1 Q. P.

Code : 36801

( Revised Course – New Pattern )

( 3 Hours ) ( Total Marks : 100 )
Please check whether you have the right question paper.
N.B.: 1) Working notes should form part of your answer.
2) Proper presentation and neatness is essential.
3) Use of simple calculator is allowed.

1. a) Fill in the blanks from given option. (Any Ten) : (10)

1) Income earned from activities other than normal business is __________.
2) Redemption of Preference Shares is considered as Cash Flow from
__________ Activity.
3) In __________ statement Net Sales is considered equal to 100.
4) MVAT payable is a __________.
5) Positive working capital is excess of current assets over __________.
6) Computer software is a __________ fixed asset.
7) Margin of safety is __________ to net current assets to get working capital.
8) Net Profit Ratio is an indicator of __________.
9) Dividend paid should be shown as cash flow from __________ Activities.
10) Carriage outward is __________ expense.
11) Stock is considered as __________ current asset.
12) Shareholders’ Fund is equal to paid up capital plus __________.

b) State whether the following statements are true or false (Any Ten) : (10)
1) Window dressing is a type of fraud.
2) Misappropriation of goods is generally done by the shareholders.
3) Audit Programme should be written.
4) A voucher decided the authenticity of the transaction
5) Test checking is checking of all the books of original entry
6) Working papers are the property of the Auditor.
7) Vouching is the essence of auditing.
8) Teeming & Lading is a type of fraud.
9) An error of principle will affect the trial balance.
10) Audited accounts are free from errors and frauds.
11) Test checking is checking of all the books of original entry.
12) Verification protects against misuse of assets.

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 2 Q. P. Code : 36801

2. The Balance Sheets of M/s Desai Ltd are as follows : (15)

Balance Sheets
Liabilities 2017 2018 Assets 2017 2018
Equity Share 3,00,000 4,00,000 Goodwill 1,15,000 90,000
Capital
8% Redeemable 1,50,000 1,00,000 Land & Building 2,00,000 1,70,000
Preference Share
Capital
General Reserve 40,000 70,000 Machinery 80,000 2,00,000
Profit & Loss 30,000 48,000 Stock 77,000 1,09,000
Sundry Creditors 55,000 83,000 Sundry Debtors 1,60,000 2,00,000
Bills Payable 20,000 16,000 Bills Receivable 20,000 30,000
Provision for 40,000 50,000 Cash at Bank 10,000 8,000
Income Tax
Proposed Dividend 42,000 50,000 Cash in Hand 15,000 10,000
Total 6,77,000 8,17,000 Total 6,77,000 8,17,000
Additional Information :
1. Depreciation of <10,000 and <20,000 have been charged on Machinery and Land
& Building respectively.
2. An Interim Dividend of <20,000 has been paid in 2018.
3. <35,000 Income Tax was paid during the year 2018.
You are required to prepare Cash Flow Statement for the year ended 2018 in
accordance with AS-3, using Indirect Method.
OR
2. A factory produces 32,000 units during the year and sells them for <50/- per unit. Cost (15)
structure of a product is as follows :
Raw Materials 60%
Labour 15%
Overheads 10%
85%
Profit 15%
Selling Price 100%
The following additional information is available :
1. The activities of purchasing, producing and selling occur evenly throughout the
year.
2. Debtors get 2 months credit.
3. Creditors allow 1 & ½ months credit.
4. Time lag in payment of wages and overheads is ½ month.
5. Cash and Bank balance is to be maintained at 10% of the working capital.
6. Raw materials equivalent to 1 month’s supply are stored in godown.
7. The production process takes 1 month.
8. Finished goods equal to three month’s production are carried in stock.
9. Debtors are valued at selling price.
You are required to prepare a statement of working capital requirements of the
factory.

