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MGT101 Current Final Term Papers Fall 2010 (11~26 Feb 2011)

Please Share Your Current Paper pattern, MCQs & subjective Questions to help each other. Thanks

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Following is information of Shumile Ltd. for the year ended December 31st, 2009.

 

Particular

Rs.

Cash in hand

160,850

Bank overdraft

72,500

Accounts payable

5,000

Plant & Machinery

171,000

Furniture

30,000

Land

100,000

Accumulated profit & Loss c/f (credit balance ) on 31st December,2006

8,000

Gross Profit on 31st December,2006

125,000

Paid up capital

150,000

Capital reserves

12,000

Authorized Capital Rs. 10/each

500,000

 

Other information:

Depreciation is charged on all Depreciable Fixed Assets @ 10%

 

Required:

Prepare the capital and liability side of balance sheet as on 31st December, 2009.

 

 

 

 You are required to calculate the Gross profit, Operating income and Net income by prepare Income statement with the help of given date for the year ended 2008.

 

Raw material Stocks 31-12-2007

Rs. 31,000

Work in process 31-12-2007

25,000

Cost of goods sold

536,339

Additional data

  • Other income for the year Rs. 5,000.
  • Other expenses for the year Rs. 15,000.
  • Selling expenses for the year Rs. 10,000
  • Administration expenses for the year Rs. 20,000
  • Sales for the year Rs. 1,000,000.

 

 

What do you know about the causes of difference between the balances as per the cash book and pass book?

 

ABC, Inc had the following positive and negative cash flows during the year.

Positive cash flows:

Received from customers

Interest and dividends

Sale of plant asset

Issued stock

 

Rs.250,000

50,000

350,000

500,000

Negative cash flows:

Paid to suppliers and employees

Purchase of investments

Purchase of treasury stock

Payment of interest

Paid cash dividends

 

130,000

40,000

35,000

20,000

50,000

 

Determine the amount of cash provided by or used for operating activities.

 

 

 

 

Pass the journal entries if:

Ø  Shares are issued against cash of Rs. 20,000.

Ø  Shares are issued against transfer of asset amounting to Rs. 30,000.

What do you know about the accounting treatment of “Salaries & Wages” and “Wages & Salaries” in the preparation of Profit & Loss Account?

 

 

Following information is extracted from books of ABC Company Ltd.

 

A company’s issued capital 

Rs. 100,000

Dividend Rate

10%

Net profit for the year

Rs.184, 000

Required:

What will be remaining amount after paying dividend? It is supposed that company paid dividend out of net profit.

 

Q:what do you know about the cash flow from investing activities...explain with the help of examples

MGT101 ALL SUBJECTIVE QUESTIONS FROM THE LATEST PAPERS FINAL TERM FENRUARY 2011

 

1: steps for the formation of a private limited company
2: there were 2 rectifying entries 3 marks
3: calculate shareholder's equity 5 marks iss ka data diya gaya tha table main uss main se calcuate krna tha
4: cash ledger bnana tha uss ka b trial balance aur kuch adjusting entries thein 5 marks
5: what happens at the admission of a partner and what are the circumstances of dissolution of partnership business
6: calculate cost of goods sold iss ka b data tha like purchases and closing stock etc.

 

1: steps for the formation of a private company
2: 2 rectifying entries
3: admission of a new partner and dissolution of partnership business
4: calculate cost of goods sold
5: calculate shareholder's equity
6: calculate financial charges and other income
7: prepare a cash ledger

1. Rectify two entries (3 marks)
2- Find out WDV from given data (3marks)
3- Find out Operating Expenses from given data
4- Difference between Debtor's turn over ratio and Creditor's turnover ration
5- Define with examples the cash flow of investing activities
6- Differeciate between
1- Carriage inwards and carriage outwards
2- Return inwards and return outwards
7- this is from past paper. calculate mark up on mr. Ali's Capital, Mark rate is 10%,
And capital are 1st july 2007 is 1500000, on 1st August 2007 is 10000 and on 1st April 2008 is 500000.

