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E L377 (Pages:4 +4=8) Rgg. NO........o.o..oo..oo...co.......o.

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B.Qom. DEGREE (C.B.C.S.S.) EXAMINATION, II{ARCIf 2Ot8

_,
W
Fifth Semester
Core Course-SPECIAL ACCOUNTING
(Common for'Co-operation, Finance and Taxation and Tlavel
and Tourism)
[For Private Registration Candidates]
Time : Three Hours Mzurimum Weight:25
Instructions z This question paper contains two section* Answer Section I questions in
the itnswer
book prouided. Section Il tnlerrat Elaminationquestians must O" onrriii;;,h;;;;;;.
' papet itself,, Follow the detailed instructions giuen under Section IL
Answers rnay bre written either in Engtish or in Malayalam.
Section.d
This section consists of four bunches of four questions each.
Each bunch caties a weight of L.
Answer all questions.
I. Choose the correct answer from the choices given :

1 Average clause is contained in :

:

(a) Life Inburance Policy" $Y/ Pire Insurance policy.

(c) Health fnsurance. (d) None ef them"
2 valuation Balance sheet is prepared by t

(a) Banking Company. (b) Electricity Company.

Ofrife Insurance Company. (d) Marine fnsurance Company.
3 Cum-interest and ex-interest is related to :

bfi"estment accounts. (b) Fire claims"

(c) Banking Company. (d) Cornputerised Accounting.
4 NPA denotes :

( .&I(rn-Performing Adv ance^. (b) Non-Performing Act.

(c) ffin-Performing Asset. (d) Negligible Performing Asset.
t/

Turn over

GOODWILL TUITION CENTRE, THEVARA 9567902805, 9846710963

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II. Fill in the blanks :

5Assetheldbybanksinsatisfactionofclaimsiscalled
6 n lLp is a voucher in tally which automatically reverse mid-period adjustment accounts.
7Reserverequiredforunexpiredriskonmarineinsuranceis-.
8 A portion of profit payable as bonus to policyholders on maturity of the policy is
called
ilI. State whether the following statements are "True" or "False" :

g Valuation Balance Sheet is prepared by General Insurance Companies. Q

10 All scheduled banks are nationalised banks.
11 For Account Vouchers related to'Cash Payment' transaction, the key is F6. (
L2 Investment Account is a nominal account. J Y
tV. following:
Matctr the
' .$rs Debit Note (in Tally) (a) ctrl + F8.
b14 Rebate on Bills discounted (b) Contract of guarantee.
iru Life Insurance (c) Income. Ln
Commission on reinsurance ceded (d) Unexpired disqount. q-
(e) Contract of ind6mnitY' b
(fl FixedAssets. :
(g) Ctrl +F9. 1
Ia\t.l 'j

(4xl-=4)
Section B
Answer anY fle questions'
Each question carnies I weight. \'
17 Explain the principle of uberimae fidei. '
18 What are the purposes of maintaining an Investment Account ?

19 State the difference between CRR from SLR ?

,/,
?,VV'lhatis double insurapce ?
2V lyhatis the procedure for deleting a ledger / voucher in Tally ?

{Z6rr^rao yo, mean by statutory reserve ? }'crl

Z{WUatis Bonus in Re{uction of Premium ? ,,hd6)'''l'sl'"-} o'-,{lrdb*,,
faek':\
24 What is'Short SaIe'?
(bx1=b)

