Loyola College Fin. Accounts & Fin. Stat. Analysis Question Papers Download
Loyola College B.Sc. Mathematics April 2008 Fin. Accounts & Fin. Stat. Analysis Question Paper PDF Download
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Sc.,B.A. DEGREE EXAMINATION – MATHEMATICS & ECONOMICS
|
FOURTH SEMESTER – APRIL 2008
CO 4205 / 4201 – FIN. ACCOUNTS & FIN. STAT. ANALYSIS
Date : 24/04/2008 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
SECTION A
Answer all questions: 10 x 2 =20 marks
- What is Overdraft?
- How does one treat recovery of bad debts in accounts?
- Differentiate between Cash discount and Trade discount?
- a. Only __________transactions are recorded in the Single Column Cash Book
- A ___________is a short explanation of the transaction.
- What is a voucher?
- Who are non- profit seeking concerns? Give examples
- List any two advantages of Subsidary books?
- Why is a Trial balanace prepared?
- Ascertain purchases from the following figures:
Cost of goods sold Rs. 80,700
Opening Stock Rs. 5,800
Closing stock Rs. 6,000
- Calculate the Capital fund by preparing Balance sheet:
Rs. Rs
Cash 6,000 Bank balance 35,000
Subscription outstanding 2,000 Furniture 20,000
Building 1,00,000 Salaries outstanding 4,000
SECTION B
Answer any five questions: 5 x 8 = 40 marks
- What are Assets? Discuss the various types of assets?
- Write a brief note on the importance of ratio analysis.
- Briefly explain the concepts which form the backbone of Accounting.
- Moon Ltd had a balance of Rs.75,000 in its Profit & Loss account on 1st April 2006. During 2006-2007, its profit before tax amounted to
Rs. 7,62,500. The income tax provision for the year amounted to be
Rs. 3,47,500. The company decided to transfer Rs. 60,000 to General Reserve, Rs. 87,500 to sinking fund for redemption of debentures, to pay a dividend for the financial year at the rate of 10%. The company’s share capital consisted of 3,00,000 shares of Rs. 10 each. Draw up the Profit & Loss Appropriate account.
- Statement of the financial position of Mr. Ram is given below:
Liabilities 2006 2007 Assets 2006 2007
Creditors 2,900 2,500 Cash 4,000 3,000
Capital 73,900 61,500 Debtors 2,000 1,700
Stock 800 1,300
Building 10,000 8,000
Land 60,000 50,000
——— ——— ———- ———
76,800 64,000 76,800 64,000
Additional information:
(i) There were no drawings
(ii) There was no purchase or sales of either building or other fixed assets.
Prepare a Statement of cash flow.
- Journalise the following transactions in the books of Mr. Hari for the month of January 2008
Rs.
1 Hari started business with capital 2,50,000
5 Purchased goods from Shankar 24,000
7 Purchased goods for cash 4,000
8 Purchased chairs 1,500
10 Proprietors drawings 1,000
11 Paid rent to the landlord , Mr. Ram 1,700
13 Received interest 1,000
15 Sold goods to Suresh 4,000
20 Paid to Shankar Rs.23,500 and discount received Rs.500
22 Paid salary to the Manager, Mr. Arun 2,000
- Prepare a bank reconciliation statement from the following:
Rs.
Bank balance as per Cash Book 18,500
Cheques deposited but not collected by the bank 6,000
Cheques issued but not presented for payment 4,500
Bank charges debited in the pass book 150
Dividend collected by bank not entered in the cash book 1,200
Insurance premium paid by the bank not entered in the
Cash book 350
- M/s Sathish & Co furnishes the following information for the month of January 2008. Prepare a Cash book with Cash and Bank columns:
Jan Rs.
1 Balance in Hand 1,000
Bank Overdraft 3,000
3 Issued a cheque to Sharma 500
5 Received a cheque from Mr. Charles and
Deposited into bank 1,000
7 Drew from bank for office use 500
9 Paid Life insurance premium in cash 250
15 Bank collected dividend 500
SECTION C
Answer any five questions: 2 x 10 =40 marks
- The following is the summary of cash transactions of Chennai Literary Club for the year ended 31st December 2007
Receipts Rs. Payments Rs.
