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Friends, lets share your current final term paper being held from 01 March to 12 March 2014, so that others can have a guideline to prepare well.

Thanks



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Reply by hina khan 51 minutes agoDelete

My today's paper is

Ist)Difference between cash and equivalent  to cash?

2)Difference between deferred expenses and prepaid expenses

3)opening raw material find krna tha

4)define investing cashflow activies with example and what u r utilize

5)value of share find krni agr premuim per issue krn to?

6)value of premium find krni thi

7)bad dedts ki treatment btani thi profit and loss account me or blance sheet me.

8)opening finished good find krni thi ye wala bhol gya shd yehi tha



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53) How can we define cash flow statement write down the name any two components? (3)

54) Calculate the value of selling expenses and administrative expenses? Data is also given. (3)

55) Calculate the Net profit ratio & creditor’s turnover ratio values are given? (3)

56) Define Selling expenses & three examples? (3)

57) Define Income, Expense, Net profit & Liability? (5)

58) Calculate the Accumulated depreciation and WDV of machinery? Given data... (5)

59) Assume that a company repays Rs.300,000 loan taken from the bank and then late in the same year company borrows Rs.500,000. How will these items be treated current year’s statement of cash flows.(5)

60)  Forgotten.




53) How can we define cash flow statement write down the name any two components? (3)

54) Calculate the value of selling expenses and administrative expenses? Data is also given. (3)

55) Calculate the Net profit ratio & creditor’s turnover ratio values are given? (3)

56) Define Selling expenses & three examples? (3)

57) Define Income, Expense, Net profit & Liability? (5)

58) Calculate the Accumulated depreciation and WDV of machinery? Given data... (5)

59) Assume that a company repays Rs.300,000 loan taken from the bank and then late in the same year company borrows Rs.500,000. How will these items be treated current year’s statement of cash flows.(5)

60)  Forgotten.



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VU Today's Final Term Paper For Fall 2013
Total Questions = 60 of Total 86 Marks
Total MCQ = 40 Each of 1 marks
Total Short Questions = 3 Each of 3 marks
Total Long Questions = 5 Each of 5 marks
Which factor influence on the public agencies?5

Question No: 53      ( Marks: 3 )

 

 

Why an organization is needed to prepare a cash flow statement.

 

 

Question No: 54      ( Marks: 3 )

 

 

Calculate Net Profit from the information given below:

 

  • Sales                                            Rs. 350,000
  • Gross profit                                        150,000
  • Financial expenses                           20,000
  • Operating expenses                          10,000

 

 

Question No: 55      ( Marks: 3 )

 

 

Accounting record of a partnership business having two partners “X” and “Y” shows that distributable profit for the year is Rs. 250,000, salaries of partner – “X” and “Y” are Rs. 10,000 Rs. 20,000 respectively. Profit and loss distribution ratio among “X” and “Y” is 2:3 respectively.

 

Required:

Calculate the profit share of partners “X” and “Y”.

 

 

Question No: 56      ( Marks: 5 )

 

 

What is bank overdraft? Mention an example for this. Why companies have to pay mark up on it. Under which head mark up paid on overdraft is shown in financial statement. 

 

 

 

 

Question No: 57      ( Marks: 5 )

 

 

Define cash flow from operating activities with some examples.

 

 

 

Question No: 58      ( Marks: 5 )

 

 

Mr.Shahbaz bought the desired machine on 1st January, 2010 for Rs. 65,000 and the erection charges associated to erect the units are Rs. 5,000. The machine was depreciated @ 10% per annum at end of each year on the original cost basis. On 1st July, 2011, a single unit which cost Rs. 10,000 originally was sold for a cash price of Rs. 7,000. Calculate the depreciation expense for the year 2010 and 2011.

Question No: 59      ( Marks: 5 )

 

 

Following information is available for ABC Co. Ltd on 31st December, 2010:

  • Wages of Rs. 40,000 earned by the employees but not paid till the end December, 2010.
  • Rent due was Rs. 10,000 out of which Rs. 2,000 is paid at the end of December, 2010
  • The accounts are closed at the end of December each year.

