ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)

SET – 1

Time: 3 hours Full Mark: 75

The candidates are required to give their answers in their own words as far as practicable. The figures in
the margin indicate fall marks.
Attempt all the questions
Group 'A'
Very short answer questions 11×1=11
1. Write the meaning of prospectus.
2. Define preference shares.
3. Define Balance Sheet.
4. Write any two objectives of cost accounting.
5. What is fixed cost?
6. What do you mean by material control?
7. What is bin card?
8. Write the meaning of computer software.
9. From the following information, calculate cash collection from customer in year II.
Credit sales: Rs. 6, 00,000
Sundry debtors: Year I Rs. 40,000
Year II Rs. 60,000
10. Prepare adjusting entry for salary payable Rs. 20,000
11. If annual requirements is 25,000 Kgs, and EOQ 1,000 Kgs then find out number of order.
Required: Re-order level

Group 'B'
Short answer questions 8×5=40
12. A Company issued 10,000 shares of Rs. 100 each at Rs. 10 premium payable as under
On application........................Rs 40
On allotment.............. ..........Rs 45
On first and final call............Rs.25
Applications were received for 15,000 shares. Allotment were made for 12,000 shares were allotted
on pro-data basis and 3,000 shares were rejected. Excess application money were utilized towards
amount due on allotment. All the called money were duly received.
Required: a. Share application b. Share allotment c. Share first and final call 1.5+2+1.5
13. I. A Company Ltd. forfeited 400 shares of Rs. 100 each for non -payment of final call money of Rs. 20
per share out of forfeited shares 300 shares were re-issued at Rs. 70 per share as fully paid.
Required: a) Entry for forfeiture b) Entry for re-issue 1+1
II. A Company Ltd. issued 4,000 shares or Rs. 100 each to purchase the following assets.
Fixed Assets: Rs. 4,50,000 Stock: Rs. 50,000
Required: Journal Entries for purchase of assets 1+1
14. The trial balance of a company as on 31 Chitra last year is givien below.
Particulars Dr. (Rs.) Particulars Cr. (Rs.)
Machinery 1,10,000 Sales 2,00,000
Cash 40,000 10% Loan 1,10,000
Purchase 1,10,000 Share Capital 50,000
Debtors 50,000
Insurance 20,000
Wages 30,000
Total 3,60,000 Total 3,60,000
Additional information:
a. Pre-paid insurance : Rs. 5,000.
b. Outstanding wages: Rs. 2,000
Required: Work sheet 5
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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
15. The following is the information of Pashupati Co. Ltd. as on 31st March 2021
Particulars (Rs.) Particulars (Rs.)
Purchase 275,000 Sales 530,000
Insurance 24,000 Interest received 5,000
Rent 10,000 Salary 36,000
Opening Stock 80,000 General Expenses 20,000
Wages 175,000 Selling Expenses 15,000
Additional Information):
i. Stock Rs. 80,000 at market price and Rs.70,000 as cost price.
ii. Depreciation on fixed assets Rs. 10,000
iii. Provision for taxation Rs.7,000
Required: [2+3]
a. Trading Account b. Profit and Loss Account
16. Define cost account and write any three importance of it. 2+3
17. I. What do you mean centralize purchased state any two advantages of it. 2
II. Stores transactions of a limited company for the month of Chaitra are given below:
Chaitra 1: Opening stock 500 units @ Rs. 10 each
Chaitra 5: Purchased 400 units @ Rs. 11 each
Chaitra 15: Issued 600 units
Chaitra 22: Purchased 300 units @ Rs. 12
Chaitra 25: Return to vendors 50 units
Required: Store ledger under FIFO method 3
18. I. A firm furnishes the following stores transactions for the month of Mangsir:
Mansgir 1: Opening balance 250 units @ Rs. 5 per unit
Mansgir 5: Purchased 1,000 units @ Rs. 6 per unit
Mansgir 15: Purchased 1,000 units @ Rs. 7 per unit
Total sales during the month of Mangsir was 1,500 units
Required: Calculation of cost of goods sold and cost of closing stock under weighted average method 3
II. Following information are given:
Re-order period 8 to 10 days
Daily consumption 200 to 400 units
Required: i) Re-order level ii. Minimum stock level 2
19. What do you understand by computerized accounting system? Write the advantages of it. 5
Group 'C'
Long answer questions 3×8=24
th
20. A trial balance on 31 Ashad 2077 of a company as follows:
Particulars Dr.(Rs.) Particulars Cr. (Rs.)
Opening stock 10,000 Sales 3,30,000
Purchase 1,20,000 Share capital 1,00,000
Salary 12,000 Creditors 12,000
Rent 13,000
Wages 14,000
Sales commission 10,000
Advertisement 8,000
Machinery 2,00,000
Interest 4,000
Cash 6,000
Debtors 10,000
Investment 20,000
Legal expenses 15,000
Total 4,42,000 Total 4,42,000

