Loyola College B.Com Corporate & Secretaryship Nov 2008 Commercial Law Question Paper PDF Download

LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – CORPORATE SECRETARYSHIP

LA 07

 

FIFTH SEMESTER – November 2008

BC 5503 – COMMERCIAL LAW

 

 

 

Date : 07-11-08                     Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

SECTION  A

Answer ALL questions                                                                                   ( 10 x 2 = 20 )

  1. What do you understand by Fidelity guarantee?
  2. Who are co sureties?
  3. What do you understand by gratuitous bailment?
  4. What is meant by a general lien?
  5. Who is a partner at will?
  6. Is reconstitution of firm allowed? If so, under what circumstances?
  7. Write a note on consumer protection council.
  8. What is meant by value added tax?
  9. Define pledge
  10. Can a minor become a partner?

SECTION  B

Answer Any FIVE  questions                                                                                     ( 5 x 8 = 40 )

  1. What are the rights of an indemnity holder?
  2. When can a guarantee be revoked?
  3. Distinguish between bailment, pledge and mortgage.
  4. Can a non owner pledge? If so, under what circumstances?
  5. Define Partnership. What are the different kinds of partners?
  6. Under what circumstances should partnership be dissolved compulsorily?
  7. Explain the role played by consumer disputes redressal agencies.
  8. Bring out the objectives of value added tax.

SECTION  C

Answer Any TWO questions                                                                           ( 2 x 20 = 40 )

  1. Define bailment. Discuss the duties and rights of a Bailee.
  2. Examine the relationships of partners among themselves and the world at large.
  3. Discuss the provisions relating to methods of set-off of tax credit.

 

 

 

Loyola College B.Com Corporate & Secretaryship April 2009 Company Accounts Question Paper PDF Download

       LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – CORPORATE SECRETARYSHIP

IR 09

FOURTH SEMESTER – April 2009

BC 4502 – COMPANY ACCOUNTS

 

 

 

Date & Time: 24/04/2009 / 9:00 – 12:00  Dept. No.                                                  Max. : 100 Marks

 

 

SECTION-A(10 x 2 = 20 MARKS)

ANSWER ALL QUESTIONS

 

  1. Explain pro-rate allotment of shares.
  2. Explain the meaning of “Redeemable preference shares”.
  3. What is a sinking fund?
  4. What is Managerial Remuneretion?
  5. The Chennai motors Ltd issued 2,00,000 equity shares of Rs.10 each.The whole issue

was underwritten by Ramesh. Applications for 1,60,000 shares were received in all.

Determine the liability of underwriter.

  1. Joseph Ltd was incorporated on 1st may 2008 to purchase the running business of Alfred &co.,

with effect from 1st january 2008.The company obtained a certificate of commencement of

business on 24th Aug 2008.Calculate Time Ratio,if the accounts were finalised on 31st Dec.2008

  1. What is meant by Acquisition of business?
  2. How will you calculate the Cash flow from operating activities under direct method?
  3. What is liquidation of a company?

10 .Calculate the goodwill in the following case:

Goodwill is to be calculated at one year’s purchase of the last 3 years’average profit.The profit of

the first year was Rs.6000,Second year twice the profit of the first year and the third year one and

half times the profit of the second year.

 

SECTION-B(5 x 8 = 40 MARKS)

ANSWER ANY FIVE QUESTIONS

 

  1. K Ltd,purchased the business of Mani Bros for Rs.54,00,000 payable in fully paid shares of

Rs.100 each What entries will be made in the books of K Ltd.if such issue is (a) at par (b) at a

premium of 20% and (c) at a discount of 10%?

 

  1. Suresh Ltd issued 75,000 equity shares of Rs.10 each and 5000 redeemable preference shares of

Rs.100 each all shares being called and paid up on 31-3-2008.Profit & loss account showed

undistributed profits of Rs.3,00,000 and general reserve stood at Rs.2,50,000. On 1-4-2008, the

directors decided to redeem the existing preference shares  at Rs.105 utilising as much profits as

would be required for the purpose. Pass journal entries, in the books of the company.

 

  1. Mahesh Ltd issued 50,000 8%.Debentures of Rs.10 each to the public at par,to be paid Rs.4 on

application and the balance on allotment.

