Saurastra University 2006 M.Com Commerce Corporate Financial Accounting - Question Paper

Receivables 2,00,000 4,00,000
Inventories 1,00,000 4,00,000
Cash–Bank 50,000 1,00,000
10,50,000 20,00,000
SX-5665] 12 [Contd...
(b) The subsequent are the figures related with Income state 7
ment of Sanjay Trading Co. Ltd. for the year ending
31-3-2006. With the help of common-size statement you
are needed to interpret in regards with cost of good
sold, administrative-selling and distribution operating
expenses, operating income and profit :
Particulars Rs.
Opening stock 70,000
Closing stock 80,000
Purchases 3,75,000
Sales 7,50,000
Administrative expenses :
Salaries 37,000
Rent 12,000
Stationery-postage 5,000
Provision for taxation 50,000
Selling and distribution expenses :
Salaries 18,000
Advertising 6,000
Commission on sales 7,500
Discount 2,000
Non-operating expenses and income :
Interest expenses 5,000
Loss on sale of assets 11,500
Profit on sale of investments 9,500
(c) Prepare a statement showing pattern percentage from 5
the subsequent info relates with P and L
account of Jayesh Co. Ltd. since the period 31-3-2004
to 31-3-2006 : (First obtain out missing data)
Particulars 31-3-04 31-3-05 31-3-06
Sales Rs. (?) (?) (?)
Production cost
of good sold Rs. 2,40,000 2,35,600 2,78,400
Gross profit Rs. 1,60,000 1,44,400 2,01,600
Net profit Rs. 1,20,000 (?) (?)
Administrative
expenses Rs. (?) 0,38,800 0,44,000
3 Nilkanth Ltd. and Aashutosh Ltd. both decide for 20
amalgamation by selling their businesses to a new company
Ishaan Ltd. is to be formed with an authorised capital of
Rs. 30,00,000 divided into 20,000 equity shares of Rs. 100
pref. every and 10,000 preference shares of 9%, every of Rs.
100. The balance sheets of 2 companies as at 31st March,
2006 are as subsequent :
SX-5665] 13 [Contd...
Liabilities Nilkanth Aashutosh Assets NilkanthAashutosh
Ltd. Ltd. Ltd. Ltd.
Rs. Rs. Rs. Rs.
Share capital : Goodwill — 1,20,000
18,000 shares of Land-Building 11,00,000 —
Rs.100 each, Freehold building — 6,40,000
Rs.75 paid 13,50,000 — Plant-machinery 2,50,000 —
10,000 sahres of Fixture-fittings — 1,30,000
Rs.100 every Stock 60,000 1,40,000
fully paid — 10,00,000 Bills receivables 40,000 90,000
Share premium 1,62,000 — Debtors
Reserve 30,000 — Nilkanth ltd. 44,000
P and L A/c 18,000 1,000 – BDRes. 4,000 40,000 30,000
6% debentures — 1,00,000 Bank 36,000 2,000

Earning:   Approval pending.