Loyola College Question Paper 2012

Loyola College B.Com April 2012 Advanced Corporate Accounting Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

SIXTH SEMESTER – APRIL 2012

CO 6606 – ADVANCED CORPORATE ACCOUNTING

 

 

 

Date : 20-04-2012              Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A

Answer ALL Questions:                                                                                           (10 x 2 =20 marks)

 

  1. What is ‘Reinsurance’?
  2. What is rebate on bills discounted?
  3. Write a short note on ‘Minority Interest’.
  4. Mention any two features of double account system.
  5. Distinguish between ‘Net Assets’ and ‘Intrinsic value’.
  6. Sadan Ltd. agrees to purchase the business of Krish Ltd. on the following terms :
  7. For each of the 10,000 shares of Rs.10 each in Krish Ltd. 2 shares in Sadan Ltd. of Rs.10 each will be issued at an agreed value of Rs.12 per share.  In addition Rs.4 per share cash also will be paid.
  8. 8% Debentures worth Rs.80,000 will be issued to settle Rs.60,000 9% debentures in Krish Ltd.
  9. 10,000 will be paid towards purchase consideration.

Calculate purchase consideration.

  1. Calculate the net claim to be shown in the Revenue account of an Insurance Company :

Claims paid during year ended 31st March 2010                    Rs.5,60,000

Claims outstanding on 1.4.2009                                                     52,000

Claims outstanding on 31.3.2010                                                   92,000

Claims covered under re-insurance                                                 25,000

  1. The trial balance of a bank as on 30th June 2010 shows the following balances :

Interest and discount                          Rs. 45,40,600

Rebate on bills discounted(1.7.2009)             4,750

Bills discounted and purchased                 3,37,400

The unexpired discount as on 30th June 2010 is estimated to be Rs.5,560.  Calculate the amount of interest and discount to be credited to Profit and Loss account.

  1. H Ltd. purchased 75% shares in S Ltd. on 1.7.2010. On 31.12.2010 the balance sheet of S Ltd.  showed reserve fund balance on 1.1.2010 Rs.40,000, profit earned during 2010 Rs.60,000 and preliminary expenses unwritten off  20,000.  Calculate capital profits and Revenue profits.
  2. Ascertain the amount to be capitalized from the following particulars, under double account system :

Original cost of an asset                                  Rs.3,00,000

Present cost or replacement cost                          3,90,000

Amount spent for replacement                            4,70,000

PART – B

 

    Answer any FIVE Questions:                                                                             (5 x 8 =40 marks)

 

  1. What is Valuation Balance sheet ?   Explain the need for  preparing the same and state how the surplus is dealt with.
  2. Explain any 8 schedules to be prepared by a commercial bank.
  3. Distinguish between ‘Net Assets’ and ‘Net Payments’ as basis for computation of purchase consideration.
  4. The life fund of a Life Insurance Company on 31.12.2010 showed a balance of Rs.54,00,000. However the following items were not taken into account while preparing the revenue account for 2010. Ascertain the correct life fund balance.
  5. Interest and dividends accrued on investments                          20,000
  6. Income tax deducted at source on the above        6,000
  7. Reinsurance claims recoverable        7,000
  8. Commission due on reinsurance premium paid       10,000
  9. Bonus in reduction of premiums         3,000
  10. On 31st March 2010 a bank held the following bills, discounted by it earlier :

Date of bill 2010         Term of bill month      Discounted %             Amount of bill

  1. 17 4                                  17                    7,30,000
  2. 7 3                                  18                    14,60,000
  3. March 9 3                                  5                 3,64,000

You are required to calculate the rebate on bills discounted .  Also show the necessary Journal entry for the rebate.

  1. The Balance Sheets of Cee Ltd and Dee Ltd. as at 31st December 2010 are as follows :

Liabilities                                            Cee Ltd. Rs.               Dee Ltd.   Rs.

Share capital (in shares of Rs.10 each)           2,00,000                      1,00,000

General reserve                                                  18,000                         20,000

Profit and loss account                                      24,500                         23,000

Creditors                                                            30,000                         15,200

__________________________

2,72,500                      1,58,200

__________________________

Assets

Sundry assets                                                  1,32,500                      1,38,200

Goodwill                                                              –                                  20,000

Shares in Dee Ltd. at cost                               1,40,000                                  –

__________________________

2,72,500                      1,58,200

__________________________

In the case of Dee Ltd.profit for the year ended 31st December 2010 is Rs.12,000 and

transfer to general reserve is Rs.5,000.  The holding of  Cee Ltd. in Dee Ltd. is 90%

acquired on June 30th 2010.

Prepare a consolidated Balance sheet of Cee Ltd. and its subsidiary.

  1. City Electricity Ltd. earned a profit of Rs.8,45,000 during the year ended 31st March 2010 after debenture interest at 71/2% on Rs.2,50,000. With the help of the information given below, show the disposal of profits :

Original cost of fixed assets                                       1,00,00,000

Formation and other expenses                                         5,00,000

Monthly average of current assets (net)                         25,00,000

Reserve fund (represented by 4% Govt.securities)       10,00,000

Contingencies reserve fund investments                         2,50,000

Loan from Electricity board                                          15,00,000

Total depreciation written off to date                                       20,00,000

Tariff and dividend control reserve                                    50,000

Security  deposits received from customers                    2,00,000

Assume bank rate to be 6%.

  1. AKS Railway Company decided to replace the old main with a new main at an estimated Cost of Rs.50,00,000.  The cost of old main was Rs.10,00,000 in 2000 the built.  Due to inflation the cost of laying including materials, labour and other expenses is doubled.  The sale of old materials is Rs. 40,000 and the old materials reused in the new main is estimated Rs.60,000.  Pass necessary Journal entries in the books of AKS Railway Company.

 

PART – C

    Answer any TWO Questions:                                                                              (2 x 20 =40 marks)

  1. From the following , you are required to prepare the Profit and loss account and the Balance sheet of Madras Bank Ltd. as on 31.12.2010 according to Banking Regulation Act 1949 :

Trial balance as on 31.12.2010

                                    Debit                           Credit

                                    ( Rs.     in thousands )

Issued capital :

20,000 shares of Rs.100 each                                                                         2,000

Money at call and short notice                                    800

Reserve fund                                                                                                      700

Cash in hand                                                               650

Deposits                                                                                                          2,500

Cash at bank                                                               950

Borrowings from SBI                                                                                        500

Investment in govt. securities                                     900

Secured loans                                                            1,500

Cash credits                                                                500

Premises less depreciation                                           580

Furniture less depreciation                                          120

Rent                                                                                5                                  60

Interest and discount                                                                                        800

Commission and brokerage                                                                                 70

Interest paid on deposits                                             300

Salary and allowances to staff                                                150

Interest paid on borrowings                                          50

Audit fees                                                                     10

Director’s fees                                                                 8

Non-banking assets                                                       80

Depreciation on bank’s property                                   13

Printing                                                                           3

Advertisement                                                                            1

Stationary                                                                        5

Postage and telegrams                                                                2

Other expenses                                                                3

 

6,630                           6,630

Adjustments :

  1. Provide Rs.20,000 for doubtful debts
  2. Provide Rs.10,000 on bills discounted but not matured on 31.12.2010
  3. Acceptances and endorsements on behalf of customers amounted to Rs.4,00,000
  4. Provide Rs.60,000 for taxes.
  5. Hon Ltd. purchased 750 shares in Sen Ltd. on 1.7.2010. The following were their Balance Sheets on 31.12.2010  :

Liabilities                                                        Hon Ltd. (Rs.)            Sen Ltd. (Rs.)

Sharecapital – Shares of Rs.100 each             3,00,000                      1,00,000

General reserve 1.1.2010                                1,00,000                         70,000

Profit and loss account                                   1,00,000                         60,000

Creditors                                                            80,000                         40,000

Bills payable                                                       50,000                         20,000

Current Account :

Hon Ltd.                                                                     –                          20,000

 

6,30,000                      3,10,000

 

 

Assets

Buildings                                                         2,05,000                      1,25,000

Stock                                                               1,00,000                         80,000

Debtors                                                           1,00,000                         40,000

Investments in Sen Ltd.                                  1,00,000                                  –

Bills receivable                                                   40,000                         45,000

Cash at bank                                                      60,000                         20,000

Current Account :

Sen Ltd.                                                             25,000                                  –

__________________________

6,30,000                      3,10,000

 

Additional information :

  1. Bills receivable of Hon Ltd. include Rs.10,000 accepted by Sen Ltd.
  2. Debtors of Hon Ltd. include Rs.20,000 payable by Sen Ltd.
  3. A cheque of Rs.5,000 sent by Sen Ltd. on 28th December was not yet received by Hon Ltd. on 31st December 2010.
  4. Profit and loss account of Sen Ltd. showed a balance of Rs.20,000 on 1.1.2010.

You are required to prepare a consolidated Balance Sheet of Hon Ltd. and Sen Ltd. as on 31.12.2010.

 

  1. The Balance sheet of Jai Ltd and Hai Ltd. as on 31.3.2011 were as follows :

Liabilities                                                        Jai Ltd. (Rs.)              Hai Ltd.(Rs.)

Share capital :

Shares of Rs.100 each                                     5,00,000                      –

Shares of Rs.10 each                                                   –                       4,00,000

Capital reserve                                                1,00,000                      –

General reserve                                                  35,000                      4,00,000

Secured loan                                                               –                       2,50,000

Unsecured loan                                               1,00,000                                  –

Sundry creditors                                             1,55,000                      1,80,000

__________________________

8,90,000                      12,30,000

Assets

Goodwill                                                            40,000                      –

Fixed assets                                                     4,00,000                      8,00,000

Cash at bank                                                               –                       1,00,000

Other current assets                                        4,50,000                      3,30,000

 

8,90,000                      12,30,000

It was proposed that Jai Ltd. should be taken over by Hai Ltd.  The following arrangements were accepted by both the companies.

  1. Goodwill of Jai Ltd. is considered worthless.
  2. Arrears of depreciation in Jai Ltd. amounted to Rs.20,000.
  3. The holder of every 2 shares in Jai Ltd. was to receive: as fully paid , at par 10 shares in Hai Ltd. and so much cash as is necessary to adjust the rights of shareholders of both the companies in accordance with the intrinsic values of the shares as per their Balance sheets after the adjustments mentioned above.

You are required to : Determine the purchase consideration and show the Balance Sheet of Hai Ltd. after the absorption, if the amalgamation is in the nature of purchase.

