[Q. No. 1] From the informations given below prepare Store ledger account under First [Q. No.

o. 4] The following cost records are taken from books of ABC traders which occurs
come first out method: for previous year:
Baishakh 1 Opening stock 500 units@Rs.10 each Raw material purchased Rs.1,20,000
Baishakh 5 Purchased 200 units@Rs.8 each Carriage inwards Rs.20,000
Baishakh 10 Issued to customer 400 units Direct wages Rs.60,000
Baishakh 12 Purchased 300 units@Rs.9 each Factory overhead (Based on prime cost) Rs.1,00,000
Baishakh 18 Issued 100 units out of purchased on Baishakh 5 Administrative expenses (Based on work cost) Rs.60,000
Baishakh 20 issued 300 units Selling and distribution overhead (Based on work cost) Rs.1.20,000
Baishakh 25 Return to store 50 units Profit 25% on sales revenue
Baishakh 28 Store verification shortage 30 units This year the company is going to submit a tender which requires the following
expenses:
[Q. No. 2] The following informations are recorded from a book of Narayani Traders: Direct material Rs.30,000
Shrawan 1 Opening stock 200 units of Rs.1000 Direct labour Rs.15,000
Shrawan 4 Purchased from vendor 300 units@Rs.4 Required:
Shrawan 8 Issued 400 units (a)Cost sheet statement (b)Tender sheet showing tender price
Shrawan 11 Purchased 500 units@Rs.6
Shrawan 15 Return from customer 50 units [Q. No. 5] Trail Balance
Shrawan 19 Issued 300 units For the year ended 2006
Shrawan 22 Store verification surplus 40 units Particulars Dr. Amount Particulars Cr. Amount
Shrawan 25 Purchased 100 units@Rs.7 Debtors 40,000 Sales 3,20,000
Shrawan 30 Issued 200 units Furniture 1,25,000 Share capital:
Required: Store ledger account under Last in first out Land & building 1,50,000 3,800 shares@Rs.100 each 3,80,000
Purchase 2,78,000 Creditors 45,000
[Q. No. 3] The following information are extracted from books of a trading house which Prepaid rent 5,000 10%Debentures 1,00,000
produced 20,000 units of finished goods and sales of 19,000 units : Interim dividend 12,000 Provision for bad debts 10,000
Purchase of raw materials Rs.1,50,000 Opening stock 43,000 P&L App. a/c 56,000
Freight on purchase Rs.24,000 Return inwards [Sales return] 17,000 Discount received 11,000
Direct wages Rs.6,000 Commission 7,000
Indirect expenses Rs.20,000 Interest on debenture 8,000
Work overhead Rs.15,000 Salary 40,000
Depreciation on machinery Rs.5,000 Wages 18,000
Office and administrative expenses Rs.25,000 Goodwill 30,000
Depreciation on office furniture Rs.5,000 Legal fee 5,000
Selling overhead Rs.5 per unit sold Bad debt 4,000
Carriage outwards Rs.25,000 Investment 1,20,000
Particulars Stock as on January 1 Stock as on December 31 General expenses 6,000
Raw Material Rs.12,000 Rs.18,000 Cash 14,000
Work in progress Rs.25,000 Rs.34,000 9,22,000 9,22,000
Finished goods(in Unit) 1,000 units Additional Information:
Rs.45,000 (a)Value of stock at end Rs.1,25,000 (b)Provision for bad debt increased by 10%
Profit 25% on cost price (c)Prepaid general expenses Rs.2,000 (d)Proposed dividend @10% on paid capital
Required: Cost sheet statement (e)Provision for taxation Rs.8,000 (f) Salary payable Rs.9,000
Required: Final accounts
 (a)Net profit as per financial account Rs.40,000
[Q. No. 6] From the information given below prepare final account of the company: (b)Works overhead under charged in financial account by Rs.10,000
Trail Balance as on 31-12-2000 (c)Administrative overhead over recorded in financial account by Rs.4,000
Particulars Dr. Amount Cr. Amount (d)Depreciation charged in financial account Rs.10,000
In cost account Rs.9,000
Goodwill 30,000 (e)Interest received but not recorded in cost account Rs..5,000
Bills Receivable 40,000 (f)Bad debt written off Rs.3,000
Prepaid Insurance 10,000 (g)Closing stock under valued in financial account Rs.4,000
Investment 25,000
Interest on loan 4,000 ]Q. No. 8] )Prepare a reconcile statement to reconcile the differential profit shown by cost
Furniture 30,000 and financial account.
Discount received - 15,000 (a)Net loss shown by cost account at the end of the year Rs.26,000
8%Bank loan - 60,000 (b)Selling expenses over charged in cost account by Rs.4,000
Printing & stationary 6,000 (c)Income tax paid Rs.2,000 not included in cost account
Sundry receipts - 7,000 (d)Loss on sales of fixed assets Rs.3,000 only recorded in financial account
P&L App. A/c - 40,000 (e)Opening stock under valued by Rs.5,000 in financial account
Wages to workers 20,000 (f)Depreciation charged in financial account Rs.8,000 and in cost account Rs.11,000
Unearned commission - 10,000 (g)Under valuation of closing stock in cost account by Rs.7,000
Provision for doubtful debts - 10,000
Sundry Creditors - 45,000 [Q. No. 9]
General reserve - 20,000 Particulars Dr. Amount Particulars Cr. Amount
Tax paid [for last year] 8,000 Purchase 3,00,000 Share capital 1,00,000
Bank charge 12,000 Debtors 50,000 Sales revenue 5,00,000
Customs duty 15,000 Furniture 30,000 Bills payable 10,000
Repair expenses 3,000 Prepaid insurance 8,000 P&L App. a/c 2,000
Travelling expenses 5,000 Bad debt 4,000
Fuel & power expenses 6,000 Selling expenses 20,000
Sales revenue - 3,67,000 Cash balance 60,000
Purchase 3,20,000 Wages and salaries 40,000
Vehicle 50,000 Investment 1,00,000
Returned outward [Purchase] - 10,000 6,12,000 6,12,000
5,84,000 5,84,000
Adjustments: Additional information:
(a)Closing stock valued at end Rs.1,30,000 (a)Depreciation on furniture @ 20%
(b)Wages outstanding for the year Rs.5,000 (b)Provision for bad debt @ 10%
(c)Bad debt written off Rs.5,000 and provision for bad debt @ 20% (c)Prepaid insurance expired Rs.5,000
(d)Prepaid insurance expired Rs.8,000 (d) Proposed dividend @ 10% on paid up capital.
(e)Proposed dividend Rs.20,000 Required: Work sheet
(f)Transfer to general reserve Rs.10,000
(g) Goodwill written off Rs.10,000

[Q. No. 7] From the help of following figures prepare a reconciliation statement and find
out profit as per cost account:
* BEST OF LUCK *