60132/BPZ4A/ BPF4A/BPW4A/BPG4A

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1 APRIL 2015 Time : Three hours Maximum : 75 marks PART A (10 2 = 20 marks) Answer any TEN questions. 1. What is Human Resource Accounting? ÛuÁÍ PnUQ À GßÓõÀ GßÚ? 2. Define computer. PoÛ & Áøμ Ö. 3. What is Absorption? Dº GßÓõÀ GßÚ? 4. Give the journal entry for purchase consideration receivable. öpõò uà Ö ß ö Ó Ási uøpõú uø SÔ mk vøáz u P. 5. What is minority interest? ]Ö õßø º»ß GßÓõÀ GßÚ? 6. What is subsidiary company? xøn {Ö GßÓõÀ GßÚ? 7. Write a note on non-banking assets. Á[Q À»õ ö\õzxupò SÔzx SÔ ÁøμP. 8. What is statutory liquidity ratio? \mh }º ÂQu GßÓõÀ GßÚ? 9. What is whole life policy? Ê B²Ò õ¼] GßÓõÀ GßÚ? 10. Give the meaning of Reversionary Bonus. uø»rì õöuà \õº u FUPz öuõøp ß AºzuzvøÚz u P.

2 11. What is Liquidation of a company? {Ö U Pø» GßÓõÀ GßÚ? 12. Write a note on members voluntary winding up of company. {Ö zøu EÖ ÚºPÒ uõ õp Á Pø»zxU öpõòðuà SÔzx SÔ ÁøμP. PART B (5 5 = 25 marks) Answer any FIVE questions. All questions carry equal marks. 13. Give the specimen of current cost income statement. h AhUP Á õú AÔUøP ß õv iázøuz u P. 14. What are the different methods of calculating purchase consideration? öpõò uà Ö øúu PnUQk À ÁÖ øópò õøá? 15. Balance sheet as on 31 st March 2007 : Liabilities H S Assets H S Rs. Rs. Rs. Rs. Share capital : Sundry assets 20,000 12,000 In Re. 1 fully paid shares 12,000 6,000 Investment : Reserve 3,000 2, shares in S Ltd. 7,500 Profit and loss a/c 2,000 1,000 Sundry liabilities 10,500 3,000 27,500 12,000 27,500 12,000 H Ltd. has acquired shares on 31 st March Prepare consolidated balance sheet. õºa 31, 2007& õøí C {ø»usô : ö õö PÒ H S ö\õzxupò H S ¹. ¹. ¹. ¹. [S uà Ø» ö\õzxupò 20,000 12,000 ¹. 1 v ÒÍ ÊÁx u½k ö\¾zu mh [SPÒ 12,000 6,000 S ¼ªöhmiÀ. Põ 3,000 2, [SPÒ 7,500 C»õ mh P/S 2,000 1,000 Ø» ö õö PÒ 10,500 3,000 27,500 12,000 27,500 12,000 õºa 31, 2007 AßÖ H ¼ªöhm [SPøÍ øp P kzv x. JßÖ vμmh mh C {ø»u SÔ ø z u õ UP. 2

3 16. From the books of accounts of new Bharat Bank Ltd. as on 31 st March 2006, the following particulars regarding loans and advances given by the Bank in India are available : Rs. (a) Loans to corporate sector fully secured (excluding banks but including companies in which directors are interested) 10,00,000 (b) Loan to Vijaya Bank Ltd. fully secured 3,00,000 (c) Debts due by officers (excluding directors, fully secured) 2,00,000 (d) Loans to non-corporate sector-fully secured 9,00,000 (e) Loans to Nagarik Bank Ltd-fully secured 4,00,000 (f) Debts due by Manoj, director of the bank-fully secured 1,00,000 (g) Debts considered good which are unsecured 5,00,000 (h) Debts due by companies in which the directors are interested, fully secured 6,00,000 (i) Maximum amount of debts at any time during the year 15,00,000 (j) Doubtful debts 50,000 (k) Provision for bad and doubtful debts 75,000 (l) Maximum amount of debts due by officers and directors at any time during the year 5,00,000 You are required to show how the items are statutorily required to be entered in the balance sheet of the bank. õºa 31, 2006& õøí v õμz Á[Q ¼ªöhmiß HkPμ x, Á[Q C v õâà ÁÇ[Q PhßPÒ ØÖ ß n SÔzu  μ[pò R Ç uμ mkòíú. ¹ (A) {Ö Aø PÐUS AÎzu Phß ÊÁx øn øh x (Á[QPÒ uâºzx BÚõÀ C US ºPÒ BºÁ ÒÍ {Ö [PÒ \ºzx) 10,00,000 (B) Âá õ Á[QUS ÁÇ[Q Phß- ÊÁx øn øh x 3,00,000 (C) A¾Á»ºPÎhª x Áμ Ási Phß (C US ºPÒ uâºzx, ÊÁx øn øh x) 2,00,000 (D) {Ö Aø AÀ»õuøÁPÐUS ÁÇ[Q Phß ÊÁx øn øh x 9,00,000 (E) õp U Á[QUS ÁÇ[Q Phß ÊÁx øn øh x 4,00,000 3

4 ¹ (F) Á[Q C US º Úõâhª x Áμ Ási Phß& ÊÁx øn øh x 1,00,000 (G) Á`»õPUTi PhßPÒ, øn ØÓx 5,00,000 (H) C US ºPÒ BºÁ ÒÍ {Ö [PÎhª x Áμ Ási Phß, ÊÁx øn øh x 6,00,000 (I) øh øó BsiÀ G u μzv¾ ÁÇ[PUTi Phß Ea\ Áμ z öuõøp 15,00,000 (J) I UPhßPÒ 50,000 (K) ÁμõUPhß ØÖ I U PhßPÐUPõÚ JxUS 75,000 (JÍ) h BsiÀ G u μzv¾ A¾Á»ºPÒ ØÖ C US ºPÎhª x Áμ Ási Ea\ AÍÄU Phß 5,00,000 Á[Q ß C {ø»usô À \mh ºÁ õp C u CÚ[PÒ GÆÁõÖ v k Gß øuu PõmkP. 17. From the following figures appearing in the books of Fire Insurance division of a General Insurance Company, show the amount of claim as it would appear in revenue account, by preparing schedule 2, claims incurred. Direct Business Rs. ('000) Re- Insurance Rs. ('000) Claims paid during , Claims payable Claims received 230 Claims receivable Expenses of management 230 (Includes Rs. 35 thousand surveyor s fees and Rs. 45 thousand legal expenses for settlement of claims) ö õxupõ mk {Ö zvß wupõ mk Âß HkPÎÀ uõßö RÌUPsh  μ[pî¼ x AmhÁøn 2&Iz u õ uß» Á Áõ ÚU PnUQÀ uõßóuti PõμÀ öuõøp øú Põs UP. 4

5 μi öuõèà ¹.. ('000) Ö&Põ k ¹. ('000) &À PõμÀPÒ ö\¾zv x 4, PõμÀPÒ ö\¾zu Ási x PõμÀPÒ ö ØÓx 230 PõμÀPÒ ö Ó Ási x »õsø a ö\»äpò 230 ( PõμÀPøÍz wºus ö õêx HØ mh AÍÃmhõͺ Pmhn ¹. 35,000&, \mha ö\»äpò ¹. 45,000& CvÀ \º xòíx) 18. Raman Ltd. agrees to purchase the business of Krishnan Ltd. on the following terms : (a) (b) (c) For each of the shares of Rs. 10 each in Krishnan Ltd. 2 shares in Raman 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% debentures worth Rs. 80,000 will be issued to settle the Rs. 60,000 9% debentures in Krishnan Ltd. Rs. 10,000 will be paid towards expenses of winding up. Calculate the purchase consideration. μõ ß ¼ªöhm RÌUPsh { uøúpîß i Q ènß ¼ªöhmiß öuõèø» Áõ[P iä ö\ ux. (A) Q ènß ¼ªöhmiß ¹. 10 Ãu v ÒÍ [SPÒ JÆöÁõßÔØS μõ ß ¼ªöhmiÀ ¹. 10 Ãu v ÒÍ 2 [SPÒ JßÖ ¹. 12 Ãu AÎUP h Ásk. CuÝhß Tku»õP JÆöÁõ [QØS ¹. 4 Ãu öμõup AÎUP h Ásk. (B) Q ènß ¼ªöhmiß ¹. 60,000 9% PhÜmk zvμ[pøí wºä ö\ ÁuØS ¹. 80,000 8% PhÜmk zvμ[pò öáî h Ásk. (C) Pø» a ö\»äpðupõp ¹. 10,000 ÁÇ[P h Ásk. öpõò uà Ö øúu PnUQkP. 5

