TYBFM - CORPORATE ACCOUNTING (ASSIGNMENT)
Q. 1 From the following balances, prepare Profit And Loss account of Shyam Bank Ltd. for
the year ended 31st March,2018.:
Particulars ₹ Particulars ₹
Interest on Loans 12,95,000 Rent and Rates 90,000
Interest on Fixed Deposits 13,75,000 Interest on Overdraft 7,70,000
Rebate on Bills Discounted 2,45,000 Directors Fees 15,000
Commission 41,000 Auditors Fees 6,000
Establishment Charges 2,70,000 Interest on Saving Bank A/c 3,40,000
Discount on Bills Discounted (net) 7,30,000 Postage and telegram 7,000
Interest on Cash Credit 11,15,000 Printing and Stationery 14,500
Interest on Current Account 2,10,000 Sundry charges 8,500
Bad Debts to be written down amounted to ₹2,00,000. Provision for taxation may be made
at 50% of Net Profits. Transfer to Statutory reserve to be @25%.
Q. 2 From the Following Particulars, prepare the final Account of HDFL Bank Ltd.
Trial Balance as on 31st March, 2014
Particular Dr. (₹) Cr.(₹)
Share Capital:
1,00,000 shares of ₹10 each; ₹5 paid up 5,00,000
Reserve Fund 10,00,000
Fixed Deposits 20,00,000
Saving Bank Deposits 30,00,000
Current Accounts 70,00,000
Borrowed from Bank 2,00,000
Investment 30,00,000
Premises 12,00,000
Cash in Hand 60,000
Cash at Bank 28,00,000
Money-at-Call & short notice 3,00,000
Interest accrued and paid 2,00,000
Salaries 80,000
Rent 30,000
Profit and Loss Account(1.04.13) 1,60,000
Net Profit for the year 4,50,000
Bill Discounted 5,00,000
Bills Payable 8,00,000
Loans, Advances Overdrafts and cash credit 70,00,000
Unclaimed Dividend 30,000
Sundry Creditors 30,000
The Bank has the bills for ₹14,00,000 as collection for its constituents and also acceptance
and endorsement for them amounting to ₹4,00,000.
Q. 3 From the following information, calculate the provision to be made against the
advances for NPA as on 31/03/2010.
Particulars CC OD Term Loan Bills
Discounted
Standard 60 40 100 20
Sub-standard 10 05 15 --
Doubtful:
Up to 1 year 10 -- 10 --
1-3 years 12 -- 20 --
Above 3 years 13 -- 40 --
Loss Assets 15 -- -- --
120 45 185 20
Doubtful assets are secured to the extent of 50% of the amount due.
Q. 4 Miss Bhagwati entered into the following transactions of purchase and sales of 12%
Debentures of ₹100 each of Mansi Ltd. Interest is Payable on 30th June and 31st December
every year. Transactions are as under;
Date No. of Debentures Terms
01-04-2015 800 Opening balance at a cost of ₹76,000
01-06-2015 300 Sold at ₹105 each cum-interest
01-09-2015 700 Purchase at ₹98 each ex-interest
01-12-2015 400 Purchased at ₹108 Cum-Interest
01-02-2016 900 Sold at ₹97 each Ex-interest
Prepare Investment Account of 12% Debentures in the Books of Bhagwati for the year
ended 31st March 2016. The Market Value on 31st March 2016 was Rs.67,500 of the Said
Investment. Apply AS13.
Q. 5 On 1st January, 2018 Anjali Ltd. purchased Goods worth US $ 45000 from Angel
Trading Company of USA.
The Payments were made as Follows;
On 27th December, 2017 $ 2,500
th
On 14 January, 2018 $ 7,000
On 24th February, 2018 $ 10,000
th
On 16 March, 2018 $ 15,000
th
On 15 April, 2018 $ 10,500
Anjali Ltd. closes its books on 31st March every year. The Exchange rate for 1 US $ was as
follows;
On 27th December, 2017 ₹68.25 On 24th February, 2018 ₹68.25
st
On 1 January, 2018 ₹68.50 On 16th March, 2018 ₹69.25
th
On 14 January, 2018 ₹68.25 th
On 15 April, 2018 ₹67
Pass Journal Entries and Prepare Foreign Exchange Fluctuation A/c in the books of Anjali
Ltd.
Q. 6 Ashish Ltd. had entered into the following transactions in foreign currency during the
year ended 31st March, 2002. You are requested to pass necessary journal entries for the
year ended 31-03-2002.
Date Particulars
10-06-21 Goods worth $ 10,000 exported to G of Germany
20-06-21 Payment received from G of Germany $10,000
16-08-21 Raw material imported worth $ 5,000 from S of South Korea
31-08-21 Payment made to S of South Korea $ 5000
10-10-21 Payment received from SA of south Africa $ 20,000 as advance.
15-10-21 Goods worth $ 20,000 exported to SA of South Africa
03-11-21 A Machine worth $ 12,000 imported from UK industries of UK
15-11-21 Payment made to UK industries of UK
15-12-21 Payment made to UK industries of UK
15-01-22 Exported goods to BK industries of Bangladesh worth $ 2000. Payment
was outstanding as on 31-03-22.
15-03-22 Imported Machinery worth $ 10,000 from GK of Germany. Payment
was outstanding as on 31-03-22.
The exchange rate for $ 1 during the year was as follows;
Date Exchange Rate
10-06-21 46.75
20-06-21 46.50
16-08-21 48.00
31-08-21 48.50
10-10-21 48.75
15-10-21 49.00
03-11-21 48.60
15-11-21 48.70
15-12-21 48.40
15-01-22 49.00
15-03-22 49.50
31-03-22 50.00
