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JANAK COLLEGE Additional information:-

Internal Examination – 2075 - Closing inventory is Rs. 60,000


Level: BBS 1st year Time: 1.5 Hour Full Marks: 50 - Depreciation 10% on Machinery and 15% on Furniture
Sub: Accounting for Financial analysis and planning Pass Marks: 18 - O/S salary is Rs 12,000 and Prepaid wages is 15,000
Required :- Work sheet statement
Brief answer questions: (5 x 2 = 10)
8. Lumbini Pvt. Ltd. provides income statement for the year ending 2006 is as follows:
Attempt ALL Questions:
1. State the importance of financial statements.
Particulars Amount Amount
2. What are the characteristics of Public limited company?
3. If Variable cost is 50% of Sales ,Fixed cost is Rs.1,50,000 and DOL is 4 times, Sales 4,00,000
Calculate Sales revenue of the company. Less: Cost of goods sold:
4. Calculate COSA from given information: Opening stock 30,000
Stock as on 1-1 Rs.20,000 Add: Purchase 2,00,000
Stock as on 31-12 Rs.30,000 Less: Closing stock (50,000) 1,80,000
Index at beginning of the year 50 and at the end of the year 100.
5. Calculate liquid ratio from given information, Gross profit 2,20,000
Total current assets Rs.2,00,000 (including inventory Rs.50,000) Less: Operating expenses 80,000
Current liabilities for the period Rs.1,00,000 Depreciation 20,000
Interest 10,000 1,10,000
Short answer questions: (9 x 3 = 27)
6. XYZ Ltd. Company with a paid up capital of 3,000 ‘A’ Equity shares of Rs.100 each Net profit before tax 1,10,000
but Rs.80 called and paid up went into voluntary liquidation. The company also had 1,000 , Less: Tax 20,000
10% Preference shares of Rs.100 each and 2,000 , 8% Debentures of Rs.100 each. Less: Dividend paid 30,000
The total creditors of the company including Rs.25,000 for Preferential creditors,
Rs.1,20,000 Secured creditors was Rs.2,50,000. The assets of the company realized for Retained earning 60,000
Rs.520,000. The liquidator was entitled to a commission of 2% on assets realized and 3% Add: Opening Retained earning 15,000
on amount distributed to unsecured creditors. There was Preference dividend in arrear for
one years and Liquidation expenses Rs.15,000. Closing Retained earning 75,000
Required: Liquidator’s final statement of account Additional information:
-COSA Rs.3,000
7. Trial balance of a company is given below : -Depreciation adjustment Rs.10,000
-Monetary working capital adjustment Rs.7,000
Particulars Dr. Particulars Cr. -Gearing ratio 20%
-Increased value in fixed assets Rs.4,000
Bank 70,000 Sales 6,50,000
-Increased value in inventory Rs.2,000
Cash 25,000 Share capital 5,00,000
Machinery 4,00,000 8% debenture 1,50,000 Required: (a) Current cost accounting reserve (b)CC income statement
Furniture 1,87,000 Creditors 1,10,000
Purchase 4,25,000
Debtors 1,50,000
Salaries 5,00,00
Wages 60,000
Discount 15,000
Interest 12,000
Electricity charge 16,000
Comprehensive Questions: (13 x 1 = 13)

9. The following balance sheet is taken from the books of H. Company and S. Company:
Balance sheet as on 31 Chaitra 2072

Capital & Liabilities H. com. S.com. Assets H.com. S.com.


Equity share capital 1,00,000 80,000 Fixed assets 1,00,000 90,000
General reserve 50,000 40,000 Debtors 40,000 20,000
P&L account 20,000 1,70,000 Investment 1,00,000 1,30,000
Creditors 1,00,000 50,000 Inventory 50,000 80,000
Bank loan 30,000 - Cash balance 10,000 20,000

3,00,000 3,40,000 3,00,000 3,40,000

- H. company invested Rs.1,00,000 for 75% shares in S. company on 1st Kartik 2072.
-On beginning of the year S. company’s General reserve had Rs.40,000 and P&L account
had credit balance of Rs.50,000.
-Creditors of S. company includes Rs.10,000 for goods supplied by H.company.
-50% of goods supplied by H.Com. are still in stock of S.Com. on which company made
profit 20% on sales.
Required: Capital profit, Revenue profit, Cost of control, Minority interest, B/S