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Loyola College B.Com Nov 2012 Marketing Management Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FIFTH SEMESTER – NOVEMBER 2012

CO 5503 – MARKETING MANAGEMENT

 

 

 

Date : 08/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

PART – A

 

Answer ALL questions:                                                                                  (10 x 2 = 20 marks)

 

  1. Define Marketing.
  2. What is ‘Consumer Market’?
  3. What is ‘Adoption Process’?
  4. What do you understand by Product Mix?
  5. What is ‘Odd Pricing’?
  6. What is ‘Franchising’?
  7. Write a short note on ‘Marketing Communication’.
  8. Distinguish between ‘advertising’ and ‘salesmanship’.
  9. What is ‘Competitor Analysis’?
  10. What is “Socially responsible marketing”?

PART –B

 

Answer any FIVE questions:                                                                          (5 x 8 = 40 marks)

 

  1. Write a note on global Market Environment.
  2. Explain the four elements of marketing mix.
  3. What are the features of product Life Cycle?
  4. Explain the role of packaging as a silent salesman.
  5. What are the objectives of pricing?
  6. Explain the services rendered by the retailers.
  7. State briefly the functions of marketing management.
  8. What qualities should be possessed by a good advertisement copy?

PART – C

 

Answer any TWO questions:                                                                        (2 x 20 = 40 marks)

 

  1. Explain the steps involved in developing an effective communication campaign.
  2. What are the factors to be considered for pricing the product? Describe using examples.
  3. Describe the various types of Market Segmentation.

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Loyola College B.Com Nov 2012 Personal Investment Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FIFTH SEMESTER – NOVEMBER 2012

CO 5401 – PERSONAL INVESTMENT

 

 

Date : 10/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

PART – A

ANSWER ALL QUESTIONS:                                                                                                  (10 x2=20)

 

  1. What is personal investment?
  2. Expand the following terms: (a) FVIFA (b) YTM (c) ETF (d) SIP
  3. List out any four risk involved in gambling.
  4. Why do investors add insurance into their portfolio?
  5. What do you understand by bonus shares?
  6. Define risk.
  7. Distinguish between bull and bear markets.
  8. What is meant by investment in arts and antiques?
  9. Calculate the value of a deposit of Rs.5000 today @12% p.a. at the end of two years, if compounding is done quarterly.
  10. Calculate the CAPM return of an investment whose Risk Free Return is10%, Market Return is 30% and Beta is 0.6.

 

Part – B

ANSWER ANY FIVE QUESTIONS:                                                                                          (5 x8=40)

 

  1. Elucidate the objectives of personal investment.

 

  1. Give an account of investment information available to an investor.

 

  1. Bring out the advantages and disadvantages of investment in gold.

 

  1. What is meant by CAPM? Bring out its basic assumptions.

 

  1. How do you classify mutual funds? Briefly explain the various types of mutual funds.

 

  1. Chennai Benefit Fund promises you Rs.30,000 at the end of 7 years for an investment of Rs.10000 today. Compute the actual rate of return offered to you.

 

  1. Arun wants to buy IOB stock and hold on it for four years. He estimates that Rs.4.50 dividend would be paid by IOB consistently for the said period and he wishes to sell the shares for Rs.100 at the end of the fourth year. Compute the present price of IOB, if Arun expects a return of 10%.

 

 

 

  1. From the following information, you are required to calculate the expected returns of investments in A & B with equal probabilities:
Probabilities Investment A Investment B
0.2 -10% 3%
0.1 2% 5%
0.4 15% 10%
0.3 28% 16%

 

Part – C

ANSWER ANY TWO QUESTIONS:                                                                                (2 x20=40)

 

  1. How do systematic and unsystematic risks affect the investments?

 

  1. Explain the following investment alternatives available in India.
  • Equity Shares (b) IVP (c) Bank Deposits (d) Commercial Papers (e) Real Estate

 

  1. Discuss the risk involved in bond. Give suitable examples.

 

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Loyola College B.Com April 2012 Accounts And Business Applications Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMPUTER SCI.

FOURTH SEMESTER – APRIL 2012

CO 4206 / 4203 – ACCOUNTS AND BUSINESS APPLICATIONS

 

 

Date : 19-04-2012              Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

 

SECTION – A

Answer all the questions:                                                                                                           (2×10=20)

  1. Explain the term “Depreciation”.
  2. What is error of principle?
  3. Give any four examples of fixed asset.
  4. State the rules of accounting.
  5. Identify the type of account: a) Machinery b) cash   c) Indian bank   d) Commission.
  6. In cash flow statement
  7. a) Purchase of machinery is treated as ____________ activity.
  8. b) Repayment of loan is treated as ________________ activity.
  9. A company purchased a plant for Rs.1,50,000 and it immediately spend Rs.5000 on installation. The useful life of the plant is 10 years and the residual value is Rs.15,000. Find out the rate of depreciation.
  10. Prepare single column cash book. Cash in hand = Rs.20,000         Interest received = Rs.4,000 Paid rent = Rs.5,000                  Cash sales = Rs.10,000                       purchased goods = Rs.12,000 Paid Robin = Rs.1,500
  11. Calculate Earnings per share. Net profit after tax = Rs.2,00,000                                                       preference dividend = Rs.30,000      of equity share = 10,000.
  12. Prepare trial balance. Purchase = Rs.20,000          sales = Rs.1,00,000                                                capital = Rs. 2,50,000 salary = Rs.40,000             machinery = Rs.2,00,000                            goodwill = 50,000               furniture = 40,000

 

SECTION – B

Answer any five questions:                                                                                                     (8×5=40)

 

  1. Explain the merits of cash flow statement.

 

  1. Explain the groups interested in accounting information.

 

  1. On 1st July 2008 a firm purchased a machinery for Rs.2,50,000. On 1st October 2008 additional machinery costing Rs.1,00,000 was purchased.  On 31st December 2010 the machinery purchased on 1st July 2008 having become obsolete, was sold off for Rs.1,65,000.  The firm provides depreciation on its machinery @ 10% per annum on written down value on 31st December every year.  Show machinery account for the period 2008 – 2010.

 

  1. A petty cash book is kept on imprest system and the amount of imprest is Rs. 3,500. Prepare petty cash book for the month of June 2010 from the following items:
Date Particulars Amount Rs.
June 1 Petty cash in hand    500
        2 Received cash to make up imprest 3,000
        3 Paid for Taxi fare    360
        5 Paid telegram    120
        8 Refreshment to customers    290
      12 Paid Courier charges      50
      13 Writing pad and registers    740
      18 Wages paid for Office cleaning    160
      22 Speed post      43
      24 Advance given to salesman    900
      26 Telephone charges    471
      27 Printing expenses    325
      28 Railway freight    243
      29 Paid office expenses      93
      30 Purchased stamps      20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  1. Prepare a bank reconciliation statement from the following data as on 30.11.2011.
  2. a) Overdraft balance as per pass book as on 30.11.2011 Rs.19,500
  3. b) Cheque issued to a supplier but not presented for payment Rs.2,250.
  4. c) A cheque of Rs.2,300 deposited into bank but not yet cleared and credited.
  5. d) Interest on investments collected by bank and credited in pass book 1,340.
  6. e) A customer, Mr. Shyam has paid cash into bank directly a sum of Rs. 5,500 which has

not been entered in the cash book.

  1. f) Insurance premium of Rs.3,500 paid by the bank as per standing instructions were not

entered in the cash book.

  1. g) Interest credited by the bank Rs.500
  2. h) Bill receivable which was discounted with the bank was dishonoured and bank

had debited Rs.3,050.

 

 

  1. Enter the following transactions of M/s. Janaki & sons in the journal

January 2012

3        Opened an account with Indian bank Rs.10,000

4        Bought goods from Rajan & co Rs.22,000

7        Purchased furniture for Rs.2,000

9        Received dividend by cheque Rs.3,500

13      Sold goods to Alfred for cash Rs.18,000

17        Settled Rajan & co’s account with cash Rs. 21,500

21        Withdrew from bank for personal use Rs.4,500

30        Paid salary Rs.15,000

 

  1. Record the following transactions for the month of February 2010 in the proper subsidiary books of M/s Gupta & sons:

Feb 2 Purchased from M/s Breeze electronics:

30 Digital diaries @ Rs. 2000 each

10 DVDs@ Rs. 30 each

Feb8  Sold to M/s Ramesh & co:

3 dozen notebooks @ Rs. 20 each less trade discount 5%

25 calculators @ Rs. 100 each less trade discount 2%

Feb11 Send a Debit note No.28 to M/s Breeze electronics for Rs. 3,000

Feb13 Purchased from Harish & co stationery worth Rs.1000 for cash.

Feb19 Returned 10 notebooks and 3 calculators to M/s Ramesh & co.

Feb22 Sold old computer to Satyam computers for Rs.11,000.

Feb24 Purchased from Chandini & co:

12 bags of sugar @Rs. 2,500 per bag at a trade discount of 10%, as per  invoice No.8

Feb26 Purchased Furniture from Style furniture & co for cash Rs23,000.

Feb27 Returned damaged 2 bags of sugar to Chandini & co.

Feb28 Sold to M/s Damro & co:

10 bags of rice @Rs.1,200 per bag and 5 bags of sugar @ Rs. 2,700 per bag as per     invoice No. 23

 

  1. The following errors were found in the book of Tim & sons. Give the necessary entries to rectify them:
  2. a) 4000 paid for furniture purchased has been charged to purchases account.
  3. b) 500 received from Seetha & co has been wrongly entered as from Geetha & co
  4. c) Paid wages for the construction of building debited to wages account Rs.6,000
  5. d) A credit sales of goods Rs.1000 to James has been wrongly passed through the

purchase book.

 

SECTION – C

Answer any two questions:                                                                                    (20×2=40)

 

  1. From the following trial balance of Mr. Gabriel Prepare Trading Profit & Loss A/c and Balance sheet for the year ended 31-12-2009

 

Particulars Debit

Rs.