Required:

Pass necessary journal entries in the books of ABC Co. Ltd on December, 2010

 

Question No: 60      ( Marks: 5 )

 

 

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

 

Particulars

Rs.

Capital balance at the start of the year

35,000

Capital balance at the end of the year

37,500

Withdrawals

?

Profit for the period

5,000

 

Required:

Calculate the amount of Withdrawals for the year with the help of capital account.

 

                                                 Capital Account of Mr.Shahbaz

Date

Particulars

Debit Amount

              Rs.

Credit Amount

              Rs.

Balance Amount

Rs.

 

 

Capital balance in the beginning of year

Profit

Capital balance at the end of year

35,000

 

5000

 

 

 

 

 

 

37,500

 

 

Balance 2500

35,000

 

40000

2500

 

 

40,000

40,000

 

So Withdrawls during years are Rs.2500

Question No: 1      ( Marks: 1 ) - Please choose one

 

 

Obligations to pay cash or un-earned incomes by the business are the:

 

 

       ► Expenses

 

       ► Assets

 

       ► Liabilities

 

       ► Equities



 

Question No: 2      ( Marks: 1 ) - Please choose one

 

 

Which one of the following is NOT true about revenue expenditure?

 

 

       ► These are the running expenses of the business

 

       ► They improve the financial position of the business

 

       ► They reduce the profit of the concern

 

       ► They do not appear in the balance sheet



 

Question No: 3      ( Marks: 1 ) - Please choose one

 

 

Which of the following assets are shown at written down value in balance sheet?

 

 

       ► Current assets

 

       ► Liquid assets

 

       ► Floating assets

 

       ► Fixed assets



 

Question No: 4      ( Marks: 1 ) - Please choose one

 

 

Which one of the following is NOT true about revaluation of fixed assets?

 

 

       ► Revaluation should be made after regular intervals

 

       ► Change in value should be permanent

 

       ► Only relevant asset should be revalued in the whole class of asset

 

       ► The profit or loss will be transferred to revaluation account



 

Question No: 5      ( Marks: 1 ) - Please choose one

 

 

If the provision for doubtful debts is not created, which of the following entry is passed to record the bad debts in control account?

 

       ► Debtors Control A/c (Dr) and Allowance for doubtful debts (Cr)

 

       ► Bade debts (Dr) and Debtors Control A/c (Cr)

 

       ► Allowance for doubtful debts (Dr) and Debtors Control A/c (Cr)

 

       ► Allowance for doubtful debts (Dr) and Debtors A/c (Cr)



 

Question No: 6      ( Marks: 1 ) - Please choose one

 

 

Which of the following entry will be passed to record discount received in control account?

 

 

       ► Discount Received (Dr) and Creditors Control A/c (Cr)

 

       ► Discount Received (Dr) and Creditors A/c (Cr)

 

       ► Creditors Control A/c (Dr) and Discount Received (Cr)

 

       ► Creditors A/c (Dr) and Discount Received (Cr)



 

Question No: 7      ( Marks: 1 ) - Please choose one

 

 

Consider the following data and identify the amount which will be deducted from Sundry Debtors in Balance Sheet.                               

Particulars

Rs.

Bad debts (from trial balance)

1,600

Provision for doubtful debts (old)

2,000

Current year’s provision (new)

1,000

 

 

       ► Rs. 600

 

       ► Rs. 1,000

 

       ► Rs. 2,000

 

       ► Rs. 2,600



 

Question No: 8      ( Marks: 1 ) - Please choose one

 

 

Which of the following statement is TRUE about the Accounts receivable?

 

       ► Accounts receivable arises when a company buys goods or services from another party on credit

 

       ► Accounts receivable is a miscellaneous category that may include loans to employees

 

       ► Accounts receivable are more formal than notes receivable

 

       ► Accounts receivable are often called trade receivables



 

Question No: 9      ( Marks: 1 ) - Please choose one

 

 

A, B, C are partners. Their profit sharing ratio is equal. Capital balance on July 1st of Partner A --- Rs. 40,000 Partner B --- Rs. 30,000 and Partner C--- Rs. 20,000.Their private property of Partner A is Rs.15,000, Partner B is Rs. 7,000 and Partner C is Rs. 1,500. What is the level of their liabilities under the partnership firm?

