THE INSTITUTE OF COMPUTER ACCOUNTANTS
Unit-1401, Eco Centre, Sector V, Kolkata – 700091
Offline Question Paper | Advanced Accounts
Paper Code: 05062201
Full Marks: 100 Time: 75 Mins
1. Following are the salary details of Paramount Ltd., Kolkata for the month of June’22. Pass the
necessary journal entries in the books of the company: [25]
Employee name Earnings Deductions
Basic DA HRA Gross Salary P.F ESI P Tax TDS Net Salary
1 Akash Ganpat 5,000 2,000 1,500 8,500 840 149 - - 7,511
2 Anil Shah 6,000 2,400 1,800 10,200 1,008 179 110 - 8,903
3 Sunil Mukherjee 7,000 2,800 2,100 11,900 1,176 208 110 - 10,406
4 Bikash Bag 8,000 3,200 2,400 13,600 1,344 238 110 - 11,908
5 Amol Pandey 9,000 3,600 2,700 15,300 1,512 268 130 - 13,390
6 Deepak Singh 13,000 5,200 3,900 22,100 - - 130 69 21,901
48,000 19,200 14,400 81,600 5,880 1,042 590 69 74,019
Note: Salary becomes due on the last day of the month and is paid on the first day of the following
month.
The company has made statutory payments as follows:
TDS - 05/07/2022
Provident Fund - 10/07/2022
ESI - 10/07/2022
Professional Tax - 15/07/2022
2. You are the accountant of M G Electronics and the following transactions have been entered in
the books of accounts of the enterprise. [20]
1
THE INSTITUTE OF COMPUTER ACCOUNTANTS
Unit-1401, Eco Centre, Sector V, Kolkata – 700091
Offline Question Paper | Advanced Accounts
Paper Code: 05062201
The following confirmation of accounts for the year 2018-19 has been received from Dhunseri Petglobal
Limited –
Prepare Debtors Reconciliation Statement in the books of M G Electronics.
3. From the following Summary Cash Account of Adrija Ltd., Prepare Cash Flow Statement for the year ended
31st March, 2022. [30]
Summary Cash Account for the year ended 31.3.2022
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
Taxation 250
Dividend 50
Repayment of Bank Loan 300
Balance on 31.3.2022 150
3,250 3,250
2
THE INSTITUTE OF COMPUTER ACCOUNTANTS
Unit-1401, Eco Centre, Sector V, Kolkata – 700091
Offline Question Paper | Advanced Accounts
Paper Code: 05062201
4. Pass journal entries of the following as on 31st March, 2022 (wherever applicable): [5 x 5 = 25]
a) Salary Rs. 1,00,000 for Feb,22 not paid till 31st March’2022;
b) Rent Rs. 30,000 for April’22 was paid on 31st March’22;
c) Interest of Rs. 5,000 for Mar’22 not received till 31st March’2022;
d) Interest of Rs. 20,000 for the month of Apr’22 was received on 31st Mar’22;
e) Bad debt of Rs. 1,00,000 earlier written off as bad recovered on 30th Mar’22 in cheque of
Axis Bank and deposited in ICICI Bank.
