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1 MAY 2016 Time : Three hours Maximum : 100 marks PART A (10 3 = 30 marks) Answer any TEN questions. 1. Narrate convention of conservatism. øçø ß Põm õmøh ÂÍUSP. 2. What are the four errors that cannot be identified by preparing Trial Balance? C {ø» SÔ õà Põn i õu õßs øçpò õøá? 3. What are the methods through which number of days calculated in account current? h U PnUQÀ õmpøí Põq øópò õøá? 4. State three objects of preparing Branch Account. QøÍ PnUøP u õº ö\ Põμn õp EÒÍ ßÖ õup[pøí TÖP. 5. What are the two types of repossession in Hire Purchase System? ÁõhøP öpõò uà øó À ö õ ÒPøÍ v ö ÖÁuØPõÚ Cμsk ÁøPPÒ õøá? 6. What are the primary objective of sale or return basis of accounting? ÂØ øú AÀ»x v ö ÖÁx GßÓ Ai øh PnUQß ußø õup[pò õøá? 7. Define Fund Flow Statement. {v Kmh mi ø» ÂÁ. 8. What are the two systems of wage payment? Give one example for each. CμskÁøP T¼ ÁÇ[S øópò õøá? JÆ ÁõßÖUS Euõμn öpõkupä. 9. What are called overheads? ÀÁøμa ö\»ä GßÓõÀ GßÚ? - World's number one free educational download portal

2 10. Give formula for calculation of : (a) Current ratio. (b) Debt-equity ratio. (c) Net profit ratio. RÌPshÁØøÓ PnUQh Áõ õmøh u P. (A) h \uãu (B) Phß uà \uãu (C) {Pμ C»õ \uãu. 11. Define Partnership. State one characteristics. Tmhõsø ø ÂÍUSP. J Snõv] zøu TÖP. 12. What do you mean by flexible Budget? ö QÌÄzvmh GßÓõÀ GßÚ? PART B (5 6 = 30 marks) Answer any FIVE questions. 13. Define Account Current. What are the three methods used for calculation of interest under this account? h U PnUøP ÂÁ. h U PnUQÀ Ámiø PnUQk ßÖ øópò õøá? 14. How cash flow statement differs from fund flow statement? öμõup Kmh mi ¾US {v Kmh mi ¾US EÒÍ ÁÖ õkpò õøá? 15. What are the advantages and disadvantages of Rowan incentive plan? μõáõß FUPz vmhzvß ßø PÒ ØÖ wø PÒ õøá? 16. Two components A and B are used as follows : Normal usage 50 units for week each Minimum usage 25 units for week each Maximum usage 75 units for week each Reorder quantity A 300 units, B 500 units Reorder period A 4 to 6 weeks, B 2 to 4 weeks Calculate : Reorder level, Minimum level. 2 - World's number one free educational download portal

3 A ØÖ B GßÓ Cμsk Emö õ ÒPøÍ RÌPshÁõ ß kzx mhx ö õxáõú ß õk 50 A»SPÒ JÆöÁõ Áõμ SøÓ u ß õk 25 A»SPÒ JÆöÁõ Áõμ AvP õú ß õk 75 A»SPÒ JÆöÁõ Áõμ Ö Bøn AÍÄ A 300 A»SPÒ, B 500 A»SPÒ Ö Bøn Põ» A 4 uà 6 Áõμ[PÒ, B 2 uà 4 Áõμ[PÒ Ö Bøn AÍøÁ², SøÓ u AÍøÁ² PõsP. 17. On , the Trial Balance of Somu did not agree. The difference was placed in a newly opened suspense account. Subsequently, the following errors were located: (a) (b) A credit sale for 2,000 has been passed through the purchases book. The customer s account, however, been correctly debited. Purchases book for February 2005 had been undercast by 500. Pass journal entries and prepare Suspense A/c AßÖ \õ Âß C À {ø»u SÔ \ õpâàø». ÁÖ õk AÚõ zxu PnUøP öuõh[q AvÀ GkzöuÊu mhx. Auß ßÚº RÌPsh øçpò Psk iup mhú. (A) ¹ õ 2,000 Phß ÂØ øú, öpõò uà zupzvà GÊu mhx C uõ¾ ÁõiUøP õíº PnUS \ õp ØÖ øáup mi ux. (B) μá 2005À öpõò uà J ¹. 500 SøÓ ÁõP Tmh mi ux. uà SÔ mk zupzvà väpøí öpõkzx AÚõ zxu PnUøP u õº ö\ P. 3 - World's number one free educational download portal

