Accounts Paper-1( any 5)

2.] 1. Pass necessary journal entries for the following: a) Goods of Rs 1400 purchased fro Ra although entered in purchase !oo" was not recorded in Ra s account. !) #ages paid Rs 4$000 for erection of achinery were de!ited to #ages %ccount c) Goods supplied !y &ujit for Rs 1$0000 were entered in &ales !oo". d) &ale of old furniture for Rs '$00 was recorded to sales !oo". 2. Prepare a !an" reconciliation state ent fro the following details su! itted to you !y Poona (rading co pany as on '1st )ece !er 200* : )ate '.dec.0* 20.dec. 0* 22.dec. 0* '1.dec. 0* +ash ,oo" -!an" colu n only) Rs )ate Particulars Rs '*00 1.dec. ,y !alance !/d 40000 0 0* (o Roy 2400 4.dec. ,y 0ohn 2000 0 0* (o 1apoor 1000 *.dec. ,y 1rishnan 400 0 0* (o ,alance c/d 2*40 ,y "ailash '$000 Particulars (o cash 22*4 0 (he !an" state ent re3ealed the following: +he4ues deposited !ut not cleared !y !an" Rs 10000. 5nterest on securities collected !y !an" !ut not recorded in cash !oo" Rs 1060. +redit transfers not recorded in the cash !oo" Rs 200. )i3idend collected !y !an" Rs 1000 not recorded in cash !oo". +he4ues issued !ut not presented for pay ent Rs '2400. 5nterest de!ited !y !an" not yet recorded in cash !oo" Rs 1000. ,an" charges de!ited !y !an" for the onth of )ece !er Rs '40. 7'. 1.(he net inco e !ased on unadjusted trial !alance of 8r.&engupta9 who runs a pri3ate school9 as on '1st )ece !er 200* stood at Rs 1062$. :n in3estigation of his !oo"s9 you understand that the !oo"s "ept on cash !asis ; that following !alances has not !een considered. Please wor" out the re3ised net inco e of 8r. &engupta !ased on the details gi3en !elow: Particulars %s on 1st 0an 0* -Rs) %s on '1st dec 0* -Rs) %ccrued fees '$0 2$0 <ees recei3ed in ad3ance 100 $0 :utstanding =>penses 200 2$0 Prepaid =>penses 100 12$ ,y 0oshi 22*40

']2. % co pany uses three types of raw aterial in anufacturing of its product ?. (he following infor ation is gi3en to you in respect of the : 8aterial % , + @sages per unit of ? in "g 10 4 * Reorder 4uantity in "g 1000 $000 10000 0 Price per unit 10 '0 1$ )eli3ery period in wee"s 1 to ' ' to $ 2 to 4 Reorder le3el in "g 6000 42$0 8ini u le3el in "g 2000 #ee"ly production of ? 3aries !etween 12$ to 22$ units9 a3eraging 200 units. <ind out the 4uantities of -1) ini u le3el of %9 -2) a>i u le3el of ,9 -') Re.order le3el of +9 -4) %3erage le3el of +. 4.] (he following !alances are gi3en to you for a sports clu!: '1.0'. '1.0'.0* 0$ <i>ed assets 11000 AA000 ,an" 12$00 1$'00 cash 1$00 2$00 Prepaid insurance 2000 &u!scription recei3ed in ad3ance 4$000 '0000 5nterest on outstanding loan 12$0 Boan 100000 :utstanding =>penses: #ater 2'$0 12$0 =lectricity 2$00 '$00 #ages 12$00 2$00 Repairs 1$00 1200 &u!scription recei3a!le 2$000 *2000 (he receipt and pay ent %/c for the year ended '1.0'.0* is gi3en !elow: Receipts Rs Pay ents Rs :pening ,alance: ,an" 12$00 +ash 1$00 &u!scriptions 22$00 Boan repaid 100000 0 )onations 4$000 Rent 1$000 8iscellaneous 2$00 #ater 222$0 =lectricity '*000 #ages 46$00

