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# MGT101 Current Mid Term Papers Fall 2012 18-Dec-2012 to 19-Dec-2012

MGT101 Current Mid Term Papers Fall 2012 18-Dec-2012 to 19-Dec-2012

Current Mid Term Papers Fall 2012 18-Dec-2012 to 19-Dec-2012

Current Mid Term Papers Fall 2012 Papers, Dec 2012, Solved Final Term Papers, Solved Papers, Solved Past Papers, Solved MCQs

Current Mid Term Papers Fall 2012 18-Dec-2012 to 19-Dec-2012

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Please Share your Current Papers Questions/Pattern here to help each other. Thanks

MGT101 - Today Paper [08-DEC-2012]

Total MCQ = 22 (1 Marks each)
Total Short Questions = 4 (3 Marks each)
Total Long Questions = 1 (5 Marks each)

- A Creditors Ledger showing Debit side total Rs.45,000, and Cedit side total Rs.40,000.... explain the, can this be possible, why or why not ? (3 marks)

- Some narration were given, we have to explain, which of them will be ADDED BACK or DEDUCTED from pass book. (3 marks)

- Pass the double entries: (3 marks)
1) Issued Direct Material to the production area
2) some material got back to to stock from factory area.

- Preparation of Balance Sheet. (3 marks)

- Depreciation Charge Calculation (5 marks)

------ That's all, what I remember !!!!

Shared by Mohsin

MGT101 Financial Accounting All Midterm !00% Correct Solved Paper

Attachments:

MY TODAY MGT101 MIDTERM PAPER

22 MCQs and 5 Descriptive questions.

1. The 'Accounts Payable' book of a business organization showed total debit entries amount to Rs. 45,000 and total credit entries amounted to Rs. 40,000. thus showed a net debit balance of Rs. 5,000. Is it a true balance? Why or Why not? (3 Marks)

2. business unit doing the business of furniture purchased of rs. 20,000. for the purpose of sale. should we record such purchases in the furniture account? explain the fact (3 Marks)

3. Calculate rate of depreciation used for reducing balance method (3 marks)

cost of asset Rs. 200,000

RV = Rs. 80,000

Expected life = 4 years

4. Opening stock of Raw Material is Rs. 60,000

Purchace of Raw Material is Rs. 40,000

cost of material charged to production is Rs. 90,000

Prepare Raw Material account with the help of data given above ? ( 5 Marks)

5. Cost of motor car on 1st Jan, 2009 Rs. 200,000

useful life = 5 years

Accounting period is closed on 31st december

using diminshing balance method on the basis of use, calculate the depreciation and WDV of motor for the year 2009 and 2010? (5 Marks)

Imran Ahmed Malik Thanks for sharing ur paper

Note for All Members: You don’t need to go any other site for current Mid Term papers fall 2012, Because All discussed data/sharing of our members in this discussion are going from here to other sites. You can judge this at other sites yourself. So don’t waste your precious time with different links.

The following are some of the causes of difference between the Cash Book and the Pass Book balances found on 31st December, 2010. If you start with the Cash Book debit balance in preparing a Bank Reconciliation Statement as on 31stDecember, 2010, will you add them or deduct? 3

 Particulars Add/Less Credit side of cash book was overstated ? The bank charges paid recorded twice in cash book ? A receipt of dividend recorded twice in cash book ?

Differentiate the following: 3

v  Current Liability

Long term Liability

What is the importance of "NARRATION" in Journal Entry? 3

From the following data prove that Assets = Liabilities + Capital ( 5)

Ø  Cash in hand                       Rs.38,000

Ø  Cash at bank                        Rs.95,000

Ø  Purchases                             Rs.105,000

Ø  Outstanding expenses       Rs.12,000

Ø  Net profit                                Rs.58,000

Ø  Sales                                      Rs.67,000

Ø  Furniture & fixture               Rs.55,000

Ø  Loan from bank                    Rs.28,000

Equity                                     Rs.90,000

• Original cost of fixed asset Rs. 1,000,000
• Accumulated Depreciation Rs. 400,000
• Revalued amount of fixed asset Rs. 500,000

Required:

Calculate the Written down value and Loss on revaluation of fixed asset (5)

today at 11 am was my paper, it was too much easy all mcqs were from past papers and material provided by Mr. Tariq Malik and Miss Taurus was very handy during paper (thanx alot u both). below mentioned are questions from my paper:

purchase handling cost to be calculated -- 3 marks

there were some errors to be rectified into cash account -- 3 marks

cash account and pass account entries were to be rectified (add or less) -- 3 marks

gross profit were to be calculated from given equation -- 5 marks

Asif Iqbal thanks for sharing your paper to help other.

Note @ All: You don’t need to go any other site for current Mid Term papers fall 2012, Because All discussed data of our members in this discussion are going from here to other sites. You can judge this at other sites yourself. So don’t waste your precious time with different links.

thank you sir, you are such a great person and this forum is great too because of this we all students are be able to streamline our difficulties of our studies. live long u both :-)

Welcome

MGT101 Today Paper

Total MCQ = 22    (Each of 1 Marks)

Total Short Questions = 3 (Each of 3 Marks)

Total Long Questions = 3 (Each of 5 Marks)

Purchase handling cost to be calculated -- 3 marks

There were some errors to be rectified into cash account -- 3 marks

Cash account and pass account entries were to be rectified (add or less) -- 3 marks

Gross profit were to be calculated from given equation -- 5 marks

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