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