1ST PAPER
1: steps for the formation of a private limited company
2: there were 2 rectifying entries 3 marks
3: calculate shareholder's equity 5 marks iss ka data diya gaya tha table main uss main se calcuate krna tha
4: cash ledger bnana tha uss ka b trial balance aur kuch adjusting entries thein 5 marks
5: what happens at the admission of a partner and what are the circumstances of dissolution of partnership business
6: calculate cost of goods sold iss ka b data tha like purchases and closing stock etc.
7: calculate financial charges and other income iss ka b data given tha
ap past papers ache se kar lo bht ache marks aye gein inshallah & best of luck
.............

2ND PAPER

ap past papers se kar lo sara material
mcqs past papers main se aye thay. kuch new thay
3 questions 3 marks k aur 4 questions 5 marks k thay.
1: steps for the formation of a private company
2: 2 rectifying entries
3: admission of a new partner and dissolution of partnership business
4: calculate cost of goods sold
5: calculate shareholder's equity
6: calculate financial charges and other income
7: prepare a cash ledger
last four questions ka data given tha uss main se calculate karna tha sab kuch.
and ek baat aur cash flow statements k mcqz zyada aye thay
..................

3RD PAPER

MGT101- Financial Accounting, Paper start time. 7:30 am, Date 13/02/2011
total 7 subjective question.
1. Rectify two entries (3 marks)
2- Find out WDV from given data (3marks)
3- Find out Operating Expenses from given data
4- Difference between Debtor's turn over ratio and Creditor's turnover ration
5- Define with examples the cash flow of investing activities
6- Differeciate between
1- Carriage inwards and carriage outwards
2- Return inwards and return outwards
7- this is from past paper. calculate mark up on mr. Ali's Capital, Mark rate is 10%, 
And capital are 1st july 2007 is 1500000, on 1st August 2007 is 10000 and on 1st April 2008 is 500000.

My current mgt 101 subjective paper of 15 Feb, 2011, 

 

 

 

Q1) 10 % Debentures of Rs. 80,000 are shown in trial balance. How it will be shown in financial statements (Profit & loss account and Balance sheet)? Also mention why a company issues debentures. 5 marks

 

 

Q2) Calculate the amount of Current Assets and Current Liabilities to be shown in Balance Sheet from the information given below: 5 marks

 

  • Cash at bank Rs. 10,000
  • Sundry debtors Rs. 15,000
  • Bank overdraft Rs. 5,000
  • Building Rs. 200,000
  • Accounts payable Rs. 3,000
  • Plant and Machinery Rs. 100,000
  • Capital stock Rs. 1,000,000
  • Debentures Rs. 150,000
  • Long term borrowings 250,000

 

Q 3 Umer and Usman, both of whom are CPAs, form a partnership, with Umer investing Rs.100,000 and Usman, Rs.80,000. They agree to share net income as follows:  5 MARKS

  1. Salary allowances of Rs.80,000 to Umer and Rs.50,000 to Usman.
  2. Interest allowances at 15 percent of beginning capital account balances.
  3. Any partnership earnings in excess of the amount required to cover the interest and salary allowances to be divided 60 percent to Umer and 40 percent to Usman.

The partnership net income for the first year of operations amounted to Rs.247,000 before interest and salary allowances. Show how this amount should be divided between the two partners.

 

 

Q4) Differentiate between "Advances or deposits" and  "Short term Running Finance".  3 marks

 

 

Q5)  Calculate cost of goods manufactured with the help of given data and show complete working.  3 MARKS

 

Particulars

Rs.

