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Bachelor of Commerce (B.Com.) FY BCom Sem 1 Bcom Sem 1 2011 to 2014 Oct 2014 Accountancy Fin Mgmt Question Paper - Mumbai University | munotes

Bcom Sem 1 2011 To 2014 Question Paper, Oct 2014.pdf
FY BCOM · 1 May 2025

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Questions asked in this paper

  1. Q1 B) state whether true or false (Any 7)
    • 1. Carriage outward should be allocated among the departments in the ratio of sales
    • 2. Manufacturing account gives us cost of production 7 The cost of goods distributed as free samples should be credited to profit and loss Cash price does not’ include interest:
    • 5. Trading account is prepared to calculate Net Profit or Net Loss all enterprise departmental e
    • 6. AS-1 is not necessary for palance sheet
    • 7. Departmental are shown on the asset
    • 8. Outstanding nature AS is mandatory under te
    • 10. AS is man prepare d the following Trading and Profit &
  2. Q2 Akbarali Departmental the year ended To Opening stock 5,000 _ Dept: X 9,07,800 g and Profit & Loss a/ t after considering the following data: March
    • a) Rent/ Taxes to be allocated in the rati ratio of area occupied whi to be charged equally. pied which was 1:2:1 respectively Z, his salary be allocated equally between Dep The other works in Dept X and
    • d) per month. and Dept Z. salary of each salesman is ratio of sales of th pt those mentioned in item (a) to (c) ab respective departments, ove, be allocated in the e Trading and profit & Particulars: nt and general profit and loss
    • 1. There was no opening stock The floor space occupied by the two departments equally
    • 3. The motor van expenses are to be divided between departments A and B in the ratio 3:1 4, The Insurance premium is on a comprehensive polices and cannot be allocated
  3. Q3 A) from the following information of PQR item value closing stock on 31-03-2014 : weighted Average to PQR. (07)
    • ii) on 21-03-2014 6,000 @ Rs. 18
    • i) on 06-03-2014 7,500
    • ii) on 15-03-2014 6,000
    • iii) on 18-03-2014
    • 3. B) A Ltd purchases car on Hire purchase basis from S Itd. On 01/01/02 for He paid Rs. 20,000 on signing the contract and two yearly installment of each plus interest on December every year. The cash price of the car was Rs. 2,10,000. S Itd charged interest @ 10% p.a. Depreciation @ 20% p.a. on W.D.V is charged on car Pass necessary Journal entries in the books of A Ltd for two years. (08)
  4. Q3 a) From the following infor Stocks (Kgs) on 12-2000
    • 12.600 units @ Rs. 13
    • 1) On 18-12-2006 11.400 units @
    • ii) On 23-12-2006
    • i) On 7-12-2006
    • ii) On 16-12-2006 7,800
    • iii) On 19-12-2006
    • iv) On 30-12-2006 10,200 units
  5. Q3 b) A Itd purchases car on Hire purchase basis from of Rs.1,20,000 He paid Rs. 40,000 on signing the contract and four half year sh price of the car wa plus interest each on 30" June & 31" December every year. The ca Pass necessary Journal entries in the books of S Ltd for two years
  6. Q4 The Trial Balance of Mrs. Madhuri as on 31" December, 2013 was as follows: Work in | Bills payable 25,500 Finished | Sales of 4,500 Carriage Inward 3,000 | Provision for doubtful 4,800 Repair of ae Cash at Bank for December, 2013 was Rs.6,000 was paid in January 2014 Were Ras. where as insurance was prepaid Rs.1500 the and rent isto be charged to office premises and the 15 marks
    • 6) be written machinery at 10% p.a. and on furniture at 5% p.a
    • 1) foe be maintained at 10% You ave required (o prepare Manufieturing account, trading account and profit and loss for (he your ended and balance sheet as on that date the of Smith Enterprises, prepare Manufacturing loss account for the year ended December, 2013 and Sheet that diate, (15) Cash in 4,000 | Loan Cash at ‘Reserves for Bad Lepal charges for 10,000 acquisition of buildings Work-in-progress (1-1- 1,50,000 12-2013 Stocks were valued as : Raw Material Rs. 1,00,000, Wort, I Pro RS 1.60,000 and Finished Goods Rs Stock of Stationary on hand Rs. 20%
    • d) Depreciate: Plant & Machinery at 10% and p entitled for a commission of 5% on net profit before charging
    • f) Increase Reserve for Bad debts by Rs.6,000
    • 2) Interest on loan of Rs. 2,000 is still unpaid
  7. Q5 Determine whether the following are capital or revenue — receipts or expenditure give reasons for the same: I, Repayment of loan taken earlier
    • 2. Commission received on sales
    • 3. Amount paid to obtain a license
    • 4. Premium Rs. 25,000 on issue of new shares
    • 5. Expenditure incurred in preparing project report
    • 6. Old motor car sold for Rs. 50,000
    • 7. Cost of replacement of defective part of Machinery ‘ d
  8. Q5 Short Notes:
    • 3. AS-2
    • 4. Manufacturing Account
    • 5. Capital Expenditure

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