- Downloaded from http://www.CAcracker.com, the document provides information on various accounting transactions and financial statements. - It includes questions related to purchase of machinery, depreciation calculation, revenue recognition, preparation of receipts and payments account. - The document seeks preparation of journal entries, capital accounts, cash flow statement, balance sheet and answers to other accounting problems.

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2. t2)
YGK
ThcmachinewaspnrchasedarI 52,?8,000.Sal* Td wascndgedar4%on
dE iovoice. a 18,590tnnsponadonchdgs werc incused to bnng de
nacninero rbefactory.An Anhitect wrs ensasedara ft€ oI I tO,O0r)lo
supe.vism{hi.ery iosrallationarthcfa oryp!€nises.Atso,payn€nrunder
theinloice wasdu€in 3 nontbs,Howevcr,tn€Compey @de rhepaymenr
in 2"dmontLTIE companyolelarcso, BankOverdrai@I I%,
Ascui.in rheamountarwlicn theasselshouldbecapitlliredu.rlerAs I0.
(b) NamadaLld. purchasedanexistingbortlinsunit fro'n KaveriLrd. Krv(i s
Ltd. followenstr.ight linenethodof chtrgirg deprciarionon machiDeryof
thesoldloilwh€!€as Nmada Ltd. folo*ed wrntendowhvatuenerhodin
ns otherunns.The di@los of Nmada Ltd. wanl lo continueb chsse
dcpreciationfrr rhe acqoir€dDnirin StraisntLinc Methodwhich n nor
-isEnr wlm rhe wDv n€thod lolloved in other units. DGctrs $e
co emionof rhedir€ctonwiln rerercncetorheAccountingSland&d6.
Fu$e( duing rhey€a. Ndnada Ld. sr npa mw ptet oncoasralland.In
v'e* or thc @rosile clinate, the Companyfelt rhal its macbinelife is
reducingfaster.C;r theCospantch&geahigls r{e of deprcciadon?
(c) A Lld. dtered into a &.tracr wi$ B Lld. io despaichsoodsvaluing
i 25.000sverymonthfor 4 nonthsupoorcceiprof entie paymenl.B Lld.
accordinelymadethepaynentof I 100,000&d A Lid. sldled despatchins
rhegoods.In lhid nonlh, dueto a naruratcalamiry,B Ltd.rcqn.st d A Lrd.
nol to desparchgoodsuntil turrhd noticethoughA Ld. is noldingthe
rcnaining eoodsworth i 50100 rady for despatch.A Ltd. accounted
t 50,000assd6 andtmsf€!@dh€ baldce to Adtu* R€ceivedagaiffr
Sal€s.Coment uponther.eatnentof baldce amountwirhrefe€nc€to rhe
prornionsof AccounringShnddrdo.
(d) A Ltd, is dalgan.tjry with B Lld. Iey re mdecidedon thenerhodoi
a@olning to be fouowed.You e requn€dio advi@rhendagedent of
B Ltd,onth€nettod of accowting$at cm h€adoptedudd AS 14.
i
YGK