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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
Additional information:
a. Closing stock Rs. 43,000
b. Outstanding interest Rs. 6000
c. Depreciation on machinery@ 15%
d. Provision for Income tax @ 20%
Required: a. Income statement based on NFRS b. Balance Sheet as per NFRS 4+4

21. A company provides following balance sheet of last two years.

Particulars Last year Rs. This year Rs.
Share capital 6,00,000 7,00,000
Debenture 1,50,000 1,00,000
Creditors 50,000 25,000
Retained earning 50,000 45,000
Plant 4,00,000 5,30,000
Investment 40,000 70,000
Stock 1,00,000 1,20,000
Debtors 2,20,000 1,80,000
Cash & Bank 90,000
Additional information:
a. Sales Rs. 6,50,000
b. Cost of goods sold Rs 4,00,000
c. Operating expenses Rs. 1,73,000
e. Income tax paid Rs. 12,000 and dividend paid Rs. 60,000
d. Plant worth Rs. 60,000 were sold and additional plant worth Rs. 2,00,000 were purchased.
Required: Cash flow statement by using direct method 4+1+2+1
22. The income statement of this year and the balance sheets of last year and this year have been given below:
Income Statement for this year end
Particulars Rs. Rs.
Sales revenue 8,00,000
Less: purchase 5,60,000
Gross margin 2,40,000
Less: Operating expenses other than Depreciation 1,38,000
Depreciation for the year:
On plant & machinery 29,000
On furniture 1,000
Provision for tax 50,000 2,18,000
Net Income Before Other Income 22,000
Add: Profit on sales of plant
(book value being Rs. 32,000) 4,000
Net income 26,000
Balance Sheet of Last year and This year
Liabilities 1st Year 2nd Year Assets 1st Year 2nd Year
Share capital 80,000 1,20,000 Plant & Machinery 1,02,000 1,87,000
Share premium 10,000 15,000 Furniture 9,000 18,000
Retained earnings 10% 40,000 50,000 Account receivable 40,000 60,000
Debentures - 40,000 Inventories 60,000 45,000
Accounts payable 50,000 35,000 Prepaid insurance 4,000 2,000
Overdraft 30,000 20,000 Cash at bank 20,000 25,000
Provision for tax 20,000 50,000
Outstanding expenses 5000 7,000
2,35,000 3,37,000 2,35,000 3,37,000
Additional information
i. Tax paid for this year Rs 20,000.
ii. Furniture purchased during this year was Rs. 10,000 and plant & machinery Rs. 1,46,000.
iii. Dividend paid Rs 16,000.
Required: Cash flow Statement under indirect method 4+1.5+1.5+1

