MGT101 All Current Final Term Papers Fall 2012 (20 February to 03 March 2013) at one Place

From 20 February to 03 March 2013 Fall 2012

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I want to share my today mgt101 paper ...

subjective questions :

1 - what is ledger balance ? differentiate between the debit balance and the credit balance (5 marks )

2- what do you know about the nominal capital of company ? (3marks )

3-what type of changes you have to made " statement changes in equity "?(3marks )

4- from the following info of some ABC company find out the opening balance : (5marks )

-closing balance is RS50,000/-

-profit spread over the year is RS5,000/-

-dividend paid is RS10,000/- 

Hope so it will help you ...

Total Questions: 60

Total MCQs: 52 (Each of 1 Mark)

Total Short Questions: 3 (Each of 3 Mark)

Total Long Questions: 5 (Each of 5 Mark)

  Q53: What types of changes are made in "statement of changes in equity?

 : Q54: Mr. A and Mr. B work together in a partnership firm. Mr. A withdraws Rs. 15,000 from the business for his private use. Being an accountant pass a journal entry in the books of accounts to record drawings of Mr. A in case of fixed capital account.

Q55:The business of Arslan brother has the following information:

  • Depreciation expense of office furniture Rs. 100,000
  • Salaries and wages Rs. 150,000
  • Transportation outwards Rs. 15,000
  • Advertising expenses Rs. 25,000

 

Required:

Calculate the value of “Selling expenses” and “Administrative expenses

    Q56: Classify the followings whether these Entries are Operating, Investing or Financing activity by filling the appropriate boxes given below.

 

 

S.   No.

 

ENTRIES

 

 

CLASSIFICATION

 

0

 

Dividends

 

 

Financing   activity

 

1

 

Change in Long term debts

 

 

?

 

2

 

Change in Deferred income tax

 

 

?

 

3

 

Change in Common stock

 

 

?

 

4

 

Proceed from sale of Machinery

 

 

?

 

5

 

Gain from sale of Machinery

 

 

?

 

Q57: From the following particulars of Shahbaz & Company, prepare a Bank Reconciliation Statement as on 31st December 2010.

ط  Favorable balance as per the Pass Book Rs. 80,000.

ط  Transport subsidiary of Rs. 20,000 received from State Government directly by the bank but not advised to the company.

Amount of Rs. 10,000 wrongly debited to company account by the bank for which no details are available.

Q58: From the following particulars of Shahbaz & Company, prepare a Bank Reconciliation Statement as on 31st December 2010.

ط  Unfavorable balance as per the Cash Book Rs. 50,000.

ط  A cheque from Mr. Farhan for Rs. 4,000 was deposited in the bank on 26th December, 2010 but was dishonoured and the advice was received on 2nd January, 2011.

One of the debtors deposited a sum of Rs. 5,000 in the bank account of the firm on 20thDecember, 2010 but the intimation in this respect was received from bank on 2nd January, 2011.

Q59: Following information is available of a sole trader Mr. Shahbaz.

 

Particulars

Rs.

Capital balance at   the start of the year

17,000

Capital balance at   the end of the year

18,000

Withdrawals

2,000

Profit for the   period

?

 

Required:

Calculate the amount of Profit for the period with the help of capital account.

Q60: Following is the information of “A” and “B” of their partnership business.

  • Opening balance of A’s current account and B’s current account Rs. 10,000 and Rs. 20,000 respectively
  • Loss shared by “A” and “B” Rs. 1,000 and Rs. 2,000 respectively
  • Drawings of “A” and “B” Rs. 3,000 and Rs. 4,000 respectively

 

Required:

Prepare Partners current accounts of “A” and “B” based on the above information.

 first paper.mgtttttttttt 25-2-2013

many questions from past papers.total q 60

mcqs   52 and marks52     short q  2  marks(6)     long q  5  marks (25)

difference b/w advance and short term finance.

accounting system of financial trancation

find working capital

find gross profit

find operating income

find operating expences and etcccccccccccc

Total Questions: 60

Total Marks: 86

Total MCQs: 52 (Each of 1 Mark)