 

       ► Partner A—Rs. 40,000, Partner B---- Rs. 30,000, Partner C – 20,000

 

       ► Partner A—Rs. 40,000, Partner B---- Rs. 30,000, Partner C – 21,500

 

       ► Partner A—Rs. 40,000, Partner B---- Rs. 37,000, Partner C – 20,000

 

       ► Partner A—Rs. 55,000, Partner B---- Rs. 37,000, Partner C – 21,500



 

Question No: 10      ( Marks: 1 ) - Please choose one

 

 

Particulars

Rs.

Share capital of Rs. 10 each

1,000,000 

Profit before tax

150,000 

Taxes

10,000

Earning per share

= ?

 

 

       ► Rs. 1.50 per share

 

       ► Rs. 1.40 per share

 

       ► Rs. 1.15 per share

 

       ► Rs. 1.25 per share



 

Question No: 11      ( Marks: 1 ) - Please choose one

 

 

If one partner receives a salary which is credited to him at the end of the year, the share of profit available for distribution will be:

 

 

       ► Increased

 

       ► Decreased

 

       ► Unchanged

 

       ► Changed and become negative



 

Question No: 12      ( Marks: 1 ) - Please choose one

 

 

If the Capitals of partners are fixed then, at the end of financial year a partner’s drawings are transferred to the:

 

 

       ► Credit side of the partner’s capital account

 

       ► Credit side of the partner’s current account

 

       ► Debit side of partnership bank account

 

       ► Debit side of the partner’s current account



 

Question No: 13      ( Marks: 1 ) - Please choose one

 

 

Payment is made of a company’s purchases on credit, which of the following is correct:

 

       ► Debit stock account and credit creditors account

 

       ► Debit creditors account and credit cash account

 

       ► Debit cash account and credit creditors account

 

       ► Debit stock account and credit cash account



 

Question No: 14      ( Marks: 1 ) - Please choose one

 

 

ABC company makes payment of Rs.50,000 to Mr. Ali Zafar, who is a debtor, is wrongly recorded in the account of Zafar Ali. The error is classified as:

 

       ► Error of commission

 

       ► Error of omission

 

       ► Error of original entry

 

       ► Error of principle



 

Question No: 15      ( Marks: 1 ) - Please choose one

 

 

Which of the following is NOT a financial statement?

 

       ► Balance sheet

 

       ► Audit report

 

       ► Income statement

 

       ► Cash flow statement



 

Question No: 16      ( Marks: 1 ) - Please choose one

 

 

Mr. A & B entered into a partnership with an equal share in profit or loss. The agreement provides that Mr. A will receive Rs.10,000 and Mr. B will receive Rs.8,000 as salary allowance. The net income for the year is Rs.85,000. What will be the total share of Mr. B?

 

       ► Rs.52,500

 

       ► Rs.42,500

 

       ► Rs.41,500

 

       ► Rs.50,500



 

Question No: 17      ( Marks: 1 ) - Please choose one

 

 

Short term investments in marketable securities and treasury bills that will mature within ninety days from the date of acquisition, must be classified as:

 

       ► Receivables

 

       ► Receipts from Capital

 

       ► Current and intangible assets

 

       ► Cash equivalents



 

Question No: 18      ( Marks: 1 ) - Please choose one

 

 

Which of the following is an example of liability in a business enterprise?

 

       ► Accounts payable

 

       ► Accounts receivable

 

       ► Commission received

 

       ► Commission paid



 

Question No: 19      ( Marks: 1 ) - Please choose one

 

 

The assets which have a limited useful life are termed as:

 

       ► Limited assets

 

       ► Depreciable assets

 

       ► Unlimited assets

 

       ► None of the given options



 

Question No: 20      ( Marks: 1 ) - Please choose one

 

 

What is the treatment of Accumulated Depreciation in accounting?

