Corporate Accounting Question Paper 2025 [Gauhati University BCOM 2ND SEM Question Papers NEP Syllabus]

Corporate Accounting Question Papers 2025
Gauhati University BCOM 2^nd SEM NEP Syllabus

Paper: BCM0200104 (Corporate Accounting)

Full Marks: 60

Time: 2½ hours

The figures in the margin indicate full marks for the questions. Answer either in English or in Assamese.

1. Answer the following questions as directed: (1×8=8)

(a) Securities Premium is shown in the Balance Sheet under the head ________. (Fill in the blank)

(b) Expenses incurred at the time of formation of a company is known as ________ expenses. (Fill in the blank)

(c) A company can issue fully paid-up bonus shares. (State whether the statement is True or False)

(d) A company’s share buyback cannot exceed ________ % of the sum of its paid-up capital and free reserve. (Fill in the blank)

(e) Reduction in share capital must be sanctioned by the National Company Law Tribunal. (State whether the statement is True or False)

(f) Generally, valuation of shares means valuation of ________ shares. (Fill in the blank)

(g) All the assets and liabilities of the transferor company become the assets and liabilities of the transferee company when amalgamation is in the nature of purchase. (State whether the statement is True or False)

(h) Write the meaning of holding company.

2. Answer in brief any six questions: (2×6=12)

(a) How would you deal with the following items while preparing the company final account?

(i) Directors' fees

(ii) Auditors' fees

(b) Write the meaning of right share.

(c) Write two advantages of issue of bonus shares from the point of view of the company.

(d) What is Super Profit Method of valuation of goodwill?

(e) Mention two ways through which alteration of capital may be done by a company.

(f) Write the meaning of internal reconstruction.

(g) What is buyback of shares?

(h) Mention two objectives of amalgamation of companies.

(i) What is Pre-acquisition Profits?

(j) Explain the meaning of amalgamation in the nature of purchase.

3. Answer any four questions: (5×4=20)

(a) Mention any five advantages of right share.

(b) Trishna Ltd. having a paid-up capital of ₹ 10,00,000 divided into 1,00,000 shares of ₹ 10 each, has a reserve of ₹ 4,25,000. The company has decided to declare bonus out of the reserve and to distribute the same in the form of bonus shares of ₹ 10 each as fully paid-up to the existing shareholders in the ratio of one bonus share for every four shares held in the company. Calculate the amount of bonus to be declared and show the journal entries in the books of the company.

(c) Blue Star Ltd. decided to buyback 20% of its share capital directly from shareholders at ₹ 9 per share. The company’s capital structure before buyback is: Paid-up capital ₹ 4,50,000 in equity shares of ₹ 10 each, securities premium account ₹ 25,000 and General reserve ₹ 45,000. For the purpose of buyback the company issued ₹ 20,000, 10% preference shares of ₹ 100 each. Pass Journal entries to record the above transactions relating to buyback in the books of the company.

(d) The following is the extract of Trial Balance of K. D. Ltd. as on 31.03.2024:

Particulars	Amount (₹)
Sales	3,00,000
Purchases	2,25,000
Opening inventory	70,000
Purchase Return	10,000
Salary and Wages	50,000
Dividend received	6,000
Carriage inward	500
Advertisement	7,500
Staff Welfare expenses	3,000
Dividend paid	8,000

Prepare a statement of Profit and Loss as per Companies Act, 2013 for the year ended 31st March, 2024 after considering the following additional information:

(i) Closing inventory on 31.03.2024: 95,000.

(ii) Outstanding salary: 2,500.

(e) Mention the different methods of ascertaining the consideration for amalgamation.

(f) Write a brief note on ‘Capital Reduction Account’ in the context of internal reconstruction of companies.

(g) Explain the manner of computation of minority interest in a holding company.

(h) What is goodwill? What are its features? (2+3=5)

Also Read: Gauhati University Corporate Accounting Question Papers

Corporate Accounting Question Paper 2022

Corporate Accounting Question Paper 2023

Corporate Accounting Question Paper 2024

Corporate Accounting Question Paper 2025

4. Answer any two questions: (10×2=20)

(a) The following ledger balances have been extracted from books of RKB Ltd. on 31.03.2024.

