1. Explain documents used for data collection, processing of different files and outputs obtained through computerised accounting system.
4. From the following particulars prepare the Trading Account and Profit and Loss A/C for the year ended 31st Dec, 03 and the Balance sheet as on that date:
b) The assets of another company were purchased for Rs 60,000 payable in fully paid shares of V. Ltd. These assets include stock Rs. 22,000 and machinery 18000. In addition sundry purchases of machinery amounted to Rs 5600.
Stock velocity = 6, capital turnover Ratio = 2
Fixed assets turnover Ratio = 4, Gross Profit = 20%,
Debt Collection Period = 2 months, Creditors payment period = 73 days. The gross profit was Rs 60,000. Closing stock Rs. 5000 in excess of the opening stock.
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