MODEL QUESTION PAPER OCT2014,VYSYA COLLEGE.docx

8/10/2019 MODEL QUESTION PAPER OCT2014,VYSYA COLLEGE.docx

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Vysya college,salem-103

Model examination,Nov2014

Class: III B.Com(CA) Date:

Subject: Fundamentals of Insurance Duration:3 Hour

PART-A(10*2=20)

Answer ALL questions1. What is Insurance?

2. What is Subrogation?

3. What is nomination?

4. What you mean by conditional assignment?

5. What is claim?

6. What is settlement option?

7. Define: Marine Insurance?

8. What is Jettison?

9. What is Re-insurance?

10. Define: Fire Insurance?

PART-B(5*5=25)

Answer ALL questions

11. (a) Write down the special features of Insurance?

(or)(b) Give the benefits of insurance to Business?

12. (a) What are the salient features of Assignment?

(or) (b) What are the various Revivals of policies?


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13.(a) What is Surrender value? What are the various types of Surrender value?

(or) (b) Write short notes on loans?

14. (a) Explain the clauses in marine insurance?

(or) )(b) What you mean by average loss and particular average loss?

15.(a) What are the characteristics of a fire insurance contract?

(or) (b) What are the function of fire insurance?

PART-C(3*10=30)

Answer Any THREE question

16. Explain the general principals of insurance?

17. What do you mean by Assignment? How does it differ from Nomination?

18. How are the claims settled under?

(a) On maturity and ;(b) On death

19. Explain the various kinds of marine policy?

20. What do you mean by Re-insurance? What are the various methods of Re-

insurance?


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Class: II B.Com B Date:

Subject: Corporate accounting-I Duration:3 Hour

PART-A(10*2=20)

Answer ALL questions1. What is mean by under subscription?

2. What do you mean by sweat equity shares?

3. What is capital redemption reserve?

4. What you meant by preference share?

5. Define debenture?

6.What is convertible debenture?

7. Write any two differences between debenture and share?

8 What is goodwill?9.What is Sales Ratio?

10.What is Time Ratio?

PART-B(5*5=25)


11. (a)What are the types of shares?(or)

(b)X Ltd, forfeited 30 shares of Rs. 10 each fully called up, held by Muruganfor non-payment of allotment money of Rs. 3 per share and first and final call of

Rs. 4 per share. He had paid the application money of Rs. 3 per share. These

shares were reissued to David for Rs. 8 per share. Pass necessary journal entries

for forfeiture & reissue of shares.

12.(a)The summarized balance sheet of Gaur Ltd on 31stDe 2004 was as follows.

Liabilities Amount Assets Amount

Share capital :-2,000 redeemable preference 2,00,000 SundryAssets 9,80,000

Shares of Rs.100 each fully paid

80,000 Equity shares of 8,00,000 Cash at bank 4,20,000

Rs. 10 each fully paid

Profit and Loss A/c 2,60,000

Creditors 1,40,000

14,00,000 14,00,000

On the above the preference Shares were redeemed at a premium of 10%.you are

required to pass journal entries. (or)


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(b) A Company had issued 50,000 redeemable preference shares of Rs 10 each

Rs 8 paid. In order to redeem these shares, the company issued for cash 30,000

equity shares of Rs 10 each at a premium of Rs 2 per share. Out of the cash

proceeds, the redeemable preference were paid and the balance was met out of

the reserve fund which stood at Rs 2,50,000. Show the journal entries the books

of the company.

13.(a) Kiran Ltd. Issued 2,000, 12% debenture of Rs 10 each to the public to be

paid Rs4 on application and balance on allotment. All moneys due on debenture

are received. Give the journal entries.(or)

(b) Write a short note on;(a) Ex-Interest (b) Cum-Interest.

14. (a) Calculate the amount of goodwill on the basis of three years purchase of

the last five years average profits. The profits for the last five years are:I year Rs 4,800, II year Rs 7,200, III Year Rs 10,000, IV year Rs 3,000,

V year Rs 5,000.(or)

(b) From the following information calculate the value per equity share:

Rs.

5,000 8% preference shares of Rs.100 each 5,00,000

75,000 equity shares of Rs.10 each, Rs.8 per share paid up 6,00,000Expected profits per year before tax 2,80,000

Rate of tax 50%

Transfer to general reserve every year 20% of the profit

Normal rate of earnings 10%

15.(a) Pankajam Mills Ltd, was incorporated on 31stJuly 1977 to purchase the

business of Hemalatha & Co., as on 1st April 1977. The books of accounts

disclosed the following on 31st

March 1978.(1) Sales for the year Rs. 32,10,400 (1

stApril to 31

stJuly 77 Rs. 8,02,600;

1stJuly 77 to 31

stMarch 1978 Rs. 24,07,800).

(2) Gross profit for the year Rs. 4,12,800; Managing Directors Salary Rs.

12,000; Preliminary expenses written off Rs. 18,000. Company Secretarys salary

Rs. 58,000.

(3) Bad debts written off Rs. 14,890 (prior to 31stJuly Rs. 4,020, after 31

st

July Rs. 10,870)


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(4) Depreciation on machinery Rs. 25,200; General expenses Rs. 51,000;

Advertising Rs. 7,400; Interest on debentures Rs. 20,000.