Particulars	Amount (₹)
12,000 Equity shares of ₹ 100 each	12,00,000
Bank Loan	1,40,000
10% Debenture	5,00,000
Securities Premium	60,000
Sundry Debtors	2,70,000
Loose Tools	30,000
Livestock	1,70,000
Land and Building	6,60,000
Cash in hand	10,000
Furniture	2,00,000
Bills Receivable	60,000
Sundry Creditors	1,60,000
Bills Payable	60,000
General Reserve	1,10,000
Surplus in the Statement of Profit and Loss	3,20,000
Investment	40,000
Cash at bank	90,000
Stock in trade	3,20,000
Machinery	7,00,000

Prepare a Balance Sheet as per the Companies Act, 2013.

(b) The following is the Balance Sheet of X Ltd. as at 31st March, 2024:

Equity and Liabilities	Amount (₹)	Assets	Amount (₹)
Shareholders' fund		Non-Current Assets
(a) Share Capital:		(a) Property, Plant and Equipment:
20,000 Equity Shares of ₹ 10 each	2,00,000	Machinery	1,00,000
10,000 Convertible Pref. Shares of ₹ 10 each	1,00,000	(b) Goodwill	10,000
(b) Reserve and Surplus:		Current Assets
Surplus (Debit balance of P&L)	(70,000)	(a) Inventory	50,000
Non-Current Liabilities		(b) Trade Receivables: Debtors	95,000
Convertible Debentures	30,000	(c) Other Current Assets: Deferred expenses	20,000
Current Liabilities
Trade Payables: Sundry Creditors	15,000
Total	2,75,000	Total	2,75,000

The Company adopted the following scheme:

(a) The equity shares were to be reduced by ₹ 6 each and the preference shares by ₹ 4 each to be reduced.

(b) Goodwill, Deferred expenses and Deficit in statement of Profit and Loss were to be written off and Machineries to be depreciated by 5% and inventory to be written off by 10% respectively.

Pass journal entries to give effect to the scheme.

(c) Sun Ltd. took over the business of Star Ltd. and the following was the Balance Sheet of Star Ltd. as on 31.03.2024:

Equity and Liabilities	Amount (₹)	Assets	Amount (₹)
Shareholders' fund		Non-Current Assets
(a) Share Capital: Equity Shares of ₹ 10 each	6,00,000	Fixed Assets	5,50,000
(b) Reserve and Surplus:		Current Assets
General Reserve	70,000	Inventory	2,40,000
Export Profit Reserve	1,00,000	Trade Receivable (Debtors)	1,00,000
Non-Current Liabilities		Cash	10,000
6% Debentures	1,00,000
Current Liabilities
Trade Payable (Bills Payable)	30,000
Total	9,00,000	Total	9,00,000

Purchase consideration was fixed as follows:

(i) Cash payment of ₹ 2 per share of Star Ltd.

(ii) 90,000 shares of Sun Ltd. of ₹ 10 each fully paid at a premium of ₹ 2 each.

(iii) 6% Debenture of Star Ltd. were discharged at 5% premium by the issue of 7% debentures of Sun Ltd. issued at par. Sun Ltd. revalued fixed assets at ₹ 6,90,000 and other assets at book values while Sundry debtors were taken over at ₹ 95,000. Give Journal entries in the books of Sun Ltd.

(d) Explain the conditions to be satisfied under section 68 of the Companies Act, 2013 for buyback of shares.

(e) The Balance Sheet of H. Ltd. and its subsidiary S. Ltd. on 31st March, 2024 was as follows:

Particulars	H. Ltd. (₹)	S. Ltd. (₹)
EQUITY AND LIABILITIES
1. Shareholders' fund:
(a) Share Capital: Equity share of ₹ 10 each	50,000	10,000
(b) Reserve and Surplus:
Reserve	10,000	—
Surplus (Statement of P&L)	20,000	6,000
Preliminary expenses	(8,000)	(4,000)
2. Current Liabilities:
Sundry Creditors	8,000	8,000
Bills Payable	3,000	2,000
Total	83,000	22,000
ASSETS
1. Non-Current Assets:
(a) Tangible Assets	56,500	12,000
(b) Non-Current Investment: Equity Shares in S. Ltd.	6,500	—
2. Current Assets	20,000	10,000
Total	83,000	22,000

H. Ltd. acquired 60% interest in S. Ltd. All the profits of S. Ltd. was earned after the shares were acquired by H. Ltd. Prepare a Consolidated Balance Sheet.