Applications were received for 48,000 debentures.Allotment was made to all applicants and the

amount due was received promptly.

Give journal entries to record the above transactions.

 

  1. From the following particulars of JG Ltd ,Calculate the Managerial remuneration assuming there

are two whole time directors,a part -time director and a manager.

Rs.

Net profit before provisions for income tax               8,70,410

and managerial remuneration but after depreciation

Depreciation provided in the books                           3,10,000

Depreciation allowable under schedule XIV             2,60,000

 

15 .Write a note on “Vendors Suspense Account”

  1. Draft a Balance sheet of a limited company in prescribed form as per

schedule VI of Indian Companies Act with imaginary figures.

  1. Bring out the various methods of valuation of shares.
  2. A Liquidator is entitled to receive remuneration @ 2% of the assets

realised and 3% on the amount distributed among the unsecured creditors.The assets realised

Rs.70,00,000 other details are as follows:

 

Liquidation expenses   Rs.50,000

Preferential creditors    Rs.1,50,000

Secured Creditors        Rs.40,00,000;

Unsecured Creditors     Rs.30,00,000

Prepare Liquidators final statement of Account.

       SECTION-C(2 x 20 = 40 MARKS)

ANSWER ANY TWO

 

  1. A Ltd invited applications for 10,000 shares of Rs.100 each at a discount of 5% payable as

follows:

on application  Rs.25

on allotment     Rs.34

on first & final call Rs.36

Applications were received for 9000 shares and all of these were accepted.All moneys due were

received except the first and final call on 100 shares which were forfeited.Of the forfeited

shares,50 shares were re-issued at the  rate of Rs.90 as fully paid.Show necessary journal entries in

the books  of the company.

 

  1. From the Balance sheets of MM Ltd. Make out the statement of cash flow

BALANCE SHEETS

Liabilities                      2007              2008                Assets                          2007                2008

Rs                  Rs                                                        Rs                    Rs

Equity share capital     3,00,000          4,00,000          Goodwill                     1,15,000             90,000

8% Redeemable          1,50,000          1,00,000          Land & buildings        2,00,000          1,70,000

pref.share capital

General                           40,000             70,000          Plant                               80,000          2,00,000

reserve

P/L a/c                            30,000             48,000          Debtors                       1,60,000          2,00,000

Proposed dividend         42,000             50,000          Stock                              77,000          1,09,000

Creditors                        55,000             83,000          Bills receivable               20,000             30,000

Bills payable                   20,000             16,000          Cash in hand                 15,000             10,000

Provision for                  40,000             50,000          Cash at bank                  10,000              8,000

taxation

———-          ————                                                ———          ———– –

Total                           6,77,000          8,17,000                                              6,77,000          8,17,000

———-            ———-                                                ———-            ———-

Additional information:

(a) Depriciation of Rs.10,000 and Rs.20,000 have been charged on plant a/c and Land & buildings a/c

respectively in 2008.

(b) An interim dividend of Rs.20,000 has been paid in 2008.

(c) Income -tax Rs.35,000 was paid during the year 2008.

 

  1. A company’s position on 31st march 2008 was follows:

Rs.

20,000 Equity shares of Rs.100 each           20,00,000

1,000; 12% debentures of Rs.100 each       10,00,000

Interest on above                                           1,20,000

Creditors for goods                                        5,00,000

 

The assets on that date were:

Fixed assets                                                  20,00,000

Current assets                                                 6,50,000

 

The following  scheme of reconstruction was implemented:

 

(a) The fixed assets were valued at Rs.9,60,000 and the current assets at Rs.4,80,000

(b) The shares were sub-divided into shares of Rs.5 each and 90% of the shares were surrendered.

(c) The total claims of the debenture holders were reduced to Rs.4,90,000 and in consideration of

this,they were alloted shares, out of the surrendered shares ,amounting to Rs.2,50,000.

(d)  The creditors agreed to reduce their claims to Rs.3,00,000, 1/3 of which was to be satisfied by the

issue of equity shares out of those surrendered.

(e)  The shares surrendered, but not re-issued, were cancelled.

 

Draft Journal entries and give the Balance sheet of the company after reconstuction.

 

 

Go To Main page

© Copyright Entrance India - Engineering and Medical Entrance Exams in India | Website Maintained by Firewall Firm - IT Monteur