B.Com. 101 FINANCIAL ACCOUNTING Answer any three questions. Each question carries 10 marks each: Q. 1 What is debenture? Differentiate between debenture and share. Explain the various types of debentures. OR ABC Ltd. offered 40,000 equity shares of Rs.10 each to public at a premium of Rs.3 per share. Rs.5 per share was payable on application, Rs.5 on allotment (including premium) and the balance of Rs.3 on first call. Applications for 70,000 shares were received and prorate allotment was made on 60,000 shares, remaining application were being refused. Surender to whom 2,800 shares were allotted failed to pay allotment money and on his failure to pay the call money, his shares were forfeited. All forfeited shares were reissue as fully paid @ Rs. 8 per share. Prepare cash book and journal of ABC Ltd. Q. 2 What is meant by valuation of shares? What is the usefulness of valuation of shares? What factor affected the value of shares? OR What do you understand by goodwill? Explain the methods of valuation of goodwill. Q. 3 What is meant by internal reconstruction? Give the conditions when internal reconstruction becomes desirable. OR The following is the Balance Sheet of N Ltd. as on 31st March, 2010: Liabilities Rs. Assets Rs. 7,500 7% Pref. Share @ Patents 3,72,000 Rs.100 each 7,50,000 Leasehold Premises 1,30,000 5,000 Equity Share @ Rs. Discount on issue of 100 each 5,00,000 shares 18,000 Bank overdraft 20,000 Debtors 76,500 Creditor 30,000 Plant 4,20,000 Preliminary expenses 12,000 Profit and loss a/c 2,15,000 Cash 1,500 Stock 55,000 13,00,000 13,00,000 The company suffered losses and was not getting on well. The following scheme of reconstruction was adopted: a) The 7% reference shares are reduced to an equal number of fully paid 7% preference shares of Rs. 50 each. b) The equity shares are reduced to an equal number of fully paid equity shares of Rs. 25 each. c) The amount available be used to written off Rs. 30,000 of the leasehold premises, Rs. 15,000 of stock, 20% plant, Rs. 16,500 of debtors and the balance available of patents. Journalise the transaction and prepare the Balance Sheet after the reconstruction has been carried out. Q. 4 What do you understand by amalgamation of companies? Distinguish between amalgamation in the nature of merger and amalgamation in the nature of purchase. OR Following are the Balance Sheet of Goodluck Ltd. and Fairluck Ltd. as on 1st April, 2010: Liabilities Goodluck Fairluck Assets Goodluck Fairluck Ltd. Ltd. Ltd. Ltd. Equity share of 7,00,000 4,20,000 Building 6,00,000 3,40,000 Rs.100 each Reserve 1,40,000 72,000 Debtors 1,48,000 1,30,000 Creditor 2,10,000 1,38,000 Stock 3,00,000 1,56,000 Cash 2,000 4,000 10,50,000 6,30,000 10,50,000 6,30,000 Goodluck Ltd. amalgamated Fairluck Ltd. on the basis of intrinsic value of share. The purchase consideration is to be discharged in the form of fully paid equity shares, entries will be made at par value only. A sum of Rs. 20,000 is owned by Goodluck Ltd. to Fairluck Ltd. Give journal entries in the books of Fairluck Ltd. Prepare the Balance Sheet of Goodluck Ltd. soon after the amalgamation. Q. 5 What is liquidation of companies? What are the various modes of winding up of company? OR Write a short note on: a) Liquidator account b) Preferential creditors B.Com. 102 COST ACCOUNTING Answer any three questions. Each question carries 10 marks each: Q. 1 What is the meaning of Cost Accounting? Explain briefly the object and advantages of cost accounting. OR Write short note on the followings: a) Economic order quantity b) Store ledger account Q. 2 What do you understand by absorption of overhead? Explain different method of factory overhead absorption. OR Write short note on the followings: a) Labour turnover b) Classification of overhead Q. 3 What is meant by operating coating? In which industries is it used? Prepare a Transport Operating Cost Sheet with imaginary figures and discuss the various items included in it. OR Prepare a cost sheet from the following particulars: Rs. Stock on 1.1.2010: Finished goods 32,400 Raw material 48,000 Stock on 31.12.2010: Finished goods 29,300 Raw material 50,300 Purchases of raw material 41,600 Direct wages 32,000 Sale of finished goods 1,25,600 Factory overheads 18,000 Office and administrative overheads 4,300 Selling overheads 8,000 Q. 4 Q. 5 What is Contract Account? What are the different methods of calculating profit on an incomplete contract? Explain with illustrations OR What do you understand by Process Costing? Explain Normal Wastage, Abnormal Wastage and Abnormal Gain and state how they should be dealt with in process cost accounting. What is meant by the term variance analysis? Explain the objectives and limitations of variance analysis. OR From the following information, compute different types of