Financial Accounting and Analysis — DU Bachelor of Management Studies Previous Year Question Papers

1 Journalise the following transactions, post them to the ledger, and prepare the trial balance in Ms. Priya's books. Date Particulars Amount May Ms. Priya started her business with cash (Rs. from Mr esh on credit 000 Purchased furniture for cash 5,000 Sold goods to Mr. Vikram at listed price of Rs. 12,000 less l0% trade discount 5 Mr. Vikram retumed goods worth Rs. 1,500 Purchased goods for cash Sold goods for cash 4,0q0_ Sold goods on credit to Ms. Neha Paid w to workers Received payment from Mr. Vikram after allowing him 2%o cash discount t5 Paid Mr. Rajesh Rs. 7,840 and received 19'o discount from him Purchased stationery Received cheque from Ms. Neha With&ew cash for personal use Paid rent for the month 1,200 2 From the following Trial Balance of Meera, you are required to prepare (i) Trading and Profit and Loss Account for the year ended 3 l st March, 2020, and (ii) Balance ,Sheet as on that date. Trial Balance as on 31st March, 2020 Debit Balances Amount Credit Balances Plant and Machinery Rent Outstanding s,000 Depreciation on Plant and Machinery Bills Payable 000 Salary for 10 months 12,000 Discount Received Discount Allowed Carriage Inwards s,000 Bad Debts 1. Stock on 31st March,2020 was {1,15,000. 2 . Stock destroyed by fire was t i 0,000 and the Insurance Company accepted a claim for {7,000. 3. t2,000 paid as reot of the office was debited to Landlord account included in 4. Write off further bad debts <5,000. 5. Sales include sales on retum basis. Approval for sale of 13,000 has not been received till 31-3-2020. The rate of gtoss profit on this sale was 25o% on cost. 3 (a) Discuss the challenges faced by Indian companies in adopting IFRS/Ind-AS standards. Wh21 ars ths ksy benefits for the stakeholders? (8) (!) Discuss the main differences between adoption and convergence with Intemational Financial Reporting Standards (IFRS). Explain how India has chosen the Ind AS route and bring out at least three implications of this choice for multinational companies operating in 4 Following are accounting information of Shakti Ltd. as at 31st M arch,2024: Equity and Liabilities Particulars Amount (Rs.) Share capital Long-term liabilities (12% Debentures) Bills payable Particulars Amount (Rs.) Fixed assets Additional Inforrnation o Sales: Rs. I1,50,000 o Opening stock: Rs. 70,000 You are required to calculate and interpret the following ratios a) Current Ratio b) Acid Test Ratio c) Total Asset to Debt Ratio d) Proprietary Ratio e) Inventory Tumover Ratio f) Working Capital Tumover Ratio 5 (a) A company has the following financial infonnation: Equity Share Capital (of Rs. l0 each) l2Yo Prefercrce Share Capital (ofRs. 100 each) Fixed Assets s,60,000 Current Assets 4,20,000 Current Liabilities 1,s0,000 General Reserve 2,s0,000 Market value of each equity share Market value of each preference share Rs. i10 Interest on debentures Rs. 30,000 (18) Calculate Altman's Z-Score and provide your assessment of the financial distress risk for the company. (12)