THE INSTITUTE OF COMPUTER ACCOUNTANTS
Unit-1401, Eco Centre, Sector V, Kolkata – 700091
Offline Question Paper | Advanced Accounts
Paper Code: 05042201
Full Marks: 100 Time: 75 Mins
1. Following is the salary details of Rocket Singh Corporation Ltd for the month of Aug’2022. Pass necessary
journal entries in the books of the company: [5 x 6 = 30]
Earnings Deductions
Employee Name Net Pay
Gross
Basic DA HRA P.F ESI P Tax TDS
Salary
1 Pran Sharma -
7,000 3,500 2,800 13,300 1,260 233 110 11,697
2 Anil Mahato -
8,000 4,000 3,200 15,200 1,440 266 110 13,384
3 Sushil Shaw -
9,000 4,500 3,600 17,100 1,620 299 110 15,071
4 S Kutty -
10,000 5,000 4,000 19,000 1,800 333 130 16,738
5 Sunil Mehra
11,000 5,500 4,400 20,900 1,980 366 130 171 18,253
6 Bimal Singh - -
12,000 6,000 4,800 22,800 130 366 22,304
57,000.00 28,500.00 22,800.00 108,300.00 8,100.00 1,496.00 720.00 537.00 97,447.00
The company has made the following payments:
Salary – 03/09/2022
PF - 04/09/2022
ESI - 05/09/2022
TDS - 07/09/2022
P Tax - 07/09/2022
THE INSTITUTE OF COMPUTER ACCOUNTANTS
Unit-1401, Eco Centre, Sector V, Kolkata – 700091
Offline Question Paper | Advanced Accounts
Paper Code: 05042201
Full Marks: 100 Time: 75 Mins
2. From the following Summary Cash Account of Prachi Ltd., prepare Cash Flow Statement for the year
ended 31st March, 2022 using the direct method. [35]
Summary Cash Account for the year ended 31/03/2022
Particulars Rs. (’000) Particulars Rs. (’000)
Balance on 1.4.2021 50 Payment to Suppliers 2 ,000
Issue of Equity Shares 300 Purchase of fixed assets 200
Receipts from Customers 2,800 Overhead expenses 200
Sale of fixed assets 100 Wages and Salaries 100
Payment of tax 250
Dividend paid 50
Repayment of Bank Loan 300
Balance on 31.3.2022
150
3,250 3 ,250
3. You are the accountant of M/s Ratnagiri Textiles Pvt Ltd. head office. At the beginning of every month,
you get statements from Nasik branch for the previous month.
From the following details, prepare the Branch Reconciliation Statement as on 31 st May, 2022. [35]
M/s Ratnagiri Textiles Ltd. – Head Office
98 , Strand Road, Kolkata - 700001
Nasik Branch Account
Dr. Cr.
Date Amount Amount
Particulars Date Particulars
(Rs.) ( Rs. )
01/05/2022 To, Balance b/d 50,000.00 28/05/2022 By, Bank A/c 3 ,60,000.00
05/05/2022 To, Goods sent to Branch 3,00,000.00 31/05/2022 By, Balance c/d 15 ,000.00
31/05/2022 To, Bank A/c 25,000.00
3,75,000.00 3,75,000.00
THE INSTITUTE OF COMPUTER ACCOUNTANTS
Unit-1401, Eco Centre, Sector V, Kolkata – 700091
Offline Question Paper | Advanced Accounts
Paper Code: 05042201
Full Marks: 100 Time: 75 Mins
M/s Ratnagiri Textiles Ltd. - Nasik Branch
9 , Shrira m Nagar, Dhule, Nasik - 424 002
Head Office Account
Dr. Cr.
Amount Amount
Date Particulars Date Particulars
(Rs.) ( Rs. )
28/05/2022 To, Bank A/c 3,60,000.00 01/05/2022 By, Balance b/d 50 ,000.00
By, Goods
To, Goods returned to
30/05/2022 30,000.00 10/05/2022 received from 3 ,00,000.00
HO
HO
To, Goods transferred
31/05/2022 10,000.00 31/05/2022 By, Balance c/d 50 ,000.00
to Mumbai Br.
4,00,000.00 4,00,000.00
