Hemchandracharya North Gujarat University 2001 B.Sc Computer Science 104 : Financial Accounting & Management - Question Paper

B-12704 Seat No.--------
1st Year M.Sc. (CA & IT) exam
May/June-2001
Financial Accounting & Management

Time : three Hours ] [Total Marks : 70
Instruction : (1) All ques. are compulsory.
(2) Figures to the right shows marks of the corresponding ques..
(3) Show all necessary working clearly with respective example.

part – I

1 The subsequent trial balance relates to the Alfa Ltd.
As on 31-3-2001 Prepare final accounts : 12

Particulars Debit Credit
Rs. Rs.

Share capital ( 16000 equity shares
every of Rs. 10) 1,60,000
Staff loan 10,000
Opening stock 4,000
Purchase and sales 90,000
Purchase sales and returns 2,000
Carriage inward 1,500
Carriage outward 2,000
Printing and stationary 4,000
Salaries 26,000
Land and building 1,40,000
Plant and machineries 50,000
Furniture 10,000
12% Term loan (From 1-4-2000) - 60,000
Commission 5,000
Discount allowed 5,000
Sales expenses 4,000
Traveling expenses 6,000
Interest and on Term loan 3,600
Debtors and creditors 20,000 18,000
Cash and Bank overdraft 1,900 4,000
3,80,000 3,80,000

Adjustments :
(1) The value of closing stock was Rs. 55,000
(2) Goods distributed as free samples not recorded in books Rs. 200.
(3) Provide depreciation on plant and machineries @ 15% and on furniture @ 10%.
(4) Salaries unpaid Rs. 4,000 and commission received in advance Rs. 100
(5) Provide 4% as provision for bad debts.
(6) The management has proposed 10% equity dividends.

2 From the subsequent Balance sheets of XYZ Ltd. Make out :
(1) Statement of modifications in the working capital and
(2) Statement showing the sources and
Application of funds :

Liabilities 31-12-’99 31-12-2000 Assets 31-12-’99 31-12-2000
Rs. Rs. Rs. Rs.
Share capital 10,00,000 11,00,000 Good will 50,000 40,000
General Land and
Reserve 2,00,000 2,30,000 Buildings 4,20,000 6,60,000
Profit and 1,10,000 1,10,000 Plant &
Loss A/c Machinery 6,00,000 8,00,000
Debentures 5,00,000 3,00,000 Stock 2,50,000 2,10,000
Creditors 70,000 3,00,000 Debtors 3,00,000 2,10,000
Provision for 40,000 1,10,000 Cash and

Earning:   Approval pending.