PREVIOUS YEAR SOLVED PAPERS - July 2016

6. X Ltd. purchased 70 per cent of the shares of Y Ltd. at a price of Rs.1,00,000. Share capital of Y Ltd. was of Rs.70,000 and its accumulated profits amounted to Rs.90,000. What would be the amount of Minority Interest in the consolidated Balance Sheet?

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7. Match the items in Column – I with the items in Column – II and indicate the correct code :

Column – IColumn – II
(a) Debt-Equity ratio 
(b) Proprietary ratio 
(c) Interest coverage ratio 
(d) Capital gearing ratio 

CODES

 (a)(b)(c)(d)
1(i)(ii)(iii)(iv)
2(iii)(iv)(i)(ii)
3(iii)(iv)(ii)(i)
4(ii)(iii)(iv)(i)

  • Option : B
  • Explanation : Different Ratios at Glance
    1. Balance Sheet Ratios:
    2. Revenue Statement Ratios:
    3. Mixed/Composite Ratio:
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8. Ram and Shyam are partners in a firm with capital of Rs.4,80,000 and Rs.3,10,000, respectively. They admitted Ganesh as a partner with 1/4th share of profit. Ganesh brings Rs.3,00,000 as his capital. Ganesh’s share of goodwill will be:

  • Option : B
  • Explanation : On the basis of Ganesh’s capital, total capital of the firm should be 12,00,000 (300000 × 4).
    But the actual capital of the firm is 1090000.
    Hence, goodwill = 1200000 – 1090000 = 110000
    ∴ Ganesh’s Share of Goodwill
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Related Quiz.
July 2016