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Indira Gandhi Government First Grade Womens College & Department of Post Graduate Studies in Commerce Sagar II Internal Test ov ! "#$" I Semester %.com Contemporar& Issues in 'ccounting Time( $ hour %a).%ar*s("# mar*s S+CTI, - ' ote( 1. Answer any T.o of the following questions 2. Each Question Carries Five Marks "/0 1$# 1. Discuss critically adjusted discounted future wages model 2. hat is cor!orate social accounting" E#!lain with o$jecti%es.

&. 'rom the following information in res!ect of (asturi )td. Calculate the total %alue of human resource under )e% and *chwart+ model. 'ge o of +mplo&ees 'verage 'nnual +arning 23s 4###5 &,-&. 0,-0. /,-/0 &, 1/ 2, &./ / 1

A!!ly cost of ca!ital at the rate of 1/2 assuming that retirement age in /0. Section 6 ote( 1. Answer any one of the following questions 2. Each Question Carries Ten Marks $/$#1$#

0. 'rom the following details e#tracted from 345C )td relating to staff and community $enefits6 !re!are a statement classifying the different items under a!!ro!riate heads as required under cor!orate social re!orting

Particulars En%ironment 7m!ro%ement Medical facilities 8raining !rograms 5eneration of jo$ o!!ortunities Munici!al 8a#es 7ncrease in cost of li%ing in the %icinity due to 345C 9lant Concessional trans!ort and water su!!ly E#tra work !ut in $y staff without !ay )ea%e encashment and lea%e tra%el $enefits Educational 'acilities for children of staff *u$sidi+ed canteen facilities 5eneration of $usiness

3s 211,,,, 0/,,,,, 1,2/,,, 1,:/,,, 1,:,,,, 11//,,, 112/,,, 1;/,,,, /2,,,,, 211,,,, 100,,,, 2/,,,,,

/. 'ollowing is the com!arati%e $alance sheet of <=> Com!any )td on &1st Dec 2,,, ? 2,,1 6alance Sheet 7ia8ilitie s Current )ia$ilities "### 23s5 ;,,,, "##$ 23s5 .,,,, 111,,, 10,,,, 'ssets Cash ? @ecei%a$le 7n%entories A'7'3B )and "### 23s5 "##$ 23s5 2,,,,, 1/,,,, 0,,,, 21,,,, 1&,,,, 0,,,,

)ong term 1,,,,, lia$ilities Equity ca!ital 10,,,,

*hare !remium @eser%es and *ur!lus 8otal

2;,,,, -

2;,,,, /,,,,

Equi!ment )ess Accumulated De!reciation 8otal

21,,,, -

2:,,,, A20,,,B

1,,,,,

1:1,,,

1,,,,,

1:1,,,

8he income statement for "##$ as follows 7ncome *tatement Particulars 4et sales )essC cost of goods sold 3!ening in%entory A'7'3B 9urchases 1/,,,, /,,,,, 1/,,,, )essC Closing in%entory A'7'3B 5ross 9rofit )essC 3!erating E#!enses De!reciation 9rofit Defore 8a# )essC 78 9rofit After 8a# )essC Di%idend @etained Earnings .1,,, 20,,, 12,,,, 11,,,, :,,,, .,,,, 0,,,, /,,,, 1&,,,, /2,,,, 2;,,,, 3S 3S ;,,,,,

Equi!ment costing @s 1,,,, was acquired on 1E:E2,,1 when inde# was 1/:./. De!reciation is at 1,2 on straight line method. All transactions take !lace throughout the year e#ce!t di%idend which was !aid at the end of the year 2,,1. 5eneral !rice indices are at the $eginning of 2,,1 1/,. A%erage 1/:./ and at the end of the year 2,,16 11&.;

=ou are required to recast a$o%e income statement taking into account general !rice le%el changes.