To Balance from last year 3,190 By Rent & Rates 1,680
To Entrance fees 2,250 By Wages 2,450
To Subscription 16,000 By Lighting 720
To Donations 1,650 By Lecture fees 4,350
To Life membership fee 2,500 By Books 2,130
To Interest 140 By Office expenses 4,500
To Sale of furniture By Placed on 6%
(Book value Rs. 500) 720 fixed deposit 8,000
By Cash at bank 2,420
By Cash in hand 200
——– ——–
26,450 26,450
——– ——–
At the beginning of the year, the Club possessed Books worth Rs.20,000 and Furniture worth Rs.8,500. Furniture worth Rs. 500 was sold on 1.1.07 for
Rs. 720 as shown in the above cash summary. Ordinary Subscription in arrears at the beginning of the year amounted to Rs. 350 and at the end of the year Rs. 450.
Prepare Income and Expenditure Account of the Club for the year ended 31st December, 2007 and a Balance sheet at that date after writing off Depreciation at 5% per annum on Furniture and 10% per annum on Books.
Entrance fees and Donations to be capitalized.
- From the following Trial Balance of M/s Ram & Sons, Prepare Trading and Profit and Loss Account for the year ending on 31st December 2007 and the Balance Sheet as on that date
Dr. Cr.
Purchases and Sales 21,750 35,000
Discount 1,300
Wages 6,500
Salaries 2,000
Travelling expenses 400
Commission 425
Carriage inwards 275
Administration expenses 105
Trade expenses 600
Interest 250
Building 5,000
Furniture 200
Debtors 4,250
Capital 13,000
Cash 7,045
Creditors 2,100
——— ———
50,100 50,100
Additional information:-
Stock on 31st December 2007, was Rs. 6,000. Depreciate building by 20%. Create a provisions for bad debts at 10% on debtors. Outstanding wages
Rs. 475.
- Using the following data, complete the balance sheet below:
Gross profit ratio 20%
Current ratio 1.8
Stock turnover ratio 4times
Debt collection period 20 days
(360 days year)
Long-term debt to equity 40%
Total assets turnover ratio
(on sales) 0.3 times
Credit sales to total sales 80%
Gross profit Rs. 1,08,000
Share capital & Reserves and Surplus Rs. 12,00,000
Loyola College B.Sc. Mathematics April 2009 Fin. Accounts & Fin. Stat. Analysis Question Paper PDF Download
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Sc., B.A. DEGREE EXAMINATION – MATHEMATICS&HISTORY,ECONOMICS
|
FOURTH SEMESTER – April 2009
CO 4205 / 4201 – FIN. ACCOUNTS & FIN. STAT. ANALYSIS
Date & Time: 27/04/2009 / 9:00 – 12:00 Dept. No. Max. : 100 Marks
SECTION A
Answer all the questions: (10 x 2 = 20 marks)
- List the various types of cash book?
- What is Bank Reconciliation Statement?
- Journalise the following:
- Goods worth Rs.1,000 taken by the proprietor for personal use
(ii) Paid Advertisement expenses to Anil & Co., Rs.1,500
- Classify the following under Personal, Real, Nominal account
- Outstanding salary (b) Goodwill (c ) Loss by fire (d) Purchases
- Fill in the blanks:
- Purchases book is also known as ___________.
- Journal is the book of _________ entry.
- Ascertain the amount of profit/loss on sale of machinery:
Cost of Machine Rs. 1,00,000; Accumulated Depreciation on machinery Rs. 30,000 ; Sale value of machinery Rs. 85,000
- Find out Earning per share from the following:
Net profit after tax Rs. 2,00,000
10% Preference Share capital Rs. 4,00,000
Equity share capital (Rs.10 each) Rs. 1,00,000
- Calculate the amount of subscription to be credited to Income and expenditure account for the year 2008:
Subscriptions received during 2008 Rs.24,000
Subscriptions received in advance for 2009 Rs. 1,600
Subscriptions outstanding in the beginning of 2008 Rs. 2,000
Subscriptions outstanding at the close of 2008 Rs. 1,500
- What are the different modes of expressing ‘Ratios’?
- Give adjusting entry for the following:
- Depreciation @10% on furniture of Rs. 5,000
- Wages outstanding Rs. 200
SECTION B
Answer any five questions: (5 x 8 = 40 marks)
- Who are the users of accounting information and why do the users need the accounting information?