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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
SET – 2
Group 'A'
Very short answer questions 11×1=11
1. Mention any two advantages of public limited company
2. Clarify the meaning of debenture.
3. Write the meaning of financial statement
4. Define cost accounting.
5. Write two examples of indirect expenses.
6. What do you mean by bin cards?
7. State any two disadvantages of cost accounting.
8. State any two advantages of computer system in accounting.
9. From the following information find out the net profit.
Gross Profit: Rs. 50,000
Salary: Rs. 10,000
Rent: Rs. 15,000
10.Prepare adjustment entry of outstanding wages Rs. 5000.
11. Following information of a company are as :
Reorder period : 4-6 days
Consumption : 200-300 units
Required: Re-order level
Group 'B'
Short answer questions 8×5=40
12. A Limited Company issued 10,000 shares of Rs. 100 each at 10% premium payable as follows:
On application........................Rs 20
On allotment with premium ..Rs 50
On first and final call............ Rs.40
Applications were received for 15,000 shares These share were allotted on pro-data basis to the
applicants for 12,000 shares and applications for 3,000 shares were rejected and money refunded.
Excess money paid on application were utilized towards the allotment. A shareholder holding 500
shares failed to pay first and final call money. Hence, his shares were forfeited
Required: 1.5+2+1.5
a. Share allotment b.Entry for first and final call c.Entry for forfeiture.
13. I. Kathmandu company issued 2000 shares at Rs. 50 par value (with Rs. 10 premium) per share to
purchase Machinery of Rs. 1,00,000.
Required: Entry for purchase of machinery and issue of share. 1+1
II. A Company Ltd. issued 500, 12% debentures of Rs 1,000 each at 5% discount and redeemable
after 6 years at 5% premium.
Required: Journal Entries for issue and redemption of debentures 1+2
14. The following financial transactions are taken from ABC company is given below:
Sales Rs. 2,95,000
Purchase Rs. 1,40,000
Prepaid insurance Rs. 20,000
Salary expenses Rs. 42,000
Interest expenses Rs. 10,000
Machinery Rs. 80,000
Commission received Rs. 15,000
Selling expenses Rs. 40,000
Rent expenses Rs. 25,000
Other office expenses Rs. 18,000
Utilities expenses Rs. 15,000
Additional information:
a. Depreciation machinery by 10%
b. Provision for taxation 25%
Required: a. Trading account b. Profit & loss account 2+3
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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
15. The trial balance of a company as on 31 Chitra last year is givien below.
Particulars Dr. (Rs.) Particulars Cr. (Rs.)
Fixed assets 6,50,000 Sales 515,000
Purchase 240,000 Share capital 490,000
Cash 50,000 Creditors 60,000
General expenses 125,000 Profit & loss account 80,000
Salary 80,000
Total 11,45,000 Total 11,45,000
Additional information:
a. Salary payable : Rs. 10,000.
b. Proposed dividend: Rs. 50,000
Required: Work sheet 5

16. What is cost accounting? State its limitations. 2+3

17. I. Write the advantages of centralized purchase.

II. Following inventory, purchase and sales records of the month of Chaitra are given.
Chaitra 1: Beginning inventory 400 units @ Rs. 5 each
Chaitra 5: Purchase 600 units @ Rs. 6 each
Chaitra 10: Purchase 300 units @ Rs. 4 each
Total sales during Chaitra 950 units
Required: Cost of ending inventory & cost of goods sold using FIFO method under periodic inventory system. 3

18. a. The following store related transactions are given:

Chaitra 01: Ppening stock 13000 units @ Rs. 300
Chaitra 03: Purchase 400 units @ Rs. 350
Chaitra 09: Issued 500 units
Chaitra 10: Purchase 450 units @ Rs. 360
Chaitra 12: Return to supplier 50 units
Chaitra 15: Issued 300 units
Chaitra 20: Received from work order 25 units
Chaitra 25: Stock verification surplus 5 units
Required: Store ledger under FIFO method 3

18.b. The following information are given in respect of a materials:

Annual requirement 60,000 units
Purchasing price per unit Rs20
Carrying cost 20% of purchase price per unit
Ordering cost per order Rs 300
Required: a) Economic order quantity b) No. of orders 2
19. Explain the applications of computer in accounting. 5

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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
Group 'C'
Long answer questions 3×8=24
20. Following is the Trial Balance of a company
Particulars Dr. (Rs.) Cr. (Rs.)
Opening Stock 40,000 -
Purchase 3,00,000 -
Carriage on purchase 10,000
Sales - 6,44,000
Advertisement 20,000 -
Land & Building 2,00,000 -
Plant 4,00,000 -
Debtors 30,000 -
Creditors - 20,000
Commission 12,000 14,000
Bank Loan - 1,00,000
Share capital 4,00,000
Salary 80,000 -
Wages 70,000 -
Interest on loan 10,000 -
Prepaid rent 6,000 -
Total 1,178,000 1,178,000
Additional information:
a. Closing stock Rs. 90,000
b. Depreciation on plant @ 10%
c. Pre paid rent expired Rs. 4,000
d. Income tax @ 20%
Required: a. Multi-step income statement b. Balance sheet 4+4
21. The balance sheet of a company for two years are given as follows:
Liabilities 2076 (Rs.) 2077 (Rs.) Assets 2076 (Rs.) 2077 (Rs.)
Share 400,000 5,00,000 Plant 3,00,000 420,000
Loan 100,000 150,000 Stock 40,000 1,60,000
Creditor 40,000 120,000 Debtor 60,000 25,000
Expenses due 6,000 8,000 Bank & Cash 1,76,000 2,13,000
Retained earning 30,000 40,000
Total 5,76,000 8,18,000 Total 5,76,000 8,18,000
Additional information:
a. Sales Rs. 5,20,000
b. Cost of goods sold Rs 3,60,000
c. Operating expenses Rs. 40,000
d. Interest expenses Rs. 20,000
e. Plant sold for Rs. 40,000 and additional plant purchased for Rs. 2,10,000
f. Dividend paid Rs. 40,000
Required: Cash flow statement by using direct method 4+1+2+1
22. The income statement and other information of a company for the year 2078 is given below:
Particular Rs. Rs.
Sales revenue 800,000
Cost of goods sold 500,000
Gross profit 300,000
Administrative expenses 160,000
Interest on debentures 15,000
Premium on debentures redemption 5,000
Depreciation on equipment 45,000 225,000
Net income 75,000
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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
Other details:
Particulars Previous year (Rs.) 2078 (Rs.)
Equipment net 600,000 75,000
Investment 50,000 100,000
Debtors 100,000 70,000
Inventory 80,000 100,000
Share capital 700,000 900,000
Share premium 50,000 100,000
10% debentures 200,000 150,000
Creditors 80,000 105,000
Outstanding expenses 15,000 10,000
Provision for tax 40,000 50,000
Bank stock 250,000 ?
Additional information:
i. Equipment sold for Rs 55,000 and purchased for Rs. 250,000 during the current year
ii. Dividend of Rs. 70,000 was paid during the current year
Required: Cash flow Statement under indirect method
4+1.5+1.5+1
● ● ●

