01 B.
COM SEM
her following
ADVANCED FINANC
information prepare the
From the
02(Exam). trading and profit and loss acCount for the year
decartmental
ending31-12-2021:
Dept X 25,000
OpeningStock 40,000
Opening Stock Dept Y
Dept X 1,00,000
Purchases 80,000
Dept Y
Purchases
Dept X
2,25,000|
Sales 1,50,000
Dept Y
Sales 15,000
Wages
Dept X 10,000
Dept Y
Wages 1,20,000
Office salaries 1,50,000
Office rent 7,200
Discount allowed 7,200|
|Discount earned X Rs.85,000 and
31-12-2021: Dept.
(a) Stock of goods on
Dept. YRs.70,000. and Dept. Y
appointed: Dept. X 10 persons
(b) Office staff
5 persons.
100 sq ft. and Dept Y 60 sq. t.
X
(c) Area 0ccupied: Dept.
Machinery worth Rs.30,000 at 10% and
(d) Depreciation on 5% to be distributed
Rs.2,00,000 at
Furniture worth equally.
between the departments
transfers: Dept. X to Dept. Y
Inter-departmental the information.
(e) is not included in
Rs 40,000, which
jnter-departmental transfers for calculation
() Exclude the
of ratios.
08. From the following particulars prepare the accounts
disclose the total and individual profits of the two
departments Aand Bof Bangalore:
Debit balances Rs. Credit balances Rs.
|Opening Stock: Sales:
A 1,52,000 A 10,00,000
B 1,08,000 B 8,00,000
Purchases: |Discount earned 14,300
A 7.51,000
B 6,98,000
|Carriage inwards 28,600
Salaries:
A 90,000
B 85,000
General salaries 1,16,000
Rent and rates 60,000
Advertising 81,000
General expenses 54,000
Discount allowed 18,000
Accountancy
charges 5,000
The following additional information is available:
(a) Goods transferred from department Ato B Rs.50,000.
This has not been recorded.
(b) General salaries are to be allocated equally.
(c) The departments A and Bhave occupied the space in
the ratioof 3: 2.
(d) Closing stock was: Department A Rs.1,78.000 and
Department B Rs.1,50,000.
11. Sinidhi departmental stores has three departments X,Y
&Z. Total salaries of the three departments is Rs1,92,000.
Allocate the salaries among three departments from the
following information:
(a) Dept. Xand Yare working in First Floor and Dept. Zis
working in Ground Floor.
(b) Salaries comprise as under: Ground Floor 3/4 and First
Floor 1/4.
(c) Number of employees working in Dept Xand Dept Yare
12 and 6 respectively.
ISEM -II
05
CIAL CCOUNTING SHREE'S B,COM. COLEGE
10(Exam). Sahyadi Traders has a branch at Gulbarga on
01.01.2021. Goods are invoiced to the branch at cost plus
25% Allcash received at the branch was banked daily.
From the following particulars prepare branch account in
the head office books.
Stock on 1-1-2021 20,000
Branch Debtors on 1-1-2021 24,000
Branch Petty cash on 1-1-2021 400
Petty cash expenses 500
Total sales 70,000
Stock on 31-12-2021 38,000
Debtors on 31-12-2021 40,000
Bad debts 800
Goods sernt to Branch (Invoice price) 60,000
Goods returned from branch (Invoice price) 4,000
Branch expenses paid by the Head office:
Rent 3,000
Salaries 3,200
Sundry expenses 1,200
Petty cash 600
12(Exam).
