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FIN621 Mid Term Papers Fall 2010 ( 01~12 December 2010 ) All in One Discussion


Please Share Your current papers & Pattern to help each other in this Discussion.


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1.Which one of the cash flow and income statement is best tool for measuring the profitability of a sound business? Marks 3


2.If the company issues stocks or bonds to pay debts, would u include it in the cash flow statement? Marks 3


3.Calculate the cash flow from operating activities from the given data..( data has forgotton) marks 5


4.Haris is trading In cranes. He has one crane which original cost is rs.60000, the accumulated depreciation is rs.48000, He purchase a new crane which cost is Rs. 75000 and he was given a trade allowance of rs.15000.

a) how much cash Haris will pay? Marks 2

b) what would be the gain or loss if the first crane is disposed off? Marks.3
Total quizs=32
MCQs =28
1 Question = 2 numbers
2 Questions =3 numbers
1 Questions = 5 numbers
Question:

* Calculate the cash flow from operations, (5 Marks)
* Calculate Depreciation using Straight line Method if Cost =100000, Residual Value is= 10000,Estimated Life = 5 years, (3 Marks)
* Calculate Depreciation using Declining Balance method till 2003 from 1999. if Cost =100000, Residual Value is= 10000,Estimated Life = 5 years is purchased on march 29, 1999. (3 Marks)
it is to inform finance students that
MCQs were arbitrarily asked but for the question of marks 3 and 5 , please please do concentrate on last three lessons regarding depriciation.
Remember me in your prayers. keep doing hard work for your exams
good luck :)
Dated: December 2, 2010

Total Question: 32
MCQs: 28 each of 1 mark
Descriptive: 4



Question # 29 (3 marks)
Assume that net income was Rs. 200,000, depreciation expense was Rs. 10,000, accounts receivable increased by Rs. 15,000, and accounts payable increased by Rs. 5,000. Calculate the cash flow from operating activities.



Question # 30 (3 marks)
Explain how the adoptions of FIFO method rather than LIFO will tend to raise or lower the quality of a company’s earnings? Assume the continuance of the inflation.



Question # 31 (5 marks)
Can a company get a positive cash flow from operating activities even if the company has net loss during the period? Explain with the help of example


Question # 32 (5 marks)

I don't remember the data

It was inventory valuation question.


Requirement:

1) Calculate cost of goods sold

2) Ending Inventory
question#1 (3)

A company acquired land by issueing 500,000 of capital stock.what will the transaction be disclosed in the company statenment of cash flows,if yes in which section.


question#2 (3)
A accountant of the large corporation said the company computes depreciation(i 4get not sure question)
question#3(5)
Patterson Company reported net income for the current year of Rs. 666,000. During the year the company’s accounts receivable increased by Rs. 50,000, inventory decreased by Rs. 23,000, accounts payable decreased by Rs. 55,000, pre-paid expenses increased by Rs. 35,000, and accrued expenses payable increased by Rs. 14,000. Determine the amount of cash provided by or used for operating activities by the indirect method.
question#4

On 15, 2001, ABC Company sold 1,000 printers to another company. Immediately prior to this sale, the perpetual inventory records of the company for the printers included the following cost layers.


Purchase date
Quantity
Unit Cost
Total Cost
Dec. 12, 2000
600
Rs. 9.25
Rs. 5,550
Jan. 9, 2001
900
Rs. 9.50
8,550
Total on hand
1,500

Rs. 14,100
Today FIN621 Mid Term Paper Fall 2010
See the attached file pls
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