SET – 3
Group 'A'
Very short answer questions 11×1=11
1. Define company.
2. What is issued capital?
3. What is income statement?
4. State any two objectives of cost Account.
5. What is indirect material cost?
6. State any two needs of material control.
7. State the meaning of variable cost.
8. Write the meaning of computer accounting.
9. Prepare adjustment entry for outstanding salary of Rs. 10,000.
10. From the following information determine cash from operating activities under indirect method:
Net income: Rs. 120,000
Non-operating expenses: Rs. 60,000
Decrease in current assets: Rs. 20,000
11. Following information of a company are as :
Annual demand : 400,000 kgs
Ordering Cost per order : Rs. 40
Carrying cost : Rs. 2/kg
Required: Economic order quantity
Group 'B'
Short answer questions 8×5=40
12. A company issued 8,000 shares of Rs 100 each, amount payable as under:
On application........................Rs 25
On allotment).............. ..........Rs 45
On first and final call............Rs.30
Applications were received for 12,000 shares and allotted to 10,000 applicants on pro-rate basis.
Excess application money were utilized toward sum due on allotment, where remaining application
were rejected. All the call money were made and duly received.
Required: Journal entry for 1.5+2+1.5
a. Share application
b. Share allotment
c. Share first and final call
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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
13. I. A company limited issued 5,000 shares of Rs. 100 each at a premium of 10% to purchase the
following assets.
Fixed assets.....Rs. 500,000
Stock.......... Rs. 100,000
Required: Entry for assets purchase 1+1
II. A Company Ltd. issued 5,000, 9% debentures of Rs 1,000 each and redeemable at 5% premium
after 10 years.
Required: Entries for issue and redemption of debentures 1+2
14. The trial balance of a Ltd. company as on 31 Chitra 2078 is givien below.
Particulars Dr. (Rs.) Particulars Cr. (Rs.)
Opening stock 80,000 Sales 570,000
Purchase 450,000 Share capital 200,000
Cash 50,000 Profit& loss account 50,000
Fixed assets 200,000
Salary 40,000
Total 820,000 Total 8,20,000
Additional information:
a. Salary due : Rs. 4,000. b.Proposed dividend: @ 10%
Required: 12 Column work sheet 5
15. The following financial transactions of a company is given below:
Opening stock Rs. 50,000
Purchase Rs. 630,000
Carriage 10,000
Prepaid rent 50,000
Salary and wages 20,000
Bad debts 5,000
Machinery 200,000
Sales 950,000
Interest received 15,000
Additional information:
a. Closing stock Rs.100,,000 b.Depreciation on machine @ 10%
c. Prepaid rent expired Rs. 40,000
Required: a. Trading account b. Profit & loss account 2+3
16. Classify cost according to production and element. 5

17. I. Write any two objectives of material control. 2

II. Following information relating to materials are :
Opening stock 600 units @ Rs. 30
Purchase 2,000 units @ Rs. 35
Total issue 2,200 units
Required: Cost of ending inventory and cost of goods sold using LIFO Method under periodic method 3