- Explain any four accounting concepts.
- What is ‘Petty cash book’? What are its advantages?
- Prepare a bank reconciliation statement from the following data as on 31-12-2008
Rs.
- Balance as per cash book 25,000
- Cheques issued but not presented for payment 18,000
- Cheques deposited in bank but not collected 20,000
- Bank paid insurance premium 8,000
- Direct deposit by a customer 5,000
- Interest on investment collected by bank 12,000
- Bank charges 1,000
- Enter the following transactions in Rohan’s cash book with discount and cash column:
Date Particulars Rs.
Jan 1 Cash balance 18,500
3 Cash sales 33,000
7 Paid David 15,850
Discount allowed by him 150
13 Sold goods to Mohan on credit 19,200
15 Cash withdrawn for personal expenses 2,400
16 Purchased goods form Charles on credit 14,300
22 Paid into bank 22,750
25 Cash received from Mohan 19,000
Allowed him discount 200
- A Ltd., provides the following accounting data for the year ending 31st March 2008 and request you to ascertain (a) Gross profit ratio (b) Net profit ratio
(c) Operating ratio (c) Operating profit ratio
Rs.
Sales 20,00,000
Gross profit 8,00,000
Office expenses 60,000
Selling expenses 40,000
Finance expenses 30,000
Loss on sale of plant 4,000
Interest received on investments 5,000
Net profit 6,71,000
- Naresh Ltd., had a balance of Rs. 80,000 in its Profit & Loss appropriation account on 1st April 2007. During 2007-2008, its profit before tax amounted to Rs. 7,62,500. The income tax provision of the year amounted to be 347,500. The company decided to transfer Rs. 60,000 to General Reserve, Rs,. 87,500 to sinking fund for redemption of debentures to pay a dividend for the financial year at the rate of 10%. The company’s share capital consisted of 3,00,000 shares of Rs.10 each. Draw up the Profit & Loss Appropriation Account.
- The following balances were extracted from the ledger of Ram on 31st March 2008. You are required to prepare a trial balance as on that date in proper form:
Rs. Rs.
Drawings 6,000 Salaries 9,500
Capital 24,000 Sales returns 1,000
Sundry creditors 43,000 Purchase returns 1,100
Bills payable 4,000 Travelling expenses 4,600
Loan from Karthik 10,000 Commission paid 100
Furniture 4,500 Trading expenses 2,500
Opening stock 47,000 Discount earned 4,000
Cash in hand 900 Rent 2,000
Cash at bank 12,500 Bank overdraft 6,000
Tax 3,500 Purchases 1,26,000
Sales 1,28,000
SECTION C
Answer any two questions: (2 x 20 = 40 marks)
- The following Trial Balance is extracted from the books of Mr. Rahul on 31-12-2008
Particulars Debit Credit
Rs. Rs.
Furniture 640
Motor vehicles 6,250
Buildings 7,500
Capital 12,500
Bad debts 125
Sundry Debtors and Creditors 3,800 2,500
Stock on 1-1-08 3,460
Purchases and Sales 5,475 15,450
Bank overdraft 3,050
Sales and Purchases returns 200 125
Advertising 450
Interest 118
Commission 375
Cash 650
Taxes and insurance 1,250
General expenses 782
Salaries 3,300 ______
34,000 34,000
Adjustments:
Stock on 31-12-2008 was Rs. 3,250
Depreciate Buildings @ 5% Furniture @ 10% and Motor vehicle @ 20%
Salaries Rs. 300 amd taxes Rs. 120 are outstanding
Insurance prepaid for Rs. 100
Write off further Rs. 100 as bad debts
Prepare Trading and Profit and Loss account for the year ending 31-12-2008 and
a Balance Sheet as on that date.
20 The following is the Receipts and Payments A/c of Delhi football association for the first year ending 31st Dec 2008
Receipts & Payments Account
Receipts Rs. Payments Rs.