 

       ► Charged to profit and loss account

 

       ► Written in balance sheet under the head of current assets

 

       ► Written in balance sheet under the head of liabilities

 

       ► Written in balance sheet as a reduction in relevant fixed asset



 

Question No: 21      ( Marks: 1 ) - Please choose one

 

 

Particulars

Rs.

Opening written down value of machine

375,000

Cost of machine bought during the year

50,000

Depreciation during the year

11,000

Written down value of the Machine at the year end

?

 

 

       ► Rs. 414,000

 

       ► Rs. 425,000

 

       ► Rs. 386,000

 

       ► Rs. 61,000



 

Question No: 22      ( Marks: 1 ) - Please choose one

 

 

In which of the following case(s) a bank can refuse the payment?

 

       ► Stale cheque

 

       ► Insolvency of the customer

 

       ► Post dated cheque

 

       ► All of the given options



 

Question No: 23      ( Marks: 1 ) - Please choose one

 

 

Control accounts are based on:

 

       ► Double entry book keeping system

 

       ► Single entry book keeping system

 

       ► Cash accounting system

 

       ► All of the given options



 

Question No: 24      ( Marks: 1 ) - Please choose one

 

 

Prepayments would be treated as:

 

       ► Non current asset

 

       ► Current asset

 

       ► Intangible asset

 

       ► Deferred expense



 

Question No: 25      ( Marks: 1 ) - Please choose one

 

 

In balance sheet, liabilities are categorized as current and

 

       ► Outstanding

 

       ► Unearned

 

       ► Long-term

 

       ► Accrued



 

Question No: 26      ( Marks: 1 ) - Please choose one

 

 

Which of the following is the direct cost of manufacturing the goods that were sold by the entity during the reporting period?

 

       ► Cost of Goods Sold

 

       ► Revenue

 

       ► Asset

 

       ► Liability



 

Question No: 27      ( Marks: 1 ) - Please choose one

 

 

The statement of changes in equity basically shows the movement of:

 

       ► Share capital during the year

 

       ► General reserves during the year

 

       ► Share premium during the year

 

       ► All of the given options



 

Question No: 28      ( Marks: 1 ) - Please choose one

 

 

Which of the following is TRUE?

 

       ► Sale of equipment for cash is considered as inflow of cash

 

       ► Sale of equipment on account is considered as inflow of cash

 

       ► Purchases of equipment for cash is considered as inflow of cash

 

       ► Sale of equipment for cash is considered as outflow of cash



 

Question No: 29      ( Marks: 1 ) - Please choose one

 

 

Which of the following is TRUE with respect to the application of Cash Flow Statement?

 

       ► Purchase of equipment for cash is considered as inflow of cash

 

       ► Purchase of equipment on account is considered as outflow of cash

 

       ► Sale of equipment on credit is considered as outflow of cash

 

       ► Purchase of equipment for cash is considered as outflow of cash



 

Question No: 30      ( Marks: 1 ) - Please choose one

 

 

Which of the following is the new name of Sources and Application of Funds?

 

       ► Income Statement

 

       ► Cash Flow Statement

 

       ► Statement of Changes in Owners Equity

 

       ► Balance Sheet



 

Question No: 31      ( Marks: 1 ) - Please choose one

 

 

Which of the following is an example of cash outflow for a company?

 

       ► Writing off an uncollectible accounts receivable

 

       ► Reclassifying accounts payable to notes payable

 

       ► Cash collected from customers

 

       ► Cash paid for merchandise inventory



 

Question No: 32      ( Marks: 1 ) - Please choose one

 

 

Which of the following shows sources from which business generated cash and its application?

 

       ► Income Statement

 

       ► Cash Flow Statement

 

       ► Statement of Changes in Owners Equity

 

       ► Balance Sheet



 

Question No: 33      ( Marks: 1 ) - Please choose one

 

 

If assets are held for trading purposes or in normal course of business e.g. car / property dealers and loans given by banks, then cash flows from them are included in which of the following activities?

