Assignment question B.

Com (H) - II Yr Q1 Calculate (a) Value of Raw Materials consumed (b) Total cost of production (c) Cost of goods sold (d) Profit, from the following particulars: Rs. Opening Stock: Raw Material Work In progress Finished goods Closing Stock: Raw Material Work In progress Finished goods Raw material purchased Carriage Inward Direct Wages Other direct chargeable expenses Works On cost (Expenses) 60% of direct wages Office On cost 50% of work On cost Selling expenses- 80% of office On cost Sales 15, 00,000 80,000 50,000 75,000 6, 50,000 50,000 2, 00,000 25.000 1, 00,000 40,000 80,000

Q2. What is cost accounting? What are the various classification of cost?

MBA (HM) Q1. What do you mean by Accounting Principles? Explain accounting concepts and accounting conventions with suitable examples. Q2. Prepare the trading, Profit & loss A/c & Balance Sheet from the following information as at 31st March 2011: Trial Balance Particulars Capital / Drawings Cash in hand Bank Overdraft @ 5% Purchases/ sales Returns Establishment charges Taxes & insurance Provision for doubtful debts Bad Debts Sundry Debtors & creditors Commission Investment Stock as on 1st April 2009 Furniture Bills receivable &bills Payables Collected sales tax Totals Dr (Rs) 1400 1500 -------12000 1000 2500 500 -------500 5000 -------4000 3000 600 3000 -------35000 Cr (Rs) 10000 -------2000 15000 2000 --------------1000 -------1850 500 ---------------------2500 150 35000

Additional Information: Salary Rs 100 & taxes Rs 400 are outstanding but insurance Rs 50 was prepaid

Commission amounting to Rs 100 has been received n advance for the work to be done next year. Interest accrued on investment Rs 210 Provision for doubtful debts is to be maintained @ 20% Depreciation on furniture is to be charged @10% p.a Stock on 31st march 2010 was valued at Rs 4500 A fire occurred on 25th march 2011 in the godown & stock of the value of Rs 1000 was destroyed. It was fully insured & the insurance company admitted the claim in full.

Q3. What Adjustment entries are required to be made at the time of preparing final accounts? Give illustrative example of any five such adjustment entries.