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Day Date
Semester
Subject Name
Time
Code
Marks
Friday 20/04/2018
I (Fresh/ Repeater)
Basics Finance Accounts
11:00 AM To 02:00 PM
100005
100
Instructions: Q. No. 1 is Compulsory Attempt any three Questions from Q No. 2 to Q No. 5
Q.1
Shri. Sanjay started his business with cash Rs. 35,000 and Furniture of Rs. 5,000 on 1st April, 2016.
25
April 4
Paid cash into bank Rs. 10,000
April 6
Purchased furniture and issued a cheque of Rs. 4,000
April 8
Credit purchase from Ketan Rs. 20,000 less Trade discount
April 14
Returned goods to Ketan Rs. 400
April 19
Cash sales Rs. 10,000
April 27
Credit sales to Nathan Rs. 4,000
April 28
Paid for salaries Rs. 2,000 and paid rent Rs. 500
April 29
Nathan returned goods of Rs. 200
April 30
Distribute goods of Rs 4,000 as free sample and Sanjay used goods Rs. 1,000 for personal used.
Journalize the above transactions, post in ledges and prepare trial balance.
Q.2
From the following trail balance, prepare Trading and Profit and loss Account for the year ending 31st December 2016 and balance sheet as on that date in the books of Yami Co. Trial balance as on 31st December, 2016.
15
Particulars
Rs
Particulars
Rs
Drawings
86,000
Capital
2,00,000
Stock
75,000
Sales
1,62,350
Bills receivable
15,000
Returns
3,000
Purchases
50,000
Creditors
15,000
Returns
2,000
Commission received
2,000
Salaries
12,000
Interest received
3,000
Insurance
3,500
Discount received
3,000
Carriage Inwards
1,500
Bills payable
12,000
Carriage outwards
850
Debtors
68,000
Commission paid
3,000
Interest paid
4,500
Discount allowed
3,500
Printing stationery
2,500
Trade Expenses
1,500
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Furniture fixtures
11,000
Cash in hand
46,000
Cash at bank
12,000
Rent taxes
2,500
4,00,350
4,00,350
Additional Information: Closing stock was valued at Rs. Furniture valued at Rs. Outstanding expenses: Salaries at Rs. Rent taxes Rs Prepaid Insurance is Rs.
Q.3

Sun Ltd. issued Rs.12.5% bonds of Rs. 100 each issued at 10% premium redeemable after 6 years at par. Corporate Tax is 30% compute Cost of debt.
08

Chandrama Ltd. has issued 14% preference shares of Rs 100 each issued at par and redeemable after 10 year at par compute cost of debt.
08

The expected rate of return on company's equity share is 15% the risk free return on Railway bond is 9.5% beta factor is 1.65 compute cost of equity
09
Q.4

Explain computation weighted average cost of capital with help of suitable example.
15

Explain various steps in Activity based costing.
10
Q.5
Write short notes on any two
25
Merits and demerits of activity based costing
Types of cost
Accounting conventions