The Institute of Chartered Financial Analysts of India University 2011 C.A Chartered Accountant Chartered Accountancy -Pcc - Mock Test Series 1 - Question Paper

capitalized.
(j) If goods are transferred from department A to department B at a price so as
to include a profit of 50% on cost. calculate the amount of stock reserve on
closing stock of Rs. 9,000 in department B.
(k) Total capital employed in the firm Rs. 7,00,000
Reasonable rate of return 15%
Profit for the year Rs. 1,20,000.
compute the goodwill of the firm using capitalization method.
(l) Omega Ltd. issued 20,000, 8% debentures of Rs. 10 every at par, which are
redeemable after five years at a premium of 20%. What will be the amount of
loss on redemption of debentures to be written off every year.
(m) G Ltd. acquired assets worth Rs. 7,50,000 from H Ltd. by problem of shares of
Rs. 100 at a premium of 25%. calculate the number of shares to be issued by
G Ltd. to settle the purchase consideration.
(n) Ramesh & Suresh are partners sharing profits in the ratio of 2:1 (Ramesh
Capital is Rs. 1,02,000 and Suresh Capital is Rs. 73,000) They admitted
Mahesh & agreed to provide him 1/5 in share. He brings Rs. 14,000 as his share
of goodwill. He agreed to contribute capital in profit sharing ratio. How
much capital will be brought by the incoming partner?
10. (a) How will you select a pre-packaged accounting software? discuss in brief.
(b) define the method of computation of profit or loss on disposal of
investments.
(c) discuss the purpose and status of the conceptual framework for preparation
and presentation of financial statements in brief.
(d) Write short note on red ink interest in the situation of account current.
(e) elaborate the implications of Garner vs Murray rule in partnership
accounting? discuss in brief.
(f) State the conditions to be fulfilled by a joint stock company to buy-back its
equity.
PAPER – two : AUDITING AND ASSURANCE
QUESTIONS
1. describe Auditing. elaborate the basic principles governing an audit as per AAS 1?
of auditors, elaborate those provisions?
2. What do you mean by long term investments and short term investments? What is
the audit procedure regarding evaluation and disclosure of long-term investments
as per AAS 34?
3. What is auditors report? elaborate the various kinds of auditors report?
4. Write short notes on the following:
(a) exam in depth
(b) Scope snippet of Auditors report
(c) Purpose of providing depreciation

Earning:   Approval pending.