Financial Accounting for MSMEs — DU B.A. (V.S.) Small And Medium Enterprise Previous Year Question Papers

Uniquepaper code : 6132392302 1. From the following Trial Balance of Dhan Ltd., you are required to prepare Trading and Profit & Loss Account for the year ended on 31st March, 2025 and a Balance Sheet as on that date after making necessary adjustments. Trail Balance Opening S1:ock 7,500 Debtors and creditors 4'25018,500 Reserve Funds 2,500 Purchases and sales 27,00015,700 Mortgage Loan 13,0001,080 Fixed Assets 16,000 Rent outstanding Additional information: (a) (b) (c) Depreciate fixed Assets by 20%. Bad debts written off { 250. Provide for bad and doubtful debts on debtors @5°/o and discount on sundry debtors and creditors @2%. (d) Stock in hand as on 31.03.2025 was { 7,075. (e) Insurance was prepaid { 75. 2. (a) The following are the details of raw materials ofx Ltd. 01-4-2024 Opening Stock 11-4-2024 Issue for consumption 22-4-2024 Issues for consumption 30-4-2024 Issues for consumption 400 units @ Rs. 20 per unit 300 units @ Rs.17.50 per unit 450 units @ Rs. 21 per unit 400 units @ Rs.18 per unit You are required to calculate the value of stock as on 30-04-2024, if company follows perpetual inventory system by First-in-first-out method. (b) Distinguish between periodic and pexpetual systems of inventory valuation. 3. (a) From the following data calculate any three ratios : (i) Current Ratio (ii) Debt-Equity Ratio (iii) dross profit ratio (iv) Net profit ratio Net sales Rs.45,000, cost of goods sold Rs. 30,000, Net profit Rs.9,000, Current Assets Rs. 9,000, Stock Rs.1,500, Current Liabilities Rs. 3,000, Paid up share capital Rs. 7,500 and Debentures Rs. 3,750. (b) Classify the following into Cash flow from Operating Activity , Cash flow from Investing Activity , Cash flow from Financing Activity. Briefly explain the reason : (i) Cash received from sale of furniture (ii) Dividend paid (iii) Cash sales (iv) Interest received on 10% Government Bond (v) Cash Purchase of goods (vi) Purchase of plant and machinery (viii) Payment for Bills Payables (ix) Repayment of bank loan 4. X Ltd. purchased a second -hand machinery on 1.7.2019 for Rs.90,000 and spent Rs. 5,000 on its overhauling and Rs. 5,000 for its installation. On 1.1.2020 an additional Machine was purchased for Rs.1,50,000. On 1.10.2021 the first machine was sold for Rs.35,000. The company provides depreciation on its machinery @ 20% p.a on Diminishing Balance method and closes its books on 31St March every year. Prepare Machinery Account for three years. 5. The following was the balance sheet ofA and 8 who were sharing profits 2 : 1 Liabilities € Assets € Creditors I,23,000 Cash 2,600 General Reserve 9,000I,00,000 Bank 60,000 Capitals: Stock 40,000 On the above date, C is admitted into partnership on the following terms : (a) C was to bring { 50,000 as his capital and = 18,000 as goodwill for his 1/4th share in the firm. (b) (c) (d) The value of stock and plant and machinery were to be reduced by 5%. A reserve was to be created in respect of sundry debtors, € 1350.