18. Store transactions of A limited company for the month of Shrawan 2080 are given below:
4-1: Opening stock 2000 units @ Rs. 60
4-5: Purchased 1000 units @ Rs. 65
4-20: Purchase 500 units @ Rs. 70
4-10: Issued 600 units
4-25: Issued 100 units
4-27: Received form work order 30 units
4-29: Stock verification loss 10 units
Required: Store ledger under LIFO method 3
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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
18.b. The firm provides you the following information:
Re-order quantity 600 units
Rate of consumption: maximum 30 units per day
Average 25 units per day
Lead time: average 12 days
Minimum 9 days
Required: Maximum stock level 2
19. Describe the limitations of accounting software. 5
Group 'C'
Long answer questions 3×8=24
20. A trial balance of XYZ Ltd. as on 30th Chaitra 2078 is given below:
Particulars Dr.(Rs.) Particulars Cr. (Rs.)
Opening stock 2,000 Share capital 50,000
Sundry debtor 6,410 Creditors 8,600
Equipment 112,000 Sales revenue 155,400
Cash 5,230 Loan 20,000
Purchase 21,450 Retained earnings 73,780
Dividend paid 8,400
Furniture 34,000
Rent expenses 50,600
Salary expenses 46,490
Utilities expenses 6,700
Advertising expenses 14,500
Total 307,780 Total 307,780
Additional information:
a. Closing stock Rs. 42,500
b. Depreciate equipment 10%..
c. Rent outstanding Rs. 3,000
d. Income tax provision @ 25%
Required: a. Profit or loss statement based on NFRS
b. Statement of financial position based on NFRS 4+1+2+1
21. The balance sheet of a company for two years are given as follows:
Liabilities 2076 (Rs.) 2077 (Rs.) Assets 2076 (Rs.) 2077 (Rs.)
Share capital 400,000 630,000 Fixed assets 630,000 795,000
Debentures 300,000 150,000 Inventories 90,000 60,000
Creditors 60,000 100,000 Debtors 35,000 45,000
Profit & loss account 30,000 77,600 Cash & Bank 55,000 70,000
Outstanding expenses 20,000 12,400
Total 810,000 970,000 Total 810,000 970,000
Additional information:
a. Sales Rs. 600,000
b. Cost of goods sold Rs 310,000
c. Operating expenses Rs. 90,000
d. Interest expenses Rs. 24,000
e. Tax paid Rs. 58,400
e. Purchase of fixed assets Rs. 195,000
f. Dividend paid Rs. 40,000
Required: Cash flow statement by using direct method 4+1+2+1

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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
22. The following is the balance sheets of G.Ltd. for the year ended 31st Chaitra 2072 and 2073
Balance Sheet
Liabilities 2072 2073 Assets 2072 2073
Share capital 200,000 250000 Land and building 180,000 200,000
General reserve 20,000 35,000 Plant and machinery 86,800 178,400
Profit and loss a/c 40,000 55,000 Stock 20,000 25,000
Sundry creditors 50,000 70,000 Debtors 35,000 25,000
Bills payable 24,000 28,000 Cash at bank 4,000 3,000
Outstanding expenses 3,000 2,000 Prepaid expenses 700 600
Provision for bad 1,500 2,000 Patent 12,000 10,000
debts
338,,500 442,000 338,500 442,000
Additional information
i. A machine costing Rs. 25,000, accumulated depreciation of Rs. 15,000 was sold for Rs. 12,000.
Depreciation provided on plant and machinery for the year 2073 was Rs. 24,000.
ii. Transfer to general reserve Rs. 15,000 and dividend declared and paid Rs. 20,000.
iii. Purchase of plant and machinery of Rs. 125,600.
Required: Cash flow Statement under indirect method 4+1.5+1.5+1
● ● ●

