a2 Illustration 20 M/s Carlin has head office at New York (U.S.A.) and branch at Mumbai (India). Mumbai branch is an integral foreign operation of Carlin & Co. Mumbai branch furnishes you with its trial balance as on 31st March, 2013 and the additional information given thereafter. Dr. Cr. Rupees in thousands Stock on 1st April, 2012 300 Purchases and sales 800 1.200 Sundry Debtors and creditors 400 300 Bills of exchange 120 240 Wages and salaries 560 Rent, rates and taxes 360 Sundry charges 160 Computers 240 Bank balance 420 New York office a/c 1,620 3,360 3,360 Additional information: (a) Computers were acquired from a remittance of US $ 6,000 received from New York head office and paid to the suppliers. Depreciate computers at 60% for the year. (b) Unsold stock of Mumbai branch was worth 4,20,000 on 31st March, 2013. (c) The rates of exchange may be taken as follows: on 1.4.2012 @ 740 per US $ on 31.3.2013 @ 42 per US $ average exchange rate for the year @ 741 per US $ conversion in $ shall be made upto two decimal accuracy. You are asked to prepare in US dollars the revenue statement for the year ended 31st March, 2013 and the balance sheet as on that date of Mumbai branch as would appear in the books of New York head office of Carlin & Co. You are informed that Mumbai branch account showed a debit balance of US $ 39609.18 on 31.3.2013 in New York books and there were no items pending reconciliation