 

       ► Cash flow from operating activities

 

       ► Cash flow from investing activities

 

       ► Cash flow from financing activities

 

       ► It is a non cash flow activity



 

Question No: 34      ( Marks: 1 ) - Please choose one

 

 

A company issues a long-term notes payable for the amount of Rs. 18,500. When preparing the cash flow statement, this amount would:

 

       ► Be considered to be a use of cash in future accounting periods

 

       ► Not be considered to be a cash item as no cash has been paid out in this transaction

 

       ► Be considered to be an investing activity

 

       ► Be considered to be a source (or inflow) of cash



 

Question No: 35      ( Marks: 1 ) - Please choose one

 

 

Which of the following would be a suitable head for short term advances from customers in Balance Sheet?

 

       ► Current asset

 

       ► Intangible asset

 

       ► Tangible asset

 

       ► Current liability



 

Question No: 36      ( Marks: 1 ) - Please choose one

 

 

To make the results favourable, the businessman needs to:

 

       ► prepare his budget.

 

       ► control deviations from the budgets.

 

       ► compare actual results with the budget.

 

       ► all of the given options.



 

Question No: 37      ( Marks: 1 ) - Please choose one

 

 

Mr. ABC has recently hired a professional accountant, because he:

 

       ► wants to learn accounting tactics used by the accountants.

 

       ► needs to have correct financial information at the time of need.

 

       ► likes the accounting profession.

 

       ► wants more profits in the business.



 

Question No: 38      ( Marks: 1 ) - Please choose one

 

 

If Mr. ABC purchased Car Rs. 250,000; Furniture Rs. 25,000 and Office Equipment Rs. 5,000 for cash. Then he should credit Cash account by:

 

 

       ► Rs. 250,000

 

       ► Rs. 25,000

 

       ► Rs. 5,000

 

       ► Rs. 280,000



 

Question No: 39      ( Marks: 1 ) - Please choose one

 

 

Which of the following account would be credited, when amount of Rs. 5,000 were paid to factory workers?

 

       ► Labour/Wages

 

       ► Cash

 

       ► Work In Process

 

       ► Factory overhead cost



 

Question No: 40      ( Marks: 1 ) - Please choose one

 

 

An estimate of the income and expenses needed to carry out business plans for a fiscal year is known as:

 

       ► Budget

 

       ► Cost

 

       ► Management

 

       ► Audit



 

Question No: 41      ( Marks: 1 ) - Please choose one

 

 

Which of the following account would be credited if fixed assets are purchased and payment is made through cheque?

 

       ► Bank

 

       ► Fixed assets

 

       ► Cash

 

       ► Accounts payable



 

Question No: 42      ( Marks: 1 ) - Please choose one

 

 

Which of the following account would be credited when there is a transaction for advances given to staff by T ltd. amounting to Rs. 2,000?

 

       ► Other receivables Rs. 2,000

 

       ► Cash Rs. 2,000

 

       ► Trade creditors Rs. 2,000

 

       ► Trade debtors Rs. 2,000



 

Question No: 43      ( Marks: 1 ) - Please choose one

 

 

Which of the following account would be credited when rent expenses of Rs. 1,000 incurred but not yet paid till the end of accounting period?

 

       ► Cash Rs. 1,000

 

       ► Rent expense Rs. 1,000

 

       ► Accrued rent Rs. 1,000

 

       ► Prepaid rent Rs. 1,000



 

Question No: 44      ( Marks: 1 ) - Please choose one

 

 

Being an accountant you are asked to enter the discount received of Rs. 1,000 in control account. The entry should be made on the:

 

       ► Debit side of creditors control account

 

       ► Credit side of creditors control account

 

       ► Debit side of debtors control account

 

       ► Credit side of debtors control account



 

Question No: 45      ( Marks: 1 ) - Please choose one

 

 

Which of the following has been debited in wrong recorded entry if the book-keeper discovers the error “Wages paid to the firm’s workmen for making certain additions to plant and machinery amounting to Rs. 5,000 was charged to Wages Account”?

