2023Noon3hours

80
: stipulated
30, 12:00 Marks
January
to Full (as
AM questions
Monday,
1st
SEMESTER
EXAMINATION
9:00 questions.
2023
ST.
COLLEGE
XAVIER'S of question.
number
FEBRUARY extra
No.
pages.
attempt part
together.
(AUTONOMOUS) required Roll
or 8
of
KOLKATA B.COM. not
your question consists
first ink. than securely
do
the black
please each paper
other
- FIRST:
only practicable. work
of
JANUARY or
to So blue paper question
answers
your end
evaluated.
INSTRUCTIONS the
of question all at
pen as
far fasten] The
1 the |
- be ball-point
as the brackets
Accounting
BCHCR2111 attempted,
will words examination,
on
paper)or ownanything
in
questionspen your
THESE given
question the
fountainwrite
Financial in of are
Of
the Answer
not end marks
READ the Use
in Do the
At The 2023
 2023 4.
3 2. Answer 1.
Cash-on-deliveryInstalment
Discounts.
(iv)Trade
(v) Sale. Tuition
(ii)Sales.
(ii)Fees.()State Showt(h1e1) You extracted M/S (b} (a) plant
R420).
manufacturer's
Prepare During The State
1.4.2021, The
31.3.2022. Prepare 2022: The
Subscription
The ) are
Om State debit
following Of
on and the ANY
which absolute required following It th e the
Balance fromShree the Plant 20% is
Sharing
Profit
Ratio balance importantTHREE
difference Subscription
Subscription Advance
Outstanding Subscription
Advance the new year, questions
questions
settlementof its and relate
basis is practice
workmen
onmachinesthree So,
for
surplus. to records:
of a ìnformation al l of questions.
determine: Particulars partnership firm
that Machinery PLEASE
the Capital subscriptionsubscription old the to criteria
publication.
following between the (as
attempted,
subscription earned
receivable plants. of machines Plant
Partners' Account the costing at business stipulated
account for
Account
is business an and DO
IFRS expenditure recognition
during obtained standing.in.the.books
revenues received received 58,800 Machinery NOT
Capital () of the
and from on for
1.4.2021 as a GROUPA in
dissolved. 2021-2022 it to manufacturer ATTEMPT answers
getting is IND
the the from the
Account for in would write were of
will AS. year
2020-2021 of Account elements
Nita above the People question
be 80,000 32,160
wages
off (i.e.
recognized: 2021-2022
year appear purchased to
under 5 15%
information 2022-2 Welfare
at12,860.were.sold.forT6,000.0n as for only
on EXTRA
depreciation on financial in
the paper)
Surplus following The 31.12.2021 1.1.2021 the
Mita and year
3
72,000 023 Club first
Capital for materials
R1,740and were ended
statements. QUESTIONS. wil
for was
the on required
be
the installed 31.12.2021
2,
Method. information is 10,000 70,000 year all evaluated.
Gita 5,0002,0007,000 68,400.
2
40,000 year additions
2021 number
ended by
:
2 to the [3
[3+2=5] [3+2=5] x5=15] of
 GROUPB
Answer ANY FIVE questions. [5x7=35]
6. The following are the details of an item of raw material of Shyam Mills. Find out the value
of stock as on 31.3.2021 if the company follows Weighted Average Method :
1.1,2021 Opening stock Nil
1.1.2021 Purchases 100 units @30 per unit
15.1.2021 Issued for consumption 50 units
1.2.2021 Purchases 200 units @T40 per unit
15.2.2021 ISsued for consumption 100 units
20.2.2021 Jssued for consumption 100 units
13.2021 Purchases 150units @R50 per unit
15.3.2021 Assued for consumption 100 unit

7. M/sA& Cohaving A&Bas equal partners decide to amalgamate with C& Cohaving C&
Das equal partners on the following terms and conditions:
) The new firm AC &Co. shall pay R30,000as goodwillto each firm.
(i) The new firmn shall take over: Investment at 10% depreciation; Land R1,67,000,
Premises at 1,32,500, Machinery at 22,500 and only Trade Liabilities of both the
firms and Debtors at net value. Furniture shall be taken over equally by the
partners.
(iii) Typewriters (written off worth R2,000 belonging to C& Co. and not appearing in
the balance sheet and was not also taken over by the new firm.
(iv) Bank overdraft is immediately discharged.
(v) The capital of new partnership firm shall be 4,00,000 to be contributed equally
The following is the balance sheet of both the firms on the date of amalgamation:
A & Co C& Co A & Co C& Co
Liabilities Assets
() () () ()
Capital Goodwill[purchased] 22,500
A 87,500 Premises 75,000
B 55,000 Land 1,25,000
C 90,000 | Machinery 37,500
D 50,000 Furniture 30,000 15,000

General reserve 20,000 7,500 Investments 25,000 20,000

Investment 5,000 2,500
fluctuation fund
Trade creditors 50,000 25,000 Cash 37,500 30,000
Bills payable 12,500 - Debtors R25,000
Bank overdraft 5,000 25,000 Less: Provisions 2,500 22,500 10,000
Aloan 15,000
2,50,000 2,00,000 2,50,000 2,00,000

Close the ledgers in the books ofA &Co.

