Guru Gobind Singh Indraprastha Vishwavidyalaya 2008-2nd Year B.C.A Computer Application Financial Accounting, Third Semester, End Term , Year , , - Question Paper
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Stat* with reasons whether th following statements are true or false ja) Fnancial statements dcioee only monetary facts,T
jt) Going concern concept eKptains that businees win be there ter few years only f I# Cash and bank account are real accounts.-T"
yjW*mtofn paid on tfe Me poicy of the proprietor Is debited to profit and loss account levRabo analysis stechnique of pitnmng and control f
Fund tow statement and cash flow statement are one and the same !
(0) Inventory ts valued at net reakzable vabe or ooat. wfcictover is lower lh) The break even point la the point of munun profit ,,
*(i) Al sources of funds have same coat of capital
Wortwig capital deals with the short tern liquidity poc*on of the firm 7"
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What Is financial accounting? What are its objectives and kmttabone?
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gy Emlan any three of the fdtovnno accounting conoeot (Prmcdet) wtth example (>S*S161 44) Dual aspect concept jiff) Convention of conservations
(c) AocruaJ concept
(djAocounUng penod concept ?
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W Drierenoate between capital expenditure and revenue expenditure (6) -
(b) Joumakee the following transactions.- (10)
(i) Shyam became mOvent, first and final dMdend received 79 pan* i the rupee He owed us a debt of Rs 1000 JA Received cafh for a bad debt written off last year As. 250
(i) Deprecabon bn plant Rs. 2000, furniture Rs 200.
iRs sdoo. < poodp worth Rs 5000 for caafi lesa 20* trade discount and 5% cash04
91 r c\#. 4wv/i
" J&i) Renlpeid to tsndtard Rs 269O (v> Satanes due Kmeck f
(v> Satanes dm *foAtased 1 1Wnint <w)iw)drew g<
)Mthdrew goods from businees for personal use worth Rs 1000 (yrf) X. who owes Rs lOOOpeysRa 900 in ful settlement toWMbjmd goods Sigma lid of the value of Rs "Bbo xxyPlf interest on loan to 8, Rs 400
ijp mjerjst on ban to B, Rs
05 Fotowing is the Tnal Balance of Shn Cftand as on 31.032007
: Deb* Bslances Chantfsdrawwg Pirtwtii
Rs.
RMirns inwards r~Stocfc (1 4 06)
: Salary J_ i wanes ~ Rent __ .BaddeMs 'Discounts
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~ Credit Stances | |||||||||||||||||||||
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. Sundrv debtor* |
14.000 | ||
|
I Cm* in hand |
260 | ||
|
Ceehatbank |
iMO | ||
|
Irrsuranee |
400 | ||
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Trade exoanaas |
900 | ||
|
PrtnBno |
ISO | ||
|
FumMure |
2,000 | ||
|
I Machnarv |
IT-T** | ||
|
I |
OIJ |
Sheet ae on that date with the following adjuurmnts -{} Closing mix* mu valued at Rs.7,000.
(b) Insurance prepaid R*. 60
(c) Outstanding liabities, salary R 200, wegea Ra. 200.
(d) Make provlson tor doubtful debts at S%.
{) Calculate interest on capital at 5% P*
(f) Depreciate machr>ety at SH and furniture at 10%
(0) Provide lor discount on creditors at 1%.
From me follortlng balance sheets of XLId On31st Dec 2005 and 2006. you are required to prepare: (a) A schedule of changes In working capfW(b) A fund flow statement (16)
00
|
UaMltiee |
2006 |
2006 |
Assets |
2006 |
~2006 | |
|
Share caeM |
1.00.000 |
1.00.000 |
GoodW |
12,000 |
12.000 | |
|
General reserve |
14,000 |
16.000 |
Buldlng |
40.000 |
36,000 |
J |
|
Pro* end Loaa A/C |
6.000 |
3.000 |
Plant |
37,000 |
_31POO.. | |
|
S Creditors. |
6.000 |
5.400 |
inveebnents |
10.000 |
, 11,000 | |
|
Bills payable - |
1.200 |
900 |
Stock |
> 30.000 |
< 23 400 | |
|
Proweton for |
, 16.000 |
16.000 |
BAs |
1 2.000 |
3.200 | |
|
Taxation |
f |
- |
receivable |
I | ||
|
Provision for |
' 400 |
600 |
Debtors |
18.000 |
19.000 | |
|
doubtful debts |
Caafrbank |
! 6,600 |
15.200 | |||
|
: i.6oo |
1,66,600 |
1,86,600 |
1,66,600. | |||
The fotowrtng idiHona information has atso been given:
(a) Depreciation charged on plant was Rs. 4,000 and on Building Rs. 4000.
(b) Provaion for Taxation of Ra. 19.000 was made during the year 2006
(c) Interim Dividend of Ra. 6,000 was paid during the year 2006.
0 Explan the importance and llmtetion of ratio analysis.
(W'From the fbtowtng daU. calculate
(i) Break even pant expreseed m amount of sataa In rupee*.
(ii) Number of uns that muat be sold to earn a profit of Rs 60.000 per year (ti) How many units must be sold toarn a net inocntp of IW of sales?
Setting price ** to unit VanablA manufacture* Sat Rs. 11'Artt variable selling coat Rs 3/unit fixed factory overheads Ra. 5,40.000fyear. Ftxad selling costs Rs. 2.52.<XXVy*er.
UNIT-tV
Q8 Distinguish between - (5x3>16)
(a) Expftc* and impfictt coet
htf FIFO and LIFO method of inventory valuation J/t> Rjutty share and preferenoe share-
09 (a) Explain me concept of woritng capital (6)
(b) Wiat Is importance of the study of coal of capital? (6)
(c) A company has issued debenture having coupon rale 14%. floatation coat S% and face value 100. The company le In the tax bracket of 35%.The debenture would be redeemed after 5 years at a prerraum of 5%. Find the cost of debt. (5)
(6)
(10)
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Attachment: |
| Earning: Approval pending. |