 

       ► Plant and Machinery Account Rs. 5,000

 

       ► Wages Account Rs. 5,000

 

       ► Cash Account Rs. 5,000

 

       ► Sundry Debtors Account Rs. 5,000



 

Question No: 46      ( Marks: 1 ) - Please choose one

 

 

Purchases return day book undercast by Rs. 5,000. The rectification of this entry will:

 

       ► Increase net profit by Rs. 5,000

 

       ► Decrease net profit by Rs. 5,000

 

       ► Increase assets by Rs. 5,000

 

       ► Decrease assets by Rs. 5,000



 

Question No: 47      ( Marks: 1 ) - Please choose one

 

 

Which of the following would be credited in rectified entry if the book-keeper has discovered the error “The purchase of office furniture costing Rs, 6,000 has been passed through the Purchases Day Book”?

 

       ► Purchase Account Rs. 6,000

 

       ► Office Furniture Account Rs. 6,000

 

       ► Cash Account Rs. 6,000

 

       ► Sundry Creditors Account Rs. 6,000



 

Question No: 48      ( Marks: 1 ) - Please choose one

 

 

If, cost of machinery is Rs. 200,000, opening balance of accumulated depreciation is Rs. 40,000 and depreciation is charged @ 10% per annum on fixed installment basis. What would be the deprecation expense for the year?

 

       ► Rs. 20,000

 

       ► Rs. 16,000

 

       ► Rs. 60,000

 

       ► Rs. 140,000



 

Question No: 49      ( Marks: 1 ) - Please choose one

 

 

Suppose that stock in hand Rs. 10,000; accounts receivable Rs. 20,000; prepaid insurance Rs. 5,000: accounts payable Rs. 2,000; and accrued expenses Rs. 1,000. Which of the following would be the amount of current assets?

 

       ► Rs. 30,000

 

       ► Rs. 35,000

 

       ► Rs. 32,000

 

       ► Rs. 3,000



 

Question No: 50      ( Marks: 1 ) - Please choose one

 

 

Accounting record of a partnership business having two partners “A” and “B” shows that opening balance of A’s current account is Rs. 20,000, salary of partner – “A” is Rs. 17,000, and closing balance of A’s current account is Rs. 30,000. Which of the following is amount of loss shared by “A” in partnership firm?

 

       ► Rs. 7,000

 

       ► Rs. 10,000

 

       ► Rs. 13,000

 

       ► Rs. 3,000



 

Question No: 51      ( Marks: 1 ) - Please choose one

 

 

Accounting record of a partnership business having two partners “A” and “B” shows that opening and closing balance of A’s current account is Rs. 55,000 and Rs. 45,000 respectively, mark up on capital of partner – “A” is Rs. ?  , and loss suffered by “A” is Rs. 15,000. Which of the following is the mark up on capital of partner – “A” in the partnership firm?

 

       ► Rs. 10,000

 

       ► Rs. 40,000

 

       ► Rs. 30,000

 

       ► Rs. 5,000



 

Question No: 52      ( Marks: 1 ) - Please choose one

 

 

Which of the following is NOT true about Double Entry System?

 

       ► Both credit and debit transactions are recorded

 

       ► Accurate profit and loss is calculated

 

       ► It does not follow the principles of dual aspect concept of accounting

 

       ► Complete record of a transaction is maintained

1 march to 5th march 2014 mgt 101 papers


Current Final Term Paper For Fall 2013
Total Questions in Final Term Paper = 60 
Total Marks in Final Term Paper = 86
Total MCQ in Final Term Paper = 40 Each of 1 marks
Total Short Questions in Final Term Paper = 3 Each of 3 marks
Total Long Questions in Final Term Paper = 5 Each of 5 marks
Subjective questions: 8
almost all mcqs were from past papers 2009 2010 2008
question 1 calculate current account of mr A
opening current account of A 4000
salary of A 3000
drawng of MR A 2000
distribution of loss A 5000
Question no 2 calculate material consumed data no rember
Question no 3 third question is bank reconcilation statement related
Question no 4 calculate fixed assets of total 
building 2000
inventory 3000
furniture 12000
cash in hand 3000
debitors 4000
mechinery 3000
Question no 5 
calculate openging stock is mising 
closing stock is 400000
sales is 600000
gross profit 25% of sales
cost of goods sold is 19000000
Question no 6
capital expenditurs related



Total No. of Questions = 60.

