B.Com In Banking & Insurance (BCBI) Sem V April 2024 April 2024 Financial Reporting Analysis Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Working Notes should form your answer
2. Q3 Figures to the right indicate full marks
3. Q1 A) State The whether the following statement are False (Any Eight) 8 marks
4. Q1 Unclaimed Dividend is shown by a contingent liability
5. Q2 Surplus on revaluation should be treated as other Income
6. Q3 Share Issue expenses are fixed assets
7. Q4 Both tangible and non-tangible assets are non-current
8. Q5 Sale of Building is cash flow from financing activities
9. Q6 Increase on share capital is cash outflow
10. Q7 The behavior of person depends on the ethical guidelines that he follows
11. Q8 apply accounting standard in proper manner:
12. Q9 Corporate will be change from Indian GAAP to IFRS
13. Q10 Premium shall be recognized as income only when received
14. Q1 B) Match the Columns (Any SEVEN) 7 marks
15. Q2 Dividend paid in between loss account of Callsin from book
16. Q2 A. The following is the trial balance of Alankar Bank Ltd, As on 31.3.2023 Share Capital of Rs Interest on Fixed Deposits Salaries (including Rs.12,000to manager) Loans, Cash Credit and discounted and purchased
17. Q1 Rebate on bill discounted Rs. 27,000
18. Q2 Create Reserve for bad and doubtful debts Rs.11,000
19. Q3 Acceptance On behalf of customers-Rs.80,000 You are required to prepare Profit-and Loss Account for the year ended 31.3.2023 and balance on that date. (15)
20. Q2 B From the following information find out the amount of provisions to be shown in the profit and loss account of Laxmi Commercial Bank (07) From the following information prepare the profit-and loss account of Tridev bank Ltd For the year ended March 2023. (08) Bad be written off amounted to Provision for Taxation may be.at 55% of net profit Transfer to Statutory reserve-@ 25%
21. Q3 A) From the following figures relating to. Kartik Insurance Company, Prepare Revenue Account for Fire Department, year ended March, 2023. (15) settlement of claims) 2,000 Balance of funds as-on 1“ April,2022 was Rs.7,50,000 Including Additional reserve of Rs.33,000 Additional to be created @ 5%-of the net premium of the year
22. Q3 B) Prepare the fire Insurance Revenue Account of Rishika Fire Insurance Ltd. As per IRDA regulation for the year ended 31“ march, 2023 from the following details: (15)
23. Q4 A) Following is extracted Balances of Sanjeevni Ltd.as on March 2023
24. Q1 Closing Raw Material and Finished Goods was Rs-7,00,000 and
25. Q2 Outstanding Salaries & Wages were Rs 25,000 15,000:to be provided for Bad-&
26. Q5 Make provision for tax @ 30% of Profit Before Tax Prepare Statement of Profit & Loss Account for the year ended 31“ March 2023 as per the provision of the Companies Act. (15)
27. Q4 B) Following are the summarized balance sheet-of Delta Ltd. As On 31" March 2022 and 31st Term Loan from 74,000 1,00,000
28. Q1 Depreciation on Premises was Rs 25,000, Machinery Rs 50,000
29. Q2 Income Tax Paid during the year was Rs 83,500 Prepare Cash Flow Statement as per AS-3 (15) Cash flow from Investing Activities (08)
30. Q5 B) Explain the whistle blower 7 marks
31. Q5 C) Write Short Notes (Any 3 out 5) 15 marks
    • a) Reserve for Unexpired Risk
    • c) Company Code of Ethics
    • d) Nees of IFRS

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