To Donation 50,000 By Pavilions office 40,000
To Reserve Fund (Life
Membership and entrance fees) 4,000 By expenses in connection
To Receipts from football with matches 900
Matches 8,000 By furniture 2,100
Revenue Receipts: By Investments at cost 16,000
To Subscriptions 5,200 Revenue Payments:
To locker Rents 50 By Salaries 1,800
To interest on securities 240 By Wages 600
To sundries 350 By Insurance 350
By Telephone 250
By Electricity 110
By Sundry expenses 210
By Balance on hand 5,520
67,840 67,840
Additional information:
- Subscriptions outstanding for 2008 are Rs. 250
- Salaries unpaid for 2008 are Rs. 170
- Wages unpaid for 2008 are Rs. 90
- Outstanding bill the sundry expenses is Rs. 40
- Donations received have to be capitalized.
Prepare from the details given above and Income and Expenditure A/c for the year ended 31-12-2008 and the Balance Sheet of the Association as on that date.
21.Following are the summarized Balance Sheets of Arul Ltd as on 31st Dec 2007 and 2008
Balance Sheets
| Liabilities | 2007
Rs. |
2008
Rs. |
Assets | 2007
Rs. |
2008
Rs. |
| Share capital
General reserve P&L A/c Bank Loan Sundry creditors Provision for taxation |
1,00,000
50,000 30,500 70,000
50,000
32,000
|
1,50,000
60,000 30,000 –
37,200
35,000 |
Land & Building
Plant & Machinery Stock Debtors Cash Bank Goodwill |
1,00,000
1,00,000 50,000 75,000 500 2,000 5,000 |
90,000
1,19,000 24,000 63,200 1,000 15,000 |
| 3,32,500 | 3,12,200 | 3,32,500 | 3,12,200 |
Additional information:
During the year ended 31st December 2008
- Dividend of Rs. 23,000 was paid
- Depreciation written off on building Rs. 10,000, Machinery Rs. 14,000
- Income tax paid during the year Rs. 28,000
Prepare a statement of cash flow for the year ended 31 Dec 2008.
Loyola College B.Sc. Chemistry April 2007 Fin. Accounts & Fin. Stat. Analysis Question Paper PDF Download
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Sc.,B.A. DEGREE EXAMINATION –MATHS.,CHEM.,ECONOMICS
|
FOURTH SEMESTER – APRIL 2007
CO 4201 – FIN. ACCOUNTS & FIN. STAT. ANALYSIS
Date & Time: 19/04/2007 / 9:00 – 12:00 Dept. No. Max. : 100 Marks
Section – A
Answer all Questions . 10×2=20
- What is double entry system of book – keeping ?
- State the rules for debiting and crediting.
- What is convention of conservatism ?
- What is Trial balance ?
- What is Earnings per share ?
- Distinguish between capital expenditure and revenue expenditure ?
- Why is Bank Reconciliation prepared ?
- Compute the amount that should be debited to Income and Expenditure a/c.
Stock of balls and bats as on 1.1.04 Rs.2000
Purchase of balls and bats during 04 Rs.7500
Stock of balls and bats as on 31.12.04 Rs.3600.
- Give a proforma of P/L Appropriation a/c.
10.Calculate Net profit and Gross profit Ratio. Sales Rs. 5,00,000 ; Gross profit
Rs.1,50,000. Net profit before tax Rs.1,00,000 ; Tax rate is 40 %.
Section – B
Answer any five Questions (5×8=40)
- Distinguish between Receipt and Payment account and Income and Expenditure
account.
- Explain the advantages and limitations of cash flow analysis.
- Explain the fundamental concepts of double entry system.
- Enter the following transactions in the proper subsidiary books:
Bought from Rathi Coal Co. 100 tones of steam coal @ Rs.577.50 per tonne.
Bought from Bishamber Dayal.
200 tones of soft coke @ Rs 465.00 per tonne.Less 5 % Trade Discount.
Bought from Central Coal Co.
200 tonnes of hard coke @ Rs.522.50 per tonne.Less 5 % Trade Discount.
Sold to Tea House.
10 tonnes of soft coke @ Rs.500.00 per tonne.Less 2.5 Trade Discount.
Sold to Widsons Industries.
400 tonnes of coal at an average price of Rs.532.50 per tonne.Less 5% Trade
Discount.
- Write the following transactions in a Three – Column Cash Book and bring down
the balances.