Total factory Cost

230,000

Opening Work in process inventory  

30,000

Closing Work in process inventory

50,000

 

 

Q6) Calculate Operating Profit from the information given below:

3 MARKS

  • Sales                                            Rs. 150,000
  • Cost of sales                                       50,000
  • Other expenses                                  15,000

                Operating expenses                10,000

MGT101- Financial Accounting, Paper start time. 7:30 am, Date 13/02/2011
total 7 subjective question.
1. Rectify two entries (3 marks)
2- Find out WDV from given data (3marks)
3- Find out Operating Expenses from given data
4- Difference between Debtor's turn over ratio and Creditor's turnover ration
5- Define with examples the cash flow of investing activities
6- Differeciate between
1- Carriage inwards and carriage outwards
2- Return inwards and return outwards
7- this is from past paper. calculate mark up on mr. Ali's Capital, Mark rate is 10%,
And capital are 1st july 2007 is 1500000, on 1st August 2007 is 10000 and on 1st April 2008 is 500000.


Remember me in your prayers. i need it most.

Thanking you very much.
ap past papers se kar lo sara material
mcqs past papers main se aye thay. kuch new thay
3 questions 3 marks k aur 4 questions 5 marks k thay.
1: steps for the formation of a private company
2: 2 rectifying entries
3: admission of a new partner and dissolution of partnership business
4: calculate cost of goods sold
5: calculate shareholder's equity
6: calculate financial charges and other income
7: prepare a cash ledger
last four questions ka data given tha uss main se calculate karna tha sab kuch.
and ek baat aur cash flow statements k mcqz zyada aye thay

Ajj mgt 101 ka paper tha ap mcqs past papers se kro aur baki qestions bhi.there were 69 questions total.62 mcqs most of them were from past papers.and 3 questions of 3 marks and 4 questions of 5 marks aur wo b past papers main se thay.questions mein ap ko bta deti hn k konse thay.
1: steps for the formation of a private limited company
2: there were 2 rectifying entries 3 marks
3: calculate shareholder's equity 5 marks iss ka data diya gaya tha table main uss main se calcuate krna tha
4: cash ledger bnana tha uss ka b trial balance aur kuch adjusting entries thein 5 marks
5: what happens at the admission of a partner and what are the circumstances of dissolution of partnership business
6: calculate cost of goods sold iss ka b data tha like purchases and closing stock etc.
7: calculate financial charges and other income iss ka b data given tha
ap past papers ache se kar lo bht ache marks aye gein inshallah & best of luck

thank you so much for your help.

sir kindly tell me paper me pass hone k lei kitne marks ki zaroorat hogi 91 me se?

thx

Dear Friends,
my MGT101 today paper 17/02/2011.
Q1. Difference between list companies and non list companies.
Q2. What is fixed capital in partnership.
Q3. Prepare Profit and lost account from given data.
Q4. Positive and negative cash flow statement to identify activity.
Q5. Define following.
Premium shares
cash flow statement
debenture
note for account.
Q6. identify cost of good sold.
Q7. preparing control account.

mostly mcqs from cash flow statement, type of business and rectifying errors.
my MGT101 today paper 17/02/2011.
Q1. Difference between list companies and non list companies.
Q2. What is fixed capital in partnership.
Q3. Prepare Profit and lost account from given data.
Q4. Positive and negative cash flow statement to identify activity.
Q5. Define following.
Premium shares
cash flow statement
debenture
note for account.
Q6. identify cost of good sold.
Q7. preparing control account.
Q1. Difference between list companies and non list companies.
Q2. What is fixed capital in partnership.
Q3. Prepare Profit and lost account from given data.
Q4. Positive and negative cash flow statement to identify activity.
Q5. Define following.
Premium shares
cash flow statement
debenture
note for account.
Q6. identify cost of good sold.
Q7. preparing control account.

mostly mcqs from cash flow statement, type of business and rectifying errors.
my paper held on 20-Feb-11
Straight line Method of depreciation 5
Find CGS and Debenture markup 5
Match the corporation list with their accounts5
Material consumed 3
What changes made in “Statement of changes in equity” 3
Difference between Advance or deposit & Short Run Finance. 3

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