1)
|
What is
meant by ‘Reserve Capital’?
|
1
|
2)
|
What do you mean by ‘Honorarium’ in
case of Not-For-Profit Organisation?
|
1
|
3)
|
Will
interest paid to a partner on loan be debited to Profit &
Loss A/c or Profit & Loss Appropriation A/c? Give
reasons.
|
1
|
4)
|
How does the
factor ‘location’ affect the
goodwill of a firm?
|
1
|
5)
|
What is
meant by ‘Reconstitution of
firm’?
|
1
|
6)
|
The Income &
Expenditure A/c of Raj Club shows subscriptions for 2010
as Rs.70,000. Additional information:
|
a) Subscriptions for 2009 unpaid on 01/01/2010 was Rs.4,000, Rs.3,600 of which was received in 2010.
b) Balance of subscription paid in advance on 01/01/2010 was Rs.1,700. c) Balance of subscription paid in advance on 31/12/2010 was Rs.900.
d) Balance of subscription for 2010 unpaid on 31/12/2010 was Rs.3,500.
Determine the amount of subscription received in cash during the year 2010. 3
7) Sunanda Ltd. issued 4,000
11 % Debentures of Rs100 each
. Pass necessary journal entries for
issue of
Debentures in
the
following cases : 3
a) When debentures are issued at
par and redeemable at 5 % premium.
b) When debentures are
issued at 5 % premium and
redeemable at par.
c) When debentures are issued
at 5 % premium and
redeemable at 8 % premium.
8) State the provisions of Section 79 of the Company’s
Act, 1956 regarding the issue of shares at discount. 3
9) Calculate the interest
on drawings of Sunil @10% per annum for the year ended 31/03/11, in each of these cases: 4
Case I – If he withdraws Rs.4,000 at the beginning of each month.
Case II- If he
withdraws Rs.,5,000 at
the
end of each quarter.
10) X,Y and Z
are
sharing in 2:2:1. Y dies on March
1st,2011 and his share is taken over by X
and Y in the ratio of 3:2.
Profits up to December 31st, 2010 is Rs.50,000. Total goodwill of the firm on the date of his death is Rs.40,000. Journalise in the books of the firm. 4
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