No.

1 for CA/CWA & MEC/CEC MASTER MINDS

3. DEPARTMENTAL ACCOUNTS

ASSIGNMENT PROBLEMS
Solution No. 1

IPCC_ 34.5e _ Crash_ Accounts (Group-2)_Departmental Accounts______________1

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Solution No. 2

Solution No. 3

IPCC_ 34.5e _ Crash_ Accounts (Group-2)_Departmental Accounts______________2

 No.1 for CA/CWA & MEC/CEC MASTER MINDS

Solution No. 4

IPCC_ 34.5e _ Crash_ Accounts (Group-2)_Departmental Accounts______________3

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Solution No. 5
FGH Ltd.
Departmental Trading and Profit and Loss Account for the year ended 31st March, 2004

IPCC_ 34.5e _ Crash_ Accounts (Group-2)_Departmental Accounts______________4

 No.1 for CA/CWA & MEC/CEC MASTER MINDS
Working Note: Calculation of Inter Department Transfer
A) From Dept I to Dept J
Op Stock + Material Cons + Dir Labour Cost – Cl Stock = 25,000/-
Profit on transfer is 20% of Cost = Rs 5,000/-. Hence transfer = 30,000/-
B) From Dept J to Dept K
Op Stock + Material Consumed + Direct Labour + Inward Transfer – Cl Stock = Rs.48,000/-
Profit on transfer = 20% of sale value i.e. 25% of cost price = Rs 12,000/-
Hence, stock transferred to K at a value of Rs 60,000/-
Working Note:
Calculation of unrealized profit on closing stock

Solution No. 6

IPCC_ 34.5e _ Crash_ Accounts (Group-2)_Departmental Accounts______________5

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Note: Gross profit of Department A is 30% of Sales price (including transfer to Department C).
There is some unrealised profit only on inter departmental stock. 30% of ` 5,700 is as stock reserve.
This will be debited to Profit and Loss Appropriation Account.

Profit and Loss Appropriation Account

Solution No. 7

Department Trading Account

For the year ending on 31.03.2013 In the books of Head Office
Particulars Particulars
To Opening Stock 65,000 By Sales 3,00,000
To Purchases 2,00,000 By Shortage 1,000
To Gross Profit c/d 58,880 By Closing Stock 22,880
3,23,880 3,23,880
Memorandum stock account (for Department A) (at selling price)

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 No.1 for CA/CWA & MEC/CEC MASTER MINDS

List of Solutionss ignored from Practice Manual along with the reason for such Ignorance-

Theory: Nil.

Basic Solutionss: 6,9.

Already Model Covered: 2,7,12.

THE END

IPCC_ 34.5e _ Crash_ Accounts (Group-2)_Departmental Accounts______________7