2001 Rs
Dec. 1 Cash in hand 200
Cash at bank 1,800
4 Received cash from Sri Ram 95
Allowed him discount 5
6 Purchased stationery for cash 20
7 Paid to Sri.Shyam by cheques 330
Received discount 10
12 Rahim settled his account for less 5% discount by cheque 500
18 Paid sundry expenses in cash 30
23 Paid to Sri Jadu in cash 190
Received discount 10
24 Withdrew from bank for office cash 100
- The comparative Balance Sheet of M/s.Ram brothers for the two years were as
follows :
—————————————————————————————————-
Liabilities 1984 1985 Assets 1984 1985
Rs. Rs. Rs. Rs.
Capital 1,50,000 1,75,000 Land & Buil. 1,10,000 1,50,000
Loan from Bank 1,60,000 1,00,000 Machinery 2,00,000 1,40,000
Creditors 90,000 1,00,000 Stock 50,000 45,000
Bills payable 50,000 40,000 Debtors 70,000 80,000
Loan from S.B.I __ 25,000 Cash 20,000 25,000
————————- ————————– 4,50,000 4,40,000 4,50,000 4,40,000
————————– ————————-
Additional Information :
- Net profit for the year 1985 amounted to Rs .60,000.
- During the year a machine whose book value 15,000 was sold for Rs.13,000.
You are required to prepare a cash flow statement.
- From the following particulars of a trade , prepare a Bank Reconciliation Statement as on 30th April , 2001 :
- Bank overdraft as per Cash Book Rs. 7,050.
- During the month , of cheques deposited into bank , one cheques for Rs.1,860 has not been collected.
- cheques issued for Rs.7,150 has not yet encashed .
- As per instruction, the bank had paid out 1,750 to a creditor , but the same has not yet been entered in the cash book.
- a debtor had deposited directly into the bank Rs.1,500 but the same has not been recoded in the Cash Book.
- the bank without any intimation had debited his account for Rs.20 as bank charges and credited the same for Rs.30 as interest .
- Following is the Balance Sheet of Y Ltd.
Rs Rs
Eqty,share capital 1,00,000 Cash at bank 12,000
6% Pref.share capital 1,00,000 Bills Receivable 50,000
Debentures 60,000 Debtors 70,000
Reserves 1,50,000 Stock 40,000
Creditors 67,000 Furniture 1,30,000
Bank Over Draft 40,000 Buildings 2,20,000
Proposed Dividend 30,000 Goodwill 45,000
Profit & Loss a/c 20,000
———— ————-
5,67,000 5,67,000
————- ————-
Calculate Short term solvency and Long term solvency Ratios.
Section – C
Answer any two questions (2×20 = 40)
- With the help of the following ratios regarding Indu films draw the Balance Sheet of
the Company for the year 1985.
Current ratio 2.5
Liqudity ratio 1.5
Net Working capital Rs.3,00,000
Stock Turnover ratio (cost of sales / closing stock) 6 times
Gross profit ratio 20 %
Debt collection period 2 months
Fixed assets turnover ratio (on cost of sales) 2 times
Fixed assets to shareholders net worth 0.80
Reserve and surplus to capital 0.50
- From the following information relating to Indian Cricket Club, prepare Income and Expenditure Account for the year ending 31st March,1991 and Balance Sheet as at that date. Abstract of Hon. Secretary’s cash book for the year is as follows :
Rs. Rs.
To members’ subscription 8,000 By Upkeep of field and pavilion 2,000
To members’ admission Fee 300 By Expenses regarding Tournament 3,700
To sales of Old Balls, Bates,etc 50 By Rates and Insurance 1,500
To Hire of Ground 300 By printing and stationery 100
To subscription for Tournament 4,000 By Bats , Balls,etc. 2,700
To Bank drawn 4,000 By Bank Lodged 16,650
To Donation 10,000
——— ———
26,650 26,650
———- ———
Assets on 1st April ,1990 : Rs.
Cash at bank 3,000
Stock of Bats, Balls, etc 1,500
Printing and stationery 200
Subscription due 500
Liabilities on 1st April ,1990 nil
Donation and surplus on account of tournament should be kept in reserve for a permanent pavilion. Subscription due at 31st March,1991,Rs.750 ; Write off 50 percent of Bats , Balls Account and 25 percent of printing and stationery account.