All
Yajaman and Brothers has branch at
Mysore.
the goods for sale branch are
Cost plus 25% and all cash suppliedat from Madras
received the branch is
banked daily in HO Account opened in a in Calcutta:
the followingparticulars prepare the Branch From
Stock on 1.1.2022 Account:
7,900
Debtors on1.1.2022 11,300
Petty Cash on 1.1.2022 90
Goods invoiced to branch 25,000
Returned goods to HO 1,000
Bad debts 100
Cash sales 1,400
Provision for doubtful debts 1,500
Sales returns 400
Branch
Rent expenses paid by HO:
B.COr
Salary
ADVANCED FINAN
Sundries 1,400
1,500
Allowances given
Petty cash expenses 700
Total sales 450
240
Remittance to branch for
Stock on 31.12.2022 Petty Cash 34,900
280
Debtors on 31.12.2022 8,400
19,500
13(Exam). Trupti Sales Ltd., Bangalore has a
Dharwad, the branch at
goods are invoiced to the
profit on sales. The branch has branch at 20%
cash received to the HO daily been instructed to send al
and the HO pays all its
expenses: The following is the summary of transactions at
the above branch for the year 2022:
Branch stock on 1.1.2022 (at IP)
Branch debtors on 1.1.2022 10,000
Branch petty cash on 1.1.2022 4,000
Goods sent to branch (at IP) 100
Expenses paid by HOfor: 50,000
Salaies
Rent 12,000
3,000
Stationay
Petty cash 1,500
Goodsreturned by branch at IP) 700
Cash säles 000
Credit sales 29,300
Cashreceived fron customers 35,000
Goods returned by Customers 30,000
Discount allowed to Customers m2,500
Branch stock on 31.12,2022 (at IP) 1,500
Branch petty cash on 31.12.2022 12,500
From the above infomation prepare the 200
branch account
and branch debtors account in the books of Ho
16 /Exam) A trader a Gulbaga has a branch at Bdarto
which goods are charged out at cost plus 33,33/ The
branch keeps its own sales ledger renits all casheeved
by it dalysentto thehead office, All the expenises of the
branch are paid by the head office
The transactions of the branch vwere as under:
Branch stock at( L.P) on 112021 30,000
Branch Petty cash on 112021 1,000
Branch Debtors on 1,1.2021 40,000
Branch Furniture on11.2021 50,000
Prepaid Insurance on 112024 400
Outstanding salary on 1.1.2021 1,600
Goods sent to branch during the year (1.P.) 2,00,000
Cash remitted by H.O. to branch for expenses:
Salary 20,000
Rent 6,000
Insurance 2,000
Petty cash 4,600
Goods returned by branch during the year (1.P.) 16,000
Cash sales 1,19,600
Cash received from debtors 1,00,000
Credit sales 1,04,000
Balances on 31.12.2021:
Branch stock at(|1.P.) 32,000
Branch Petty cash 1,000
Prepaid Insurance 1,300
Outstanding salary 2.000
Depreciate Furniture at 10% per annum. Prepare Bidar
Branch AccOunt.
B.COM
17 ADVANCED FINAN
Vijayalakshmi Mills Ltd., has a branch at Gulbarga.
Coods are sent to branch at selling price being
25%. All cash received is deposited daily to cost plus
HOAccount. Allexpenses at branch are paid the credit of
Stock on 1.4.2021 by HO:
12,100
Debtors on 1.4.2021
Goods sent to branch 3,000
66,000
Goods returned by branch 6,000
Cash sales 60,000
Credit sales
Cash collected from debtors
10,000
9,500
Discount allowed to customers 200
Returns by customers 300
Bad debts 50
Furniture purchased by branch manager
On 1.10.2021 5,000
Stock on 31.3.2022 9,000
Expenses at the branch:
Rent 3,600
Rates and taxes 2,000
Other expenses 1,300
Salaies 3,200
20, B.K. Ltd. Hubli has a branch at Belgaum. Goods are
invoiced to the branch at 20% on sales. The branch has
been instructed to send allcash the HO daily and all its
expense are paid by the HO.
From the following details relating the branch show the
Branch Traing &Profit Loss Alc in the books of the HO:
Debtors on 1.1.2022 30,000
Stock on 1.1.2022 18,000
Petty cash on 1.1.2022 800
Goods sent to branch at Cost 1,28,000
Goods returned by customers 480
Goods returned by Branch 2,000
Cash received from customers 60,000
Cash sales 1,00,000
Credit sales 60,000
Discount allowed to customers 60
08
CIAL ACCOUNTING SHREE'S B.COM. COLEGE
03 (Exam). On 1.1.2016 X Ltd., acquired an asset of cash
price of Rs.37,240 on hire purchase system, payable
Rs.10,000 on signing of the contract and balance in three
equal installments of Rs.10,000 each at the end of each
year. Interest charged is 5% p.a. X Ltd., provides.
depreciation onreducing balance method at 10%.