Total Short Questions: 3 (Each of 3 Mark)

Total Long Questions: 5 (Each of 5 Mark)

Question 1:
Particulars Rs.
Raw Material - Opening Stock 10,000
Raw Material – Purchases 2,000
Raw Material - Closing Stock 3,000
Packing Material - Opening Stock 4,000
Packing Material – Purchases 5,000
Packing Material - Closing Stock 6,000
Based on the above information you are required to calculate the following:
· Cost of Raw Material Consumed
· Cost of Packing Material Consumed

Question 2:
10 % Debentures of Rs. 80,000 are shown in trial balance. How it will
be shown in financial statements? Also mention why a company issues
debentures.

Question 3:
Steps of formation of Private Company

Question 4:
Financial year decided by partnership agreement is 1st July to 30th June. Mr. Ali is partner and having a
capital of Rs. 1,500,000 on July 1st 2007 and he introduced more capital on August 1st 2007 Rs. 10,000
on April 1st 2008, Rs.500,000 and on June 1st 2008 , Rs. 5,000. Mark up rate is 10% p.a.
Calculate mark up on Mr. Ali’s capital for the year ending on 30th June 2008.

Question No:5
Calculate Cost of good sold by given data.

Question No:6
Find depreciation expense and written down value by straight line method

Q. 55: what will be the net income ? (3)

Retained earning ( beginning)                1,000

     Dividend paid                                      6,000

     Retained earning (end)                       25,000

Q. 56:credit purchase of Rs.1,000 omitted by mistake .credit sale of Rs. 5,000 is also omitted pass the necessary entries. (3)

Q. 57: Drawings made by partner .excess drawn amount is returned by partner. Profit distribution among partners if the capital of partners are fixed pass journal entries. (3)       

Q. 58: Following information is available of Shahbaz & company:

Particulars                                                                               Rs.

Operating Expense                                                                  4,000

Financial Expense                                                                   2,000

Gross Income                                                                          20,000

Return Inwards                                                                       1,000

Cost of Goods Sold                                                                4,000

Income Tax 10%                                                                         ?

Calculate the amount of operating income and net income. (5)

 

Q. 59: Mr. Shah brought machine on 1st jan 2010 for Rs. 70,000 and eraction charges associated to each unit are Rs. 5,000. The machine was depreciated @ 10% per annum at the end of each year on the original cost basis. On Oct 2010 a single unit which cost Rs. 10,000 originally was sold for a cash Rs. 9,750. Calculate gain/loss of machine sold. (5)

 

Q. 60: Opening balance of A & B of their partnership respectively Rs. 15,000 and Rs. 25,000. Loss shared Rs. 5,000 and Rs. 8,000 respectively. Salaries “A” Rs. 2,000 and “B” Rs. 3,000. Prepare a current account of A & B. (5)

Total Questions: 60

Total Marks: 86

Total MCQs: 52 (Each of 1 Mark)

Total Short Questions: 3 (Each of 3 Mark)

Total Long Questions: 5 (Each of 5 Mark)

Most of the mcqs were from past papers. 

q1. What is the difference between  creditor turnover ratio and debtor turnover ratio?  3 marks

Q2. Write the advantage of trial balance? 5 marks 

Q3. Current account of partner A? 5 marks (values yad nai hai)

Q4. purchase account and creditors control account of Mr A (20000) Mr B (30000)  Mr. c (50000) total 100000? 5 marks

long questions nahi the 2 questiad nai aa rhe lekin wo bhi aik 3 marks ka aur aik 5 marks ka tha.ons y



total question 60

50 mcq

remaining 3 0r 5 marks questions

Q=1find the investment

fixed assets 509650

current liability 62250

investment?

owners capital 470250

long term debt 160700

current assets 855oo

Q=2

find the operational expense and factory over head cost ?

plant and mach.100000

office equipment 200,000

rent 100,000

insurence 20,000

advertisement 3000

additional information

80% of rent charge to factory

dep.on plant and machinery 20% on cost

question =3

 from partnership find profit and loss?

question =4

rectifying the entry?

question =5

tell about the he given data whether financing , operational or  investing?

question=6

prepare current account of A and and B?

