Advance Accounting Solutions for B.Com 3rd Sem

Introduction
In order to provide solutions for advanced accounting problems in B.Com 3rd semester, it is important to understand the concepts and techniques involved. Advanced accounting involves complex topics such as consolidation of financial statements, partnership accounting, amalgamation, and valuation of shares.

Consolidation of Financial Statements
- Start by identifying the subsidiaries and the parent company.
- Prepare the consolidated balance sheet by adding the assets, liabilities, and equity of all subsidiaries and the parent company.
- Eliminate any intercompany transactions and adjust for any unrealized profits or losses.
- Prepare the consolidated income statement by adding the revenues and expenses of all subsidiaries and the parent company.
- Calculate the non-controlling interest (if applicable) by multiplying the non-controlling interest percentage by the subsidiary's equity.
- Prepare the consolidated cash flow statement by combining the cash flows of all subsidiaries and the parent company.

Partnership Accounting
- Start by calculating the profit or loss sharing ratio between partners.
- Allocate the partnership profits or losses according to the sharing ratio.
- Adjust for any interest on capital, interest on drawings, and salary or commission payable to partners.
- Prepare the final profit and loss appropriation account to distribute the remaining profit or loss.
- Prepare the partners' capital accounts by recording their respective shares of profit or loss, interest on capital, interest on drawings, and any additional capital introduced or withdrawals made.

Amalgamation
- Determine the transferor company (the company being acquired) and the transferee company (the acquiring company).
- Calculate the purchase consideration by adding the net assets acquired and any goodwill or premium paid.
- Prepare the amalgamation balance sheet by combining the assets and liabilities of both companies.
- Adjust for any intercompany transactions and eliminate any unrealized profits or losses.
- Prepare the amalgamation profit and loss account to account for any differences between the purchase consideration and the net assets acquired.

Valuation of Shares
- Determine the valuation method to be used, such as the net asset value method or the price-earnings ratio method.
- Calculate the net asset value per share by dividing the net assets of the company by the number of shares outstanding.
- Calculate the price-earnings ratio by dividing the market price per share by the earnings per share.
- Apply the chosen valuation method to determine the value of the shares.

Conclusion
Advanced accounting in B.Com 3rd semester involves various complex topics such as consolidation of financial statements, partnership accounting, amalgamation, and valuation of shares. By following the provided solutions and understanding the concepts and techniques involved, students can effectively solve advanced accounting problems. Remember to refer to the prescribed textbook, as Pankaj Publications is mentioned as the source, for detailed explanations and examples.