 Credit

Rs.
Sundry debtors

Plant & machinery

Interest

Rent , rates & taxes

Freight

Wages

Sales returns

Purchases

Opening stock

Drawings

Direct expenses

Salaries

Advertising

Discount allowed

Bad debts

Furniture & fittings

Cash in hand

Bills receivable

Capital

Purchase returns

Sales

Sundry Creditors

Bank overdraft

Bills payable

 92,000

20,000

430

5,600

1,320

7,000

5,400

1,50,000

60,000

22,000

1,350

11,200

840

600

800

10,000

2,060

12,000

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

70,000

2,600

2,50,000

60,000

8,000

12,000
  4,02,600 4,02,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments:

  1. a) Stock on hand as on 31-12-2009 1,00,000
  2. b) Provide depreciation on Furniture & fittings at 10%
  3. c) Outstanding rent was Rs.500
  4. d) Write off Rs. 800 as further bad debts
  5. e) Prepaid salaries Rs.500

 

  1. From the following Balance Sheet of Sheela Ltd as on 31-12-2006, Calculate:

(a) Current ratio                   (b) Quick ratio                                (c) Fixed asset turnover ratio                                  (d) Debt equity ratio      (e) Creditors turnover period      (f) Stock turnover ratio                                       (g)  Selling & distribution expenses ratio                 (h) Gross profit ratio

(i) Operating profit ratio                                          (j) debtors turnover ratio

 

Liabilities Rs. Assets Rs.
Equity share capital

6% Preference share capital

General reserve

Profit & Loss A/c

Bills payable

12% debentures

Creditors

Outstanding expenses

Bank overdraft

 10,00,000

5,00,000

1,00,000

4,00,000

1,24,000

5,00,000

1,20,000

76,000

80,000

 

 Plant & Machinery

Land & Buildings

Furniture

Closing Stock

Bills receivable

Cash at bank

Sundry debtors

Prepaid expenses

 9,00,000

8,00,000

2,00,000

6,00,000

30,000

2,00,000

1,50,000

20,000
  29,00,000   29,00,000

 

 

 

 

 

 

 

 

 

 

 

     Additional information:

Gross profit = Rs.2,50,000                                  Sales = Rs.6,00,000

Opening stock = Rs.1,00,000                               Purchases = Rs.2,00,000                          Selling & distribution expense =Rs.50,000         Cash purchases=Rs.50,000

Administration expense =Rs. 10,000                   Sale returns = Rs.20,000

 

  1. Enter the following transactions in three-column cash book of Mr. Abishek for the month of March 2011

March 2011                                                                 Rs.

1     Cash balance                                                 26,000

Bank balance (cr)                                          16,000

5     Paid rent by cheque                                        4,000

8     Withdrew cash for personal use

from the bank                                                  2,250

10     Sunil settled his account for Rs.1,200

by giving a cheque for                                                1,150

15     Purchased machinery by cheque                     3,600

17     Cash paid into bank                                        7,000

18     Received cheque from Kannan and

deposited into bank immediately                    2,250

20     Purchased goods for cash                               5,500

23     Sold goods to Mohan on credit                      3,000

24     Cash sales                                                        7,000

25     Paid cash to Shyam                                         1,850

Discount received from him                                50

29     Mohan settled his account in full by giving    2,900

31     Paid salary by cheque                                     6,000

 

 

 

 

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Loyola College B.Com April 2012 Auditing Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

SIXTH SEMESTER – APRIL 2012

CO 6607 – AUDITING

 

 

 

Date : 23-04-2012              Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A

 

Answer ALL questions:                                                                                        (10 x 2 = 20 marks)

 

  1. What do you mean by auditing?
  2. Write a note on periodical audit.
  3. What is internal audit?
  4. Write short notes on test checking.
  5. Give any two objectives of internal check.
  6. Define the term ‘vouching’.
  7. What is an audit report?
  8. Give any two examples for contingent liabilities.
  9. Who can be appointed as an auditor?
  10. What is an audit note book?

PART – B

 

Answer any FIVE questions:                                                                              (5 x 8 = 40 marks)

 

  1. Distinguish between an error and a fraud in the books of business.
  2. “An auditor is a watch-dog” – Discuss briefly.
  3. State the advantages of an audit programme.
  4. What is internal control? State its inherent limitations.
  5. Discuss the duties of an auditor in respect to verification of purchase ledgers.
  6. Briefly explain the basis of valuation of assets.
  7. What do you mean by First Auditors? Discuss briefly.
  8. Write short notes on
  • Bad debts (b) Deferred Revenue expenditure.

PART – C

 

Answer any TWO questions:                                                                               (2 x 20 = 40 marks)

 

  1. “Auditing begins where accountancy ends” – Discuss.
  2. What are the essential features of a good system of internal check? Also state the position of an auditor in relation to such a system.
  3. As an auditor, how would you proceed to vouch
  • Sales ledger (b) Cash book.

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Loyola College B.Com Nov 2012 Management Accounting Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.com., DEGREE EXAMINATION –  COMMERCE

SIXTH SEMESTER – NOVEMBER 2012

CO 6605- MANAGEMENT ACCOUNTING

 

 

 

Date : 01/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

PART A

 

Answer ALL questions                                                                                            (10×2=20 marks)

 

  1. What is margin of safety?

 

  1. What do you mean by Limiting factor?

 

  1. State the formula for Earnings per share and Price Earnings ratio.

 

  1. Fill in the blanks:
  2. a) Labour cost variance is sub-divided into …………….variance and ………..variance.
  3. b) …………..minus Fixed cost is profit.

 

  1. State whether the following statements are TRUE or FALSE.
  2. a) Profit volume ratio  will change if the quantity sold changes.
  3. b) Machinery purchased and paid for in shares will affect fund flow statement.

 

  1. Budgetted fixed overheads Rs,40,000, budgeted production 20,000 units. Actual fixed overheads Rs.48,000; Actual production Rs.19,000. Calculate overhead volume and expenditure variance.

 

  1. Credit sales for January, February and March are Rs.1 lakh, Rs.1.20 lakhs and Rs.1.50 lakhs respectively. 20% of debtors are collected in the month of sales. 30% in the month following the sales and 50% in the second month following the sales. Calculate the amount collected from the debtors in the month of March.

 

  1. A Ltd reports the following data relating to debtors:

Net credit sales during 2006                        Rs.31 lakhs

Debtors on 31/12/2006                             Rs.4,16,000

Compute accounts receivable turnover and the collection period.  (No. of days 365)

 

  1. Budgetted production and overhead cost for two capacity levels are given below:

Budgetted productions Units                     2000             3000

Indirect material (Rs.)                            10000           15000

Depreciation                                         4000             4000

Maintenance                                         2000             2200

Calculate overhead cost for a production of 5000 units.

 

  1. Sales Rs.2,00,000; Cost of goods sold Rs.1,20,000; Operating expenses Rs.40,000. Calculate operating ratio and operating profit ratio

 

PART  B

 

Answer ANY FIVE questions                                                                     Marks:5×8=40

 

  1. Discuss the merits and limitations of Ratio Analysis.

 

  1. Distinguish between Management Accounting and Financial Accounting.

 

 

  1. The following data for the quarter ended 31st March 2012 is given to you:

Budgetted production 4000 units, Material Rs.20,000, Wages Rs.32,000, Factory overheads Rs.36,000 (4/9 fixed). It is anticipated that production will increase by 25% in the second quarter. Material prices are expected to reduce by 50p per unit. Labour rates are expected to increase by Rs.1.50 per unit. Fixed overheads remains constant, but Variable overheads is expected to increase by Re.1 per unit. Prepare a Production Cost Budget for the second quarter of 2012.

 

  1. From the following P/L statement compute fund from operations:

Sales                                                   Rs.60,000

Dividend received                                  Rs.  3,000

Interest on investments                          Rs.  3,000

Total income                                         Rs.66,000

Less: expenses:

Purchases               Rs.50,000

Salaries                  Rs.  7,000

Depreciation            Rs.  2,000

Goodwill w/o            Rs.  1,000

Preliminary expenses Rs.    500

Discount on shares    Rs.  1,500

Total expenses                                      Rs.70,000

Net loss                                               Rs.  4,000

 

  1. The following details relate to two products A and B.

A                 B

Selling price per unit(Rs.)              200              500

Material at Rs.20/kg                      40                160

Labour at Rs.10/hour                    50                100

Variable overheads (Rs.)               20                40

The total fixed overheads are Rs.50,000. Comment on the profitability of each product when,

  1. a) raw material is in short supply.
  2. b) sales in quantity is limited.
  3. c) if the company has only 4000 kgs of raw material and the maximum demand of product A is 1000 units and that of B is 1800 units, determine the most profitable sales mix and the profit for that level of sale.

 

  1. Prepare a Balance sheet from the following data:

Gross profit ratio                                   20%

Debtors turnover                                   6 times

Fixed assets to Shareholders’ funds           0.80

Reserves to Capital                                0.50

Current ratio                                         2.50

Liquid ratio                                           1.50

Net working capital                                Rs.300000

Stock turnover ratio                               6 times

 

  1. The following is budgeted cost per unit for the production of 5000 units at 50% capacity.

Material                                    Rs.20

Labor                                       Rs.10

Factory overheads                      Rs.  5 (20% fixed)

Administration overheads              Rs.  4 (fixed)

Selling overheads                        Rs.  2 (40% variable)

Prepare a budget for a production of 8,000 units and calculate the budgeted profit, if the selling price is Rs.50 per unit.

  1. Draw a Material Procurement Budget (in quandities) From the following information:

Estimated Sales of a product 40,000 units.  Each unit of the product requires 3 units of material

‘A’ and 5 units of material ‘B’ .

 

Opening stock (units) Closing stock (units)
Finished Stock 5,000 7,000
Material A 12,000 15,000
Material B 20,000 25,000
Materials on order:

A:

B:

  

7,000

11,000

  

5,000

10,000

PART  C

 

Answer ANY TWO questions                                                                     Marks:2×20=40

 

  1. The sales and profit of M Ltd for 2 years were as follows:

Year                       Sales(Rs.)                         Profit(Rs.)

2006                      1,50,000                             20,000

2007                      1,70,000                              28,000

Assuming that selling price per unit, variable cost per unit and the total fixed cost for the two years remain the same, calculate:

  1. PV ratio
  2. Break even sales
  3. Sales to earn a profit of Rs.40,000
  4. Profit when sales are Rs.2,60,000
  5. Margin of safety when profit is Rs.50,000
  6. New break even sales when selling price is reduced by 20%.

 

  1. The standard cost for manufacturing 100 kgs of product X consist of:

Material  A 80 kgs at Rs.2.50 per kg.

Material B 20 kgs at Rs.4 per kg

Material C 20 kgs at Re.1 per kg

During the month of January, 2000 kgs of Product X were produced.  The actual materials used were as follows:

Material A 1,500 kgs at Rs.2.40 per kg

Material B 400 kgs at Rs.4.20 per kg

Material C 500 kgs at Rs.1.10 per kg

Calculate material variances.

