Ipcc
.
7
-"I
>
NOV 2010
Roll No. ............................
Total No. of Questions - 7
IPee
GROUp.I PAPER.!
A€COUNTINQ
TotalNo. of PrintedPages - 16
Time Allowed: 3 Hours
Maximum Marks: 100
.
AKG.
Answers to questions are to be given only in English except in the case of candidates who have opted for Hindi Medium. If a candidate has not opted for Hindi medium, his answers in Hindi will not be valued.
Q. No.1 is compulsory.
Attempt any five questions from the remaining six questions.
Wherever necessary suitable assumption may be made by the candidates.
Working notes should form part of the answer.
Marks
/
~
1.
(a)
Following two problems are regarding issues in Partnership Accounts, kindly solve both:
(i)
4x5
=20
Anil and Mukesh are partners sharing profit and losses in the ratio of 3 : 2.
Govind is admitted for Wh share of firm. Thereafter Madan enters for
20 paisa in a rupee. Compute new profit sharing ratios under both the admission of partners.
(ii)
The following Goodwill Aycount was opened by the partners of Rand S, on the admission of H as a new partner into firm Om and Sons. Calculate the share of profit agreed to be given t? "H".
AKG
P.T.O.
(2)
AKG
Marks
Goodwill Ale.
Dr.
Cr. f f
..
1-4-2010 To R's CapitalNc
24,800
1-4-2010 By R's CapitalNc
12,400
1-4-2010 To S's CapitalNc
18,600
1-4-2010 By S's CapitalNc
12,400
1-4-2010 By H's CapitalNc
18,600
.
43,400
(b)
43,400
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
f
47,25,000
General overheads cost
f
1,25,000
Inventory at begInning
1,00,000 litres @ 15/- per litre
Purchases
June 1 two lakh litres @ 14.25
June 30 one lakh litres @ 15.15
Closing inventory 1.30 lakh litres
Compute the following by
7
-"I
>
NOV 2010
Roll No. ............................
Total No. of Questions - 7
IPee
GROUp.I PAPER.!
A€COUNTINQ
TotalNo. of PrintedPages - 16
Time Allowed: 3 Hours
Maximum Marks: 100
.
AKG.
Answers to questions are to be given only in English except in the case of candidates who have opted for Hindi Medium. If a candidate has not opted for Hindi medium, his answers in Hindi will not be valued.
Q. No.1 is compulsory.
Attempt any five questions from the remaining six questions.
Wherever necessary suitable assumption may be made by the candidates.
Working notes should form part of the answer.
Marks
/
~
1.
(a)
Following two problems are regarding issues in Partnership Accounts, kindly solve both:
(i)
4x5
=20
Anil and Mukesh are partners sharing profit and losses in the ratio of 3 : 2.
Govind is admitted for Wh share of firm. Thereafter Madan enters for
20 paisa in a rupee. Compute new profit sharing ratios under both the admission of partners.
(ii)
The following Goodwill Aycount was opened by the partners of Rand S, on the admission of H as a new partner into firm Om and Sons. Calculate the share of profit agreed to be given t? "H".
AKG
P.T.O.
(2)
AKG
Marks
Goodwill Ale.
Dr.
Cr. f f
..
1-4-2010 To R's CapitalNc
24,800
1-4-2010 By R's CapitalNc
12,400
1-4-2010 To S's CapitalNc
18,600
1-4-2010 By S's CapitalNc
12,400
1-4-2010 By H's CapitalNc
18,600
.
43,400
(b)
43,400
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
f
47,25,000
General overheads cost
f
1,25,000
Inventory at begInning
1,00,000 litres @ 15/- per litre
Purchases
June 1 two lakh litres @ 14.25
June 30 one lakh litres @ 15.15
Closing inventory 1.30 lakh litres
Compute the following by