6 19. The trial balance of the Nedungadi Bank Ltd. as on 30 th June 2004 shows the following balances : Rs. Interest and discount 45,40,600 Rebate on bills discounted ( ) 4,750 Bills discounted and purchased 3,37,400 The unexpired discount as on is estimated to be Rs. 5,560. Give the necessary adjusting entries and calculate the amount of interest and discount to be credited to profit and loss a/c. áüß 30, 2004& õøí ö k[põi Á[Q ¼ªöhmiß C a \õuøú ¼ x RÌUPsh C UPÒ uμ mkòíú. ¹. Ámi ØÖ uòð i 45,40,600 õøöa^møh Ámhgö\ ux «uõú uòð i ( ) 4,750 õøöa^mk Ámhg ö\ ux ØÖ öpõò uà ö\ ux 3,37, AßÖ Põ»õÁv õpõu uòð i PoUP mhx ¹. 5,560. uøá õú \ UPmhÀ SÔ mk väpøíz u P ØÖ C»õ mh P/S&À ÁμÄ øáup Ási Ámi ØÖ uòð iupõú öuõøp øú PnUQkP. PART C (3 10 = 30 marks) Answer any THREE questions. 20. The following information relating to Malar Ltd. for the year ended is provided to you and you are required to calculate net monetary gain or loss for the year Rs. Net monetary assets on ,000 Net monetary assets on ,000 Transactions for the year are given below : Cash sales 40,000 Credit sales 50,000 Credit purchases 35,000 Wages 10,000 Other Operating expenses 5,000 Interest paid on ,000 6

7 General price index on = 100 General price index on = 150 Average index for the year = õ Íõk iáøh² BsiØPõÚ»º ¼ªöhmiß R DzÒÍ Â μ[pò E[PÐUSz uμ mkòíú ØÖ 2006& BsiØPõÚ {Pμ n Buõ AÀ»x mhzvøú }º PnUQkP. ¹ AßÖ {Pμ na ö\õzxupò 5, AßÖ {Pμ na ö\õzxupò 35,000 C u Á hzvøpõú háiuøppò R Ç uμ mkòíú : öμõup ÂØ øú 40,000 Phß ÂØ øú 50,000 Phß öpõò uà 35,000 T¼ 10,000 Ó ö\ À øóa ö\»äpò 5, AßÖ Ámi ö\¾zv x 10, AßÖ ö õx Âø»U SÔ±möhs = AßÖ ö õx Âø»U SÔ±möhs = 150 C u Á hzvøpõú \μõ\ U SÔ±möhs = X Ltd. is absorbed by Y Ltd. Given below are the balance sheets of the two companies taken after revaluation of their assets on a uniform basis. Balance sheet of X Ltd. Liabilities Rs. Assets Rs. Authorised capital : 9000 shares of Rs. 300 each 27,00,000 Sundry assets 33,70,000 Paid-up capitals : Cash in hand 7, shares of Rs. 300 each Rs. 270 paid up 24,30,000 Creditors 1,10,000 Reserve fund 8,07,000 Profit and Loss account 30,000 33,77,000 33,77,000 7

8 Balance sheet of Y Ltd. Liabilities Rs. Assets Rs. Authorised capital : Sundry assets 87,15, shares of Rs. 180 each 72,00,000 Cash in hand 55,000 Paid up capital : shares of Rs. 150 each paid-up 60,00,000 Reserve fund 25,70,000 Profit and loss a/c 70,000 Creditors 1,30,000 87,70,000 87,70,000 The holder of every three shares in the X Ltd. was to receive five shares in the Y Ltd plus as much cash as its necessary to adjust the rights of share holders of both the companies in accordance with the intrinsic values of the share as per respective balance sheets. Pass the necessary journal entries in the books of Y Ltd. and prepare the balance sheet giving effect to the above scheme of absorption. X ¼ªöhmiøÚ Y ¼ªöhm Dº ö\ ux. ö\õzxupøí J μ õv õú Ai øh À Ö v k ö\ u ÓS C {Ö [PÎß C {ø»u SÔ PÐ R Ç uμ mkòíx. X ¼ªöhmiß C {ø»usô ö õö PÒ ¹ ö\õzxupò ¹ A[RP UP mh uà : 9000 [SPÒ ¹. 300 Ãu 27,00,000 Ø» ö\õzxupò 33,70,000 ö\¾zv uà : øp öμõup 7, [SPÒ ¹. 300 Ãu & ¹. 270 ö\¾zu mhx 24,30,000 PhÜ uõºpò 1,10,000 Põ {v 8,07,000 C»õ mh P/S 30,000 33,77,000 33,77,000 Y¼ªöhmiß C {ø»usô ö õö PÒ ¹. ö\õzxupò ¹. A[RP UP mh uà : Ø» ö\õzxupò 87,15, [SPÒ ¹. 180 Ãu 72,00,000 øp öμõup 55,000 ö\¾zv uà : [SPÒ ¹. 150 Ãu ö\¾zu mhx 60,00,000 Põ {v 25,70,000 C»õ mh P/S 70,000 PhÜ uõºpò 1,30,000 87,70,000 87,70,000 8

