Case Study Of BCM 502 International Accounting

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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

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