- From the following Trial Balance as on 31.3.2001, Prepare Trading Account , Profit
and Loss Account for the year ended 31.3.2001 and a Balance Sheet as on that date
Debit Balance Rs Credit Balance Rs
Drawings 3,600 Capital 40,000
Machinery 10,000 Purchase Return 1,240
Stock 13,750 Discount Received 980
Purchases 1,09,600 Sundry Creditors 15,000
Sales Return 1,800 Sales 1,30,150
Carriage Outwards 2,300
General Expenses 1,100
Advertisement 1,350
Wages 2,600
Rent and Taxes 3,500
Bad Debts 970
Sundry Debtors 33,950
Bank 2,500
Cash 350
————- ————-
1,87,370 1,87,370
————- ————–
The following adjustments are necessary –
Machinery is to be depreciated by 5% p.a
- Outstanding wages Rs . 250.
- Write off bad debts Rs . 700.
- Rent & Taxes paid in advance Rs 100.
- Stock on 31.3.2001 Rs . 19,500.
Loyola College B.Com April 2012 Fin. Accounts & Fin. Stat. Analysis Question Paper PDF Download
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.A., B.Sc., B.Com. DEGREE EXAMINATION – ECO. MATHS & COMM.
FOURTH SEMESTER – APRIL 2012
CO 4205 / 4201 – FIN. ACCOUNTS & FIN. STAT. ANALYSIS
Date : 19-04-2012 Dept. No. Max. : 100 Marks
Time : 1:00 – 4:00
PART – A
(10 x2=20)
ANSWER ALL QUESTIONS
- What is book keeping?
- Enlist any four users of accounting information.
- What is nominal account?
- Give the meaning of management accounting.
- Write any two differences between Cash discount and trade discount.
- What is non-trading concern?
- Define Cash flow statement.
- What is meant by liquid assets?
- Prepare Subsidiary book from the following information:
Bought, 5 dozen Ink Pens from Camlin Ltd. @ Rs.20 each (Trade Discount=5%)
Sold, 3 dozen Ink Pens to Loyola Stationery Mart @ Rs.35 each (Trade Discount=20%)
Purchased, 3 dozen Pencils from Natraj Ltd. @ Rs.3 each
Sold, 10 Pencils to Anand @ Rs.4 each
- Calculate Fixed assets turn over ratio:
Bank balance Rs.10000. Furniture Rs.80000, Sales Rs.153000, Sales Returns Rs.13000, Depreciation Rs.10000, Creditors Rs.5000
Part – B
(5 x8=40)
Answer any FIVE questions
- Bring out the advantages of book keeping.
- What are the basic concepts of accounting?
- Distinguish between Receipts and Payments and income and expenditure.
- How do you classify the following items into personal, Real and nominal accounts?
- Loyola College
- Salaries
- Land & Buildings
- Sales
- Outstanding Wages
- Rent
- Arunachalam
- Sundry Debtors
- Pass journal entries in the books of Arumugham for the month of Jan. 2012
Jan. 1 Started business with Cash Rs.50000 and Land Rs.450000.
3 Bought goods from Michael on credit Rs.10000
5 Sold goods to Ahmed for Cash Rs.25000
9 Final settlement made to Michael Rs.9950
12 Paid Salaries Rs.18000 and Wages Rs.2000
18 Deposited cash into bank Rs.5000
25 Withdrew cash from bank for own use Rs.2000
29 Bought furniture from M/s. Woodpecker Ltd. for Cash Rs.28000
- Record the following transactions in the analytical petty cash book of Mr.Antony.
| Date | Particulars | Rs. |
| 2012 Mar.1 | Received from Head Office | 2000 |
| 3 | Paid for Office cleaning | 100 |
| 6 | Bought Postal Envelop | 100 |
| 7 | Paid Railway Fare | 350 |
| 9 | Bought Pen & Pencils | 65 |
| 10 | Refreshment to Office Staff | 120 |
| 12 | Revenue Stamps | 150 |
| 14 | Paid Taxi Hire | 200 |
| 17 | Coffee & Snacks | 50 |
| 19 | Office Cleaning | 150 |
| 23 | Scribbling pads | 320 |
| 28 | Paid bus fare to Peon | 30 |
| 30 | Telegram to H.O. | 15 |
- You are required to prepare Bank reconciliation statement of Mr. Amar for Feb. 2012
- Balance as per the Cash Book Rs.20000
- Cheque issued to Madhu on Feb.5, but presented for payment in March Rs.3000
- Our customer Mr. Sherwin has paid into our bank account Rs.20000
- Cheque received from Arun Rs.6000 on Feb. 20, but was not deposited till date.
