Nalanda Open University 2009 B.Com Final , Bachelor of Commerce, Part-II -Ill (Advanced Accounts) 2nd Part - Question Paper

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s (a) Outstanding Rent Rs. 1000

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sh'Sia The Original Cost of installation of mains was Rs. 8,00, 000. The ratio of materials, labour and

overheads may be taken as 6:3:1. It is estimated that price of materials has gone up by 20% and wages by 30%. The overheads are estimated to maintain same ratio with wages as before. The mains are replaced with Rs. 12, 00,000.

Calculate the revenue and capital Expenditure and give necessary Journal entries.

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(a)    Closing Stock Rs. 30,000

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(b)    Charge 10% depreciator on Fixed Assets.

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The revenue Account of a Life Insurence business shows the funds at the end of the year ending on 31st

march, 1999 at Rs. 48, 78, 000 before taking into account follwing items:

(a) Claims intimated but not admitted Rs. 65,500.

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