 

  1. The following are the Balance Sheets of ABC Ltd.

 

  31/12/2010

Rs.

 31/12/2011

Rs.

 31/12/2010

Rs

 31/12/2011

Rs.
Share capital

P/L Account

Term Loans

Creditors

Tax provision

Prop. dividend

  3,00,000

4,90,000

5,00,000

70,000

86,000

24,000

14,70,000

  3,50,000

6,96,000

2,00,000

58,000

1,02,000

30,000

14,36,000

 Fixed Assets

Investment

Stock

Debtors

Bank

Cash

 13,36,000

20,000

20,000

33,000

50,000

    11,000

14,70,000

 

 12,78,000

–

24,000

57,000

44,000

     33,000     

14,36,000

 

 

  1. a) Depreciation on Fixed assets provided during the year Rs.110,000.
  2. b) A fixed asset whose Book Value is Rs.25,000 was sold for Rs.12,000.
  3. c) Income tax paid during the year was Rs.75,000.
  4. d) Interim dividend paid during the year Rs.25,000.
  5. e) Proposed dividend of 2010 was paid in 2011
  6. f) Investments were sold for Rs.25,000

Prepare Fund Flow Statement.

 

 

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Loyola College B.Com Nov 2012 Labour Laws Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com., B.B.A., B.A. DEGREE EXAMINATION – COMMERCE, BUSIN. ADMIN. ECO.

FOURTH SEMESTER – NOVEMBER 2012

BC 4200 – LABOUR LAWS

 

 

Date : 01/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

SECTION – A

Answer ALL the questions :                                                                                        (10 x 2 = 20 marks)

 

  1. Who is an ‘occupier’ of a factory as per the Factories Act, 1948?
  2. A is the owner of a concern manufacturing Cigars. 20 persons are employed in the concern. Of these 20 employees, one is a graduate for supervising the work and another an apprentice learning work. The remaining 18 are employed not on the time wage system, but on the piece work system. Is the concern a factory under the Factories Act, 1948?
  3. What is meant by ‘Doctrine of common employment’?
  4. State the formula for calculating the amount of compensation in case of death and permanent total disablement of a workman resulting from an injury.
  5. What do you mean by the term ‘unfair labour practice’?
  6. What is lay-off of a workman?
  7. What is the object of the Industrial Employment (Standing orders) Act, 1946?
  8. Specify any two pre-requisites for certification of standing orders.
  9. A worker lost his mental balance as a result of an injury by accident while working in the factory and committed suicide. Is the employer liable to pay compensation?
  10. What is the effect of supersession of the Employees’ State Insurance Corporation?

 

SECTION – B

Answer any FIVE questions:                                                                                        (5 x 8 = 40 marks)

 

  1. Explain briefly any eight rules relating to ‘Annual leave with wages’ as per the Factories Act, 1948.
  2. What are the rules regarding workmen’s compensation?
  3. List any eight unfair labour practices on the part of employers and trade unions of employers.
  4. What are the requisites regarding payment of compensation to a workman who is laid-off?
  5. What are the matters to be provided in standing orders?
  6. State the procedure for certification of standing orders.
  7. Explain any eight rules regarding contribution as per the ESI Act 1948.
  8. What are the powers and duties of the standing committee and the medical benefit council as per the ESI Act 1948?

 

SECTION – C

Answer any TWO questions:                                                                                      (2 x 20 = 40 marks)

 

  1. Explain the provisions relating to welfare and health of workmen as per the Factories Act, 1948.
  2. Discuss the general provisions regarding benefits to employees.
  3. Describe the Adjudication machinery for settlement of industrial disputes under the Industrial Disputes Act, 1947.

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Loyola College B.Com Nov 2012 Industrial Relations Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – ECONOMICS & SOCIOLOGY

THIRD SEMESTER – NOVEMBER 2012

CO 3203 – INDUSTRIAL RELATIONS

 

 

Date : 11/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

SECTION – A

 

Answer ALL questions:                                                                                                (10 x 2 = 20 marks)

 

  1. What do you mean by employee discipline?
  2. How are Trade Unions registered?
  3. List out the benefits of collective bargaining.
  4. What is Industrial Dispute?
  5. Define Lockout.
  6. Explain the term ‘Workman’.
  7. What is a strike?
  8. Who is a Conciliation officer?
  9. Define ‘Grievance’.
  10. Explain Works Committee.

 

SECTION – B

Answer any FIVE questions:                                                                                         (5 x 8 = 40 marks)

 

  1. Explain the approaches to employee discipline.
  2. Briefly explain the factors influencing workers participation in management.
  3. Distinguish between Adjudication and Collective Bargaining.
  4. Explain the significance of good Industrial Relations.
  5. Discuss the qualities and attributes which members of negotiating team must possess.
  6. Explain the new activities which trade unions can undertake in future.
  7. Briefly discuss the essentials of a good disciplinary system.
  8. Why has collective bargaining not flourished in India?

 

 

SECTION – C

Answer any TWO questions:                                                                                       (2 x 20 = 40 marks)

 

  1. Explain in detail the causes for employee grievance in an organization.
  2. Discuss the reasons for Poor Industrial Relations and give suggestions to improve the same.
  3. Explain in brief the rights and liabilities of registered Trade Unions.

 

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Loyola College B.Com Nov 2012 Indian Banking Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FIFTH SEMESTER – NOVEMBER 2012

CO 5500 – INDIAN BANKING

 

 

 

Date : 01/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

PART – A

 

Answer ALL questions:                                                                                        (10 x 2 = 20 marks)

 

  1. What is venture capital?
  2. Who is an underwriter?
  3. Define Cheque.
  4. What is ‘ATM’?
  5. What is a ‘stale’ cheque?
  6. What is hypothecation?
  7. What is moral suasion?
  8. What is cash credit?
  9. What is a debit card?
  10. What is bank rate?

 

PART – B

 

Answer any FIVE questions:                                                                                (5 x 8 = 40 marks)

 

  1. What are the functions of commercial banks?
  2. Explain the limitations of credit creation.
  3. Explain the relationship between the banker and customer.
  4. What are the points to be considered by the banker before honouring a cheque?
  5. Explain the different kinds of endorsements.
  6. Discuss the functions of merchant banking.
  7. Explain the duties of a collecting banker.
  8. Examine briefly the monetary policies of RBI.

 

PART – C

 

Answer any TWO questions:                                                                               (2 x 20 = 40 marks)

 

  1. What are the major criteria that the banker has to take into account while granting a loan for a project?
  2. Describe and evaluate the various activities under E-banking.
  3. What are the key function of the Reserve bank of India? Comment on the Importance of SEBI guildlines.

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Loyola College B.Com Nov 2012 Insurance Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FIFTH SEMESTER – NOVEMBER 2012

CO 5400 – INSURANCE

 

 

Date : 10/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

SECTION-A

Answer all the questions:                                                                                                               (10×2=20)

 

  1. What is the contractual definition of Insurance?
  2. What is Jettison?
  3. What is Constructive total loss?
  4. What is Hull insurance?
  5. Define Marine insurance
  6. What is insurable interest?
  7. What is Reversionary bonus?
  8. What is Surrender value?
  9. What is Burglary Insurance?
  10. What is Pure Endowment policy?

 

                  SECTION-B

 

Answer any Five questions:                                                                                                         (5×8=40)

 

  1. Explain the uses of insurance to individual and business.
  2. Explain the principles of investment in insurance
  3. Write a note on Motor insurance.
  4. Explain any five policies of Marine insurance
  5. Explain different losses under Marine Insurance policy
  6. Discuss the conditions of Lapsation in life Insurance policy.
  7. Explain any six life insurance policies
  8. Explain the various types of Reinsurance

 

               SECTION-C                                                (2×20=40)

Answer any Three questions:                                                                 

                        

  1. Explain different policies of Fire Insurance
  2. What is Insurance contract? Explain the essentials of Insurance contract
  3. What are the clauses of Marine Insurance?

 

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Loyola College B.Com Nov 2012 Human Resource Management Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FIFTH SEMESTER – NOVEMBER 2012

CO 5502 – HUMAN RESOURCE MANAGEMENT

 

 

 

Date : 06/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

PART-A      

 

ANSWER ALL THE QUESTIONS:                                                                 (10 X 2 = 20 MARKS)

 

  1. Define personnel management.
  2. Why is e- recruitment gaining importance now a days?
  3. What is ‘transfer’?
  4. What is dry promotion?
  5. Define motivation.
  6. What are the limitations of ‘autocratic leadership style’?
  7. What are the components of man power planning?
  8. Why should a job be evaluated?
  9. List some non-financial motivators in the work place.
  10. What is ‘induction’?

PART-B                                                                                                        

ANSWER ANY FIVE QUESTIONS:                                                                    (5 X8 = 40 MARKS)

 

 

  1. Discuss the nature of Human Resource Management.
  2. Distinguish ‘Job enlargement’ from ‘Job enrichment’.
  3. Explain the problems in Human Resources Planning.
  4. What is the need for training employees at work?
  5. How can the morale of people at work be improved?
  6. Distinguish training from ‘development’.
  7. How would you improve the productivity of labour?
  8. Discuss the advantages and limitations of democratic leadership.

           

PART-C

 

ANSWER ANY TWO QUESTIONS:                                                        (2 x 20 = 40 marks)

 

  1. Describe the functions of a Personnel Manager. Use relevant Illustrations.
  2. What are the steps employed in selecting a right man for the right job, in an organisation?
  3. Leaders are born – do you agree? – Enumerate the qualities of a leader.

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Loyola College B.Com Nov 2012 Financial Accounting Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FIRST SEMESTER – NOVEMBER 2012

CO 1500 – FINANCIAL ACCOUNTING

 

Date : 08/11/2012               Dept. No.                                          Max. : 100 Marks

Time : 1:00 – 4:00

PART – A

Answer ALL questions:                                                                                                                   (10 X 2 = 20 MARKS)

  1. How do you arrive at Gross profit?
  2. What is single Entry System?
  3. Explain the term “Depreciation”
  4. Choose the correct alternative:

The loss on sale of old motor car is debited to

  1. Profit & loss Account
  2. Motor car Account
  3. Depreciation Account
  4. None of the above
  5. Indicate if the following statement is true or false:

Net profit is equal to capital at the end + Drawings + Fresh capital introduced – capital in the beginning.

  1. In Departmental Accounts, Rent and Rates are allotted to different departments on the basis of

—————————————.