MGT101 All Current Final Term Papers 20 February to 03 March 2013

MGT101 All Current Final Term Papers 20 February to 03 March 2013


Subject Questions : 
1. Cash flow statement and its components
2. Diff between Cash and Cash equal
3. Straight Line and WDV calculations
4. Accounts Payable account by given data
5. Profit Distribution Account with complete working by given data
6. Current Ratio and Working Capital calculations by given data
7. Accumulated Profit accounts calculation by given data


MGT101 Financial Accounting
Today Final Term Paper Fall 2012
On 20 Feb 2013
Total Questions: 60
Total Marks: 78
Total MCQs: 54 (Each of 1 Mark)
Total Short Questions: 3 (Each of 3 Mark)
Total Long Questions: 3 (Each of 5 Mark)
Most of the mcqs were from past papers. 
q1. What is the difference between creditor turnover ratio and debtor turnover ratio? 3 marks
Q2. Write the advantage of trial balance? 5 marks 
Q3. Current account of partner A? 5 marks (values yad nai hai)
Q4. purchase account and creditors control account of Mr A (20000) Mr B (30000) Mr. c (50000) total 100000? 5 marks
long questions nahi the 2 questiad nai aa rhe lekin wo bhi aik 3 marks ka aur aik 5 marks ka tha.ons y


MGT101 Financial Accounting

Today Final Term Paper Fall 2012
On 20 Feb 2013

Total Questions: 60

Total Marks: 78

Total MCQs: 54 (Each of 1 Mark)

Total Short Questions: 3 (Each of 3 Mark)

Total Long Questions: 3 (Each of 5 Mark)


Q. 55: what will be the net income ? (3)
Retained earning ( beginning) 1,000
Dividend paid 6,000
Retained earning (end) 25,000
Q. 56:credit purchase of Rs.1,000 omitted by mistake .credit sale of Rs. 5,000 is also omitted pass the necessary entries. (3)
Q. 57: Drawings made by partner .excess drawn amount is returned by partner. Profit distribution among partners if the capital of partners are fixed pass journal entries. (3) 




Q. 58: Following information is available of Shahbaz & company:
Particulars Rs.
Operating Expense 4,000
Financial Expense 2,000
Gross Income 20,000
Return Inwards 1,000
Cost of Goods Sold 4,000
Income Tax 10% ?
Calculate the amount of operating income and net income. (5)

Q. 59: Mr. Shah brought machine on 1st jan 2010 for Rs. 70,000 and eraction charges associated to each unit are Rs. 5,000. The machine was depreciated @ 10% per annum at the end of each year on the original cost basis. On Oct 2010 a single unit which cost Rs. 10,000 originally was sold for a cash Rs. 9,750. Calculate gain/loss of machine sold. (5)

Q. 60: Opening balance of A & B of their partnership respectively Rs. 15,000 and Rs. 25,000. Loss shared Rs. 5,000 and Rs. 8,000 respectively. Salaries “A” Rs. 2,000 and “B” Rs. 3,000. Prepare a current account of A & B. (5)
the amount of operating expense?( 5 marks)
wages,bad debt,office salary,factory salary,carriage out.
5 Statemnets were given, we have to choose wheather they are investing, operating or financing (5marks)
this quesion was also from past papers.

Today Final Term Paper Fall 2012
On 21 Feb 2013
Total Questions: 60
Total Marks: 86
Total MCQs: 52 (Each of 1 Mark)
Total Short Questions: 3 (Each of 3 Mark)
Total Long Questions: 5 (Each of 5 Mark)
Question 1:
Particulars Rs.
Raw Material - Opening Stock 10,000
Raw Material – Purchases 2,000
Raw Material - Closing Stock 3,000
Packing Material - Opening Stock 4,000
Packing Material – Purchases 5,000
Packing Material - Closing Stock 6,000
Based on the above information you are required to calculate the following:
· Cost of Raw Material Consumed
· Cost of Packing Material Consumed

Question 2:
10 % Debentures of Rs. 80,000 are shown in trial balance. How it will
be shown in financial statements? Also mention why a company issues
debentures.