GOODWILL TUITION CENTRE, THEVARA 9567902805, 9846710963

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E 1377
Section C

u#';::,rxr,ffir""i'#[;,,.
Answers should not exceed tralf
,/ a page each.
zy' between cum-interest and ex-interest
)itrerentiate quotations.
26/What is a contingent liability ? Give two
examples.
@vtnutis slip ry.tl* *r".rl"r rir., are its advantages ?
the steps
in the calculation of the amount of
'"i ):Y.in claim under *loss of profit, policy.
z9rAhe rife fund of Jeevan Life.Assurance
company Ltd. was Rs.
94,00,0;;;; ;;;'rrru.
'/ The interim bonus paid duringthevaluatiooo""ioa*asBs.4,6{000.,iheperiodicalactuariar
valuation revealed the net liability
at Rs. 7z,ob,ooo. The direcior. orrn"
write down investments by Rs. 1,20,000, company proposed to
\' Rs' 5'40'000 to the next viluation period
f*"ii" for taxation Rs. 2,40,000, to carry
forward
Ernd policyholders in the ratio
*
ana to aivide the b"l;;";"tween the shareholders
, , ,0. Si";,-
(i) The Valuation Balance Sheet.
(ii) The net profrt for the valuation period and the distribution
of surplus"
30" on 31st March'2015 victory Bank Ltd.
had a balance of Rs. rg crores in.rebate
discounted" account' During the year on b,l
ended 31st March ,2o16,victory
bills of exchange of Rs' s,ooo ."or". charging Bank Ltd. discounted
interest at Lvi%p.a, the average period
discount being for 73 days. ofthese,
rilr or.I.iLs;;r. 1,200 croreswere due for realizationof
from the acceptor/customers after 31st
March, ,ti;1*r" average period
31st March, 2016 being 36.8 days. outstanding after

victory Bank Ltd' asks you to pass journal entri'es

and show the ledger accounts pertaining
to : (i) Discounting of Bills of Exchange;
and (ii) n"UuL on bill Discointed.

@x2=g)
tionD
Answer any two questions.

31 "",_,1,{hTf;'#r:;T;'r:#,f:!:,uq,h.
Investors Ltd. held on r.1.2018 Rs.
60,000 rf ur;;;;ent securities (Tax free) of*s. 100
each at Rs' 56'500' on 1'6'2013, the
companypurchased a further orn". aoroo0 ofthe security
on 31'7'201i' Rs' 50,000 of security was'sold
atg4r/zex-interest, brokerage
en L.L2.2018; Rs. 20,000 of the security;;;;;" beiagt/zvo.
sold at Rs. 96.
Interest on the securitywas paid each yegr
on Brst Marclr_anqlp-tl
credited bv the bank on BrdApril $eplg5nbgr and was
yg nfr 6.t"u6i***6"5i;. fhu;;ir"
on 31'12'2013 was 96' Investors Ltd. ofthe security
closes its books on BltiDec;;;"
each year.
Draw up the Investment Account in the
books of Investors Ltd.
Turn over

GOODWILL TUITION CENTRE, THEVARA 9567902805, 9846710963

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revealed the
g2 on 1.4.2013, godown of Y Ltd. was destroyed by fire. The records of the company
following Particulars :

Rs.

75,000
Stock on 1.1.20L2
80,000
Stock on 31"12'20L2
3,10,000
: Purchases during 20L2
Sales during 20L2
4,00,000 '

Purchasefroml.!.20.[Stothedateoffire
75,000 *

to the date of fire 1,00,000

Sales from 1.1 .2A13

was*wd!t-euq[rv.].ose-coslwa+Bs'480o'Part
of
In valuing closing stock of 2012,Rs. b,000 Rs' 5'000' The
nOo, J 1{t' z,4oo'Stock salvaged was
this stockwas sold in zorg at a loss of Rs.
godown and the *riof *nich was fuli' insuiea'
made against the insurance company'
Indicate from above amount of claim to be
Generation Bank Limited a
,ino are
33 The following the figures extracted from the books of New
q.*o f.l

scherculed commercial Bank as on 3l'.3 '201'6

:

(Rs.)

37,05,738 \.2)
flmterest and discount received
20,37,452
E r;i:,erest Paid on dePosits # $
10,00,000
20,00,000 &
biielaries and aliowances
tr --^ I allowances
^1]
30,000
l-,*iiectors fee and
90,000
}i"r:rit, and taxes paid
.60 ,286
b*;:stage and telegrams
8,00,009
.%i.ittutorY reserve fund t9' '\r

th 1,90,000
il;*:r"nrnission, exchange and' brokerage
65,000
i=i-*$it on Exchange Transaction
2,00,000
Fr*tit on sale of investments -.IN
l.F*preciation on bank's properties
Sti.ltutory expenses
: 40,000

r*J"i'minarY expenses
' 25,000
1* r

,\riditor's fee
: 5,000
year ended
of New Generation Bank Limited for the
Frcpare the Profit and Loss account
l* 1".;1.2016 "
(2 x 4 = 8)
#

GOODWILL TUITION CENTRE, THEVARA 9567902805, 9846710963