52) MCQ’s (Each carrying 1Mark) 90% from past paper .

53) How can we define cash flow statement write down the name any two components? (3)

54) Calculate the value of selling expenses and administrative expenses? Data is also given. (3)

55) Calculate the Net profit ratio & creditor’s turnover ratio values are given? (3)

56) Define Selling expenses & three examples? (3)

57) Define Income, Expense, Net profit & Liability? (5)

58) Calculate the Accumulated depreciation and WDV of machinery? Given data... (5)

59) Assume that a company repays Rs.300,000 loan taken from the bank and then late in the same year company borrows Rs.500,000. How will these items be treated current year’s statement of cash flows.(5)



RE: Mgt101 Paper 01 March 2014 
Final Term Paper For Fall 2013
Total Questions = 60 of Total 86 Marks
Total MCQ = 40 Each of 1 marks
Total Short Questions = 3 Each of 3 marks
Total Long Questions = 5 Each of 5 marks
Which factor influence on the public agencies?5

Question No : 53 ( Marks: 3 )
Why an organization is needed to prepare a cash flow statement?


Question No : 54 ( Marks: 3 )
Calculate Net Profit from the information given below:
Sales Rs. 350,000
Gross profit 150,000
Financial expenses 20,000
Operating expenses 10,000

Question No : 55 ( Marks: 3 )
Accounting record of a partnership business having two partners “X” and “Y” shows that distributable profit for the year is Rs. 250,000, salaries of partner – “X” and “Y” are Rs. 10,000 Rs. 20,000 respectively. Profit and loss distribution ratio among “X” and “Y” is 2:3 respectively

Required:

Calculate the profit share of partners “X” and “Y”

Question No : 56 ( Marks: 5 )
What is bank overdraft? Mention an example for this. Why companies have to pay mark up on it. Under which head mark up paid on overdraft is shown in financial statement. 

Question No : 57 ( Marks: 5 )
Define cash flow from operating activities with some examples.

Question No : 58 ( Marks: 5 )
Mr.Shahbaz bought the desired machine on 1st January, 2010 for Rs. 65,000 and the erection charges associated to erect the units are Rs. 5,000. The machine was depreciated @ 10% per annum at end of each year on the original cost basis. On 1st July, 2011, a single unit which cost Rs. 10,000 originally was sold for a cash price of Rs. 7,000. Calculate the depreciation expense for the year 2010 and 2011.

Question No : 59 ( Marks: 5 )
Following information is available for ABC Co. Ltd on 31st December, 2010:

Wages of Rs. 40,000 earned by the employees but not paid till the end December, 2010.
Rent due was Rs. 10,000 out of which Rs. 2,000 is paid at the end of December, 2010
The accounts are closed at the end of December each year.
Required:

Pass necessary journal entries in the books of ABC Co. Ltd on December, 2010 



mytoday papers march 5 2014
total qsn 60 
0% from past papers 
papers 25% from midtrm and 75 finltrm portion
mostly mcqz comes form 
cashflow deprication 
provision baddebts
redtifying error
short qsn 
curent a/c patner ship
data was given 


share premium
75000 at 10% for 6 month
3750
acred for 6 month remaining
total markup


markup on debenture
400000 at 10 1march 2003 and 100000 at 12 per share find share primum on 100000
1april 2003 


deprication with strigh line method
dep 30000 cast RV 3000 AND 7000 2 YEAR ki find krni thi
bank reconcilation statement 
unfavourabl balnce of pas book 40000
uncretited cheques 10000 
2000 not collected form 10000


cost of good sold
sales gp 20% of sales opning purchases inward was given find cgs and closing

cash flow and cash equilevent?

My today paper

40 Mcqs
subjective question
1.debtor control account bnana tha
2.calculate administrative and selling expense
3.identify errors
4.journal entry bnani thi capital Mr A, MR B ki.
5.define equity

Thanx

qurat-ul-ain fatima  thanks for sharing 

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