~ Code No. 20271: FACULTY OF coMMERCE B.Com (CBCS){iLSemostor) cxamInallon, July 2024 {Common Paper for Gonoral | Compurst APPHeallons J Advorticing J Forolgn Trado J Tax Procedurg {and Honours Courses} Subject : Advanced Accounting Papor Code DSC -301 Time 2 ours! va 2H hax tanks 60 N Porta lote: Answer the following any Four Question (4x6=20 Mana) 1 XY Zare partners shanna prott and loses the tang of 5.2 tney extn A ws to parngranin sing ge hem 19 sate Ube Fun oat Neve Prot hte? Ratio 2. Fined Capital Rtothod 3. Gamer Vs Murray case 4, Groen Limited issued 400,000 shares of 25 10 exch aia prinun ot 12s. 200 Al {ho Amount should he paid an ppieaton. 3.09.000 appicdons wore raceaved ane {ull ated: We tha yarn ery 5. Under wring 6 Distinguish between share forfeture and share suronder 7 The Profits of tho last ~5 Yis were 1 Rs 30,000; 2- Rs 36,000! -Rs (14000) . 4-20.000; 6-Rs 8,000 Cajeuate the good at2ycars Averaye gral of Ne last 5 years, ” * " me 8. From the following infarmation caleutate far valuo of hace Asset Backing Method Fully paid share ~ 180, partly pard hare value — 165 fully paid value sharo— 152, Partly pard share value-102 PotD Note : Answor the following any Four Question, (4x15=60 Manns) 2© The following was the Balance sheet of Raly and Ravi whe wore shanng profits in the ratio of 3.2, On 31* Dec 2018. Balanco Shoot as on 34 Decembor 2018 Liabilities Assots, |) Amount s tre General Reset [Cash atbank¥ | 15.000 Creditors | [Debio | 10.000 Raju's Capita ca ‘Stock 20,000 | { Ravi's Capitet_ Plani_and Machinerg | 55.000 Buildings: {50,000 ee 450,000 They agreed to admit Vijay in to partnership on the following terms. 1) Vijay was to be given 1igp share in profits and was to bring Rs. 25,000 as Capital and Rs. 15,000 ashis_share of Goodwil 2) The value of Stock and pant were to be reduced by 10% 43) Create 5% provision for doubtful debis on debtons. 4) The Building Account was appreciated by 20% ° id partners. You are 5) That the Goodwill amount was to be withgrawn by the o ) required to prepare to Revaluation account capital Accounts and Balanco sheet of the firm 40. Explain the valuation of Goodwill al the time of Retirement of a partner +1. x and ¥ were in partnership and agreed to disso. Te as ean trom as 80,000. The Liabilities were as follows: Sundry Ce ard profits in X Rs 20 000; ‘Xs capital Rs. 10,009. Y's Capital RS- ‘how the cash realized the rain of 2-1. Show the had per Accounts and§"ow ROM should be distributed https://www.osmaniaonline.comCode No. 2027/E > 12. The following was Balance sheet of P, Q, R, § as on 31% December 2017 Balance sheot 31 December 2017. Tiabilities Amount] Assets | Amount |_Rs. Rs. Creditors "38,000 | Gash al Bank | 6,000 | Capital A/c's ‘Sundry assots | 45.000 P 20,000 | 30,000 R's Capital 42,000 | 10,000 Ss Capital 5,000 68,000 68,000 “The Assets realized: Gundry AssolsR¢.55,000, Geodwall Rs. 10,000; Realization Expenses Rs. 2,000; 'R' has become insolveat ‘and nothing was realized from his private estate show capital A/c’s of partners. 13. Explain the procedure for Issue of Debentures along with conditions of redemption 44 Alimited issued 5000 Equity shaves of Rg. 10 each al a premium of Rs 2.00 per share payable as follows. On Application Rs. 2.00 On Allotment Rs. 5.00 (including premium) On First call Rs, 3.00 and balance on final call. The shaves were all subscrived and amount received on calls Except The first call on 1,000 shaves and final call on 1600 shaves give journal entries and prepare its opening balance sheet From the following information prepare the Balance sheet of shiva Co. Ltd as on 31" March 2019. _https://www.osmaniaonline.com Particulars ‘Amount Particulars ‘Amount (Rs) (Rs) [ Sharp capital = 20,00,000 | Share Premium _* 2,37,500 Debentures, 5,00,000 | Goodwill 25,000 Trade Payables 6,72,500 | Gen. Reserve 10,25,000) Cash and Bank Balancg| —_1,37,500| investments ___ 1,12,600 ‘Advances: 7,889,000 | Loss for the year 1,79,000 Advance payment of 27,500 | Trade receivables 6,12,500 Income Tax Provision for Taxation 85,000 | Provision for Doubtful 10,100 debis Closing stock 5,175,000 | Fixed Assets [__26,75,000 16. Explaii how sales Ratio and weighted time ratios are calculated Give examples 47, Explain the methods of Valuation of Goodwill 18 From the following particulars calculate the value of Equity share. 4,000 9% Preference shares of Rs. 100 each Rs. 1,00,000 20,000 Equity shares of Rs.10 each Rs. 8 per share called up and paid up Rs. 1,60,000. Expected profit per year before tax Rs. 2, 00,000 Rate of Tax 40% Transfer to General reserve every year 20% of profit Normal rate of Earnings 15% https://www.osmaniaonline.com