advance accounting questions

8/19/2019 Advance Accounting Questions

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First Edition : May 2011

Published :

Directorate of Studies

The Institute of Cost and Works Accountants of India

12, Sudder Street, Kolkata-700 016

Works Accountants of India and prior permission from the Institute isnecessary for reproduction of the whole or any part thereof.

Printed at :

Repro India Limited

50/2 T.T.C. MIDC Industrial Area, Mahape, Navi Mumbai - 400710.

Copyright of this Compendium is reserved by the Institute of Cost and


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54.00 700

600 00.63** =×

6.30 700

70 00.63** =×

2.70 700

30 00.63 =×

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DollarsUSlakhs12042.50

lakhs5,100 loancurrencyForeign ==

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year theduringgoutstandinsharesequityof number averageWeighted

rsshareholdeequitytoleattributabyear theof profitNet

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9/12)shares(12,50,0003/12)1.04shares(10,00,000

30,00,000

×+××

shares11,97,500

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exercisetheinissuedsharesof Number exercisetoprior goutstandinsharesof Number

exercisefromreceivedamountTotalrightsof exercisetoprior yimmediatelsharesgoutstandinallof valueFair

+

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shareper valuerights-exheoreticalT

rightsof exercisetoprior shareper valueFair =

(approx.)1.041)NoteWorking(Refer 24

25==

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` 2,400

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(Being allotment by Moon Ltd. of 60 crore equity shares of ` 10 each to the members of the

company in the ratio of 4 equity shares of Moon Ltd. for every 5 equity shares held in the company.


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×5,55,000

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10,000 Shares of M Ltd.


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1,20,000

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∗

The dividend on 7,000 shares only (acquired on 1.4.2010) is a pre-acquisition dividend.


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13,50,000 – (1,20,000 shares x 11) ` `


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∗

××

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× 70

100

×2

1

100

10×

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5

1

∗

It has been assumed that Profit of 2,02,500 after payment of dividend for the year 2009-2010, has

been earned evenly in 3 years, (year 2008-09, 2009-10 and 2010-11) hence profit per year would be

= . Half of the profit of 67,500 for the year 2008-09 would be pre-acquisition

(Capital Profit) and Remaining half i.e. 33,750 would be post-acquisition profit (Revenue profit).

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3,154.62,840.0

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4

lakhs46,160

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10

02,60,49,60 =

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×

60

100 6,04,9602

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+++

4

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× 100

120

× 100

120

2

31.3.2011onasCE31.3.2010onasCE +

70.703,4

2

40.904,4503,4=

+

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× × 100

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96.756 x

=×10012

51.801

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