  1. Calculate the capital at the beginning of the year:

Rs

Capital at the end of the year                                              70,000

Drawings during the year                                                      10,000

Capital introduced during the year                                      5,000

Profit during the year                                                              20,000

 

  1. From the following particulars, calculate closing branch debtors balance:

Rs

Branch Debtor (1-1-08)                                                       6,300

Credit Sales                                                                                 39,000

Cash received from debtors                                                  41,200

  1. Calculate insurance claim from the following facts assuming that the insurers met their liability under the policy on ‘average basis’. A trader’s stock valued at Rs. 20,000 was totally destroyed. The stock in the godown was insured for Rs. 15,000 subject to average clause. The balance of stock, left after fire, appeared in the books at Rs. 12,000.

 

  1. On 01.01.2005, x bought some trucks under hire – Purchase System for Rs. 51,000 payable by three equal installments combining principal and interest, the latter being a normal rate of 5% P.a. Calculate the cash price. (The present value of an annuity of one rupee for three years at 5% is Rs. 2.72325).

PART- B

Answer any FIVE questions:                                                                                                       (5X8=40 MARKS)

  1. What are the features of Dependent Branches?
  2. What is average clause? How do you compute claim for loss of stock when there is average clause in the contract?
  3. How profit or loss is ascertained under the net worth method in single Entry System?
  4. A manufacturing concern, whose books are closed on 31st December every year, purchased machinery for Rs 50,000 on 1.1.2000 Additional machinery was acquired for Rs. 10,000 on 1.7.2001 and for Rs. 16,061 on 1.1.2004. Certain machinery purchased for Rs. 10,000 on 1.1.2000 was sold for Rs. 5,000 on 30.6.2003.

Give the machinery account for 5 years writing off depreciation at 10% p.a on written down value.

  1. The following particulars have been extracted from the books of Mr.A. you are required to prepare the sales ledger Adjustment Account as June 30,2004.

Rs

Balance as on January 1,2004                                                                                                55,842

Credit Sales                                                                                                                                  98,602

Cash Sales                                                                                                                                     53,250

Cash received from Debtors                                                                                                 88,753

Discount allowed                                                                                                                            480

Bills accepted                                                                                                                                7,120

Returns Inwards                                                                                                                          5,430

Bills Receivable Dishonored                                                                                                    1,120

Bad debts written off                                                                                                                3,890

Amount received against bad debts written off last year                                                             175

Sundry charges debited to customers                                                                                 378

Transfers to Bought ledger                                                                                                      100

  1. A fire occurred in the godown of a company on 20th March, 2005. All stocks were destroyed except to the extent of Rs. 13,000. From the following figures ascertain the claim amount in respect of loss of stock by fire:

Rs

Stock on 01.01.04                                                                                                       40,000

Purchases during 2004                                                                                          1,40,000

Sales during 2004                                                                                                    2,00,000

Stock on 31.12.04                                                                                                       24,000

Purchases during 2005 up to the date of fire                                               1,46,000

Sales during 2005 up to the date of fire                                                         1,60,000

Stock was always valued at 80% of the cost.

  1. Behavar coal company has taken a mine on lease. Royalty has been fixed at Rs. 0.50 per tonne. Minimum Rent is Rs 30,000. The right to recoup royalty is 5 years. The details of production for the first three years are as follows:
Year Quantity Produced

(Tones)

 
I

 

II

 

III

 15,000

 

50,000

 

75,000

 

Prepare minimum rent account, Royalty account and Short workings Account.

  1. G Purchased machinery under hire purchase arrangements from Mr. B. The cash price of the machinery was Rs 15,500 Payment for the purchase is to be made as under:

On signing the agreement Rs 3,000; First years end Rs 5,000; second year end Rs 5,000; Third year end Rs 5,000. Depreciation is charged at 10% on diminishing balance method. Show the asset account and the hive vendor account in the books of the Purchases.

PART – C

Answer any TWO Questions:                                                                                                     (2X20=40 MARKS)

  1. The following Trial Balance of Mr. Arumugam as at December 31,2004 is given to you:

 

Debit Balances Rs Credit Balances Rs
Stock on 1.1.04

Furniture

Cycle

Lorry

Sundry Debtors

Cash in hand

Cash at Bank

Purchases

Bad debts

Returns Inwards

Salaries

Wages

Rent

Discount allowed

Commission

Postage

 36,000

2,000

600

60,000

32,000

1,200

4,800

1,80,000

1,000

10,000

16,000

22,000

7,200

1,800

1,400

800

 Sundry Creditors

Loan

Capital

Sales

Returns outwards

Discount earned

Bills payable

 

 30,000

14,000

50,000

2,60,000

4,000

2,200

16,600
3,76,800 3,76,800

 

Taking into account the following adjustments, prepare Trading and profit and loss account and Balance sheet as on that date:

  • Depreciate Furniture at 10% ; Cycle at 5% ; Lorry at 20%
  • Create a Reserve of 5% on sundry debtors for bad and doubtful debts and 1% reserve for discount on sundry creditors
  • Outstanding salaries Rs 3,000.
  • Closing stock was valued at Rs 48,000,
  • Provide for 5% interest on capital.

 

  1. A Trader keeps his books under single entry system. From the following details, prepare trading and profit & loss A/C and Balance sheet:

 

As on 01.01.05

Rs

 As on 31.12.05

Rs
Creditors

Furniture

Cash

Debtors

Stock

 37,500

2,500

6,250

62,500

25,000

 43,750

2,500

10,000

87,500

12,500

 

Other details:

Drawings Rs 10,000 ; Bad debts Rs 1,250 ; Discount received Rs 3,750 ; Discount allowed Rs 2,500 ; sundry expenses Rs7,500 ; payment to creditors Rs 1,12,500 ; collections from debtors Rs 1,33,750 ; Sales Returns Rs 3,750 ; Purchase Returns Rs 1,250 ; charge 5% Depreciation on furniture.

  1. A head office invoices goods to its branch at cost plus 50% Branch remits all cash received to the head office and all expenses are met by the Head office.  From the following particulars, prepare the necessary accounts on the stock and debtors system to show the profit or loss at the branch.
Rs. Rs.
Stock on 1.1.05 (invoice Price) 27,900 Shortage of stock 1,350
Debtors on 1.1.05 20,400 Discount allowed 600
Goods invoiced to branch (invoice price) 1,53,000 Expenses at the Branch 16,200
Cash Sales 75,000 Bad debts 600
Credit Sales 93,000
Cash collected for Debtors 91,200
Good returned by Debtors 3,600
Good returned to Head office by branch 4,500

 

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Loyola College B.Com Nov 2012 Financial Management Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com., BBA., DEGREE EXAMINATION – CORPORATE SEC. & BUSI. ADMIN.

THIRD SEMESTER – NOVEMBER 2012

CO 3201 – FINANCIAL MANAGEMENT

 

 

Date : 09/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

SECTION – A

Answer all the following questions:                                                                                           (10×2=20)

 

  1. What is financial management?
  2. Give the meaning of the term “operating cycle”.
  3. If DOL = 1.56, DCL = 1.23, by what percentage will EBIT increase if sales increase by 10 per cent?
  4. Frost Ltd. has issued Rs.1,000 debentures redeemable at a premium of 10% with 10 years maturity. Coupon rate is 12%. Tax rate is 50%. Calculate the cost of debentures.
  1. Calculate the debtors collection period in days from the following:

Debtors on 1.1.2011                           Rs.500

Debtors on 31.12.2011                       Rs.380

Credit sales during the year                Rs.3,700

Period covered                                    365 days

  1. Interest = Rs.5,000 Tax rate = 40%            No of equity share = 12,000. Determine the likely level of EBIT if EPS is Re.1
  2. State any two merits of Net Present Value.
  3. What do you mean by the term “cost of equity”.
  4. What is optimum capital structure?
  5. List the different forms of dividend.

 

SECTION – B

Answer any five questions:                                                                                      (5×8=40)

 

  1. Explain the factors considered in determining working capital requirement of a firm.

 

  1. Describe the factors affecting dividend policy.

 

  1. Explain the sources of internal financing.

 

  1. The project X initially costs Rs.25,000. The cost of capital is10%.  It generates the following cash flow after tax:
year Cash inflows

      Rs.

1 9,000
2 8,000
3 7,000
4 6,000
5 5,000

Calculate a) Payback period   b) Discounted payback period

 

  1. Sales = 70 lakhs, Fixed cost = Rs.5 lakhs, Variable cost = Rs.45 lakhs, 9% debentures =Rs.40 lakhs and Equity = Rs.60lakhs.

Calculate Operating leverage, Financial leverage and Combined leverage.

 

  1. A company has the following capital structures:

Equity capital Rs.10 each                   Rs.3,00,000

9% Preference capital Rs.100 each     Rs.2,00,000

Retained earnings                               Rs.1,00,000

10% Debentures (Rs.10 each)             Rs.1,00,000

The next expected dividend is Rs. 5 per share.  The dividend is expected to grow at 8% per annum.  Market price of the equity share is Rs.12 per share.  Assume tax rate is 50%.  Calculate weighted average cost of capital using book value as weights.

 

  1. Ganesh Ltd plans a production of 57000 units per annum.  The cost of production is Rs.100 per unit, comprising of raw material – Rs.70; direct labour – Rs.20 and overheads Rs.10.

Selling price is Rs.150 per unit. Raw material is in stock for 2 months and finished goods for 3 months.  Production process takes 1 month. Credit allowed by supplier is 1.5 months and credit given to debtors is 1 month. WIP may be assumed to be 40% completed. Calculate the working capital required at cash cost.

  1. The following data relates to Reliance Ltd:

Existing capital structure: 50,000 equity shares of Rs. 100 each

The company wants to implement a new project for which Rs.10 lakhs is needed.  The following two options are identified:

  1. Equity shares @ Rs.100 each                                    10 lakhs
  2. Equity shares @ Rs.100 each 5 lakhs

10% preference shares @Rs.100 each            Rs. 5 lakhs

Calculate the EBIT at the indifference point.  Assume 30% tax.

 

SECTION – C

Answer any two questions:                                                                                      (2×20=40)

 

  1. Discuss the functions of financial management in detail.
  1. The existing capital structure of Regal Ltd is as follows:

Equity shares of Rs.100 each              Rs.5,00,000

Retained earnings                               Rs.2,00,000

8% preference shares                          Rs.2,50,000

6% debentures                                                Rs.   50,000

The existing rate of return on the company’s capital employed is 10% and tax rate 50%. The rate of return is expected to increase by 2% after expansion.  The company requires a sum of Rs.5,00,000 to finance its expansion program, for which it is considering the following options:

  1. a) Issue 5,000 equity shares of Rs.100 each
  2. b) Issue 10% preference shares
  3. c) Issue 8% debentures

The estimated Price Earnings Ratio in the above three financing options would be 17, 15 and 14 respectively. Which option would you recommend?