2023 3
 16,200
45,000 30,000
1,8006,000 16,200
3240 1,54,500
36,060
60,000 20,000
50,000
20,000 5,000
4,000 1,65,000
6,000
of Balance and Cashprivate ended
ratio
30,000; profits.
and
thefollowing his year
Accounts periodicals
&
Newspaper
in of from the Miscellaneous
By
expenses
losses ck appropriation for
the 40,000
Capital
Overdrawn:CSto
Overdrawn:D realised Payments30,000By
Electricity
charges
Capital Account 6,0003,000 5,000
andof Assets 78,000; taxes books 31.3.2022
goods c/d
Balance
By
basis
profits
was
Partners and
Salaries Library
by Payment Sports
the Furniture Furniture up Rent
sharing 50,000
Premises 28,000
Debtors Capital Murray.AS.
nothing
on 7,000
Stock 10,000 built Ind
partnership Cash Account, 15,600
By By By By
By 2,400
3,000 24,000
30,000 1,50,000
30,000 4,000
2,000. Vs and and 31.3.2021
partnership 12,000; met.was andGarner Receipts 3,600
1,04,400 900 1,54,500
30,000 1,65,000 AS
Reserve insolvent of
Realisation
to be 43143
formulation
the amounted in
Debtors to following
in dissolve hadCapital down
carrying C)became
T6,000the laid
: unlike
dissolution the salary advance
up of
to 2021. were principles
cess
electricity
Qutstanding
charges Securities
been of draw gives
decide Liabilities T45,000.
Premises Account
assuming
that Interest
on
investment for
creditors pro
April,
B
Account:
Capital
Capital
Account:A realisation reserves Receipts in
to expenses received
haveThey General
Reserve
Trade
Creditors of required the Club31st
202$2
March Liabilities
&
Assets: Fixture
and
Furniture
30th Capital
Reserve Loan
Mortgage the To
Sundry
receiptS Govt.
Expenses explainSports Subscriptions
To
D Further
General Apply b/d
and3:2:1:1.
on Outstanding
Goods
Sports
Books
Library in Subscription
The BalanceTo
To Donation Investment
B,C as are estate. Briefly10.Bengal
A,
8.

Sheet
(i) (iii)(iv)You
9.
To
363 2023
2023 Statement
12.The of 11Satyam
(g) () (e) (d) (c) following
a) Mr.
(b) system: books Showunderfinancialacquired the Onnew 50,000
1.10.2019. machine 31.3.2022.
fetchuseful (a)
(b) Additional
Prepare information:
Expenses
All parties.from
suchCredit Sales balance NoAfterEvery M newly1.7.2020, machine Provide
40%library
unpaid cash did Liabilityfor
Creditors
Sundry Capital Machineryof
diminishing life
are meeting week Satyam year a worth Ltd, an
donation
sales not new The of
purchase of acquired a Incomedepreciation books
atweekly maintain Liabilities the
billsother he 2021-2022, the is manufacturing
5 scrap
are fixed Ltd. machine estimated R9,00,000.
hidraws
s Expenses Affairs Account company years machine is @
are than few price balançe & to 10%.
kept collections isweekly machine Expenditure be
sundries and made his of and value. on
R200. costing is capitalized.
which books Mr. from
method. Satyam remaining
in are sold
R20,000 estimated It Furniture
a and sundry M Another incurred firm
file the @20%
R3,25,000 the
and noted include
creditors is on on
carefully. banked the 31st accounting Ltd. respectively started Account
other expenses 61,000
machine useful to and
in Double 50,000
Stock p.a. machine 1,00,000
20% 1,00010,000 December decided be
a on its Fixture
special diary. are at on life 10 of
profit paid the | purchased the yearsoperation the
(f100 Entry Cash Bank
Debtors Fixed year diminishing and
commencement to same costing @15%
drawingsPayments on by 2021 for Bengal
depreciate
2018 th e at
on System. Assets
sales.
cheques. date. the its from
average) Assets was estimated
on 4,20,000 installation Sports p.a.;
are It end
are But follows: as 2019 balance1.4.2018 1.4.2018 sports
all was of
made received Club
of he
the and carefully machines
to depreciate decided to residual which goods
was for
in 2021-2022 method! for and when
next his it
cheques. in the
cheques
7,00,000and purchasederection. is @129%
week.
drawings, @20% value expected year
follows From it
61,000 15,00010,000 30,000 bought a
1,0005,000 in of ended and
only the p.a. the The
the the the on
to on
5
 [2x15=30j
[6+6+3=15]
55,500
25,50015,000
12,000 2,250
12,00010,350
22,500 7.500 1,65,600
3,000
40,000 49,000
5,400
6003,000
They
Ajoy Debtorssettlement)
in as
appears
paid
expenses)

