FADM, QUIZ-1

Closed book exam. Students can use their own handwritten class notes.
Following transactions are extracted from books of accounts of Electra Limited that ma
Capture the impact of the following transactions in the right cell of the table given belo

Q.1 Points 10.5

Sl no Transaction Noncurrent
asset

1 Inventory of Rs.10,00,000 purchased (50% paid)

2 Inventory of Rs.6,00,000 sold for Rs.9,00,000 (50%
credit): Inventory movement
3 Sales (refer to the above transaction)
4 Inventory of Rs.20,000 destroyed by fire (No
insurance is there)
5 A long term lender accepted cash of Rs.1,00,000 in
full satisfation of a claim of Rs.1,05,000.
6 An expense of Rs.10,000 was wrongly included in
the value of a long-term asset. You have to rectify
it.
7 Convertible bonds of Rs.1,00,000 appearing under
current liability were converted to equity
8 Salary of Rs.50,000 was paid during the period.
9 Rs.2,00,000 was paid for purchasing a brand

Q.2 Points 4.5

Classify cash flows of the following transactions or events into the right type in the tabl
Sl no Transaction or event CFO
1
Depreciation of Rs.50,000 charged to the income
statement
2
Bad debt of Rs.20,000 charged to the income
statement
3 An old machine is sold for Rs.60,000
4 Land purchased for Rs.3,00,000
5
Purchase of Debt Mutual Fund units for
Rs.1,00,000
6 Cash collected from customers: Rs.80,000
7 Salary of 30,000 paid
8 Shares of Rs.2,00,000 issued for cash
9 Dividend of Rs.12,000 paid to shareholders
 FADM, QUIZ-1, Time: 30 minutes, Total points = 15
ss notes.
Electra Limited that manufactures all varieties of fans. Balance sheet date is 31.03.2022.
of the table given below, with 'plus' and 'minus' signs together with the amount.

Trade Cash Current asset Expense Drawings

receivable other than
cash

he right type in the table given below for the company mentioned in question 1. Mention the am
CFI CFF
t date is 31.03.2022.
h the amount.

Equity Noncurrent Current liability Income

liability

question 1. Mention the amount with '+' or ' - ' sign.