3. (3)
YGK
Ranjeelwee patuersshtring
March.2013QueresbiErnld
,.n
3t-
Furnituic,F luLe& f irririEs
2,!0,00
8.50.000
6,20,000
3J0,000
2.25,000
1,13,000
10,00,000
4,6s,000
2,30,100
1,32.200
r,06,700
nd& Buil,linEbeappr(iJEdby 20"1.
Pltur& Ma.hin€rybedepreciaredby l0%.
Provnionfor BadDebtsbemadeequalto 4% of TradeDebt's.
u]1'lo*stana;c
-r"s till dnountingto { l5ooberecordedin thebooksor
f Co.dwill of $e nd bev4luedar{ :].0O,OOOandQuercshis capitataccount
7,be
dednedwilhhh shm olgoodwitlsithourraisirysoodwillaccount.
g,f nnu oru. *ount au"toQuercshibeimnediarelypaiAb himbyseansoi a
chcque dd the bald@ be treatd as a loa. bearins int€rcst @ l2% Fer
21,78,00021,78,000
YGK P,l.o,
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4. (4)
YGK
Alier Quqeshi's rcrirenenr,pathal dd Rdjeet adnit€d Swany asr .ew pdljer
eith eff€ctfton t,'Airit, 2013.partai, Ra.j€erbd Ssey asrceoro shde prcfts
r tnerato of 2 : 1 : I resFedively.Swdy broughtpatenrsvaruedar. 20,000and
{ 3,80,000io cashinctudingpaynentfor hh sbaeolgoodsill asvaluedbyrheold
ft'n. The enrireanount ol I 4,oO,O0Owascrcditedio SwMy,s capjtal Account,
Adjusl'rent wercftade tu theapilal acounr for Swdny,s shm of g@dwil.
(r) Pas joumal entdesfor aI rheabovertusactions wi&our ey nffiation, and
(b) Prepe€rhecapitataccountof at fie parllq.
L Assrs a.d Liabitili€sof Mr.
31-3-2012
?
31.3.2013
I
2,50000
1,10,000
13,200
?5,000
?0,000
80.000
50,000
1,00,000
r,00,000
60,000
11,200
60,000
90,000
50,000
Mr. A' decidedtoprovidedepreciationonbuitdinsby 2.5%od tueitue by
l0S lor Lheosiodcndedon Jt l-,:0tr. d. .A.. phh4ed e_erteryior
124,000for hisdaughterin Deenber 2012_He soldhis cd on Jir,3_2013
4r:t. in,rnr ot{40n00.iEhned.nlnebuines.
YCK
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5. {""
(5)
a. YCK M'rks
(i) PEpdestaterentof affaisason3l-3-2012& 31'32013.
(ii) Calcnlaretheprcfitreeilcdby'A' duringtheyedendedll 3-2013.
Sury! Iid has prcvided yon the lo owing pdiculds. Prepre CashFloN
fron Op.rati.g Aclivities by IndireclMerhodin accordancevilh AS 3 :
Profit & LossAccout of SnryaLtil.
for rh€yea.€od€il31"Nlarch,2013
I I
86,?00
35,000
1,25_000
72,000
87,000
8.08,900
11,01,600
10,000
3
1.00000
TOTAL 11,14,600 AOTAL 12,14,600
Additioral in&motion :
3r-3-,/ll2 l1-l-2011
1,20,000
7,500
23,735
1,18,r75
15,325
tl,715
1,60,000
75.000
8?,525
1,25,000
t2.415
29,325
35,340
YGK P.T.O.

6. (ol
YGI(
HighendChb appointeda newa.colntantfor matnhinnrgb@ksof
prepr€drollowingReceiprsandpayoenr A./cfor theyer endedason
2013.
21,000
45,000
t.26,000
ss,000
36,000
9,18,000
16,000
9,000
r6,000
onSt-032012
9,36,000
16,000
27,400
68,000
18,00.000 t5,5?,000
R{eipti atrdPoynenrsAccount
9,54,000
18,000
28J6,000 2E,76,000
YC(

7. (:1)
YGK
Additi0nll infomalion :
Hish€DdClubhadbalmces
sto.kofStoilsnarcrial
Subsdifltundeiv€din dva.ce
ousrmdnE Prinring& SladoneryExp.
Otrl*xn{hrsElecbicuCh{ses
50l?Enlranc€Feesis tob€captalized.
01"04m12
I
3,60.000
t,3l.2Ll
1,500
0t-04-2013
t
36.000
{54.ooo
l18.ooo
2.500
3,200
Do yourgreewidl aboveReceipKandlayne sAccou ?lf not.pepde conecr
ReceiplsandPaymc.lsAccoontdd Inconemd ExpendiiuEAccountfor theyetr
enllc{lll Mrch.20l3usdB.larceSheelasonthardde.
On 3t"' Marcfi,2013BoseandSenLld. pmlidesto
balarcesafif prepri.g ns ProfirdndLots Ac.olm lor
2011:
. C.edit Balaftrs :
Eqtrnysharescapnalfully pdd shGs oi a 10each
lnr liom Silte FindnceCorporation
SecuEdbyhypo$aaliotrof Pla & Machinery
lRepayablewitbiooneyer I 2.00,000)
L.ais i Unsecured(Longlem)
Sund.yCEditos for goods& expenses
(Payablewnhin6 no hs)
P.ovisionfor DividendDisribulionTax
you the iolloPins ledser
theyer endedIl Mdch,
70.00.000
t5..19.100
t0.50,000
8,47,000
1'1,00,000
t.00,000
3.25,500
4,20.000
?1,400
l6
YGK
1t3,63,000
t.T.o.