SET – 4
Group "A"
Very short answer questions 11×1=11
1. Write the meaning of prospectus.
2. What is meant by pro-rata allotment of shares?
3. State any two items of current assets.
4. State any two limitations of cost accounting.
5. What do you mean by fixed overhead?
6. Give the clear meaning of decentralized purchasing.
7. Define batch costing.
8. Define accounting masters in computer accounting.
9. Prepare adjustment entry of proposed dividend Rs. 10,000.
10. From the following information find out cash from operating activities using indirect method:
Net profit Rs. 1,25,000
Depreciation Rs. 40,000
Goodwill written off Rs. 10,000
11. Following information are provided:
Annual requirement 10,000 units
Carrying cost per unit Rs. 0.40
Ordering cost per order Rs. 80
Required: Economic order quantity
Group "B"
Short answer questions 8×5=40
12. M company ltd. issued 5,000 shares of Rs. 100 each payable as follows:
On application Rs. 20
On allotment Rs. 50
On first and final call Rs. 30
Applications were received for 10,000 shares. Among them, applicants for 3,000 shares were allotted in
full, for 3,000 applicants 2,000 on pro-rata basis and rest applicants were refunded. Excess money paid
on applications were utilized towards amount due on subsequent calls.
Required: Journal entry for 2+2+1
a) Entry for share application
b) Entry for share allotment
c) Entry for first and final call
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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
13. i. A company issue 5,000 share of Rs. 100 each at 10% discount to purchase the following assets.
Plant & MachineryRs. 4,00,000
Debtors Rs. 1,00,000
Inventory Rs. 20,000
Required: Journal Entries for assets purchase by issuing shares. 1+1
ii. B company issued 400, 9% debenture of Rs. 1,000 each at 5% discount, redeemable at 10% premium
after 8 years.
Required: Entries for issue and redemption of debentures 1+1+1
14. Following information was taken from a company as on 31st Ashad, last year is given as:
Particulars Amount (Rs.)

Prepaid insurance 8,000

Gross profit 420,000
P&L appropriation account 150,000
Salaries 42,000
Carriage outwards 5,000
Selling expense 18,000
Administrative expenses 25,000
Interest expenses 12,000
Rent expenses 36,000
Additional Information):
a. Proposed dividend Rs 90,000
b. Prepaid insurance was expired Rs. 6,000.
Required: Profit and Loss account, and Profit and Loss Appropriation account
15. Trial balance of a company is as under :
Particulars Dr. Rs. Cr. Rs.
Share capital - 4,00,000
Sales - 3,00,000
Purchase 1,30,000
Salary 20,000
Rent 10,000
Wages 30,000
Land & Building 3,00,000
Furniture 1,20,000
Cash 10,000
Debtors 80,000
Total 7,00,000 7,00,000
Additional information:
a) Bad Debts Rs. 5,000 b) Closing stock: Rs. 80,000
Required: Work sheet 5
16. Write the advantages of cost accounting along with the meaning of cost accounting. 2+3
17. i) What is codification of materials? 2
ii) Following information relating to material are given as :
Bhadra 1: Purchase 4,000units@Rs. 3
Bhadra 8: Purchase 6,000 units@ Rs.5
Bhadra 15: Issue 3,000 units
Bhadra 27: Loss in verification200 units
Required: Store ledger using FIFO method under perpetual inventory system. 3
18. The following store related information are given:
Asadh 01 Beginning balance of inventory 200 units @ Rs. 10
Asadh 05 Purchase 800 units @ Rs. 11
Asadh 10 Sales 400 units
Asadh 16 Purchase 1000 units@ Rs. 12
Asadh 25 Sales 800 units
Required: Value of ending inventory & cost of goods sold using Weighted average method under periodic method. 3
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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
18.b. In a company, weekly minimum and maximum consumption of materials A are 25 units and 75 units
respectively. The re-order quantity as fixed by the company is 300 units. The materials is received
within 4 to 6 weeks.
Required: a. Re-order level b. minimum stock level 2

19. How do you use computer in accounting? 5

Group "C"
Long answer questions 3×8=24
20. A trial balance of a limited company as on 31st Asar last year is given below.
Particulars Dr. Rs. Particulars Cr. Rs
Investment 1,20,000 Sales 2,01,000
Debtors 22,000 Dividend received 22,000
Goodwill 32,200 Creditors 40,000
Bank balance 16,000 Share capital 2,00,000
Interest expense 7,500 Loan 1,50,000
Opening stock 8,000 -
Purchase 92,000 -
Equipment 2,00,000 -
Promotion expenses 15,300 -
Salary expenses 50,000 -
General expenses 30,000 -
Repair expense 8,000 -
Stationery 12,000
Total 6,13,000 6,13,000
Additional information:
a) Closing stock Rs. 10,000
b) Salary payable Rs. 5,000
c) Depreciation on equipmentRs.10,000
d) Provision for tax Rs. 15,000
e) Goodwill written off Rs. 12,200
Required:
a) Profit or loss Statement based on NFRS 4
b) Statement of Financial position based on NFRS 4

