JAIPUR NATIONAL UNIVERSITY, JAIPUR

School of Distance Education & Learning

Internal Assignment No. 1
Bachelor of Commerce (B.Com.)
Paper Code:
Paper Title:

B.Com. 101
Financial Accounting

Last date of submission:

Max. Marks: 15

Note : Question No. 1 is of short answer type and is compulsory for all the students.
It carries 5 Marks. (Word limits 50-100)
Q. 1.
(i)
(ii)
(iii)
(iv)
(v)

Answer all the questions:

Explain any one method of redemption of debenture?
What do you mean by super profit? How is it calculated?
Explain the meaning of consolidation of shares with suitable example.
What do you mean by amalgamation in the nature of merger?
How is the remuneration of the liquidator calculated?

Note: Answer any two questions. Each question carries 5 marks (Word limit 500)
Q. 2.

What do mean by valuation of shares? What are the benefits of valuation of shares?
What factor affected the value of shares?

Q. 3.

What is meant by internal reconstruction? when do internal reconstruction becomes

desirable. explain

Q. 4.

ABC Ltd. offered 40,000 equity shares of Rs. 10 each to public at a premium of Rs. 3 per
share. Rs. 5 per share was payable on application, Rs. 5 on allotment (including
premium) and the balance of Rs. 3 on first call. Applications for 70,000 shares were
perceived and prorate allotment was made on 60,000 shares, remaining application were
being refused. Surrender to whom 2800 shares were allotted failed to pay allotment
money and on his failure to pay the call money, his shares were forfeited. Out of forfeited
shares 1,000 shares were reissue as fully paid @Rs. 9 per share. Prepare cash book and
journal of ABC Ltd.

JAIPUR NATIONAL UNIVERSITY, JAIPUR

School of Distance Education & Learning
Internal Assignment No. 2
Bachelor of Commerce (B.Com.)
Paper Code:
Paper Title:

B.Com. 101
Financial Accounting

Last date of submission:

Max. Marks: 15

Note: Question No. 1 is of short answer type and is compulsory for all the students.
It carries 5 Marks. (Word limits 50-100)
Q. 1.
(i)
(ii)
(iii)
(iv)
(v)

Answer all the questions:

What is equity shares? Write the name of various types of shares.
What do you mean by fair value of share? How is it calculated?
Explain the meaning of sub division of shares with suitable example.
What are the objectives of amalgamation?
What is statement of affairs?

Note: Answer any two questions. Each question carries 5 marks (Word limits 500)
Q. 2.
Q. 3.
Q. 4.

What are redeemable preference shares? Discuss the different methods of redeeming the
redeemable preference shares.
What is liquidation of companies? What are the various modes of winding up of
company?
Following are the Balance Sheet of Goodluck Ltd. and Fairluck Ltd. as on 1st April, 2010.
Liabilities

Equity share of Rs. 100 each

Reserve
Creditor

ABC Ltd.
7,00,000
1,40,000
2,10,000
10,50,000

XYZ Ltd.

Assets

ABC Ltd.

Building
4,20,000 Cash
72,000 Debtors
1,38,000 Stock
6,30,000

6,00,000
2,000
1,48,000
3,00,000
10,50,000

XYZ
Ltd.
3,40,000
4,000
1,30,000
1,56,000
6,30,000

ABC Ltd. amalgamated XYZ Ltd. on the basis of intrinsic value of share. The purchase
consideration is to be discharged in the from of fully paid equity shares, entries will be made at
par value only. A sum of Rs. 20,000 is owned by ABCLtd. to XYZ Ltd.
Give journal entries in the books of XYZ Ltd. Prepare the Balance Sheet of ABC Ltd. soon after
the amalgamation.