IGNOU| ACCOUNTANCY - II (ECO - 14)| QUESTION PAPER – (DEC - 2022)| (BDP)| ENGLISH MEDIUM
BACHELOR'S DEGREE PROGRAMME
(BDP)
Term-End Examination
December - 2022
(Elective Course: Commerce)
ECO-14
ACCOUNTANCY-II
Time: 2 Hours
Maximum Marks: 50
Note: Attempt four questions in all. Question No. 1
is compulsory.
हिंदी माध्यम: यहां क्लिक करें
1. Write short notes on the following: 5, 5, 4
(i) Preliminary
expenses and their accounting treatment
(ii) Methods of
Valuation of Goodwill
(iii) Issue of
Debenture as Collateral Security
2. Why are the accounts of branches maintained? What journal
entries are made in the books of Head Office to incorporate the Trial Balance
of an Independent Branch? 4, 8
3. Why are assets and liabilities revalued at the time of
retirement of a partner? Discuss the methods of treatment of goodwill at the
time of retirement of a partner. 6.6
4. On 1st January, 2019 'X' purchased a plant from 'Y' on
Hire Purchase System at a cash price of 40,000 payable in in four equal annual
instalments of ` 10,000 each. First instalment is to be paid on signing the
agreement. 'X' writes off depreciation @ 10% on written down value method.
Interest is charged @ 12% p.a. 'X' could not pay the instalment due on 31st
December, 2020 and 'Y' arranged immediately to take back plant which cost
16,000 allowing 11,000 provided that 'X' paid all the interest due to that date
on the full amount owing. Show Plant account and Y's account in the books of
'X'. 12
5. A Ltd. Company issued a prospectus inviting
applications for 200000 shares of 10 each at a premium of 2 per share payable
as follows:
On application`
3, On allotment ` 4 (including premium), On first call 3 and on second call` 2.
Applications
were received for 300000 shares and allotment was made on pro-rata basis. Money
overpaid on application was adjusted on account of sums due on allotment. R to
whom 400 shares were allotted failed to pay the allotment money and on his
subsequent failure to pay the 1st call his shares were forfeited. M, the holder
of 600 shares failed to pay the two calls and his shares were forfeited after
the 2nd call. Of the shares forfeited, 800 shares were sold to K at 9 per share
as fully paid, the whole of R's shares being included.
Give journal
entries and prepare Bank account. 12
6. Differentiate between Funds Flow Statement and Cash Flow
Statement. How does cash flow analysis help the management in decision- making?
8, 4
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