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

Questions asked in this paper

• 3) Figures to the right indicate full marks

1. Q1 A) Select the most appropriate alternative form those given below and rewrite the
   • 1) A banking company in Mumbai must
   • 2) Money at call and short notice can be withdrawn
   • 3) Fire insurance policies are always subject to
   • a) Provision B) Current liability C) Average clause D) None of the above
   • 4. Revenue A/c is prepared in form
   • 5) Net Block in asset schedule is Gross Block minus
   • a) current liabilities reserve c) Accumulated Depreciation d)AIl of the above
   • 6) Interim dividend of a company
   • a) Shareholders b) Board of directors c) Auditor .d) SEBI
   • 7) Purchase of building is ------- activity in cash flow
   • 8) Refund of income tax is a cash flow
   • 9) Ethical behaviour should be practiced
   • a) all Stakeholders b) only Shareholders d) None of the above State TRUE OR FALSE (ANY 7) : (07)
   • 1. Deposits are repayable on demand,
   • 2. Provision on bills discounted is shown under contingent liability
   • 3. The term surrender is used in
   • 4. Fresh issue of shares is investing activity
   • 5. The amount at which the asset could be exchanged is a Fair value
   • 6. IFRS 1 is for frequent users
   • 7. Whistle blowers can be employees of the company
   • 8. Balances with RBI is shown under schedule 7 in banking final accounts
   • 9. Financial analysis is useful for knowing profitability
   • 10. NPA provisioning is not applicable to Banking Company
2. Q2 (A) From the following information prepare Profit and Loss Account in the books of SBI Limited for the year ended 31 March, 2023. (15) Interest on Bank Overdraft | Interest on Recurring Deposit | 20,000 Interest on Cash Credit 1,00,000 | Interest on other deposits 30,000 Interest on balances with other banks’ 2,00,000 5,000 Interest on other loans given 1,00,000 |.Commission and brokerage 10,000 Interest on Fixed Deposit 50,000. | Dividend received Interest on Saving Deposit 75,000 Interest on Current Deposit 25,000 | Printing and stationery 20,000 | Discount on bills discounted Office expenses Rebate on bills discounted 10,000 Profit and Loss Account Credit 50,000 | Office rent 5,000 Provision for doubtful debt is Rs. 10000
   • 2. Provision for taxation is Rs. 15000
3. Q2 (B).From the following information prepare Balance sheet in the books of BOI Limited as on 31 March, 2023. (15) 20,000 | Loan from RBI 1,00,000 Profit and loss account Cr. 25,000 |-Outstanding expenses 20,000 50,000 | Cash in hand 25,000 Balances with other banks 30,000 with-RBI 20,000 “| Money-at short notice and discounted The authorized capital-of the bank consists of 50000 Equity shares of Rs. 10 each
4. Q3 (A) Calculate net premium earned as on 31/03/2023 from the following. Premium on direct business o/s on 01/04/2022 Rs. 22,000 Premium on direct business o/s on 31/03/2023 Rs. 40,000 Premium on reinsurance ceded o/s on 01/04/2022 Rs. 11,000 Premium on reinsurance ceded o/s on 31/03/2023 Rs. 14,000 Premium on reinsurance accepted o/s on 01/04/2022 Rs. 38,000 Premium on reinsurance accepted o/s on 31/03/2023 Rs. 34,000 8 marks
5. Q3 (B). Prepare Revenue Account in the books of GIC for Fire Business for the
6. Q3 (C) From the following balances as on 31/03/2022; prepare Revenue account for the Marine business of Mangalya Company Ltd. (15)
   • (1)Received 2,30,000 36,000
   • (2)Receivable On Ist April,2021 9,500 12,500
   • (2)Receivable On31st March, 2022 | 13,000 12,750
   • (4)Payable On Ist April,2021 14,000
   • (4)Payable On Ist April,2021
   • (B)Claims
   • (2)Payable On Ist April,2021 6,250 1,500
   • (3)Received
   • (D)Other Expenses and Income
   • (b)Rent and Rates 20,000
   • (d)Stationery
   • (e)Dividend and Interest Received 60,000
   • (f) Commission Received a
   • (g)Legal Expenses 9,000 (hyBalance of Fund on 01/04/2021
7. Q4 (A) The Trial Balance of Bharat Ltd. shows the following figures relating to Fixed Assets as on 3 1-3-2021: Goodwill (at Cost) Rs 15,00,000 On Plant &Machinery Rs. 5,00,000 Further particulars are available: 8 marks
   • (a) Depreciation to be provided during the year at 10% on Straight Line Method
   • (b) There was an addition to Machinery of Rs 100000 on 01-10-2020 and Furniture of Rs
   • (c) Prepare the schedule of Fixed Assets
8. Q4 (B) Sarkar Ltd. furnishes the following summarized Information. Reserves and surplus The Directors declared dividends of Rs 20 lakhs after Balance sheet date Prepare Balance Sheet as at 31-3-2021 as Per Revised Schedule III 7 marks
9. Q4 (C) From the following Balance Sheets of ZEE Ltd , prepare cash flow statement as per AS —3 Provision for 1,00,000 1,00,000 | Cash 20,000 6000 15 marks
   • (a) Depreciation was provided on Plant and Land and Buildings and equipment during the
   • (b) Dividend of Rs 50,000 Was paid during the year
   • (c) Machinery of Rs 50,000 and equipment of Rs 20,000 were purchased during the year
   • (d) Income tax provision of rs 1,30,000 was made for the year ended 31/3/2022
10. Q5 a) Explain whistle blowing and its benefits. 8 marks
    • b) Discuss the objective and scope of AS101? 7
11. Q5 Write short notes on: (Any 3) 15 marks
    • 1) NPA Provision
    • 2) Surrender value
    • 3) Contingent Liability
    • 4) Benefits of code of ethics
    • 5) Benefits of convergence with IFRS

Read from the scan above, so a character or two may differ. The scan is the original.