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CA IPCC : Question Paper (with Answers) - ADVANCED ACCOUNTING May 2011

23 pages, 15 questions, 0 questions with responses, 0 total responses,

CA IPCC
Tilak Vidyalaya Higher Secondary School (TVHSS), Kallidaikurichi

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PAPER 5: ADVANCED ACCOUNTING Question No. 1 is compulsory Answer any five questions from the remaining six questions. Working Notes should form part of the answer. Wherever necessary suitable assumptions should be made by the candidates. Question 1 Answer the following questions: (a) The following information is available for Raja Ltd. for the accounting year 2009-10 and 2010-11: Net profit for ` Year 2009-10 25,00,000 Year 2010-11 40,00,000 No. of shares outstanding prior to right issue 12,00,000 shares. Right issue : One new share for each three outstanding i.e. 4,00,000 shares : Right issue price ` 22 : Last date to exercise rights 30-6-2010 Fair value of one equity share immediately prior to exercise of rights on 30-6-2010 = ` 28. You are required to compute the basic earnings per share for the years 2009-10 and 2010-11. * (b) Delta Ltd. issued 25,00,000 equity shares of ` 10 each at par. 7,00,000 shares were issued to the promoters and the balance offered to the public was underwritten by three underwriters P, Q & R in the ratio of 2 : 3 : 4 with firm underwriting of 50,000, 60,000 and 70,000 shares each respectively. Total subscription received 13,88,000 shares including marked application and excluding firm underwriting. Marked applications were as follows: P 3,00,000 Q 3,50,000 R 4,50,000 Unmarked and surplus applications to be distributed in gross liability ratio. Ascertain the liability of each underwriter. * The requirement of the question was missing in the question paper and has been added later. The Institute of Chartered Accountants of India

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