‘aac a aaa ca ek tee ns Q.6 QUESTION PAPERS Liabilities 2007 2008 | Assets 2007 2008 2) ® ® ® | Equity share capital | 3,00,.000 | 4,00,000 | Goodwill 1,00,000 85,000 2% redeemable 1,50,000 | 1,00,000 | Plant 1,25,000 | 1,40,000 debentures Buildings. 2,24,000 | 2,06,000 General reserve 40,000 50,000 | Long-term | P and L account 30,000 48,000 | investments 25,000 35,000 Sundry creditors 24,000 30,000 | Stock . 40,000 65,000 Outstanding 5,000 3,000 | Debtors 20}000 30,000 i expenses Preliminary expenses 5,000 3,000 Cash 10,000 67,000 549,000 _| 631,000 549,000 | 631,000 respectively. by-products. OR ending 31 March 2008. During the year 2008 depreciation of & 12,500 and & 18,000 were provided on plant and buildings, 6. (a) Distinguish between joint and by-products and discuss any two methods of accounting for (b) The following data have been extracted from the books of Suguna Industries Ltd for the year ®@. ®) Opening stock of raw material 25,000 | Depreciation on equipment Factory 10,000 Purchase of raw material Closing 85,000 Office 2,000 stock of raw material 40,000 | Salaries: Office 2,500 ! Carriage inward 5,000 Salesmen 2,000 : Direct wages 75,000 | Other factory expenses 5,700 : Indirect wages 10,000 | Baddebts written off 2,000 i Other direct charges 15,000 | Advertising expenses 3,000 Rent and rates: Carriage outward 1,500 Factory 5,000 | Manager's remuneration 12,000 Office 1,000 . | Sales 2,60,00 Income-tax paid 10,000 a statement showing the following: (i) Prime cost ) Factory cost (ii) Cost of production | (iv) Cost of sales (v) Net of profit. ‘The manager has the overall charge of the company and his remuneration is to be allocated at € 4,000 to the factory; € 3,000 to the office; and & 5,000 to the selling operations. From the above particulars prepare