BCom In Accounting & Finance (BCAF) SEM I 2016 2017 Feb 2017 FYBAF ATKT EXAM SEM I FIN.ACC Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q8 Depreciation on Plant & Machinery H. Opening Statements of
2. Q9 Inventory Valuation accepted J. Disclosure of accounting policy
3. Q2 From the following particular, prepare stock ledger by FIFO and Weighted Average ‘Stock in hand on 1* May 2015 was 50 units @ Rs. 12 each. (15) sm the following information of XYZ Itd. prepare stock ledger by FIFO and Weighted Ay mu following trial balance of ABC Itd. Prepare manufacturing account, trading ccoun for the year ended 31 December, 2014. And balance sheet as on that date Cash at bank 17300 | Reserve for Bad 30007 Extension to Building 10000 Legal Charges for acquisition Purchases of Raw Material 50000 Work-in-progress 4) 37500 On December 2014 the stock were valued as: Raw Material Rs. 25000
4. Q2 Outstanding — Advertisement Rs. 250 and Printing Rs. 150
5. Q3 Stock of stationary on hand Rs, 500 on 31" December 2014
6. Q4 Depreciate plant & Machinery @ 10% and Patents @ 20%
7. Q5 Manager is entitled for a commission of 5% on net profit before charging his commission,
8. Q6 Increase Reserve for Bad Debts by Rs. 1500
9. Q7 Interest on loan of Rs. 500 is still unpaid. 15 marks
10. Q3 From the following tria! balance of infotek Prepare manufacturing account, trading accour and loss account for the year ended 31* December, 2014. And balance sheet as on that date, Land & Building 120000 | Reserve for debt 5500 Trade marks 9000 | Return outwards 6500 Salary to Manager 16000 Purchase of Raw Material 150000 Work-in-progress 60000 Factory rent and rates 15000
11. Q1 On December 2012 stocks were valued as: Raw material Ps. 55000, Work-in-progress Rs. 75000
12. Q4 Manager is entitled for a commission of 2% on net profit before charging his commission Increase reserve for bad debts by Rs. 5000
13. Q6 Interest on loan is still unpaid Rs. 1200
14. Q8 Write off Trade Marks @ % p.a. ay
15. Q4 Shlok keeps his books by single entry. On 1* January, 2015 his capital was Rs. 69000. An cash book for the vear gives the following particulars Received from sundry debtors | Due to Bank (Jan 1) Paid on capital account 5000 | Payment to creditors 25000 Balance at bank 4000 = Balance in hand 100 am the above materia! prepare a profit & loss account for the year ended 31 December 2015 and as on that date, after providing 5% interest on capital. (Ignore additional capital), 10% depreciat id 5% depreciation on furniture. Reserve on is 5%, (15) Anjali ltd. accounts on 30" June each year. On 30" September fire destroyed the Following information is collected from their books of Gross Profit to Cost is 33.1/3 %. Stock of value Rs. 35000 was salvaged. Policy an ‘Wes 125000. Following further information is available: Ls the beginning was calculated at 10% less than cost 2 Pu include Purchase of Plant Rs. 25000
16. Q3 Ph in August and paid installation charges Rs. 1250 which was included in wages the amount of Claim. (is) ‘Whether the following statements are capital, revenue expenditure or income. (15) duty on Raw Material Purchased old type writer costing Rs. 10000 for Rs. 5000 allowed to Debtors of a defective part of the machinery for installation of new machinery Rs. 5000 Loan taken from ICICI Bank 10, Payment of Electricity bill Write Short Notes. (Any 3) (
17. Q1 Accounting standard issued by ICAI
18. Q2 Characteristics of Capital Expenditure
19. Q4 Manufacturing Account
20. Q5 Characteristics of Revenue Expenditure

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