9 X ¼ªöhmiÀ ßÖ [SPÒ øázv Áº Y ¼ªöhmiÀ 5 [SPøÍ ö ØÖU öpõòí Ásk. C {Ö [PÎß C {ø»usô ß i [SPÎß EÒ v GßÚ Áõ A u Ai øh À «v²òí öuõøpus öμõup õp ÁÇ[P Ásk. Y ¼ªöhmiß HkPÎÀ uøá õú SÔ mk väpøíz u x Dº ØS ÓS EÒÍ C {ø»usô ø z u õº ö\ P. 22. On 31 st March, 2006 the Balance sheets of H Ltd. and its subsidiary S Ltd. stood as follows : Liabilities H Ltd. S Ltd. Assts H Ltd. S Ltd. Rs. Rs. Rs. Rs. Equity share Fixed assets 5,50,000 1,00,000 capital 8,00,000 2,00,000 75% shares in S Ltd. General reserve 1,50,000 70,000 (at cost) 2,80,000 Profit and loss a/c 90,000 55,000 Stock 1,05,000 1,77,000 Creditors 1,20,000 80,000 Other current assets 2,25,000 1,28,000 11,60,000 4,05,000 11,60,000 4,05,000 Draw a consolidated balance sheet as at 31 st March, 2006 after taking into consideration the following information : (a) H Ltd. acquired the shares on 31 st July 2005 (b) S Ltd. earned a profit of Rs. 45,000 for the year ended 31 st March 2006 (c) On January 2006, S Ltd. sold goods to H Ltd. costing Rs. 15,000 for Rs. 20,000. On 31 st March, 2006 half of these goods were lying as unsold in the godown of H Ltd. õºa 31, 2006& õøí H ¼ªöhm ØÖ AuÝøh xøn {Ö S ¼ªöhm BQ ÁØÔß C {ø»usô PÒ ßÁ õö : ö õö PÒ H ¼ªöhm S ¼ªöhm. ö\õzxupò H ¼ªöhm S ¼ªöhm ¹. ¹. ¹. ¹. ºø {ø»a ö\õzxupò 5,50,000 1,00,000 [S uà 8,00,000 2,00,000 75% [SPÒ S ¼ªöhm ö õxupõ 1,50,000 70,000 (AhUPzvÀ) 2,80,000 C»õ mh P/S 90,000 55,000 \μuq 1,05,000 1,77,000 PhÜ uõºpò 1,20,000 80,000 Ó h a ö\õzxupò 2,25,000 1,28,000 11,60,000 4,05,000 11,60,000 4,05,000 9

10 RÌUPsh  μ[pøí PnUQÀ GkzxU öpõsh ÓS õºa 31, 2006& õíßö J [Qøn u C {ø»usô øú u õº ö\ P. (A) áüø» 31, 2005 AßÖ H ¼ªöhm [SPøÍ øp P kzv x (B) õºa 31, 2006& õ Íõk iáøh² BsiØS S ¼ªöhm Dmi C»õ ¹. 45,000 (C) áúá 2006&À ¹ AhUP ÒÍ \μuspøí ¹. 20,000&ØS S ¼ªöhm, H ¼ªöhmiØS ÂØÓx. õºa 31, 2006&À AvÀ õv \μuspò H ¼ªöhmiß shp \õø» À ÂØPõ À EÒÍx. 23. From the following prepare a Life Insurance Revenue a/c as on Rs. ('000) Claims by death 16,890 Agent s salaries and allowances 6,420 Surrender values paid 2,810 Actuarial expenses 1,520 Premiums 94,836 Commission to agents 8,900 Salaries 13,500 Medical fees 1,200 Travelling expenses 1,800 Director s fees 900 Agents balances 750 Claim expenses 1,432 Premium outstanding ( ) 2,134 Premium outstanding ( ) 3,143 Investments 1,46,700 Share capital 2,00,000 Sundry creditors 9,200 Life assurance fund (1.4.05) 3,53,672 10

