Q1: From the following Balance Sheets of prepare common size balance sheets.
|Equity share cap||3,00,000||4,00,000||Goodwill||1,15,000||90,000|
|Pre.shares||1,50,000||1,00,000||L and B||2,00,000||1,70,000|
|Profit and Loss||30,000||48,000||Debtors||1,60,000||2,00,000|
|Bills payable||20,000||16,000||Cash in hand||15,000||10,000|
|Prov for Taxation||40,000||50,000||Cash at Bank||10,000||8,000|
Q2: Following are the ratios to the trading activities of National Traders Ltd.
Debtor’s velocity 3 months
Stock velocity 8 months
Creditors velocity 2 months
Gross profit ratio 25%
Gross profit for the year ended 31st Dec. 1998 amounts to Rs. 4,00,000.
Closing stock of the year is Rs. 10,000 above the opening stock.
Bills receivable amount to Rs. 25,000 and bills payable to Rs. 10,000
Find out :
(b) Sundry debtors
(c) Closing stock
(d) Sundry creditors.
Q3: (a) What are the differences between cost accounting and financial accounting?
(b) Enumerate various accounting ratios.
Q4: (a) What are the differences between single entry and double entry system of accounting?
(b) Discuss the steps involved in the preparation of trial balance.
Q5: (a) What are the uses of management accounting?
(b) Explain – Inter firm comparison.
(c) Limitations of ratio analysis.
Q6: Explain the accounting concepts and conventions.
Q7: Enumerate the mandatory accounting standards issued by ICAI.
Q8: (a) Distinguish between cost accounting and management accounting.
(b) What are accounting ratios? State their importance.
Q9: Explain the meaning and significance of the following :
(a) The Going concern concept
(b) The Money measurement concept
(c) The Accounting period concept
(d) The Cost concept
(e) The Match concept