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CHRIST COLLEGE, JAGDALPUR IMPORTANT QUESTION CORPORATE ACCOUNTING UNIT - I Explain the methods of issue of shares. What condition must be fulfilled for issuing shares at discount. What do you mean by forfeiture of shares? In what circumstances can, a company forfeits its shares? Can forfeited shares be re-issued? Give journal entries regarding forfeiture of shares under different cases and reissue of shares Explain the rules regarding the issue and redemption of redeemable preference shares. Give the journal entries that are made in this connection Explain the journal entries to be recorded in connection with the issue and redemption of debentures in different cases. What do you understand by redemption of debentures? Describe methods of redemption of debentures. What do you understand by redemption of preference shares? Describe the methods of redemption of debentures. UNIT - II Mention the various provision of the companies act regarding preparation of profit and loss account. Give a specimen of companys balance sheet according to the companies act 1956 in horizontal and vertical form. What are divisible profits? explain the various provision of companies act regarding distribution of dividend Describe preferential creditors on liquidation of company What do you understand by liquidation of a company? Describe the different modes of widing up and discuss its consequences. What do you understand by liquidators final statement of accounts? When and how is it prepared? What are the sources of receipt for a liquidator? What order of payments is adopted? How is remuneration determined? What do you understand by statement of affairs? Give the proforma UNIT - III Define goodwill and explain various methods of its valuation with suitable examples. What is meant by goodwill? What factors generally effect the goodwill of a business? What do you understand by valuation of shares? What is the necessity of valuation of shares? Describe the difficulties in the way of valuation of shares? What do you understand by valuation of shares? Discuss and illustrate the different methods of valuation of shares. UNIT IV What do you mean by amalgamation in the nature of merger and amalgamation in the nature of purchase? What is the difference between the two? What is internal reconstruction? Discuss the merits and demerits of amalgamation of companies. Explain the meaning ,object and disadvantages of amalgamation. Give journal entries in the books of vendor company and transferor company at the time of amalgamation of the company. What is internal reconstruction? Explain its process and its necessity. What is meant by reduction of capital? Explain the procedure adopted for the reduction of capital and the entries passed in the books of accounts. UNIT V Define holding company, under what circumstances can a company become subsidiary to another company? Define holding company and subsidiary company, what is consolidated balance sheet and how is it prepared? What is minority interest? How is it calculated? Explain the various Schedule / Annesure, which are prepared for balance Sheet of Bank and give its specimen. Give specimen of banks Profit and Loss account and explain its each head in brief. Explain the slip system of book keeping in bank. What are its advantages and disadvantages? Write short notes on the following: Cash Credit, Non banking Assets, bills for Collection, Branch adjustment, Discount on bills discounted, Unexpired Discount, Statutory Reserve of a Banking Company, Acceptances and Endorsement on behalf of customers, Money at call and short notice *********