11 Rs. Reserve fund 1,46,000 Outstanding interest on advances ( ) 1,994 Bonus paid with claims 2,700 Endowment assurance matured 24,415 Annuities paid 1,350 Interest revenue 19,060 Rent, rates and taxes 5,475 General charges 1,860 Fees received 172 Bonus paid in cash 2,825 Advertisement 726 Consideration for annuities granted 12,853 Printing and stationary 650 Claims O/S (1.4.05) 2,376 Claims O/S ( ) 3,735 Loans on policies 38,300 Loans on mortgages 2,90,560 Freehold premises 1,22,600 Furniture and fittings 64,100 Cash on hand and deposits 76,300 RÌUPshÁØÔ¼ x, AßÖ B²Ò Põ mk Á Áõ Ú PnUQøÚz u õº ö\ P. ¹. ('000) CÓ ß» PõμÀPÒ 16,890 PÁº \ Í ØÖ ipò 6,420 J øh v PÒ ö\¾zv x 2,810 Á hõ vμ ö\»äpò 1,520 øú [PÒ 94,836 PÁºPÐUS uμs 8,900 11

12 \ Í 13,500 zxáu Pmhn 1,200 õusáμzxa ö\»äpò 1,800 C US º Pmhn 900 PÁº C PÒ 750 PõμÀ ö\»äpò 1,432 øú Áμ Ási x ( ) 2,134 øú Áμ Ási x ( ) 3,143 u½kpò 1,46,700 [S uà 2,00,000 Ø» PhÜ uõº 9,200 B²Ò Põ mk {v (1.4.05) 3,53,672 Põ {v 1,46,000 öpõk h Ási Ámi ØÖ ß n ( ) ¹. 1,994 PõμÀPÐhß ö\¾zv FUPzöuõøP 2,700 Tmk õ¼] vºä 24,415 BskzöuõøP ö\¾zv x 1,350 Ámi Á õú 19,060 ÁõhøP² Á ² 5,475 ö õxa ö\»äpò 1,860 Pmhn ö ØÓx 172 öμõup õpa ö\¾zv FUPzöuõøP 2,825 ÂÍ μ 726 Bskz öuõøp AÎzuuØPõP Qøhzu Ö ß 12,853 Aa_ ØÖ GÊxö õ ÒPÒ 650 PõμÀPÒ öpõk h Ási x (1.4.05) 2,376 PõμÀPÒ öpõk h Ási x ( ) 3,735 12

13 õ¼]pò «uõú Phß 38,300 Ah õúu Phß 2,90,560 øn ØÓ ÁÍõP[PÒ 1,22,600 AøÓP»ß ØÖ ö õ zxupò 64,100 øp öμõup ØÖ øá PÒ 76, The following particulars relate to a limited company which has gone into voluntary liquidation. You are required to prepare the liquidator s final account allowing for his 3% on the amount realised and 2 21 % on the amount paid to the unsecured creditors. Share capital issued : 5000 purchase shares of Rs. 100 each (fully paid) equity shares of Rs. 10 each fully paid equity shares of Rs. 10 each, Rs. 8 paid. Assets realised Rs. 9,24,000 excluding amount realised by sale of securities held by the secured creditors. Rs. Preferential creditors 24,000 Unsecured creditors 8,51,094 Secured creditors (security realised Rs. 1,62,000) 1,38,000 Debentures having a floating charge on the assets 3,00,000 Expenses of liquidation amounted to Rs. 9,000 A call of Rs. 2 per share on the partly paid equity shares was duly paid except in case of one shareholder owning 1200 shares. uõ õp Á Pø» ØSÒÍõÚ J Áøμ Ö {Ö zvß Â μ[pò R Ç uμ mkòíú. Pø» õí US ö\õzxupò wºä ö\ mhvà 3%& ØÖ øn ØÓ PhÜ uõºpðus ö\¾zx öuõøp À 2 21 %& Fv õpu PnUQmk Pø» õí ß CÖvU PnUPÔUøPø z u õº ö\ P. [S uà öáî mhx 5000 ßÝ ø [SPÒ ¹. 100 Ãu ( ÊÁx ö\¾zu mhx) ºø [SPÒ ¹. 10 Ãu ÊÁx ö\¾zu mhx ºø [SPÒ ¹. 10 Ãu ¹. 8 ö\¾zu mhx. 13 ¹.

14 ö\õzxupò ÂØÖ wºáõúx ¹. 9,24,000 CvÀ øn U PhÜ uõºpîh øn ÒÍ ö\õzxupò ÂØÓx \ºUP hâàø». ¹. ßÝ ø U PhÜ uõºpò 24,000 øn ØÓ PhÜ uõºpò 8,51,094 øn U PhÜ uõºpò ( øn a ö\õzxupò ÂØÓx ¹. 1,62,000) 1,38,000 ö\õzxupò «x øn øh PhÜmk zvμ[pò 3,00,000 Pø» a ö\»äpò ¹. 9, [SPøÍ øázv US J [SuõμºuÂμ AøÚÁ hª x ¹. 2 Sv ö\¾zu mh [SPÒ «x AøÇ n õp ö Ó mhx. 14