21. The balance sheet of a company on 31st December are given below:
Year I Year II Year I Year II
Liabilities Assets
(Rs.) (Rs.) (Rs.) (Rs.)
Share capital 15,000 18,000 Fixed Assets 18,000 24,000
Share premium 1,500 1,800 Closing stock 1,500 3,000
Debentures 3,000 - Debtors 4,500 3,000
Creditors 4,500 5,700 Cash balance 3,000 1,500
Retained earnings 3,000 6,000
Total 27,000 31,500 Total 27,000 31,500
Additional information:
i) Sales Rs. 18,000
ii) Cost of goods sold: Rs.7,800
iii) Operating expense (including depreciation on Rs. 1,000) Rs. 3,000
iv) Income tax paid Rs. 1,200
v) Purchased of fixed assets Rs. 7,000
vi) Divided paid Rs. 3,000
Required: Cash flow statement by using direct method 4+1+2+1

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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
22. The following are the particulars of balance of F ltd. As on 31st December 2022 and 2023
Liabilities 2022 2023 Assets 2022 2023
Share capital 200,000 300,000 Plant and machinery 165,000 375,000
Share premium 20,000 30,000 Investment 140,000 90,000
10% debentures 50,000 0 Sundry debtors 110,000 80,000
Account payable 120,000 175,000 Inventory 75,000 125,000
Provision for tax 70,000 90,000 Preliminary expense 40,000 30,000
Proposed dividend 20,000 45,000 Cash and bank 100,000 130,000
Retained earning 65,000 85,000
630,000 830,000 630,000 830,000
Additional information:
Debenture were redemption at 10% premium.
Proposed dividend Rs 45,000 and dividend was paid Rs. 20,000
Depreciation for the year was Rs 50,000
Provision for tax Rs. 25,000.
Profit on sales of investment Rs. 5,000.
Purchase of plant Rs. 2,55,000
Net profit for the year was Rs 30,000.
Required: Cash flow Statement under indirect method 4+1.5+1.5+1

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SET – 5
Group "A"
Very short answer questions 11×1= 11
1. Define public limited company.
2. What do you understand by debenture?
3. Write the full form of NFRS.
4. What is cost accounting?
5. Write the meaning of variable overhead.
6. Clarify the meaning of Bin Card.
7. Define classification and codification of materials.
8. What is computerized accounting?
9. Prepare adjusting entry of provision for income tax Rs. 5,000.
10. From the following information, calculate cash paid to suppliers in year II.
Purchase Rs. 3,50,000
Sundry creditors Year I Rs. 15,000
Year II Rs. 20,000
11. If weekly consumption 200 to 300 units of material & re-order period 4 to 6 weeks, then find out Re-
ordering level.
Group "B"
Short answer questions 8×5= 40
12. A company issued 6,000 shares of Rs. 100 each with premium Rs. 10 per share. The calls were made as
follows:
On application Rs. 20 per share
On allotment per share including premium Rs. 10 Rs.40
On First and final call Rs. 50
Application were received for 9,000 shares. No allotment was made to 1,000 shares. Rest were allotted
on pro-rata basis. Excess application money utilized in subsequent calls. All the calls were made and call
money were duly received.
Required: Journal entry for 2+2+1
a) Share application
b) Share allotment
c) Share first and final call

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ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
13.i) Q Company Ltd. purchase the following assets of R Company Ltd. at an agreed price of Rs. 4,40,000.
Machinery Rs. 3,20,000
Stock Rs. 2,10,000
The purchase price paid by issuing shares of Rs.100 each at 10% premium.
Required: Journal Entries for Assets purchase by issuing shares. 1+1
ii) A company issued 500, 8% debentures of Rs. 1,000 each at 10% premium. After 5 years it will be
redeemed at 5% premium.
Required: Journal Entries for issue and redemption of debentures 1+1+1

14. A company provides the following trial balance :

Particulars Dr. Rs. Cr. Rs.
Opening stock 40,000 -
Purchase 3,20,000 -
Wages 30,000 -
Salary 25,000 -
Rent Income - 10,000
Interest on Investment 18,000
Interest on Loan 14,000 -
Commission Received 20,000
Sales Return 15,000 -
Carriage on purchase 20,000 -
Sales - 6,00,000
Bad debts 6,000 -
Sales commission 4,000 -
Additional information:
a) Closing stock Rs. 60,000
b) Outstanding interest on loan Rs. 1,000
Required: a) Trading b) Profit and loss account Account 2+3

15. The following is the Trial Balance of a company on Ashadh end 2078.
Particulars Dr. Rs. Cr. Rs.
Share capital 4,00,000
Creditors 1,00,000
Sales 6,00,000
Purchase 4,00,000
Cash 1,60,000
Debtors 2,00,000
Salary & Rent 1,20,000
Machinery 2,80,000
Overdraft - 1,60,000
Investment 1,00,000
Total 12,60,000 12,60,000
Additional information:
a) Depreciation on Machinery @10% b)Outstanding salary Rs. 10,000
Required: Work sheet 5
16. Define overhead. Write about apportionment and re-apportionment of overhead 2+3

