Case Study Of BCM 502 International Accounting

BIRLA INSTITUTE OF TECHNOLOGY, MESRA, RANCHI

(END SEMESTER EXAMINATION)

CLASS : B.COM SEMESTER : V

BRANCH : B. Com. SESSION : ______ SUBJECT: BCM 502 International Accounting

TIME : 3 HOURS FULL MARKS: 50

INSTRUCTIONS:

1. The question paper contains 7 questions each of 10 marks and total 70 marks.

2. Candidates may attempt any 5 questions maximum of 50 marks.

3. The missing data, if any may be assumed suitably.

4. Before attempting the question paper, be sure that you got a correct question paper.

Q1. The following is the trial balance as at 31 December 2013 of Hari Limited (HL), a company listed at the Delhi Stock Exchange. Debit Credit -------Rs. in million------- Sales revenue 21,100

Cost of sales 15,000

Operating expenses 4,000

Financial charges 45

Taxation charge 620

Property, plant and equipment (ii) 5,100

Accumulated depreciation 1,745

Closing inventory 1,250

Goods under sale or return (at cost) (i) 65

Cash and bank balances 13

Trade receivables 1,490

Provision for bad debts 85

Prepayments and other receivables 12

12% Long term loan payable (iii) 500

Trade payables 1,782

Accruals and provisions 395

Deferred taxation (asset) 30

Issued, subscribed and paid-up capital 1,200

Surplus on revaluation 150

Retained earnings 1 January 2013

-------- 668

--------

27,625

------- 27,625

--------

Additional information:

i. Goods under sale or return include goods costing Rs. 26 million sent to a customer under sale or return