Question 3:
Steps of formation of Private Company

Question 4:
Financial year decided by partnership agreement is 1st July to 30th June. Mr. Ali is partner and having a
capital of Rs. 1,500,000 on July 1st 2007 and he introduced more capital on August 1st 2007 Rs. 10,000
on April 1st 2008, Rs.500,000 and on June 1st 2008 , Rs. 5,000. Mark up rate is 10% p.a.
Calculate mark up on Mr. Ali’s capital for the year ending on 30th June 2008.

Question No:5
Calculate Cost of good sold by given data.

Question No:6
Find depreciation expense and written down value by straight line method
__________________

(Date: 22/2/2013)
1. (3)
If the capitals of the partners are fixed, Pass Journal Entries for the following:
Drawings made by partner
Excess drawn amount is returned by partner
Profit distribution among partner
2. (3)
Write down the components of Cash Flow Statement
3. (3)
Following information is available of ABC Company limited at the end of a particular accounting period:
Opening balance of accumulated profit Rs. 80,000
Closing balance of accumulated profit Rs. 50,000
Amount transferred to reserves Rs. 10,000
Required:
Calculate the amount of current year profit or loss from the given information.
4. (5)
For the year ended December 31, 2007. ABC Company reported a Net Income of Rs. 84,000. The opening and closing balances of company’s Current assets and Current liabilities were as follow:
December 31 
Current Assets: 2007 2006
Rs. Rs. 
Cash 60,000 80,000
Accounts receivable 250,000 190,000 
Inventory 437,000 360,000
Current liabilities:
Accounts payable 420,000 390,000
Accrued liabilities 8,000 12,000
Required:
Determine the cash provided by Operating activities for the year if the depreciation charges were Rs. 50,000 during the year.
5. (5)
You are given the following data relating to a public limited company:
Gross profit, Rs. 125,000; Indirect expenses, Rs. 80,000; other income, Rs. 5,000; and net profit Rs. 35,000.
Required: Calculate interest expense of the company.
6. (5)
Following is the Sales Return Journal of T. Company ltd.

Date
Credit note
Name of Debtors
Rs.
10-12-2010
1
Mr. A
10,000
20-12-2010
2
Mr. B
20,000
31-12-2010
3
Mr. C
30,000


Total
60,000

Required:
Prepare Sales return account and Debtors control account for T. Company ltd.
6. (5)
Following information is available of Shabaz & Co.

Particulars
Rs.
Insurance expenses
1,000
Audit fee
2,000
Legal charges
3,000
Gross Profit
20,000
Return inwards
1,000
Cost of goods sold
4,000
Bank charges
500
Required:
Calculate the amount of Operating income and Net income
7. (5)
Following is the information of “A” and “B” of their partnership business.
Opening balance of A’s current account and B’s current account Rs. 15,000 and Rs. 25,000 respectively
Profit distributed to “A” and “B” Rs. 5,000 and Rs. 8,000 respectively
Salaries of “A” and “B” Rs. 2,000 and Rs. 3,000 respectively

Required:
Prepare Partners current accounts of “A” and “B” based on the above information.
__________________

My MGT101 paper:
Total marks: 86
Total Q's: 60
Total mcq's: 52 (some were from past papers, and rest based on basic concepts of accounting)
Subjective Qs:
define profit and loss appropriation account in case of partnership(3 marks)
calculation of working capital, (current liabilities and current assets were to be calculated with the help of components given) (3 marks)
calculation of direct and indirect expenses(data was given) (3 marks)
calculation of depreciation, using straight line method (5 marks)
3 partners share profit in ratio of1:3:5, record journal entries, show complete working (5 marks)
data was given, work out cost of raw material consumed and cost of packing material consumed (5 marks)
a case was given, journal entries were to be recorded (5 marks)
calculation of depreciation using wdv method (5 marks)

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