Today Final Term Paper Fall 2012 On 26 Feb 2013
Total Questions: 60
Total MCQs: 52 (Each of 1 Mark)
Total Short Questions: 3 (Each of 3 Mark)
Total Long Questions: 5 (Each of 5 Mark)
Q53: What types of changes are made in "statement of changes in equity?
Required:
Q57: From the following particulars of Shahbaz & Company, prepare a Bank Reconciliation Statement as on 31st December 2010.
ط Favorable balance as per the Pass Book Rs. 80,000.
ط Transport subsidiary of Rs. 20,000 received from State Government directly by the bank but not advised to the company.
ط Unfavorable balance as per the Cash Book Rs. 50,000.
ط A cheque from Mr. Farhan for Rs. 4,000 was deposited in the bank on 26th December, 2010 but was dishonoured and the advice was received on 2nd January, 2011.
Required:
Required:
Prepare Partners current accounts of “A” and “B” based on the above information.
Total Questions: 60
Total MCQs: 52 (Each of 1 Mark)
Total Short Questions: 3 (Each of 3 Mark)
Total Long Questions: 5 (Each of 5 Mark)
Q53: What types of changes are made in "statement of changes in equity?
: Q54: Mr. A and Mr. B work together in a partnership firm. Mr. A withdraws Rs. 15,000 from the business for his private use. Being an accountant pass a journal entry in the books of accounts to record drawings of Mr. A in case of fixed capital account.
Q55:The business of Arslan brother has the following information:- Depreciation expense of office furniture Rs. 100,000
- Salaries and wages Rs. 150,000
- Transportation outwards Rs. 15,000
- Advertising expenses Rs. 25,000
Required:
Calculate the value of “Selling expenses” and “Administrative expenses
Q56: Classify the followings whether these Entries are Operating, Investing or Financing activity by filling the appropriate boxes given below.S. No. | ENTRIES | CLASSIFICATION |
0 | Dividends | Financing activity |
1 | Change in Long term debts | ? |
2 | Change in Deferred income tax | ? |
3 | Change in Common stock | ? |
4 | Proceed from sale of Machinery | ? |
5 | Gain from sale of Machinery | ? |
ط Favorable balance as per the Pass Book Rs. 80,000.
ط Transport subsidiary of Rs. 20,000 received from State Government directly by the bank but not advised to the company.
Amount of Rs. 10,000 wrongly debited to company account by the bank for which no details are available.
Q58: From the following particulars of Shahbaz & Company, prepare a Bank Reconciliation Statement as on 31st December 2010.ط Unfavorable balance as per the Cash Book Rs. 50,000.
ط A cheque from Mr. Farhan for Rs. 4,000 was deposited in the bank on 26th December, 2010 but was dishonoured and the advice was received on 2nd January, 2011.
One of the debtors deposited a sum of Rs. 5,000 in the bank account of the firm on 20thDecember, 2010 but the intimation in this respect was received from bank on 2nd January, 2011.
Q59: Following information is available of a sole trader Mr. Shahbaz.Particulars | Rs. |
| Capital balance at the start of the year | 17,000 |
| Capital balance at the end of the year | 18,000 |
| Withdrawals | 2,000 |
| Profit for the period | ? |
Required:
Calculate the amount of Profit for the period with the help of capital account.
Q60: Following is the information of “A” and “B” of their partnership business.- Opening balance of A’s current account and B’s current account Rs. 10,000 and Rs. 20,000 respectively
- Loss shared by “A” and “B” Rs. 1,000 and Rs. 2,000 respectively
- Drawings of “A” and “B” Rs. 3,000 and Rs. 4,000 respectively
Required:
Prepare Partners current accounts of “A” and “B” based on the above information.
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