  1. Surya limited is considering a capital investment proposal which cost Rs.2,50,000. It has a life span of 5 years. The cost of capital is 12%. The firm uses straight line method of depreciation.  The company’s tax rate is 30%.  The estimated  Earnings before tax from the proposed investment proposal is as follows:

 

Year                            Earnings before tax

                                               Rs.

1                                            45,000

2                                            60,000

3                                            95,000

4                                            63,000

5                                            50,000

 

Compute:                                                                                                                                            a) Average rate of return      b) Net present value           c) Profitability index

 

 

 

 

 

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Loyola College B.Com Nov 2012 Financial Accounting Question Paper PDF Download

by

LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FIRST SEMESTER – NOVEMBER 2012

CO 1502 – FINANCIAL ACCOUNTING

 

 

Date : 08/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A

 

ANSWER ALL THE QUESTIONS:                                                                            (10×2=20)

 

  1. What are the different types of branches?
  2. [a] Hire Vendor may take away only a portion of goods on which there is default of

installment___________

[b] ________________is the advance payable by the buyer while signing hire purchase agreement.

  1. Say True or False:

[a] Single entry is an incomplete system of accounting because here only personal accounts are

maintained.

[b] Depreciable assets are expected to be used for an accounting period.

  1. Match the following:

[a] Fixed assets          –      Mines, quarries

[b] Nominal assets    –      Bills Receivable

[c] Liquid assets         –      Building

[d] Wasting asset      –       Discount on shares.

  1. What is the need for Departmental Accounting?
  2. From the following data calculate Capital at the beginning of the year.

Capital at the end of the year             –   Rs.70,000

Drawings during the year                    –   Rs.10,000

Capital introduced during the year   –   Rs.5,000

Profit made during the year               –   Rs.20,000

  1. In what basis the following expenses apportioned in departmental accounting?

[a] Selling expenses                [b] Canteen expenses

[c] Depreciation                       [d] Carriage inwards

  1. Cash Price of the Machinery Rs.20,000. Down payment Rs.5,000, four annual installments of Rs.5,000 each. Calculate interest for each of the four years.
  2. Why do you prepare a Statement of Affairs ?
  3. Why do you prepare a Trading account?

 

PART – B

Answer any FIVE questions:                                                                                   (5 x 8 = 40 marks)

  1. State the various methods of depreciation.
  2. Distinguish between Statement of Affairs and Balance Sheet.

 

  1. Define HRA. Enumerate the advantages of HRA.

 

  1. On 01.01.2002, X purchased a machine for Rs.50,000. On 01.07.2003 additions were made for

Rs.10,000. On 01.04.2004, Rs.6,400 worth of additions were made. On 31.12.2004, 1/4th of the first

machine purchased on 01.01.2002 was sold for Rs.7,000. Show machinery account from 2002 to 2004

in the books of X under diminishing balance method at 10% per annum.

 

  1. From the following details, prepare Departmental Account:
Particulars Department A Rs. Department B Rs.
Opening stock

Total Purchases

Total sales

Closing stock

Credit purchases

Credit sales

 9,000

27,000

42,000

10,800

17,000

5,000

 8,400

21,600

36,000

4,800

10,600

6,000

 

Transfer of goods from Departments A to B  Rs.4,000

 

Transfer of services from Departments B to A Rs.500

 

  1. The Calcutta Commercial Company invoiced goods to its Jamshedpur Branch at cost. The Head

Office paid all the expenses from its bank except petty cash expenses which were paid by the branch.

From the following details relating to the Branch, prepare,

1) Branch stock A/c       2) Branch Debtors A/c   3) Branch Expenses A/c   4) Branch P&L A/c

 

Rs Rs
Stock ( Opening )

Debtors ( Opening )

Petty cash ( Opening )

Goods sent from HO

Goods returned to HO

Cash sales

Advertisement

Cash received from Debtors

Stock ( Closing )

Allowance to customers

 21,000

37,800

600

78,000

3,000

52,500

2,400

85,500

19,500

600

 Discount to customers

Bad debts

Goods returned to branch by customers

Salaries & Wages

Rent & Rates

Debtors(Closing)

Petty cash ( Closing )

Credit sales

 

 4,200

1,800

1,500

 

18,600

3,600

29,400

300

85,200

 

 

 

 

 

 

 

 

 

  1. From the following information calculate credit purchases and total purchases:
  Rs.
Cash purchases

Opening balance of bills payable

Opening balance of creditors

Closing balance of Bills payable

Closing balance of creditors

Cash paid to creditors

Cash paid to bills payable in the relevant year

Purchase returns

Allowance from creditors

Bills payable dishonoured

 29,000

7,500

20,000

2,500

18,000

25,000

10,500

1,500

800

300

 

  1. From the following information you are required to ascertain

[a] cost of sales    [b] Closing inventory as per CPP method,

when the firm follows LIFO method for inventory valuation.

Inventory on  1/4/1996                                  Rs.1,20,000

Purchases during   1996 – 97                         Rs.72,000

Inventory on  31/3/1997                                Rs.1,80,000

The firm has decided to adopt retail price index which was as follows:

On 1/4/1996 = 100;   on 31/3/1997 = 140;     Average during 1996 – 97 =125

 

PART – C

 

Answer any TWO questions:                                                                                   (2 x 20 = 40 marks)

 

  1. Raja maintains his books under Single Entry system . From the following information prepare Trading

Profit and Loss A/c for the year ending 31.12.1991 and also Balance sheet as on that date.

Cash in hand on 01.01.1991 was Rs.4,250.

Asset and Liabilities

1.1.1991        31.12.1991

Debtors                                                                  16,300            21,250

Stock                                                                        8,330             11,220

Furniture                                                                     850                  850

Creditors                                                                  5,100               3,780

 

Other transactions:

Cash received from debtors       52,680              Cash sales                            1,275

Cash paid to creditors                37,400              Cash Purchases                   4,250

Salaries                                       10,200               Discount received                  595

Rent & Rates                               1,275                Discount allowed                  255

Other expenses                            1,530               Returns inward                      850

Drawings                                     2,550                Returns outward                   680

Additional capital                        1,700               Bad debts                               170

Adjustments:

 

Write off depreciation @5% on furniture.  Provide doubtful debts @ 1%  on debtors.

 

  1. Kevin purchased a truck for Rs.1,60,000 from Pranesh on 1.1.93 payment to be made Rs.40,000

down,Rs.46,000 at the end of first year, Rs.44,000 at the end of second year and Rs.42,000 at the end

of third year. Interest was charged at 5% and Kevin depreciates the truck at 10% per annum on written

down method.

Kevin, after having paid down payment and first installment at the end of first year, could not pay

second installment. The seller took possession of the truck and after spending Rs.4,000 on repairs of

the asset, sold it away for Rs.91,500.

Give journal entries and ledger accounts in the books of both parties.

 

  1. From the following trial balance as on 31.12.2000 prepare Trading, Profit and Loss Account and a

Balance Sheet as on that date.

 

Particulars Debit  Rs. Credit Rs.
Stock as on 01.01.2000

Cash in hand

Drawings

Rent

Machinery

Tax

Provision for bad debts

Bad debts

Capital

Interest

General Expenses

Bank overdraft

Purchases

Debtors

Sales

Creditors

Sales return

Purchase return

 5,840

192

2,840

480

3,800

600

 

888

 

 

1,760

 

41,448

16,800

 

 

840

  

 

 

 

 

 

420

 

17,000

320

 

960

 

 

47,624

8,000

 

1,164
75,488 75,488

 

Adjustments:

 

  1. Depreciation on machinery 10% p.a
  2. Rent outstanding Rs.500
  3. Tax prepaid Rs.100
  4. Provision for bad debts is to be increased to 5% on debtors
  5. Closing stock Rs.3,500.
  6. Discuss the Social Responsibility Accounting in detail.

 

 

 

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Loyola College B.Com Nov 2012 Cost Accounting Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FIFTH SEMESTER – NOVEMBER 2012

CO 5501 – COST ACCOUNTING

 

 

 

Date : 03/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

PART  A

Answer ALL questions:                                                                                           (10×2=20 marks)

 

  1. Mention 2 reasons why profits as per cost accounts and financial accounts differ.
  2. How is idle time cost treated in cost accounts?
  3. What is an escalation clause in a contract agreement?
  4. What is a machine hour rate?
  5. True or False
  6. When actual loss is less than anticipated loss the difference is abnormal gain.
  7. I.F.O method will show more profit when material prices are falling.

 

  1. Compute the economic batch quantity for a company using batch costing with the following information:

Annual demand for the component                                                        24,000

Set-up cost per batch                                                                     Rs.               120

Carrying cost per unit of production                                        Rs.              0.36

 

  1. From the following data calculate minimum level for material X

Delivery time                     2 to 4 weeks

Consumption                     100 to 150 units per week

 

  1. A taxi runs for 4000 kilometers per month of which 20% is run empty. The total expenses for the month is Rs.25,500. Calculate the cost per kilometre.

 

  1. From the following data provided to you calculate Labour Turnover under Flux method.

No. of workers on the payroll:

At the beginning of the month                  500

At the end of the month                              600

During the month, 5 workers left, 20 persons were discharged and 75 workers were recruited. Of these, 10 workers were recruited in the vacancies of those leaving, while the rest were engaged for an expansion scheme.

 

  1. From the following calculate the value of raw material consumed:

Raw materials purchased Rs.88,000

Opening stock of raw materials Rs.1,00,000

Freight and purchases Rs.5,500

Sale of material scrap Rs.2,000

Closing stock of raw materials Rs.1,23,500

 

 

 

 

PART  B

 

Answer FIVE questions only:                                                                                     (5×8=40 marks)

 

  1. Define Overheads. Distinguish between allocation, apportionment and absorption of overheads.

 

  1. Write short notes on:
  2. Taylor’s Differential Piece rate system.
  3. Opportunity cost
  4. Joint and By-products
  5. Labour Hour rate.