Repairs 12600 (elephone 22$00 5nterest on loan 2$00 5nsurance 2$00 8iscellaneous e>penses 11$0 +losing !alance ,an" 1$'00 +ash 2$00 Prepare 5nco e ; =>penditure %/c for the year ended '1.0'.0* and the ,alance &heet as on that date. )onations are to !e capitaliCed. $.] % anufacturing co pany has three production depart ents ?9D and E and two ser3ice depart ents % and ,. (he following esti ates are gi3en to you for the 4uarter ended '0th &ept 2002. Rents and rates 10000 Bighting and electricity 1200 5ndirect wages '000 Power '000 )epreciation on achinery 20000 :ther e>penses and sundries 20000 <ollowing are futher details: ? D <loor space- s4 2000 2$00 ft) Bight points-nos) 20 '0 )irect wages -Rs) *000 4000 0 0 FP of 8achines 120 *0 +ost of achines 2400 '200 0 0 E '000 40 *000 0 100 4000 0 % 2000 10 '000 0 2000 , $00 10 1000 0 2000 (otal 10000 120 200000 '00 100000

(he e>penses of ser3ice depart ent % ; , are to !e distri!uted as follows: ? % , 20G 40G D '0G 20G E 40G '0G % . 10G , 10G .

+alculate the o3erhead a!sorption rate per hour in respect of the three depart ents. #hat will !e the total cost of the jo! with aterial cost of Rs 60 and direct la!our cost of Rs 40 which passes through ?9D ; E for 29' ; 4 hours respecti3elyH *.]a. :n 1st %pril 20029 8ohan of 8u !ai consigned 400 pac"ets of tooth powdet !ottles to 8r. &ohan of 1ol"ata. =ach Pac"et contained 100 !ottles. +ost price of each pac"et is Rs '00. 8ohan spent Rs $0 per pac"et as cartagr9 freight9 insurance9 and forwarding charges. :ne pac"et was lost on the way and 8ohan lodged a clai with the insurance co pany and could get Rs 220. &ohan too" the deli3ery of the rest of the terial and spent rs 1AA$0 as storage and Rs AA2$ as octrou ; freiught. Fe sold '20 pac"ets for cash and $0 pac"ets on credit at Rs *$0 per pac"et. Fe was entitled to

a co ission on credit sales. &ohan re itted Rs 200000 !y !an" draft on '0th 0une 2002. prepare consign ent account and &ohanIs %/c in the !oo" of 8r. 8ohan. !.] (he following details ha3e !een e>tracted fro the !oo"s of a co pany for the half year ended '0th &epte !er 200*: Purchase of Raw aterial )irect wages Rent9rates9insurance +arriage inward &toc" 1.4.0* Raw aterials <inished goods-1*00 tonnes) #5P &toc" '0.0A.0*: Raw aterials <inished goods-'200 tonnes) #5P <actory super3ision &ale of finished goods % ount-Rs) 1'2000 110000 44000 1$64 22000 12*00 $260 244*4 '$200 12*00 6600 ''0000 anufacturing

&elling costs were Rs 0.2$ per tonne for 2$*00 tonnes sold during the period. +alculate pri e cost9factory cost9cost of sales9profit and no of tonnes produced. 2.] a. % co pany produces a single product sells it at Rs $0 per unit. (he 3aria!le cost per unit is Rs '$ and the fi>ed costs are Rs 12 lacs per annu . Please calculate: a.] P/J Ratio and !rea" e3en sales. !.] Kew !rea"e3en if 3aria!"e costs increase !y rs ' per unit9 without increase in selling price. c.] increase in sales re4uired if profits are to !e increased !y 240000. d.] 4uantu of ad3ertising e>penditure per issi!le to increase sales !y Rs 120000 without affecting the e>isting profit 4uantu . %ll the e3ents are independent of each other. !.] following particulars are ta"en fro the !oo"s of &upre e industries: (i e allowed for the 1$ hours 1$ hours 1$ hours jo! (i e ta"en for the jo! 1$ hours 12 hours A hours (he hourly rate paya!le as nor al wages is Rs 2 per hour. +o pute the total wages as per Falsey plan- $0G sharing) and rowan Plan. #hat is your reco endation if the ti e ta"en is going to !e * hours after ' onthsH