CA Inter Advanced Accounting MTP September 2024: Question Paper and Solutions

How to Prepare for CA Intermediate Advanced Accounting

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Question directory and available solutions

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

1. Super Ltd., a manufacturing company, has the following summarized Balance Sheet as of March 31, 2024: Equity Shares of 10 each fully paid…
2. Venus Limited received a parcel of land at no cost from the government for the purpose of developing a factory in an outlying area. The land is…
3. Axis limited is a manufacturing company. It purchased a machinery costing 10 Lakhs in April 2023. It paid 4 lakhs upfront and paid the remaining -…
4. Gyan Ltd. borrowed 10 crore for construction of a plant at the rate of 10% per annum (interest paid annually 1 crore). The construction was being…
5. Cost of current investment acquired was - 1,00,000 but the fair value was - 80,000. The Investment was recorded at 80,000. Now the fair value of…
6. In determining the cost of inventories, it is appropriate to exclude certain costs and recognise them as expenses in the period in which they are…
7. On 15th June, 2024, Y limited wants to re-classify its investments in accordance with AS 13 (revised). Decide and state the amount of transfer,…
8. The financial statements of PQ Ltd. for the year 2023-24 approved by the Board of Directors on 15th July, 2024. The following information was…
9. From the following particulars furnished by the Prashant Ltd., prepare the Balance Sheet as at 31st March, 2024 as required by Schedule III of the…
10. The following information was provided by PQR Ltd. for the year ended 31st March, 2024 : (1) Gross Profit Ratio was 25% for the year, which amounts…
11. Wow Ltd. agreed to takeover Wonder Ltd. on 1st April, 2024. The terms and conditions of takeover were as follows: (i) Wow Ltd. issued 56,000 equity…
12. The following are the summarized Balance Sheet of VT Ltd. and MG Ltd. as on 31st March, 2024: Particulars VT Ltd. (₹) MG Ltd. (₹) Equity and…
13. From the following information of Kedar Ltd. and its subsidiary Vijay Ltd. at 31st March, 2024, prepare a consolidated balance sheet as at that…
14. Distinguish between Amalgamation, Absorption and External Reconstruction of Company.
15. Summarised Balance Sheet of Cloth Trader as on 31.03.2023 is given below: Liabilities Amount (₹) Assets Amount (₹) Proprietor's Capital 3,00,000…
16. Synergy Ltd., is in engineering industry. The company received an actuarial valuation for the first time for its pension scheme which revealed a…
17. Karan Enterprises having its Head Office in Mangalore, Karnataka has a branch in Greenville, USA. Following is the trial balance of Branch as at…
18. 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%.…
19. Aazad Ltd. has the following particulars: Particulars ₹ (lacs) 10% Preference Share Capital (10 each) 2,500 Equity Share Capital of 10 each 8,000…
20. On April 1, 2022, Hello Limited approached a software company for implementation of SAP ERP at its organisation. The cost of implementation of SAP…
21. 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…
22. The cost of inventories of items that are not ordinarily interchangeable and goods or services produced and segregated for specific projects should…
23. Securities held as stock-in-trade held by an entity are:
24. A Ltd. purchased on 1st April, 2023 8% convertible debenture in C Ltd. of face value of 2,00,000 @108. On 1st July, 2023 A Ltd. purchased another…
25. A company incorporated in June 2023, has setup a factory within a period of 8 months with borrowed funds. The construction period of the assets had…
26. You are required to prepare a Balance Sheet as at 31st March 2024, as per Schedule III of the Companies Act, 2013, from the following information of…
27. 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…
28. Smile Ltd. purchased machinery for 80 lakhs (useful life 4 years and residual value 8 lakhs). Government grant received was 32 lakhs. The grant had…
29. A Ltd. and B Ltd. give the following information as at 31.03.2024: A Ltd. (in lakhs) B Ltd. (in lakhs) Equity Share Capital (Fully paid shares of 10…
30. Star Ltd. and its subsidiary Moon Ltd. Give the following information as on 31st March, 2024: Star Ltd. (₹) Moon Ltd. (₹) Share Capital Equity Share…
31. “Accounting Standards standardize diverse accounting policies with a view to eliminate the non-comparability of financial statements and improve the…
32. XYZ Ltd. proposes to declare 10% dividend out of General Reserves due to inadequacy of profits in the year ending 31-03-2024. From the following…
33. Following is the cash flow abstract of Alpha Ltd. for the year ended 31st March, 2024: Cash Flow (Abstract) Inflows ₹ Outflows ₹ Opening cash and…
34. M/s Shrikant operates a number of retail outlets to which goods are invoiced at wholesale price which is cost plus 25%. These outlets sell the goods…