8. (8)
YGK
pldr ad Ma.hinery
FuEir@ & Fnture
Siocks: Finishe<tgoods
RawMaterial3
Sund.yDebtos
adlanccs: shon lem
- c4lliajed-
Mr.ft!
I
7,000
r4,00,000
20,50,000
36,75,000
3,50.000
14,00,000
3,50,000
r400,000
2,98,900
2;t0.000
17.29,m0
93,100
4,00,000
l
rp.',63,o0o
Tb€foliowirg addirionalinfmatio, is atsoprcvjde{t:
(i) 4,m,000fuly paidequty shaE! seF allone.!sscoedration fo, t.nd &
12a,00,000
Costofpter & Mehindy t 49,00,000
cct of Fhite & Frn@. I 4.37,500
(in) SundryDebto6fd I 3,SO,0OO@ du. fd tuF the 6 nolos.
YG(
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9. (e)
YG( MArK
(lv) Theanou! oTBaloceswithBmk inctudesI I8,OOOwnh! bdk whichis
not a scbedul€dBankdd ihedcposnsof t 5la&hsm for a paiod of
(!) Unsauredlod inciudesI 2,00,000trcn aBdk m{j { 1,00,000fton relaled
You @ norrequftd lo giveprcviousyearfisures,you ee equu€dtopeprc IJE
BalanceSh€elof th€Conpmy d on 315'Mrch. 2013asrequnedunderRevned
ScheduleVI oltlE Conpa.iesAcr, 1956.
onalisa & Co. tus plasijc gmds shop.Folloping debils @ availobtefton ,6
qudeay salesllx retumfned.
2009
I
?010
t
20ll
I
nt2
(
Fron 1" Jeuary to 3t$ Mrch
Fron I" Aprit to 30uJuoe
Fron I" Jntylo 30dSeptember
Fron l" Ocroberto 31",Decembel
80,000
28,000
s3,000
59,000
70,000
36,000
r0,000
47,000
2
2,05,950
r,93,000
2,31,000
(,so,ooo
L,oz,ooo
21.000G
fi.rs,mo
1,48,000
6,20,0007,tJ,000 8J9Bs0
salesfiom16-09-201I to30-092Ot1
Salesfron 16-0920121030O9-20r2
Salesiron 16-1220ll lo31 12-201l
sars fron 16'12-2012b31-122012
14.000
Nil
do,ooo
20,000
YCK P.r.o.

10. (t0)
YCK
A lossof proiitpolicypastlkenfor a 1.00,000.FiE occDnedon l5ri septehber,
2012.I.dennity peri;; ed foL3 mo.rhs.NerPronisas { I.2O,I]OOandstanding
chdecs(allinsured)adounrcdro143,9901oryetrending2011.
Dclernine theInsudnceClaim?
?. A.sw€r ey four out of thefollowing: :1:
(a) O. 0l 052012.Mr. Mislra purchased300equir)'shaEsof i l0 eachin I
Fillco Ltd. @I 50eachhom abroko whochdged 5%.rle incuftd 20p.isa
p€r a 100$ costof shaEst.aNfcr stamps.On 31']02012, bonuswds
declarcdi. dre tio I :4. TheslrnreswereqnotcdatI 110anda 60perrhare
hetorcrDdalierlherecor.ldrleof bo0usshrrefespcctively.Otr30 L| 2012.
Mr. MntD soldlhe bonnsshdesto d bn,kerwho charsed5n. You are
'@urr.o o pmnrr Ineir rnr Aqour. .r .f. book.of 4r. v .hd ; 1p
yearendiq 3l. l2-2012andclosinevalueof Inreslnentshallbemadcatco$
or n&ket valuewhichcveris loler,
qI Pas_sjouhdenniesfor 'hefolloNing lrosacrions: I
"
f)
convdsnm ot 2 l.kn tully paidequity shdcsol t 10eachint. {.ck .f
{ I,00,000andbdancehas12%tullyconvenibleDebenrdre.
consolidationof 40lalb fullypaidequityshdesol { 2.50e&b inro10
lrrrhlullJ,pridequirJhdcnf 0each,
Subdivisionol l0 hkn fullyp.id ll% prefeenceshmsof I 50each
into50lakntully paidI I%preferenceshresol I l0 cactr.
Conversionof l2% prefeEnceshms of t 5,00.000nao I,1%tefeence
shdes { 3,00,000 dd Eoainjng balance as 12S, Non-cunuiative
YGK
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11. III)
tG(
R.sfirtrhrs I ctrne &counrqith pdhenhip fim. rLhnsdcbrtbdance
. ?r. xr'+ ,tr'nt u/ 20t2.Hehd,ti@er deposikd$e ro os,nsamounF
M
Hewitn&eq LhefoUoqogmou6:
a 01mt2
18-08,2012
29-O',1-2012
090t-20t2
1,38,000
22,4)0
97,000
11,000
ShowRoshms A/c in lhe ledgerof tnetum. tnteres!h
rogaulebil balee ard 8%ohcredirbaldce. yiu d€
cuEnt acmunts on30dseFenb€!,2012.
(d) Th€foUowingFes@rionslookptacebeN@nTtick sd Tbin.Theydesir€ro
settletheira@ounronav€ra8EdDedare.
(o
15trJuly,2013 18,000
16,500
orareAverageDe Daredd tiE murr tobepaidormived byThic!.
Erylainrher.asos dueto whichre neual accourrings;sM yasr€pled
bytheconpuledzedac@urri.gsysl€nin nodemriN.
Ptrrchs6 byThick frcn thitr
9lilulx 2013 1,240
12.ma
YGK
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