Accountancy NEB 2075 (old course) question paper

A Company Ltd. issued 4000, 10% debentures of Rs. 100 each at par. These debentures were redeemed after 7 years at 10% premium.

Required: Entries for issue and redemption of debentures.

कम्पनीको संतुलन परीक्षण निम्नानुसार छ: The Trial Balance of a company is given below:

थप जानकारी (Additional information): a) कमिसन आयामदानी भएको तर प्राप्त नभएको: Rs. 3,000 Commission earned but not received: Rs. 3,000 b) Rs. 6,000 अघिम भुक्तानी भाडा खर्चमा लेविएको Prepaid rent Rs. 6,000 was expired.

तयार गर्नुहोस् (Required): i) समायोजन बिचारहरू (Adjustment Entries) ii) कार्य विवरण (Work sheet)

गणेश कम्पनी लि. को डिसेम्बर ३१, २०७५ को संतुलन परीक्षण निम्नानुसार छ: Trial Balance of Ganesh Company Ltd. as on 31st Dec. 2075 is given below:

थप जानकारी (Additional information): a) फर्निचरमा हास कट्टी (Depreciation on Furniture): by 10% b) तिन बाँकी ज्याला (Outstanding wages): Rs. 2,000 c) अन्तिम मोजदात (Closing stock): Rs. 18,000 d) प्रस्तावित लाभांश (Proposed dividend): 10% e) नदेखे आसामीको लागि ५% अवस्थ्य गर्नु (Create a provision for bad debts 5%)

तयार गर्नुहोस् (Required): i) व्यापार खाता (Trading Account) ii) नाफा नोक्सान खाता (Profit and loss Account) iii) नाफा नोक्सान बाँडफोड खाता (Profit and loss Appropriation Account) iv) बासलात (Balance Sheet)

Following information are given:

Additional information: a) Dividend paid 2nd year: Rs. 25,000 b) Depreciation charge: Rs. 15,000 c) Fixed assets purchase during 2nd year: Rs. 70,000

Required: i) Funds from operation [3] ii) Funds flow statement [2]

The following transactions were taken from the store for the month of poush:

• Poush 1): Opening balance: 400 units for Rs.2000
• Poush 3): Purchase: 600 units @ Rs.6 each
• Poush 6): Issued: 800 units
• Poush 15): (Return from department): 70 units
• Poush 22): Purchase: 800 units @ Rs. 7 each
• Poush 25): Issued: 830 units
• Poush 28): (Store verification surplus): 10 units

Required:

• Store ledger under First In First Out (FIFO) Method. [5]

Standard output in a day of 8 hours is 56 units. Rate per unit is Rs. 100 and a worker worked 180 hours in a month. Required:

• Monthly wages of a worker [2]

The details of manufacturing and other costs are as follow: Direct material: Rs. 1,00,000 Direct labour: Rs. 80,000 Factory overhead: Rs. 60,000 Administrative overhead: Rs. 50,000 Selling overhead: Rs. 30,000 Following estimate costs were made for submitting tender: Direct material: Rs. 60,000 Direct labour: Rs. 40,000 Factory overhead based on direct labour and other overhead based on works cost and factory wants earn 25% profit on sales. Required:

• i) Cost sheet [3]
• ii) Tender sheet [7]

Net profit as per financial account was Rs. 60,000. On reconciliation, the following facts were noticed. a) Factory overhead under recorded in cost account Rs. 8,000. b) Interest expense recorded in financial account Rs. 3,000. c) Over valuation of opening stock in financial account Rs. 6,000. d) Income tax paid Rs. 8,500 Required:

• Reconciliation between cost and financial account [5]

Define prospectus and mention any two contents to be stated in prospectus.

Give the meaning of Debenture.

State the parties interested in Financial Statement.

Write the meaning of Ratio Analysis.

Briefly, explain any three objectives of Cost Accounting.

With suitable example, write the meaning of fixed cost.

Define time rate system of wages payment. How is it determined?

Give the meaning of apportionment of overhead.

A company forfeited 80 shares of Rs. 10 each, issued at 10% discount, for non-payment of final call of Rs. 3 per share. Out of these shares 60 shares were re-issued at Rs. 8 per share as fully paid.

Required: Entries for forfeiture; re-issue and transfer of share.

A company issued 4000 shares of Rs. 100 each at a premium of Rs. 10 per share payable Rs. 20 on application, Rs. 50 on allotment (including premium) and Rs. 40 on final call per share. Application were received for 6000 shares. These shares were allotted on prorata basis to the applicants for 5000 shares and remaining were rejected. Excess application money were utilized towards on allotment. All money were duly received.

Required: Entries for application, allotment and final call.

Q Company Ltd. issued 5000 shares of Rs. 100 each at a premium of 20% to purchase the following assets and liabilities of P Company Ltd.

• Fixed Assets: Rs. 600,000
• Loan: Rs. 100,000
• Current Assets: Rs. 200,000
• Creditors: Rs. 50,000

Required: Entries for purchase of assets and liabilities.

निम्न जानकारीहरू दिइएका छन्: Following information are provided:

• मोजदात (Stock): Rs. 200,000
• विक्री (Sales): Rs. 7,00,000
• कुल नाफा (Net profit): Rs. 1,00,000
• साह्रै (Creditors): Rs. 125,000
• नगद (Cash): Rs. 50,000
• आसामी (Debtors): Rs. 150,000
• मोजदात परिचालन अनुपात (Inventory Turnover Ratio): 5 times
• स्थिर सम्पत्ति र विक्री अनुपात (Fixed Assets turnover): 2.5 times

तयार गर्नुहोस् (Required): i) चालु अनुपात (Current Ratio) ii) तरल अनुपात (Liquid Ratio) iii) आसामी-विक्री अनुपात (Debtors Turnover Ratio) iv) स्थिर सम्पत्ति (Fixed Assets)

The Balance Sheet of a company for two years are as under:

Additional information: a) Sales revenue: Rs. 13,00,000 b) Cost of goods sold: Rs. 700,000 c) Administrative expenses: Rs. 130,000 d) Purchase of fixed assets: Rs. 300,000

Required:

• Cash flow statement [10]

The following information are given:

• Annual requirement: 36,000 units
• Ordering cost per order: Rs. 60
• Cost per unit: Rs. 100
• Carrying cost per unit 10% of inventory cost

Required:

• Economic Order Quantity [2]