profit Prior to Incorporation

07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4
(Rs.)

Q.5. (C) Write Short Note on (Any Three):

A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95

11,00,000
1,80,000
80,000
40,000
8,00,000
EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7

OR
DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58F

(3) Net Assets Method in Amalgamation

(4) Internal Reconstruction of a company
AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58 BB
Post incorporation period on suitable basis.

31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 FBB 75

A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00
-
OR

B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB B7 500 71C

95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B7 50 71 A

each and balance in Equity Shares of Rs. 10 each.

B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB 50 07 CA 07
Ltd. (Rs.)

58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75 07 1C 07 EE
RAM Ltd. KRISHNA

6,00,000
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7 00 1C A0 EE BD

(5) Explain the methods of Redemption of Debenture

B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 500 71C A0 7E B FA

Page 3 of 3
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50 71 A 7E EB DF C
07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
turnover from 1st April, 2018 to 30th September, 2018.

1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8
1,00,000 Stock

7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
(3) Interest on Fixed Deposit was received for the entire year.

1,00,000 Debtors

EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7

*******************
(2) Purchase Consideration was settled on 31st December, 2018.

DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58F

AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58 BB

AC31A4B895B758FBB750071CA07EEBDF
31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 FBB 75
Assets

A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB 7 00
Cash and Bank

B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB B7 500 71C

4,00,000 Land & Building

95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B7 50 71 A
Plant & Machinery

B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB 50 07 CA 07
58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75 07 1C 07 EE
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7 00 1C A0 EE BD
(B) Distinction between Amalgamation, Absorption and External Reconstruction
Paper / Subject Code: 43815 / Corporate Accounting

B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 500 71C A0 7E B FA

Q5. (A) What are the provisions relating to issue and redemption of preference shares?
50 71 A 7E EB DF C 1A 4B 95 75 8F B 50 71 A 7E EB DF C
07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 07 CA 07 E DF AC 31
1C 0 EE BD A 3 A4 8 5B 58 B 75 00 1C 0 EE BD A 3 A4
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71C A0 7E BD FA C3 1A B8
7E EB FA C3 1A 4B 95 75 8FB B7 500 71 A 7E EB FA C3 1A 4B 95
(Rs.)

EB DF C 1A 4B 895 B7 8F B 50 71 CA 07E EB DF C 1A 4B 895 B7

DF AC 31A 4B 89 B7 58F BB 750 07 CA 07 EB DF AC 31A 4B 89 B7 58
11,00,000
1,60,000
1,40,000
3,00,000
1,00,000
4,00,000

AC 31 4B 89 5B7 58 BB 75 07 1CA 07 EE DF AC 31 4B 89 5B7 58

31 A4B 89 5B7 58 FBB 75 007 1CA 07 EE BD AC 31 A4B 89 5B7 58 F
A4 8 5B 58 FB 7 00 1C 0 EE BD FA 3 A4 8 5B 58 FB
(15)

B8 95B 75 FB B7 500 71C A0 7E BD FA C3 1A B8 95B 75 FB

95 75 8F B7 50 71 A 7E EB F C3 1A 4B 95 75 8F B
B7 8F BB 50 07 CA 07 EB DF AC 1A 4B 89 B7 8F BB
(15)
(7)
(8)
columnar form apportioning all the income and expenditure items between Pre incorporation and

You are required to prepare Purchase Consideration and journal entries in the books of
(2) Purchase Consideration was paid partly in cash Rs. 1,00,000 to Ram Ltd. and KRISHNA Ltd.
Q4. (B) The RAM KRISHNA Company Ltd. was formed to acquire the running business of RAM Co.
(1) Monthly turnover from 1st October, 2018 to 31st March, 2019 was twice that of monthly

Ltd. and KRISHNA Co. Ltd. as from 1st April, 2019. The Balance Sheet of the two companies on

(1) All the Assets and Liabilities of both the companies were taken over at book value by
You are required to prepare Profit & Loss of the company for the year ended 31st March, 2019 in

58 BB 75 07 1C 07 EE D AC 31 4 89 5B 58 BB 75
FB 7 00 1C A0 EE BD FA 3 A4 B8 5B 75 FB 7
B7 500 71C A0 7E B FA C3 1A B8 95B 75 8FB B7 50
Ltd. (Rs.)
RAM Ltd. KRISHNA

50 71 A 7E EB DF C 1A 4B 95 75 8F B 50
6,00,000
1,20,000
50,000
1,80,000
50,000
2,00,000

07 CA 07 E DF AC 31 4B 89 B7 8F BB 75 0
1C 0 EE BD A 3 A4 8 5B 58 B 75 00
A0 7E BD FA C3 1A B8 95B 75 FB B7 00 71
7E EB FA C3 1A 4B 95 75 8FB B7 500 71
EB DF C 1A 4B 895 B7 8F B 50 71 C
DF AC 31A 4B 89 B7 58F BB 750 07 CA
AC 31 4B 89 5B7 58 BB 75 07 1CA
A 5 5 F 0 1