Material Variance: Material Standard Actual A 16 tons @ Rs.60 per ton 20 tons @ Rs.45 per ton B 24 tons @ Rs.90 per ton 40 tons @ Rs.102 per ton Output 90% of the input 53.1 Tons B.Com. 103 PRINCEPLES OF MANAGEMENT Answer any three questions. Each question carries 10 marks each: Q. 1 What is management? Explain its objectives and functions. OR What is planning? Explain the steps involved in Planning. Q. 2 What do you understand by organization? Explain different type of organizations. OR What is MBO? Explain the steps involved in MBO Comprehensive management function it has wider applications like planning, motivation, performance evaluation Q. 3 What are the different types of Communication? Discuss in detail all the above methods? OR What is leadership? Explain characteristics of different leadership styles. Q. 4 What is motivation? Explain its importance. Distinguish between motivation and satisfaction. OR Write short note on: a) Direction b) Control Q. 5 Define Business Organization. What are the different steps for establishing a new business organization? OR Explain the need and importance of finance. What are the various sources of finance? B.Com. 104 REGULATORY FRAMEWROK OF BUSINESS Answer any three questions. Each question carries 10 marks each: Q. 1 Define the term offer and acceptance. Explain the rules regarding valid acceptance. OR What is consideration? Discuss briefly the legal requirement of valid consideration. Q. 2 Define a contract of sale of goods. Distinguish between a sales and an agreement to sell. OR Who is an unpaid seller? Discuss briefly his right under the Sales of Goods Act. Q. 3 Define agency. How is it created and terminated? OR Who is a bailer? State briefly his rights and duties. Q. 4 Discuss the right and duties of partners. OR Is it compulsory to get every partnership firm registered? What are the consequences of non registration of firm? Q. 5 What do you mean by consumer? Explain the rights of a consumer. .OR State the provisions of consumer Protection Act, 1986 with regard to the sate and the Central Consumer Protection. B.Com. 105 BUSINESS ECONOMICS Answer any three questions. Each question carries 10 marks each: Q. 1 Discuss the nature and scope of business economics. OR Explain the difference between traditional economics and business economics. Q. 2 Explain the law of Equi-marginal utility with the help of a proper example. OR Explain the segregation of price, income and substitution effect in normal, inferior and giffen goods with help of indifference curve analysis. Q. 3 What is demand? Explain the determinants of demand. OR What is demand forecasting? Explain the process of demand forecasting. Q. 4 Explain different types of cost and cost curves with the help of proper example. OR Explain the Law of Variable Proportion in detail. Q. 5 What is perfect competition? Explain price and output determination under this market. OR What id oligopoly? Explain price and output determination under this market. B.Com. 106 ECONOMIC ENVIRONMENT Answer any three questions. Each question carries 10 marks each: Q. 1 Define business. Discuss its characteristics and objectives. OR What is environment? Explain its objectives and needs. Q. 2 Explain the different types of environment. OR Write short notes on: a) Social cultural environment b) Political environment Q. 3 What is economic environment? How is it importance for business? Explain it. OR Write the short note on: a) Industrial policy b) EXIM policy Q. 4 Discuss the problem faced and remedial available for Small Scale Industries in India. OR Discuss the needs and impact of globalization policy on Indian economy. Q. 5 Discuss the role of Five Year Plans in the growth of Indian economy. OR Discuss the problem of poverty in India. How can poverty be reduce. B.Com. 107 BUSINESS COMMUNICATION AND COMPUTER APPLICATIONS Answer any three questions. Each question carries 10 marks each: Q. 1 Define business communication. State and explain different type of communication. OR Explain the merits and demerits of oral and face-to-face communication. Q. 2 What is a main barrier to organizational communication? Discuss. OR Explain methods to remove barriers of communication. Q. 3 What do you mean by resume? Explain the procedure of preparing the resume. OR What is presentation? Explain the tools and techniques of effective presentation. Q. 4 What do you mean by Windows accessories? Write different types of accessories utility of windows and describe them. OR What is control panel in windows? Describe the difference between save and save as. Also explain file manager. Q. 5 What is INDENTING? Describe with suitable example. OR What is mail merge? What do master document and data file mean when we talk about mail merge? Explain mail merge with proper example.