
	Trending ▼ ICSE CBSE 10th ISC CBSE 12th CTET GATE UGC NET Vestibulares ResFinder

CA IPCC : Sample / Mock Test Paper (with Model Answers) - ACCOUNTING Oct 2014

22 pages, 21 questions, 0 questions with responses, 0 total responses,

CA IPCC
Tilak Vidyalaya Higher Secondary School (TVHSS), Kallidaikurichi

+Fave Message

Profile Timeline Uploads Q & A

Home > ca_ipcc >

Formatting page ...

Test Series: October, 2014 MOCK TEST PAPER 2 INTERMEDIATE (IPC) : GROUP I PAPER 1: ACCOUNTING Question No. 1 is compulsory. Answer any five questions from the remaining six questions. Wherever necessary suitable assumptions may be made and disclosed by way of a note. Working Notes should form part of the answer. (Time allowed: Three hours) 1. (Maximum marks: 100) (a) X,Y and Z are partners sharing profits an losses in the ratio of 4:3:2 respectively. On 31st March, 2014, Y retires and X and Z decide to share profits and losses in the ratio of 5:3. Then immediately, W is admitted for 3/10th shares in profits, 2/3rd of which was given by X and rest was taken by W from Z. Goodwill of the firm is valued at Rs. 2,16,000. W brings required amount of goodwill. Give necessary Journal Entries to adjust goodwill on retirement of Y and admission of W when they do not want to raise goodwill in the books of accounts. (b) HP is a leading distributor of petrol. A detail inventory of petrol in hand is taken when the books are closed at the end of each month. At the end of month, following information is available: Sales General overheads Inventory at beginning Rs. 47,25,000 Rs. 1,25,000 1,00,000 litres @ 15 per litre Purchases June 1 - two lakh litres @ Rs. 14.25 June 30 - one lakh litres @ Rs. 15.15 Closing inventory - 1.30 lakh litres Compute the following by the FIFO method as per AS 2: (i) Value of Inventory on June, 30. (ii) Amount of cost of goods sold for June. (iii) Profit/Loss for the month of June. (c) Ujju Enterprise furnishes you the following information for the period October to December, 2013. You are requested to draw up Debtors Ledger Adjustment account in the General Ledger: The Institute of Chartered Accountants of India

Formatting page ...

Tags : CA IPCC, sample / model / mock / past / previous / old / online test papers, Group I, Group II, accounting technician course, atc, accounts, accounting, business laws, ethics, communiation, cost accounts, cost accounting, financial management, fm, tax, taxation, advanced accounting, audit, auditing, assurance, itsm, it & sm, information technology, strategic management, Integrated Professional Competence Course, may, november, 2015, 2014, 2013, 2012, 2011, 2010, 2009.

ca_ipcc chat

Horizontal lines at:
Guest Horizontal lines at:
AutoRM Data:
Box geometries: