Define the terms 1. Equity Share Capital 2. Assets 3. Debtors 4. Accrual Concept 5. Marginal Costing 6. Expenditure 7. Opportunity Cost
Journalize the following transactions in the books of A Ltd: 1. Started business with stock Rs.20,000; Cash Rs.1,00,000. 2. Bought Machinery on credit Rs.25,000 from X Ltd. 3. Paid the office electricity bill online Rs.1,000. 4. From the company’s bank account paid son’s tuition fees Rs.10,000 5. Purchased goods of Rs.23,000. 6. Sold goods of Rs.1,10,000. 7. Distributed free samples of goods worth Rs.11,000.
[7 marks]Write a short note on activities covered under accounting.
[7 marks]State the difference between Financial Accounting and Cost Accounting.
[7 marks]Explain the Fixed Cost, Variable Cost, and Semi-Variable Cost with appropriate examples supported with numbers.
[7 marks]Afirm purchased certain machineries on 01/01/2009 for Rs.1,80,000 for which the cost of carriage was Rs.10,000 and the cost of installation was Rs.10,000. Depreciation on machinery is charged at 10% per annum on reducing balance method. The accounting year of the firm ends on 31st December. On 01/07/2011, one-fourth of the machinery was sold at 20% more than book value and another machine costing Rs.80,000 was purchased on the same date. On 01/01/2012, one-fourth of the machinery installed on 01/01/2009 was sold at 10% less than its depreciated value. Another machine was purchased on 01/01/2012 for Rs.1,00,000. Prepare the machinery account for four years from 2009 to 2012.
[7 marks]Write a short-note on Break-Even Analysis.
[7 marks]From the following Balance-Sheet of M/s. B Ltd. Calculate the following ratios: Liabilities Rs. Assets Rs. 10% Equity Share Capital 25,00,000 Land and Building 28,50,000 4% Preference Share Capital 6,00,000 Plant and Machinery 3,00,000 12% Debentures 1,00,000 Furniture 50,000 Creditors 50,000 Debtors 50,000 Bills Payable 80,000 Bills Receivable 40,000 Page 1 of Outstanding Salary 12,000 Stock 10,000 Bank 30,000 Pre-Paid Rent 8,000 Cash 4,000 Total 33,42,000 Total 33,42,000 1. Current Ratio 2. Liquid Ratio 3. Debtors Turnover Ratio if the Credit Sales for the year were Rs.12,00,000. 4. Average Collection Period (Assume 280 days in a year). 5. Creditors Turnover Ratio if the Credit Purchase for the year were Rs.7,50,000. 6. Average Payment Period (Assume 280 days in a year). 7. Inventory Turnover Ratio if the Cost of Goods Sold during the year were Rs.96,500.
[2 marks]Nell Farms sells a specialty maple syrup during the month of September, 2022. Prepare Inventory Valuation using FIFO and LIFO methods. Also mention the Cost of Goods Sold. Date Particulars Units Cost Per Unit (Rs.) Sep.1 Beginning Inventory 40 Sep.4 Purchase 60 13 Sep.10 Sales 65 --- Sep.15 Purchase 30 Sep.23 Purchase 45 Sep.30 Sale 50 ---
[15 marks]Write a short-note on Trend Analysis.
[7 marks]The following are the costing records of a manufacturer M/s. C Ltd. for the month of December 2020. Prepare the Cost-Sheet for the month of December 2020. Particulars Rs. Stock in hand 1st December 2020 Raw Material 25,000 Finished Goods 17,360 Stock in hand 31st December 2020 Raw Material 26,250 Finished Goods 15,750 Purchase of Raw Material 2,21,900 Work-in-Progress, 01st December 2020 8,220 Work-in-Progress, 31st December 2020 9,100 Sale of Finished Goods 2,72,310 Direct Wages 17,150 Non-Productive Wages 830 Work Expenses 8,340 Office and Administrative Expenses 3,160 Selling and Distribution Expenses 4,210
[7 marks]Write a note on Ind AS. Q .5 (a) Write a short note on Process Costing, with an appropriate example.
[7 marks]What is a Cash Flow Statement? Why is it prepared? Draw the format of the Cash Flow Statement.
[7 marks]Draw the detailed format of the Vertical Balance Sheet with the imaginary number.
[7 marks]Write a short note on Managerial Decision, with an appropriate example. Page 2 of
[2 marks]