Corporate Accounting Important Questions for Upcoming exam (May’ 2019)
Unit 1: Shares, Bonus Shares and Debentures (Part A or B)
Part A: ACCOUNTING FOR SHARE CAPITAL/REDEMPTION OF PREFERENCE SHARES/ BONUS SHARES
Q. Explain the SEBI’s Guidelines regarding issue of various classes of shares and forfeiture of shares. 2013, 2014
Q. What are the statutory books and statistical books required to be maintained by a company?
Q. Discuss the provisions of law with regard to redemption of Redeemable preference shares as laid down in Sec. 55 of the Companies Act. 2012, 2016, 2018
Q. What do you mean by Bonus shares? Under what circumstances such shares are issued. Illustrate the SEBI guidelines regarding Bonus issue. 2017
Q. Distinguish between:
Ø Capital reserve and reserve capital
Ø Bonus issue and Right issue
Ø Forfeiture of shares and Surrender of shares
Q. Practical Problems:
a) Issue of Shares Specific points: Oversubscription and prorata allotment, 2010, 2014, 2015, 2016
b) Redemption of Preference shares 2017
C) Bonus Shares 2013
Q. Write short notes on:
1) Reserve Capital 2018
2) Securities premium reserve 2015, 2016
3) Discount on issue of shares 2015
4) Forfeiture of Share. 2013, 2015
5) Redeemable Preference Shares 2015
6) Types of share capital
7) Four points of distinction between bonus shares and right shares.
8) Oversubscription and Prorata Allotment. 2017
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CORPORATE ACCOUNTING SOLVED QUESTION PAPERS (2010 TO 2018)
Q. What do you mean by debentures? What are its features?
Q. Distinguish between shares and debentures. State SEBI guidelines for issue of debentures.
Q. How a debenture can be redeemed? State its various methods.
Q. Write short notes on:
Ø Debt Capital 2014
Ø Debenture Trust Deed 2018
Ø Sinking Fund and Redemption of debentures by sinking fund method. 2014, 2016
Ø Convertible Debentures 2017
Ø Open Market Operation
Ø Cum Dividend and Ex-dividend
Ø Debenture redemption reserve
Ø Types of Debentures 2017
Ø Treatment of Discount on issue of shares and Loss on issue of debenture 2013
Q. Practical Problems: Debentures: Sinking fund method (2011, 2012, 2018) |||||Conversion method||| Issue of debentures with redemption option (2015) and ||||||preparation of discount or loss on issue of debentures account (2013).
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Unit 2: FINAL ACCOUNTS OF COMPANIES
Q. Practical Problems: (PART A)
Final Account of Companies, Preparation of Provision for taxation account. 2010, 2011, 2016, 2018
Preparation of Provision for income tax, advance tax account 2017
Or
PART B – Theory Section
Q. What are IFRS and Accounting Standards? Explain its relevance. Explain some specific IFRS (From 1 to 9). 2015, 2016
Q. What are divisible profits? Explain the provisions of Companies Act relating to transfer of profit to reserves.
Q. What is dividend and Interim divided? What are various sources of dividend? Distinguish between Interim and Final dividend.
Q. Explain the format of Statement of profit and loss and Balance sheet of a company. 2016, 2017
Q. Explain the treatment of the following items whiling preparing the final account of a limited company:
a) Share Capital, Loans, Current Liabilities, Fixed Capital Expenditure 2018
b) Managerial remuneration, Preliminary Expenses, Provisions and Reserves, Provision for income tax, Tax deducted at source, Corporate dividend tax, Advance income tax 2015
Q. Write Short notes on:
Ø Payment of dividend out of capital profit. 2015
Ø Advance Payment of Tax 2016
Ø Interim Dividend 2018
Ø Corporate Dividend Tax 2017
Ø Preliminary Expenses.
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Unit – 3: Amalgamation and External Reconstruction (Part – A)
Q. What is amalgamation and external reconstruction? Explain its features. Explain its various types (2010, 2013) with examples. Distinguish between amalgamation and absorption. 2016
Q. Explain Amalgamation in the nature of merger and Amalgamation in the nature of purchase and distinguish between them. Also explain the treatment of reserve in case of amalgamation. 2014, 2015, 2018
Q. What is pooling of interest method and purchase method? Explain the differences between pooling of interest method and purchase method. 2015, 2016
Q. Explain various methods for calculating purchase consideration with examples. 2010, 2014
Q. Practical Problems: Journal Entries for Amalgamation and External Reconstruction and Preparation of balance sheet 2010, 2012, 2014, 2017
Q. Write short notes on:
Ø Purchase consideration 2015, 2017
Ø Amalgamation in the nature of purchase. 2012, 2018
Ø Amalgamation in the nature of Merger 2012, 2018
Ø Treatment of reserves in case of amalgamation in the nature of merger and purchase 2018
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Unit – 3: Internal Reconstruction and Capital Reduction (Part – B)
Q. What is internal reconstruction? Explain its scope.
Q. Explain the various provisions of Alteration and capital reduction of share capital with examples. 2011, 2012, 2017
Q. Write short notes on:
Ø Internal reconstruction 2018
Ø Reduction of share capital 2016
Q. Practical Problems: Journal Entries and Preparation of balance sheet in case of Internal Reconstruction 2011, 2013, 2015, 2016, 2018
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Unit – 4: Accounts of Holding Companies
Q. What do you mean by Consolidated Financial Statements? What are the objectives and scope of these statements? Also point out the advantages and disadvantages of consolidation. 2015, 2018
Q. What are the advantages and disadvantages of Holding Companies? Explain the transactions which must be eliminated while preparing consolidated balance sheet. 2015, 2016
Q. “Balance Sheet of Holding Company to include certain particulars as to its subsidiaries”. Considering this statement explain the provisions of the Companies Act, 2013. 2014, 2017
Q. What do you mean by Holding and Subsidiary Company (2013, 2015, 2016)? How would you ascertain the amount of minority interest and goodwill or capital reserve while preparing a Consolidated Balance sheet? 2010, 2013
Q. Explain the treatment of the following items in Consolidated Balance Sheet: 2012
Ø Contingent liabilities
Ø Mutual owing
Ø Bonus shares
Ø Unrealised Profit
Q. Write short notes on:
Ø Minority interest 2014, 2015, 2017
Ø Cost of Control or Goodwill 2017
Ø Pre-acquisition and post acquisition profit 2013
Ø Consolidated Balance Sheet 2016
Ø Rationale of Holding Companies
Ø Capital Profits 2018
Ø Capital reserve 2014
Q. Practical Problems: Follow illustrations given in your book 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018
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