the managers of tomorrow will not be bigger man than his father was before him

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
SIXTH SEMESTER – APRIL 2013
CO 6606 - ADVANCED CORPORATE ACCOUNTING
Date: 30/04/2013
Time: 1:00 - 4:00

Dept. No.

Max. : 100 Marks

SECTION A
Answer all the questions
(10*2=20marks)
1) What is Purchase Consideration as per AS 14?
2) What is Rebate on bills discounted? How is it dealt in a Bank’s Final statements?
3) List the methods for the calculation of Purchase Consideration
4) Raman Ltd agrees to purchase the business of Krishnan Ltd on the following terms:
• For each of the 10000 shares of Rs.10 each in Krishnan Ltd,2 shares in Raman
Ltd of Rs.10 each will be issued at an agreed value of Rs.12 per share.In addition,Rs.4 per share
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On the date the profit and loss account of
S ltd had a credit balance of Rs.1000 and in reserve Rs. 3000.
Prepare a consolidated balance sheet from the following.
BALANCE SHEET AS ON 31-12-96
LIABILITIES
RS
RS
ASSET
RS
RS
Share
100000
50000
Sundry asset
60000
63000 capital(Rs. 10 each Reserve
10000
5000
Investment- 4000 65000 shares in s ltd
Profit and loss 10000
4000
account
Sundry
5000
4000
creditors
125000

63000

125000

63000

18) The XYZ Electricity Company decided to replace some parts of its plant by an improved plant. The plant to be replaced was built in 2003 for Rs 54, 00,000. It is estimated that it would now cost Rs 80,00,000 to build a new plant of the same size and capacity. The cost of the new plant as per the improved design was Rs1,70,00,000 and in addition, material belonging to the old plant valued at Rs 5,50,000 was used in the construction of the new plant. The balance of the old plant was sold for Rs 3,00,000. Compute the amount to be
Capitalised. Also pass the necessary journal entries and Replacement Account.
SECTION C
Answer any TWO

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