Final Ca Mock Test May 2015
Page 1 of 8
Total No. of Questions – 7
Total No. of Printed Pages – 8
Time Allowed – 3 Hours Maximum Marks – 100
Question No 1 is compulsory &
Answer any 5 from remaining 6 questions.
All the Questions relates to Assessment Year 2015-16, unless otherwise stated in the
questions.
1. (A) Fusion Era Pvt Ltd carrying the business of car hiring and jewellery trading provides
the following information for computation of their Wealth Tax Liability for the
Assets and Liabilities as on 31.3.2015.
Particulars (Rs in Crores)
Book Value Schedule – III Value
FIXED ASSETS
Plant Machinery 10.00 -15.00
Factory Building 25.00 – 10.00
Urban Land (450 sq mtrs) 40.00 – 100.00
Motor Cars 5.00 – 10.00
INVESTMENTS
Jewellery 15.00 16.00
Plot of Land in Bhuj (480 sq mtrs) 10.00 50.00
Shares & Mutual Funds 20.00 20.00
CURRENT ASSETS
Stock (Jewellery) 150.00 – 150.00
Debtors 10.00 – 10.00
Cash in Hand 4.00 – 4.00
Bank Balance 1.00 – 1.00
LIABILITIES
Current Liabilities 40.00 – 40.00
Loans Secured on Fixed Assets (Urban Land) 30.00 – 30.00
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