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Assignment
B.Com IV Semester (CBCS)
Corporate Accounting (CC)
(Code : 52414403)
पूणाक : 100
M.M. : 100
Attempt any two questions in all.
All questions carry equal marks.
क ह दो न के उ र दो।
सभी न के अंक समान ह।
(Write your Name and Roll No. on each page of your answer sheet.)
(अपनी उ र पुि तका के येक प ृ ठ पर अपना नाम और रोल नंबर लख।)
Q.1. (a) BG Ltd. invited applications for 1,00,000 equity shares of ₹10 each at a premium of
₹ 2 per share payable as follows : on application ₹2.50 ,on allotment 4.50(including
premium),on first call₹2.50 and on final call ₹ 2.50 per share.
Applications were received for 1,50,000 shares and shares were allotted pro-rata to the
applicants for 1,20,000 shares and remaining were rejected.excess money paid on
application was adjusted against sums due on allotment.
A, who was allotted 200 shares ,could not pay the sums due on allotment .Shares held
by him were forfeited on his failure to apy the first call ,B, holding 300 shares ,could
not pay the two calls. The company forfeited his shares after the final call was made
.Pass entries in the journal of BG Ltd.
(b) What is minimum subscription ?How is it different from oversubscription and under
subscription. Explain and illustrate.
Q.2. A Ltd acquired the business of B Ltd on 31 March 2012 for a purchase consideration of
Rs.2,50,00,000 to be paid by fully paid equity shares of Rs.10 each. The balance sheets of
two companies on the date of acquisition were as follows:
A Ltd. B Ltd. A Ltd. B Ltd.
Equity shares 25000000 15000000 Land & 12000000 8000000
of Rs.10 each Building
fully paid
Plant & 20000000 18000000
General Machinery
Reserve 12000000 1800000
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Furniture 1000000 2000000
Development 1000000 3700000 Stock 5500000 4000000
Rebate Sundry 4500000 4000000
Reserve Debtors
P&L A/c 1000000 5300000 Bank 2000000 1700000
Workmen 1500000 2400000
Compensation
Fund
Current 4500000 9500000
Liabilities
45000000 37700000 45000000 37700000
Pass the necessary journal entries in the books of A Ltd when amalgamation is in the nature
of merger. Also prepare the Balance sheet of A Ltd after amalgamation assuming that
Development Rebate Reserve and Workmen Compensation Fund of B Ltd are required to
be continued in the books of A Ltd.
Q.3. The following are the Balance Sheets of H Ltd. and its subsidiary S Ltd. as on 31st
December 2004.
Debtors of H Ltd. include Rs 2,000 due from S Ltd. and Bills payable of H Ltd. included a
bill of Rs 500 accepted in favour of S Ltd. A Load of Rs 1,000 given by H Ltd. to S Ltd.
was also included in the items of debtors and creditors respectively. Rs 500 was transferred
by S Ltd. from Profit and Loss Account to Reserve out of current year’s profit. Shares were
purchased on 30th June 2004 at par.
Prepare consolidated Balance Sheet.
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Assignment
Q.4. The summarized balance sheet of Bhadresh Ltd. as on 31.12.05 and 31.12.2006 are as
follows:
Liabilities 2005 2006 Assets 2005 2006
Share 4,50,000 4,50,000 Fixed asset 4,00,000 3,20,000
capital 3,00,000 3,10,000 Investment 50,000 60,000
General Stock Debtor 2,40,000 2,10,000
Reserve 56,000 68,000 Bank 2,10,000 4,55,000
P & l a/c 1,68,000 1,34,000 1,49,000 1,97,000
Creditors 75,000 10,000
Tax 2,70,000
provision
Mortgage
loan
10,49,000 12,42,000
Additional Details: 1. Investment costing Rs. 8,000 were sold for Rs. 8,500 2. Tax
provision made during the year was Rs. 9,000 3. During the year part of fixed assets
costing Rs 10,000 was sold for Rs 12,000 and the profit was included in P & L A/c. You
are required to prepare cash flow statement for 2006.
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