CA Inter Advanced Accounting MTP May 2026: Question Paper and Solutions

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Question directory and available solutions

36 indexed questions. Open a question to read its full statement and available answer.

1. Suman Ltd. is in the business of manufacturing electronics equipment and selling these at its various outlets. It provides installation services for…
2. According to AS-18 Related Party Disclosures, which ONE of the following is not a related party of Skyline Limited?
3. Health India Limited (HIL), incorporated under the Companies Act, 2013, is engaged in the production and distribution of medicines. It has…
4. X Ltd. sold Plant & Machinery having WDV of 60 lakhs to Y Ltd. for 75 lakhs (Fair value of 75 Lakhs) and the same plant was leased back by Y Ltd. to…
5. Following information is given by Z Ltd as o 31st March 2025: in lakhs Share Capital Equity shares of 10 each fully paid up 800 11% Redeemable…
6. Past Ltd. had the following items under the head "Reserves and Surplus" the Balance Sheet as on 31st March 2025: (Amount in lakhs) Securities…
7. Pratham and Associates is a manufacturer of steel rods. It invests its profits by purchasing shares of listed companies in order to earn dividend…
8. Glen Ltd. began construction of a new building on 1st January, 2025. On 1st April, 2025, following two loans were obtained to fund the construction…
9. Karna Ltd., an Indian Company, has the following foreign currency transactions during the financial year 2025-26: (i) On 1st July, 2025, imported…
10. In the following cases, find the value of closing stock as per AS 2: (i) Sonu is a retailer dealing in toys. During the year, he purchased items…
11. Following information is given 'by Mr. Happy (stock broker) relating to his holding in 10% Government Bonds: Opening Balance as on 1st April, 25 was…
12. Jolly Industries of Delhi is a trader in spices. It has a branch at Jalandhar to which Head office invoice goods at 20% on sales. The Jalandhar…
13. The following is the Trial Balance of Falgun Ltd., as on 31st March, 2025: Particulars Debit Amt. int. (₹) Credit Amt. int. (₹) Equity Share Capital…
14. Following is the Balance Sheet of Tourna Limited as at 31st March, 2025: Particulars Rs. Equity and Liabilities 1. Shareholders' founds A. Share…
15. Birds Ltd. and its subsidiary Rooster Ltd provided the following information for the year ended 31/03/2025. Particulars Birds Ltd. (₹) Rooster Ltd.…
16. The following is the extract of Balance Sheet of Yellow Limited as on 31.03.2025: Particulars ₹ 4,00,000 Equity shares of 10 each 40,00,000 General…
17. Analyse the disclosure and presentation requirements of AS 24 for Discontinuing Operations (any five).
18. Raman Limited and Naman Limited decided to amalgamate and form a new company Rana Limited as on 31st March, 2026and provided you the following…
19. Discuss Disclosure requirements in following cases as per AS 1. (i) Accountant of A Ltd. charges a probable loss of losing a suit in books of…
20. Gases Ltd. is installing a 2000 kms long gas pipeline for distribution of gasses (Project is a qualifying asset as per AS 16). For this purpose it…
21. State which of the following statements is true?
22. Mars Ltd. is a manufacturing enterprise which is starting a new manufacturing plant at X Village. It has commenced construction of the plant on…
23. Anshul manufacturers purchased 20,000 Kg. of raw material at 170 per Kg. Direct transit cost incurred - 5,00,000 and normal transit loss is 3%.…
24. Vijay Ltd. borrowed 30 lakh at interest rate of 5% per annum and purchased plant and machinery for 60 lakh (using borrowed funds) and started…
25. P Ltd. has 60% voting right in Q Ltd. Q Ltd. has 20% voting right in R Ltd. Also, P Ltd. directly enjoys voting right of 14% in R Ltd. R Ltd. is a…
26. Antu Limited and Bantu Limited decided to amalgamate and form a new company Anban Limited as on 31st March, 2026 and provide you the following…
27. On 1st April, 2025 Mr. Zoom had an opening balance of 1,000 equity shares of P Ltd.1,20,000 (face value 100 each). On 5.04.2025 he further purchased…
28. You are required to give the necessary journal entry at the inception of lease to record the asset taken on finance lease in books of lessee from…
29. On 31st March, 2026 Delhi Branch submits the following Trial Balance to its Head Office at Mumbai: Debit Balances ₹ in lacs Furniture and Equipment…
30. The following are the extract of balance sheet of P Ltd., and its subsidiary Q Ltd., as at 31 March 2026: Particulars P Ltd. ₹ Q Ltd. ₹ Equity &…
31. A Ltd. acquired 70% equity shares of B Ltd. @20 per share (Face value -10) on 31st March, 2026 at a cost of 140 lakhs. Calculate the amount of share…
32. Following is the cash flow abstract of Alpha Ltd. for the year ended 31st March, 2026: Cash Flow (Abstract) Inflows ₹ Outflows ₹ Opening cash and…
33. The Following is the Trial Balance of Amol Limited as on 31st March, 2026. Particulars Amount (₹) Particulars Amount (₹) Purchases 41,47,500 Sales…
34. With regard to financial statements, name any five qualitative characteristics and elements.Aman started a business on 1st April 2025 with -…
35. When capitalisation of borrowing cost should cease as per Accounting Standard 16? Explain in brief. In the following list of shares issued, for the…
36. Alpha Chemicals Ltd., a listed company, proposes a buy-back of 12% of its equity share capital from its free reserves under Section 68 of the…