Show the Ledger Accounts in the books of both the parties.
07, M Rajashekar bought avehicle on hire ourchase
systemfrom X Co. Ltd On 01.01,2015 paying Rs.30,000
as advance. lt wasdecided to pay the balance armount at
10% interest per annum as under.
34.03.2015 RS42,000
31.03.2016 Rs.39,000
31.03.2017 Rs.36,000
31.03.2018 Rs.33,000
He charges depreciation at 20% p.a. on diminishing
balance method. Calculate the cash price and prepare the
necessary ledger accounts in the books of Rajashekaran.
04 (Exam). Afire oCCurred on 30,4.2021 in the premises of
a company and stock in trade was destroyed. The followina
information is however available:
Opening stock on 1.1.2021
Purchases upto 30.4.2021 11,000
Sales upto 30.4.2021 45,000
60,000
The closing stock on 31.12.2020 was valued at market price
which is 10% above cost.
The usual percentage of gross profit on the business was
15% of sales. Salvaged stock was valued at Rs.400.
Compute the fire claim.
07 Exam), Afire broke out in the premises of Bangalore
stores on 20.05.2021. The following figures were available
from the records of the stores:
Stock on 1.1.2020 50,000
Stock on 31.12.2020 1,16,000
Sales during 2020 4,50,000
Sales retums during 2020 30,000
Purchases during 2020 3,70,000
Purchases returns during 2020 10,000
Sales (1.1.2021to 20.05.2021) 2,40,000
Sales returns (1.1.2021 to 20.05.2021) 20,000
Goods drawn for personal use 5,000
Value of salvaged stock 45,000
Stores has taken fire policy 81,000
Purchases (1.1.2021 to 20.05.2021) 1,78,000
Ascertain the stock destroyed by fire and prepare a
statement of fireclaim under average clause.
B.COM
08 (Exam). Fire ocCurred in the ADVANCED FINANC
premises of Mr. Rajendra on
30-3-2020. The followingfigures were ascertained from his
books:
Stock on1.1.2019
Stock on 31.12.2019 80,000
Sales for the year 2019 1,60,000
20,40,000
Purchases for the year 2019 12,00,000
Wages for the year 2019 2,40,000
Sales returns for the year 2019 40,000
Purchases from 1-1-2020 to 30-3-2020 7,60,000
Sales from 1-1-2020 to 30-3-2020 8,00,000
Goods used for personal purpOse from
1-4-2020 to 30-3-2020 40,000
Wages from 1-4-2020 to30-3-2020 40,000
Value of salvaged stock 40,000
The closingstock of 2021 is ovevalued byRs.40,000. He
has taken fire insurance policy for Rs.1,80,000.
Ascertain the value of stock lost by fire and prepare the
statement of claim under average clause.
10Exam). Afire broke out in the premises of a trader on
3017.2020:! To cdaim fire insurance, he gives you the
following information to prepare a statementshowing the
amountto be claimed
The last accounts of company were prepared on
31.12.2019.
Sundry debtors on 31.12.2019 1,20,000
Sundry debtors on 30.7.2020 90,000
Stock on 31.12.2019 45,000
Cash received from debtors 4,32,000
Purchases from 1.1.2020 to 30.7.2020 3,75,000
Rate of gross profit to cost of sales at 25%.
11. A fire broke out in the warehouse of Navin traders Ltd.
on 30.9.2020. The Company desires to file a claim with the
insurance company for loss and give you the following
information to prepare a statement showing the amount to
be claimed:
on
The last accounts of company were prepared
31.12.2019.
80,000
Sundry debtors on 31.12.2019
60,000
Sundry debtors on 30.9.2020 2,88,000
Cash received from debtors 30,000
Stock on 31.12.2019
30.9.2020 2,50,000
Purchases from 1.1.2020 to
profit to cost of sales at 25%.
Rate of gross