You are required to prepare a statement apportioning properly the net profit of

the company as between

(i)Profits available for distribution; (ii) Profits prior to incorporation.(or)

(b) The accounts of the murugan Ltd., showed an amount of Rs 3,00,000 to the

credit of P &L A/c on 31.3.2008 out of which the directors decided to place Rs

60,000 to general reserve and Rs 42,000 to debenture redemption fund. At the

annual general meeting held on 15.6.2008, it was decided to place Rs 20,000 to a

development reserve and to pay a bonus of 2 % of the profit to the directors as

additional remuneration. The payment of the halfyearly dividends on Rs

5,00,000 6% cumulative preference shares on Sept.30, 2007 and March, 31, 2008

was confirmed and a dividend @ 10% was declared on the equity share capital ofthe face value of Rs 6,00,000. The balance of P & L A/c is to be carried forward

to next year. Prepare Profit & Loss Appropriation A/c showing the above

arrangements.

PART-C(3*10=30)


16. A limited company issued a prospectus inviting applications for 2,000 shares

of Rs.10 each at a premium of Rs. 2 per share payable as follows

On application Rs. 2 per share

On allotment Rs. 5 per share

On first call Rs. 3 per share

On final call Rs. 2 per share

Amount payable on allotment included premium also. Applications were

received for 3,000 shares and pro-rata allotment was made on applications for

2,400 shares. Money overpaid on applications was employed towards the sumdue on allotment. Ramesh who took 40 shares failed to pay the allotment money,

his shares were forfeited on his failure to pay the first call also. Mohan the holder

of 60 shares failed to pay two calls and his shares were forfeited after second

call. Of the shares forfeited, 80 shares were sold to Krishna credited as fully paid

for Rs. 9 per shares, the whole of Rameshs shares being included. Show the

journal entries.

17.On 31st

Dec 1993 the balance sheet of sundaram ltd, stood as follows:Liabilities Amount Asset Amount


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Equity shares capital 5, 00,000 Sundry assets 7,60,000

Redeemable preference share Bank 1,90,000

Capital 2, 00,000

General reserve 1, 50,000

sundry creditors 1, 00,000

9, 50,000 9,50,000

On the above date the preference shares had to the redeemed. For the purpose

1000 equity shares of Rs100 each were issued at Rs 110.the were immediately

subscribed and paid for the preference shares were duly redeemed. Give journal

entries and balance sheet after redemption.

18. Kamakshi Ltd issued 1,000, 8% debenture of Rs100 each .Give journalentries in each of the following cases:

(i) The debenture are issued and redeemed at par.

(ii) They are issued at a discount of 5% but redeemed at par.

(iii) They are issued at a premium of 10% but redeemed at par.

(iv)They are issued at a discount of 5% but are redeemadle at a premium of 10%.

19. R.Ltd., issued 10,000 shares of Rs.100 each at a premium of Rs.20 per share.

The entire issue was underwritten as follows:A- 5,000 shares (firm underwriting 1,000 shares)

B- 3,000 shares (firm underwriting 500 shares)

C- 2,000 shares (firm underwriting 500 shares)

The number of shares applied for were 9,000. The following were under marked

applications:

A-3,500 shares; B-1,400 shares; C-1,600 shares including firm underwriting.

Prepare a statement showing their net liability.

20. A limited company was registered with an authorized capital of

Rs30,00,000.In equity shares of Rs 10 each. The following is the list of balance

extracted from its books on 31.12.94.

Particulars Rs

Purchase 9,25,000.

Wages 4,24,325.manufacturing expenses 65,575.


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Salaries 70,000.

Bad debts 10,000.

Directors fees 31,125.

Debenture interest paid 45,000.

Preliminary expenses 25,000.

Call-in-arrears 37,500.Plant & machinery 15,00,000.

Premises 16,50,000.

Interim dividend paid 1,87,500.

Furniture & fittings 35,000.

Sundry debtors 4,36,000.

General expenses 84,175

Stock on 1-1-94. 3,75,000.Cash in hand 1,00,000.

Goodwill 28,750.

Cash at bank 1,99,500.

Subscribed and fully called up capital 20,00,000.

Profit & loss account(cr) 72,500.

6%debenture 15,00,000.

Sundry creditors 2,90,000.Bills payable 1,67,500.

Sales 20,75,000.

General reserve 125,000.

You are required to prepare trading and profit & loss account for the year

ended 31.12.94 and balance sheet as on that date, after making the following

adjustments. Depreciation plant & machinery 10%, provide half year interest on

debenture also write off Rs2,500 from preliminary expenses and make provisionfor bad and doubtful debts of Rs 4,250 on sundry debtors. Stock on 31

st

December 1994 was Rs 4,55,000.


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Class: II B.Com(CA) Date:

Subject: Marketing Duration:3 HourPART-A(10*2=20)


1.Define marketing?

2.State the meaning of buying motive?

3. What is primary market?

4.Mention any two merits of Railway transport?

5.Define warehouse?

6.What you mean by storage?

7.What is mean by standardization?

8. What is grading?

9. What is mean by product diversification?

10Who are middlemen?

11.What is product life cycle?

12.What is product mix?

13.What you mean by buying?


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14.Write the meaning about new product?

15.write short note on transport?

PART-B(5*5=25)


16(a) Explain the various types of markets?

(or)(b) Explain the important of marketing?

17. (a)Is marketing a science or Art?Explain.

(or) (b)What are the function of transport?

18.(a) Write down about merits and demerits of air transport?

(or) (b) Explain the different types of buying?

19. (a) What are the function of packaging?

(or) )(b) Describe the important feature of product?

20.(a)What are the merits and demerits of water transport?

(or) (b) Write the facilities about product alteration?


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PART-C(3*10=30)


21.Explain the features of modern marketing?

22. Write briefly about various functions of marketing?

23. What are the requites of good package?

24. Explain the steps to be followed in new product introduction?

25. Explain the stages of product life cycle?

MODEL QUESTION PAPER OCT2014,VYSYA COLLEGE.docx

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