 

  1. The information given below has been taken from the cost records of a factory in respect of Job No.707:

Direct material                                  Rs.4,010

Wage details:

Department A:  60 hours @ Rs.3 per hour

Department B:   40 hours @ Rs.2 per hour

Department C:   20 hours @ RS.5 per hour

The variable overheads are as follows:

Department A:   Rs.5,000 for  5,000 hours

Department B:   Rs.3,000 for 1,500 hours

Department C:   Rs.2,000 for 500 hours

Fixed expenses estimated at Rs.20,000 for 10,000 working hours. Calculate the cost of the Job No.707 and the price for the Job to give a profit of 25% on the selling price.

 

  1. A workman’s wage for a guaranteed 44 hour is Rs.10 per hour. The estimated time to produce one article is 30 minutes and under incentive scheme the time allowed is increased by 20%,. During one week the workman manufactured 100 articles. Calculate the gross wages under each of the following methods of remuneration:
  2. Time-rate
  3. Piece work with a guaranteed weekly wage
  4. Rowan premium bonus
  5. Halsey premium bonus, 50% to workman.

 

  1. A Ltd prices issues under F.I.F.O method. From the following prepare the Stores Ledger for the month of October 2012:

October 1             Opening balance 500 units at Rs.2 per uni

6th                           Issued 250 units

13th                         Received 200 units at Rs.1.90 per unit

15th                         Returned from Department 15 units out of the issues on 6th

20th                         Issued 180 units

22nd                        Received 240 units at Rs.1.80 per unit

29th                         Issued 300 units

On 30th October  the stock verifier found a shortage of 10 units.

 

  1. M/s. Kishore & Co. Commenced the work on a particular contract on April 1, 2011. They close their books of accounts for the year on December 31, each year. The following information is available from their costing records on December 2011.

Material sent to site                       Rs.50,000

Wages Paid                                         Rs.1,00,000

Foreman’s salary                              Rs.12,000

A machine costing Rs.32,000 remained in use on site for 1/5th of the year. Its working life was estimated at 5 years and scrap value at Rs.2,000. A supervisor is paid Rs.2,000 per month and had devoted one half of his time on the contract.

All other expenses were Rs.15,000. The material on site were Rs.9,000. The contract price was Rs.4,00,000. On December 31, 2011, 2/3rd of the contract was completed; however, the architect gave certificate only for Rs.2,00,000 on which 75% was paid.

Prepare the Contract Account.

 

  1. Raj Motors owns a bus which cost Rs.3.80 lakhs. The bus has a life of 5 years and a scrap value of Rs.20,000 at the end of its life. The bus runs between two towns which are 100 kms apart. It makes two round trips a day and operates for 30 days in a month. It has a capacity of 50 passengers and the average occupancy is 80%. Other details are as follows:

Driver’s wages : Rs.9000 per month

Conductor’s wages : Rs.7000 per month

Garage rent : Rs.2000 per month

Office expenses : Rs.7000 per month

Taxes and insurance : Rs.12000 per annum

Repairs : 80% of depreciation

Diesel : Rs.5 per km

Sale of old tyres and tubes : Rs.800 per month

Calculate the operating cost per passenger kilometre.

 

  1. A Company’s records show the following particulars for a department for the year 2011 for production and sales of 100 units.

 

Materials Rs.14,000; Direct Labour Rs.7,000; Works Overheads Rs.7,000; Administration overheads Rs.2,800; Selling overheads Rs.3,200; Profit Rs.6,000.

You ascertain that 40% of the works overheads fluctuate directly with production and 70% of the selling overheads fluctuate with sales.  It is anticipated that the department would produce 500 units per annum in the year 2012 and that direct labour charges per unit will be reduced by 20%, while fixed works overheads will increase by Rs.3,000. Administration overheads and fixed selling overheads are expected to show an increase of 25% but otherwise no changes are anticipated.

Prepare a statement of Cost and Profit in 2012, if the Company wants a profit of 20% on cost.

 

PART  C

 

Answer ANY TWO questions:                                                                                                                  (2×20=40 marks)

 

  1. From the following details of Small Tools Ltd compute profit in Financial Accounts as well as in Cost Accounts and prepare a statement reconciling the two profits:

Rs.                                                                                                          Rs.

Sales                                        20,000             Bad debts                                            100

Purchase of materials                3,000             Interest on overdraft                             50

Closing stock of materials            500             Profit on sale of assets                                    1,000

Direct wages                             1,000             Selling expenses                                  3,000

Indirect wages                                         500

Power                                        2,000

In Cost accounts:

Manufacturing overhead recovered @ 300% on direct wages.

Selling overhead  recovered Rs.2,200

 

 

 

  1. From the following data, calculate:
  2. Equivalent production
  3. Cost per unit of equivalent production and also prepare Process A account.

No. of units introduced in the process                                                4000 nos.

No. of units completed and transferred to Process B                         3200 nos.

No. of units in process at the end of the period                                   800 nos.

Stage of completion:

Material                                   80%

Labour                                     70%

Overheads                               70%

Normal process loss at the end of the process            5% of input

Value of scrap                                                             Re.1 per unit

Value of raw materials                                                Rs.7,480

Wages                                                                         Rs.10,680

Overheads                                                                   Rs.7,120

 

  1. A Company has 3 production departments A, B and C and two service departments P and Q. The following data are extracted from the records of the company for a particular given period:

Rent and rates                                                  Rs.25,000

General lighting                                                                Rs.3,000

Indirect wages                                                  Rs.7,500

Power                                                                   Rs.7,500

Depreciation on machinery                         Rs.50,000

Sundries                                                              Rs.50,000

Additional data, department-wise

 

 

 

Direct wages (Rs)

Horsepower of machine Cost of machinery (Rs)

Production hours worked

Floor space used (Sq.Mt)

Lighting points (nos)

 Total Production dept. Service dept.
  A B C P Q
 

      50,000

           150

12,50,000

           –

      10,000

             60

  

    15,000

            60

 3,00,000

      6,226

      2,000

           10

  

    10,000

           30             

4,00,000

     4,028

     2,500

          15

  

     15,000

            50

 5,00,000

      4,066

      3,000

           20

  

  7,500

        10

25,000

      –

  2,000

       10

  

   2,500

     –

 25,000

     –

       500

           5

Service department’s expenses allocation:

A                             B                             C                             P                             Q

P                             20%                        30%                        40%                        –                              10%

Q                             40%                        20%                        30%                        10%                        –

You are required to:

  1. Compute the overhead rate per hour for production departments using the repeated distribution method; and
  2. Hence, determine the total cost of Job 127 whose direct material cost and direct labour cost are respectively Rs.250 and Rs.150 and which would consume 4 hours, 5 hours and 3 hours in departments A, B and C respectively.

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Loyola College B.Com Nov 2012 Corporate Communication Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – CORPORATE SEC.

FIRST SEMESTER – NOVEMBER 2012

CO 1100 – CORPORATE COMMUNICATION

 

 

Date : 03/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

 

Section A

Answer all questions:                                                                                                                            (10 x 2 = 20)

 

  1. What is the process of communication?
  2. What is evaluative listening?
  3. What are the advantages of telephone?
  4. State any three limitations of oral communication.
  5. What are the objectives of communication?
  6. List any three modern means of communication.
  7. What is meant by public space language?
  8. What are the three P’s of sales correspondence?
  9. What is a minute?
  10. How is a reference different from testimonials?

 

Section B

Answer any five Questions:                                                                                                                   (5 x 8 = 40)

 

  1. Write a note on a) semantic barriers b) closed mind.
  2. “Writing an e-mail is no different from writing a business letter”- Discuss.
  3. Explain the steps and principals of preparing reports.
  4. Explain the five star strategy of planning presentation.
  5. Draft a suitable reply of poor performance of music system supplied by you.
  6. “The future of a collection letters is not merely to collect dues, but to collect them painlessly”- discuss
  7. Mention the objectives of sales letters.
  8. Draft a sales letter to promote the sales of earth quack insurance policy.

 

Section C

Answer any two Questions:                                                                                                   (2 x 20 =40)

 

  1. Make an unsolicited offer to Big Bazaar undertaking to offer a regular supply of a variety of women Cosmetics.
  2. Draft an application letter for the post of Chief Executive officer to Reliance ltd, Chennai.
  3. Draft the minutes of a meeting of Ford Company, Chennai, at which the following were taken: a) purchase of new land b) Appointment of directors c) workers day celebration d) any other business matters.

 

 

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Loyola College B.Com Nov 2012 Company Law & Secretarial Practice Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

THIRD SEMESTER – NOVEMBER 2012

CO 3501 – COMPANY LAW & SECRETARIAL PRACTICE

 

 

 

Date : 05/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

PART – A

 

Answer ALL the questions:                                                                                               (10×2=20)

 

  1. What is a Public Company?
  2. What is a Government Company?
  3. What is memorandum of association?
  4. What is meant by constructive notice of memorandum and articles?
  5. What are statutory books?
  6. What is dividend warrant?
  7. What is dividend?
  8. What are minutes?
  9. What are preliminary or pre-incorporation contracts?
  10. What is a special resolution?

 

PART – B

 

Answer any FIVE questions only:                                                                          (5×8=40)

 

  1. Explain the cases in which corporate veil can be lifted.
  2. What are the advantages of a company?
  3. Discuss the exceptions to the doctrine of indoor management.
  4. Explain the differences between memorandum of association and articles of association.
  5. List out the various statistical books required to be maintained by the company.
  6. Discuss the duties of secretary regarding maintenance of statutory books.
  7. Explain the procedure regarding payment of dividend.
  8. Discuss the legal provisions relating to minutes.

 

PART – C

 

Answer any TWO questions only:                                                                                 (2×20=40)

  1. How can you classify companies on the basis of incorporation and on the basis of liability?
  2. Discuss the kinds of resolutions in detail.
  3. Who is a promoter? Discuss his legal position in relation to the company which he promotes and how is he remunerated?