17.i) Write about store ledger. 2

ii) Following are the store transaction given to you for the month of Bhadra.
Bhadra 1: Opening stock700 kg @Rs. 20
Bhadra 4: Purchase 800 kg @ Rs.21
Bhadra 20: Purchase 1,000 kg @ Rs. 22
Bhadra 30: Issue 1,900 kg
Required: Store ledger under FIFO method using perpetual inventory system. 3

14
ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
18. a. The following information are given to you:
Date Particulars Units Unit cost(Rs)
March 1 Beginning inventory 800 25
March 5 Purchase 1500 26
March 14 Purchase 1200 26
March 27 Purchase 1500 28
According to a physical count, 1700 units were found in stock on March 31, 2021. The company uses
periodic inventory system for the valuation of stock
Required: value of ending inventory and cost of goods sold using Simple average method under periodic
method. 3
18.b. The following information are provided:
Re-order period 5 tot 7 days
Daily consumption 50 to 60 units
Maximum level 1800 units
Re-order level 1400 units
Required: re-order quantity 2
19. Describe the disadvantages of accounting software. 5
Group "C"
Long answer questions 3×8=24
st
20. The Trial balance of a Company as on 31 Ashadh 2078 is given below.
Particulars Dr. Rs. Particulars Cr. Rs
Opening stock 30,000 Share capital 100,000
Purchase 96,000 Creditors 10,000
Discount 7,000 Sales revenue 144,000
Building 15,000 Discount received 4,000
General expenses 8,000 10% loan 20,000
Machinery 25,000 Provision for bad debt 2,000
Debtors 32,000
Cash in hand 12,000
10% Investment 20,000
Bills received 6,000
Wages 13,000
Insurance 2,000
Salaries 13,000
Interest on loan 1,000
Total 280,000 280,000
Additional information:
a) Closing stock: Rs. 50,000
b) Bad debt: Rs. 2,000
c) Provision for bad debts to be maintained at 5%
d) Provision for income tax @20%
e) Wages outstanding: Rs.2,000
Required:
a) Multistep income statement 4
b) Statement of financial position 4

15
ACCOUNTING ASSIGNMENT-2081 ( FOR SECOND TERM)
21. The balance sheet of a company as on Chaitra 31st are as under:
Liabilities Year I Year I Assets Year I Year I
(Rs.) (Rs.) (Rs.) (Rs.)
Share capital 450,000 720,000 Fixed assets 350,000 600,000
10% debentures 100,000 40,000 Account 40,000 25,000
Account 40,000 50,000 receivable 100,000 150,000
payable 10,000 80,000 Inventories 100,000 110,000
Retained Cash at bank 10,000 5,000
earnings Goodwill
Total 600,000 890,000 Total 600,000 890,000
Additional information:
i. Sales for year 2 Rs. 625,000
ii. Cost of goods Rs. 300,000
iii. Operating expenses Rs. 150,000 (including depreciation on fixed assets Rs 80,000 and interest on
debentures Rs.10,000)
iv. Gain on sales of fixed assets (book value Rs. 50,000) Rs. 5,000
v. Fixed assets purchased Rs. 380,000
vi. Dividend paid Rs. 105,000
Required: Cash flow statement 8
22. The income statement and other information of a company for the year 2078 is given below :
Particulars Rs. Rs
Sales revenue 10,50,000
Cost of goods sold 7,25,000
Gross profit 3,25,000
Office expenses 1,25,000
Selling expenses 30,000
Interest on debentures 20,000
Premium on debentures
5,000
redemption
Depreciation on
15,000 1,95,000
furniture
Net profit 1,30,000

Other details
Particulars Year I (Rs.) Year II (Rs.)
Furniture net 5,25,000 6,50,000
Investment 2,00,000 2,50,000
Debtors 2,25,000 1,75,000
Inventory 1,50,000 2,00,000
Share capital 4,00,000 6,00,000
10% Debentures 2,00,000 1,50,000
Expenses due 25,000 15,000
Creditors 1,30,000 1,70,000
Bank balance 2,25,000 ?
Additional information:
i) Furniture sold for Rs.30,000 and purchased for Rs.1,70,000
ii) Dividend paid: Rs.40,000
Required: Cash flow statement by using indirect method 4+1+2+1

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