4 18. From the following particulars of a company, prepare current ratio and proprietary ratio. Liabilities Assets Equity shares 5,00,000 Building 6,00,000 Preference shares 2,00,000 Machinery 5,00,000 9% Debenture 4,00,000 Stock 2,40,000 Reserve 3,00,000 Debtors 2,00,000 Creditors 1,50,000 Cash 55,000 Bank O.D. 50,000 Pre-paid expenses 5,000 16,00,000 16,00,000 J {Ö zvß RÌPsh  μ[pî¼ x h \uãu ØÖ E ø õíº \uãuzøu PõsP. ö õö PÒ ¹. ö\õzxupò ¹. \õuõ [SPÒ 5,00,000 Pmih[PÒ 6,00,000 E ø [SPÒ 2,00,000 C vμ[pò 5,00,000 9% Phß zvμ[pò 4,00,000 \μus 2,40,000 Põ 3,00,000 PhÚõÎPÒ 2,00,000 PhÜ uõº 1,50,000 öμõup 55,000 Á[Q ÀÁøμ ØÖ 50,000 ßÚuõP ö\¾zu mh ö\»äpò 5,000 16,00,000 16,00, Prepare marginal cost statement from the following particulars : Variable cost : Direct materials 4,500 Direct wages 2,500 Factory O.H. 1,500 8,500 Fixed cost : Administrative expenses 1,250 Total cost 9,750 Profit 5,250 Sales 15, World's number one free educational download portal

5 RÌPsh  μ[pî¼ x AhUP Âø» mi ø» PõsP. ¹. õö ö\»äpò : μi ö õ ÒPÒ 4,500 μi T¼ 2,500 öuõèø\õø» ÀÁøμa 1,500 ö\»ä 8,500 {μ uμ ö\»ä : {ºÁõPa ö\»äpò 1,250 ö õzu Âø» 9,750 C»õ 5,250 ÂØ øú 15,000 PART C (4 10 = 40 marks) Answer any FOUR questions. All questions carry equal marks. 20. Marginal costing is a valuable aid for managerial decisions Discuss.»õsø iäpðus AhUPÂø» J v ªUP Põμo õs ÂÍUSP. 21. Enumerate the contents of Hire Purchase Agreement. What are the features of Hire Purchase? ÁõhøP öpõò uà J uzvß \μzxupò õøá? AÁØÔß ßø PøÍ TÖP. 22. Briefly explain the different types of functional budgets. ö\ À Ai øh õp EÒÍ vmh[pîß ÁøPPøÍ _ UP õp ÂÁ. 23. From the following balances prepare Trading and Profit and Loss Account : Opening stock 500 Commission (Cr.) 200 Bills receivable 2,250 Return outward 250 Purchases 19,500 Trade expenses 100 Wages 1,400 Office furniture World's number one free educational download portal

6 Insurance 500 Cash in hand 450 Sundry debtors 15,000 Cash at bank 5,375 Carriage inward 400 Rent 550 Interest on capital 350 Sales 25,000 Stationery 225 Bills payable 1,700 Return inward 650 Creditors 12,825 Commission (Dr.) 1,125 Capital 8,950 Closing stock was valued at 12,500. RÌPsh C PÎhª x  õ õμ, C»õ, mhu PnUøP u õºö\ P. ¹. ¹. öuõhup C 500 uòð i (Á) 200 ö Ó Ási õøöa ^mk 2,250 öáîzv 250 öpõò uà 19,500  õ õμa ö\»ä 100 T¼ 1,400 A¾Á»P øúzxøn ö õ ÒPÒ 500 Põ k 500 øp öμõup 450 Ø» PhÚõÎPÒ 15,000 Á[Q À öμõup 5,375 EÒ Á Ásia \zu 400 ÁõhøP 550»uÚzvß «x Ámi 350 ÂØ øú 25,000 GÊxö õ Ò 225 ö\¾zu Ási õøöa ^mk 1,700 EÒ v 650 PhÜ uõº 12,825 uòð i ( ) 1,125 uà 8,950 CÖva \μus C ¹. 12, World's number one free educational download portal