 

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Loyola College B.Com Nov 2012 Company Accounts Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FOURTH SEMESTER – NOVEMBER 2012

CO 4502/4500 – COMPANY ACCOUNTS

 

 

 

Date : 03/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A

Answer All Questions:                                                                                              (10 X 2 = 20 marks)

 

  1. Explain the term ‘Firm Underwriting’.
  2. What is call money? What is the maximum amount of a call according to table A.?
  3. What do you understand by redemption of debenture out of profits.?
  4. What are ‘divisible profit’?
  5. Write a note on ‘pre – incorporation profit’.
  6. How do you calculate ‘Average capital employed’?
  7. 5,000 Equity shares of Rs 100 each reduced to Rs 75 each and 1000 preference shares of Rs 50 each is reduced by Rs 25 Pass Journal entries.
  8. Amount needed after 5 years for debenture redemption is Rs 60,00,000. Rate of interest on investment expected is 5% Annual investment needed to get Rs 15 after 5 years, Rs 2.71462. Ascertain the annual transfer to sinking fund.
  9. Padma co.Ltd was formed for taking over the business of Mr. Ganapathi. The purchase consideration was Rs 1,92,000 which will be settled by issue 960 shares of Rs 100 each at a discount of 5% and balance in cash. Assets taken over were Rs 2,08,000 and liabilities taken over were Rs 28,000. Give journal entries in the books of padma co.Ltd.
  10. Calculate Net profit before tax and Extra ordinary items. P&L a/c balance on 31/03/10:

Rs. 10,00,000 and on 31/03/11 Rs 11,00,000 Transfer to General Reserve Rs.10,000,

Proposed Dividend Rs. 25,000,  Provision for taxation Rs. 40,000.

 

PART – B

 

Answer any FIVE questions:                                                                                     (5 x 8 = 40 marks)

 

  1. What is ‘acquisition of Business’? Explain the methods of computing purchase consideration on acquisition of business.
  2. Explain the Provisions Under sec 78 of the companies Act for the use of share premium.
  3. Explain the circumstances under which valuation of shares is essential and discuss the various methods of valuation.
  4. WYE Co.Ltd. issued 20,000 shares of Rs.10 each. These shares were underwritten as follows:

X: 10,000 shares,     Y: 6,000 shares.  The public applied for 16,000 shares which included market application as follows:-     X: 2,400 shares;     Y: 600 shares.

Determine the obligating of the underwriters.

  1. Ltd issued 2,000 12% Debentures of Rs.100 each on 1.1.2008 at a discount of 10%, redeemable at premium of 15% in equal annual drawings in two years out of profits. Give journal entries both at the time of issue and redemption of debentures.   (ignore the treatment of loss on issue of debentures and interest).
  2. From the following Profit & Loss Account of Soundarya Ltd. For the year ended 31.12.2010 and additional data given, calculate commission due to managing director at 5% of net profit.  Salary of managing director is to be treated as part payment of the commission.

Profit & Loss A/c  of the year ended 31.12.2010.

  Rs.   Rs.
To opening stock 11,000 Pay sales 1,70,000
To Bonus (including Rs.500 for 2009) 5,000 By closing stock 15,000
To Director’s fees 3,000 By other income:

Discount

 2,000
To Managing director:

Salary:

Commission

  

2,000

1,000

 Profit sale of fixed assets 1,000
To Development rebate reserve 800    
To provision for Tax 3,000    
To Establishments Expenses 40,000    
To Loss on sale of investments 200    
To Net profit c/d 1,22,000    
  1,88,000   1,88,000

The book value of the fixed assets sold was Rs.2,000 and their original cost was Rs.2,600.

 

  1. A company was incorporated on 1st May 2010 acquiring the business of a sole trader with effect from 1st January 2010. The accounts of the company were closed for the first time on 30th September 2010, disclosing a gross profit of Rs.1,68,000.  The establishment expenses were Rs.42,660. Directors’ fees Rs.3,000 per month, preliminary expenses written off Rs.4,000, rent upto  June, 2010 was Rs.300 per month which was there after increased to Rs.750 per month.  Salary to the manager was at Rs.1500 per month who was appointed a director at the time of incorporation of the company.

Prepare a statement showing profits prior and subsequent to incorporation assuming that the net sales were Rs.24,60,000.  The monthly average of which for the first four months of 2010 was half of that of the remaining period.

  1. From the following information, calculate the value of good will on the basis of 3 years purchase of super profit.
  • Average capital employed in the business is Rs.20,00,000.
  • Rate of interest expected from capital having regard to the risk involved is 10%.
  • Net trading profits of the firm for the past three years were Rs.3,50,400; Rs.2,80,300; and Rs.3,10,100.
  • Fair remuneration to the partners for their services is Rs,48,000 p.a.
  • Sundry assets of the firm are Rs.23,50,400 and current Liabilities are Rs.95,110.

PART – C

 

Answer any TWO questions:                                                                                   (2 x 20 = 40 marks)

 

  1. Swan ltd., issued 8,000 9% Redeemable preference shares of Rs.100 each at par 1.7.2004, redeemable at the option of the company on or after 30th June 2010, partly or fully.

Redemption were made out of profit as follows:

  • 1,200 shares on 30th June 2010 at par.
  • 1,600 shares on 31st December 2010 at 10% premium.
  • Remaining shares 30th June 2011 at a premium of 5% by making a fresh issue of 40,000 equity shares of Rs.10 each at premium of Re.1 each,

On 30th June 2011, the company also decided to capitalize 50% of its Capital redemption reserve by issuing bonus shares of Rs.10 each fully paid at a premium of Rs.2.50 per share.   Pass necessary entries to record the above transactions.

  1. The Silver Ore co.ltd. was formed on 1.4.2007 with an authorized capital of Rs.6,00,000 in shares of Rs.10 each of these 52,000 shares had been issued and subscribed but there was calls in arrear on 100 shares.  From the following trial balance as on March 31, 2008, Prepare the Trading and Profit & Loss Account and the Balance sheet:
  Rs.   Rs.
Cash at bank 1,05,500 Share Capital 5,18,750
Plant 40,000 Sale of Silver 1,79,500
Mines 2,20,000 Interest on F.D. up to Dec.31 3,900
Promotion expenses 6,000 Dividend on Investment 3,200
Advertising 5,000    
Cartage on plant 1,800    
Furniture & Buildings 20,900    
Administrative Expenses 28,000    
Repairs to plant 900    
Coal and oil 6,500    
Royalties paid 10,000    
Railway Track & wagons 17,000    
Wages of miners 74,220    
Cash 530    
Investment – shares of tin mines 80,000    
Brokerage on above 1,000    
6% FD in syndicate bank 89,000    
  7,06,350   7,06,350

Adjustments:

  • Depreciate plant and Railways by 10% . Furniture & building by 5%
  • Write off a third of the promotion expenses.
  • Value of silver ore of march 31, 2008 Rs.15,000.
  • The directors forfeited on Dec. 20, 2007, 100 shares on which only Rs.7.50 had been paid.

 

  1. Knight co.ltd went into voluntary liquidation on 31.12.2010 when their balance sheet read as follows:
Liabilities Rs. Assets Rs.
Issued & subscribed capital: 15,000 10% cumulative preference shares of Rs.100 each fully paid 15,00,000 Land  & Buildings 7,50,000
7,500 Equity shares of Rs.100 each Rs.75 paid 5,62,500 Plant & Machinery 18,75,000
22,500 equity shares of Rs.100 each Rs.60 paid 13,50,000 Patents 3,00,000
15% debenture secured by a floating charge 7,50,000 Stock 4,02,500
Interest outstanding on debentures 1,12,500 Sundry debtors 8,25,000
Creditors 9,56,250 Cash at bank 2,25,000
    Profit & Loss a/c 8,53,750
  52,31,250   52,31,250

Preference dividends were in arrears for 2 years and the creditors included Preferential creditors of Rs.38,000.

The assets were realized as follows:  land & Buildings Rs.9,00,000; Plant & machinery Rs.15,00,000; patents Rs.2,25,000; Stock Rs.4,50,000; Sundry debtors Rs.6,00,000.

 

The expenses of liquidation amounted to Rs.27,250.  The liquidator is entitled to a commission of 3% on assets realized except cash.  Assuming the final payments including those on debentures were made on 30.6.2011, show the liquidator’s final statement of account.

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Loyola College B.Com Nov 2012 Business Law & Vat Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FOURTH SEMESTER – NOVEMBER 2012

CO 4503/CO 4501 – BUSINESS LAW & VAT

 

 

 

Date : 07/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A

 

Explain the following Terms:                                                                           (10×2=20 marks)

 

  1. Auction sale
  2. Agreement to sell
  3. MRTP Commission
  4. Appeal
  5. Subrogation
  6. Contract of insurance
  7. Restrictive Trade Practice
  8. VAT
  9. Scheduled goods
  10. Common carrier

PART – B    

Answer any FIVE questions:                                                                               (5×8=40 marks)

 

  1. What are the duties of the buyer?
  2. What are the Express and Implied conditions?
  3. What are the objects of the Central Consumer Protection Council?
  4. Explain “Unfair Trade Practices” under the MRTP Act.
  5. What are the functions of Insurance?
  6. Explain the different types of Fire Insurance Policies.
  7. What are the rights of a Common Carrier?
  8. What are the objectives of VAT?

PART – C

 

Answer any TWO questions:                                                                     (2×20=40 marks)

 

  1. What are the rights of an Unpaid Seller? Describe using examples.
  2. Describe the procedure on admission of complaint relating to goods and services. Explain using illustrations.
  3. Explain and Illustrate the fundamental principles of Insurance.

 

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Loyola College B.Com Nov 2012 Business Law – I Question Paper PDF Download

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

THIRD SEMESTER – NOVEMBER 2012

CO 3500 – BUSINESS LAW – I

 

 

Date : 02/11/2012             Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

PART-A

Answer ALL questions:                                                                                                   (10×2=20 marks)

 

  1. What is ‘quid –pro-quo’?
  2. Define contract as per Indian Contract Act
  3. What is a ‘void agreement’?
  4. Explain a “contingent contract”
  5. What do you mean by the term ‘tender of performance’?
  6. Define a ‘Quasi contract’?
  7. What is mitigation of loss?
  8. Who is an agent?
  9. What is a contract of indemnity?

10.What is general lien?

 

PART-B

 

Answer any FIVE questions only:                                                                                     (5×8=40 marks)

 

  1. “ No consideration No contract” state the exceptions to this general rule.
  2. Distinguish between coercion and undue influence.
  3. List out any eight agreements declared void.
  4. Explain the circumstances under which claim for ‘quantum merit” arises.
  5. What are the essentials of a valid tender?
  6. State the circumstances in which quasi contractual obligation arise.
  7. Distinguish between contract of indemnity and guarantee.
  8. What are the essentials of Bailment?

PART-C

 

Answer any TWO questions only:                                                                                 (2×20=40 marks)

 

  1. What are the essentials of a valid contract?
  2. What do you mean by discharge of contract? Discuss the various modes by which it may be

discharged.

  1. What are the rights and duties of an agent towards his principal?

 

 

 

 

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