- Demand Draft charges found in Pass Book Rs.50
- LIC Premium paid by the banker as per our standing instruction Rs.5000
- A wrong credit found in the Pass book Rs.500
- Interest credited in the pass book Rs.25
- Ascertain the operating profit before changes in working capital changes from the following information:
Net Profit before tax and extraordinary items Rs.200000
Dividend received on Long term investments in shares Rs.40000
Interest received on long term investment in debentures of other companies Rs.30000
Goodwill written off Rs.20000
Discount on issue of shares written off Rs.10000
Preliminary expenses written off Rs.25000
Depreciation charged on fixed assets Rs.65000
Profit on sale of equipment Rs.10000
Loss on sale of Long term investments Rs.8000
Part – C
(2 x20=40)
Answer any TWO questions
- Prepare a three column cash of Mr. Selva for the month of March 2012.
| Date | Particulars | Rs. |
| 2012 Mar.1 | Cash in hand | 150000 |
| Cash at Bank | 100000 | |
| 3 | Bought goods from Kumar on credit | 40000 |
| 5 | Sold goods to Ganesh on credit | 25000 |
| 7 | Final settlement made to Kumar | 39500 |
| 10 | Bought Computer for cash and payment made by cheque | 35000 |
| 11 | Cash Sales made | 15000 |
| 13 | Final settlement received from Ganesh | 24750 |
| 15 | Paid into Bank | 5000 |
| 18 | Cash Purchases | 75000 |
| 20 | Paid Rent | 12000 |
| 22 | Withdrew from bank | 30000 |
| 25 | Received Commission by cheque and deposited immediately | 2000 |
| 27 | Withdrew cash from Bank for own use | 1500 |
| 29 | Our customer Mr.Jegan has paid into our bank account | 25000 |
| 30 | Deposited into bank all Cash in excess of | 10000 |
- From the following details, you are required to prepare:
(a) Gross Profit Ratio (b) Net profit ratio (c) Stock Turn over ratio (d) Debtors turnover ratio (e) Current ratio
Sales Rs.300000, Cost of goods sold Rs.240000, Opening stock Rs.58000, Closing Stock Rs.62000, Debtors Rs.30000, Office expenses Rs.30000, Cash Rs.35000, Land Rs.900000, Bills Payable Rs.10000 and Creditors Rs.60000
- Prepare Trading and Profit Loss Account and Balance Sheet of Balakrishnan from the given below trial balance as on 31-3-2012
| S.No | Particulars | Debit (Rs.) | Credit (Rs.) |
| 1 | Capital | 300000 | |
| 2 | Buildings | 100000 | |
| 3 | Stock (1-4-2011) | 100000 | |
| 4 | Purchases | 400000 | |
| 5 | Machinery | 200000 | |
| 6 | Power | 10000 | |
| 7 | Wages | 30000 | |
| 8 | Insurance Premium | 4000 | |
| 9 | Office Rent | 55000 | |
| 10 | Salaries | 110000 | |
| 11 | Printings Charges | 20000 | |
| 12 | Bad Debts | 2000 | |
| 13 | Commission Received | 3000 | |
| 14 | Debtors | 51000 | |
| 15 | Creditors | 25000 | |
| 16 | Cash | 10000 | |
| 17 | Provision for Bad and Doubtful debts | 4000 | |
| 18 | Bank Loan | 125000 | |
| 19 | Sales | 700000 | |
| 20 | Advertisement | 18000 | |
| 21 | Goodwill | 47000 | |
| 1157000 | 1157000 |
Adjustments:
- Closing Stock was Rs.150000
- Salaries outstanding Rs.10000
- Insurance Premium prepaid for 3 months
- Write off further bad debts Rs.1000 and provide for bad and doubtful debts @2% p.a. on remaining debtors
- Depreciate Machinery @ 10% p.a.
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