deposited
respectively.
sheet

Mr.
by
taken
and
1,800 final
23245o
be Account.
to balance investment (in books.
was 3:2:1 Stock R30,750
sundry Assets
it of their policy drawings
22,500
Bijoy's 7,500; the Capital
when ratio
than Machinery
Investment
1,500
Loss the paidin
unrecorded
Partners'
Balance
on
April.1 missing when Building15,000
Furniture Life
Debtors
30,000 Furniture
file. the & and are
Expenses(Other ;
diary Stock
15,000|Joint
BankProfit
4.500
5,000
Creditors
paid
weeks: ascertained: in 2022 R20,250
bills
business
creditors
2,000
Rent
paid and
7,200.
was per unpaid C GROUP December, 30,000 15,00031,500 6001,65,600 loan. T10,500; t6,750
13 cash 74,000; as Account
for for
wife's butworth
are $20,000 per a surrendered to
transactions42,00049,000
entire of Machinery
realized full amount
Bank
facts as missing. profits his
31st
at
to 78,000
valued pay in investment
thefurther
amounted on Account,
met expenses
April share to assets
bank werecash
firm Information:
Additional
is 790,000;
was questions. agrees
policy followingare
following Bijoy
his
1st
day Creditors
of
amount
the
debt Realization
Acceptances
an Realization
on Debtors dissolveLiabilities fund Sujoy 9,000.
for including
are Cheque
Deposited that and Loan
Sujoy's
Mrs. bad life Building
Jan.t
on
Balance weeks TWO
following Cash
Deposited The
Stock
(a)
on Sundry the Ajoy account
Capital Policy
Fund
Reserve for Mr. Joint The 80%.
Sundry Loan
Bijoy's Acceptances Prepare
ANY to Provision
13 bank. out decide
Sujoy, below: life Creditors
(iif) (iv) (v)
The After
the (b) (c)
Find Answer Joint ) (1)
2023
13.
 14.The
2023
Sheet
Trading
Prepareand (gBad
(h) debt () (Billsinformation: Additional
(a)Stock
Sales(b)
investment.
ej following
calculated The includes Interest
Depreciate
R600 Wages
as
on manager receivable Purchases
Salaries
SalesT & 12% Stock Plant Land
includes on Provision
Farniture
Advertisement
rawingsCapital Çustomn
Jnterests Bad Rates
Carriage debts Rent & BiBls Debtors & Cash
that includes Fire
Customs Wages-T
recovered 31st is
after Machinery insurance Receivable
Investment(April & in the
date. March Building
Machinery
duty
outward &-B hnd trial
charging of includes sale
R18,000 for duty Creditors
Profit Mr. ofwas 1,
R1,500 a badpremiumpayable on 2021) Particulars
balance
Gopal byfurniture purchase- &
(April -B B
&
such received 15%, spent bill avalued debt-P - Bills
Loss was P - -B of
commission. is Furniture on of -J Payable 1, T
Mr.
Account entitledtaken R12,000 on at -P 2021)
from erection t1,80,000. T
Gopal
as
April 1,
-
for receipts to a bywhich B B as
debtor of 2021
on
the a 20%
machine
commission has 31st
year from & for
for
Building become March
on30,000 10,80,000 75,000 DX
ended debtors. late 2,85,000 1,20,000
Dr . )
April 15,000 60,000 60,000 45,000 48,000 45,000
18,000 18,000 48,00024,000 45,00060,00030,000 60,000 24,000 2022:
of payment by bad.
31.3.2022 (Book
10% 10%.2021. 1,
of value
and 10,80,000 1,80,000 .
and the 1,80,000 5,70,000 Cr().
balance R36,000). 75,000 63,000
6,000 6,000
a net
Balance
[4+6+5=15] profit
for
15.Mr. Iyer carries on business as a retail merchant. He does not maintain regular books.
From cash sales effected by him he effects business and other payments, always retains
cash of RS00 in hand and deposits the balance in the Bank Account. The sto ck inventories
for the year ended Dec 31, 2021 are lost. However, he informs you that he has sold goods
invariably at a price which yields him aprofit of 33 1/3% on cost. From the following
additional information supplied to you, prepare necessary final accounts for the year
ended Dec 31, 2021.
Jan 1, 2021 Dec 31, 2021
Assets and Liabilities

Cash in Hand 500 500

Sundry Creditors 2,000 4,500

Cash at Bank Not available 4,000
Sundry Debtors 5,000 17,500
Stock of Goods 14,000 Not available

Analysis of the bank pass book reveals the following information:

Payment of Creditors 35,000

Pavment for business expenses 6,000
Receipt from Debtors 37,000
Loan from Gopi taken on Jan 1, 2021 @ 10% 5,000
Cash Deposited in the bank 5,000
in cash.
In addition, he paid to the creditors for goods 1,000 in cash and salaries T2,000
He also withdrew 4,000 cash for his personal expenses.
k*****************k****k**********

8
2023