7 24. From the following data prepare Trading and Profit and Loss Account for the year ended 31 st March Department A B Stock opening 40,000 Purchase from outside 2,00,000 20,000 Wages 10,000 1,000 Goods transferred from Dept. A 50,000 Stock on ,000 10,000 Sale to outside 2,00,000 71,000 B s entire stock represents goods from Dept. A which transfers them at 25% above its cost. Administrative and selling expenses amount to 15,000 which is to be allocated between departments A and B in the ratio 4 : 1. RÌPsh  μ[pî¼ x  õ õμ, C»õ mhu PnUøP Ähß iáøh² BsiØS u õº ö\ P. xøópò A B ¹. ¹. öuõhupa \μus C 40,000 öáî ¼ x öpõò uà 2,00,000 20,000 T¼ 10,000 1,000 A xøó ¼ x ö õ ÒPÒ õøó 50, AßÖ \μus C 30,000 10,000 ÂØ øú öáî À 2,00,000 71,000 EÒÍÁºPÐUS B xøó À EÒÍ AøÚzx \μuspð A xøó ¼ x ö Ó mhøá. AÆÁõÖ ö õx Âø» À 25 \uãu Tku»õP v h k. {ºÁõP ØÖ ÂØ øú ö\»äpò ¹. 1,500, AøÁ A ØÖ B xøópðus 4: 1 GßÓ ÂQuzvÀ JxURk ö\ k. 7 - World's number one free educational download portal

8 25. The following is the balance sheet of A,B, and C sharing profits and losses in the ratio of 6 : 5 : 3. Liabilities Assets Sundry creditors 18,900 Building 50,400 Bills payable 6,300 Furniture 7,350 Reserve 7,000 Stock 29,400 A s capital 39,900 Debtors 26,460 B s capital 33,600 Cash at Bank 8,890 C s capital 16,800 Total 1,22,500 1,22,500 They agree to take D into partnership and give him 1/8 share of profits on the following conditions. (a) D bring 16,000 as him capital (b) The furniture to be written down by 920 (c) The stock to be depreciated by 10%. Prepare revaluation account, capital account and balance sheet in the books of the firm. R Ç öpõkup mkòí A, B ØÖ C BQ TmhõÎPÎß C À {ø» mi À, AÁºPÒ 6 : 5 : 3 GßÓ ÂQuzvÀ C»õ mhzøu Qº x öpõò ÁºPÒ. ö õö PÒ ¹. ö\õzxupò ¹. Ø» PhÜ uõº 18,900 Pmih 50,400 õøöa ^mk ö\¾zu Ási x 6,300 øúzxøú ö õ ÒPÒ 7,350 Põ 7,000 \μus 29,400 A Âß uà 39,900 PhÚõÎPÒ 26,460 B Âß uà 33,600 Á[Q À öμõup 8,890 C ß uà 16,800 ö õzu 1,22,500 1,22,500 RÌPsh { uøúpðus Em mk D Gß Áøμ 1/8 [S C»õ mhzvøs TmhõÎ õp \ºzxU öpõshúº. (A) D»uÚ õp ¹. 16,000 öpõská uõº (B) øúzxøn ö õ ÒPÎß v ¹. 920 SøÓUP mhx (C) \μuqß «x u õú 10 \uãqu SøÓUP Ásk Tmhõßø zup[pîà Ö v U PnUS,»uÚU PnUS ØÖ C {ø» mi À BQ ÁØøÓ u õº ö\ P. 8 - World's number one free educational download portal