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 3 Q. P. Code : 36801

3. Following is the Balance Sheet of Sun Ltd. as on 31st March, 2018 : (15)
st
Balance Sheets as on 31 March, 2018
Liabilities < Assets <
Equity Share Capital 2,00,000 Machinery 5,92,000
10% Preference Share Capital 3,60,000 Investment 2,24,000
General Reserve 1,40,000 Stock in Trade 2,02,000
15% Debenture 2,40,000 Bills Receivable 40,000
Trade payable 2,44,000 Debtors 98,000
Bank Overdraft 40,000 Cash and Bank 76,000
Provision for Tax 36,000 Profit & Loss (Dr. Bal) 28,000
12,60,000 12,60,000
Sales for the year is <14,00,000; Gross Profit Rate – 25% and Opening Stock is
<2,18,000. Profit before Tax for the year ending is <4,20,000
From the above statement, you are required to calculate the following ratios :
1) Current Ratio.
2) Acid Test Ratio.
3) Stock Turnover Ratio.
4) Return on Capital Employed.
5) Debt Equity Ratio.
Note : Vertical Income Statement and Balance Sheet need not be prepared.
OR
st
3. Following is the Balance Sheets as on 31 December 2016, 2017 and 2018 : (15)
Liabilities 2016 2017 2018 Assets 2016 2017 2018
Share 4,00,000 3,40,000 3,00,000 Fixed Assets 4,00,000 3,60,000 2,80,000
Capital
General 1,00,000 1,00,000 1,00,000 Stock 1,60,000 1,50,000 1,35,000
Reserve
Secured 60,000 60,000 50,000 Debtors 2,00,000 1,60,000 1,40,000
Loan
Unsecured 1,60,000 1,80,000 1,40,000 Loans and 1,00,000 80,000 60,000
Loan Advances
Creditors 1,60,000 90,000 45,000 Cash & 20,000 20,000 20,000
Bank
Total 8,80,000 7,70,000 6,35,000 Total 8,80,000 7,70,000 6,35,000
From the above information workout the Trend percentages.

4. a) What is an Error? What are the different types of Errors? (07)

b) What are the contents of Audit Working Papers? (08)
OR
4. How would you vouch the following : (15)
a) Cash Sales
b) Interest received on Investment
c) Advertisement

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 4 Q. P. Code : 36801

5. a) What are the Objectives of Auditing? (07)

b) What are the Qualities of an Auditor? (08)
OR
5. How would you verify the following : (15)
a) Secured Loans
b) Inventory
c) Accounts Payable

6. a) What is a Ratio? What are the objectives of Ratio Analysis? (10)

b) What are the different types of Misappropriation or embezzlement of Cash? (10)
OR
6. a) Write Short Notes on (Any Two) : (10)
1. Comparative Financial Statement
2. Capital Gearing Ratio
3. Cash from Investing Activities

b) Write Short Notes on (Any Two) : (10)

1. Audit Working Papers
2. Routine Checking
3. Objectives of Internal Control

_________________

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 5 Q. P. Code : 36801

( gwYmarV Aä¶mgH«$‘ - Z[dZ AmH¥$Vr~§Y )

( 3 Vmg ) ( EHy$U JwU : 100 )
gyMZm : 1) H¥$Vr Zm|XrMm Vw‘À¶m CÎmamV g‘mdoe H$am.
2) ¶mo½¶ gmXarH$aU d ZrQ>ZoQ>Ho$nUm Amdí¶H$ Amho.
3) gmYo JUH$¶§Ì dmnamdo.

1. A) [aH$må¶m OmJm ^am (H$moUVohr Xhm) … (10)

1) gm‘mݶ ì¶mnmamì¶{V[aº$ Aݶ CËnÞmg ------ åhUVmV.
2) AJ«h¸$ ^mJm§Mr naV’o$S> hm ------ {H«$¶oVrb amoI àdmh ‘mZbm OmVmo.
3) ------ nÌH$mV {Zìdi {dH«$s 100 ‘mZbr OmVo.
4) MVAT Xo¶ ------ Amho.
5) gH$mamË‘H$ IoiVo ^m§S>db Ooìhm Mmby ‘mb‘Îmm ------ nojm A{YH$ AgVo.
6) g§JUH$ gm°âQ>doAa ------ pñWa ‘mb‘Îmm Amho.
7) IoiVo ^m§S>db H$mT>VmZm gwajm VaVyX hr {Zìdi Mmby ‘mb‘Îmo‘ܶo ------ H$aVmV.
8) {Zìdi Z’$m ------ Xe©dVmo.
9) dmQ>bobm bm^m§e ------ {H«$¶oVrb amoI àdmh Amho.
10) {dH«$s dmhVyH$ IM© hm ------ IM© Amho.
11) ‘mbgmR>m hm ------ Mmby ‘mb‘Îmm Amho.
12) ^mJ ^m§S>db + ------ = ^mJYmaH$ {ZYr.

~) Imbrb {dYmZo MyH$ H$s ~amo~a Vo {bhm (H$moUVohr Xhm) … (10)

1) Jdmj àgmYZ hm ’$gdUwH$sMm (Fraud) àH$ma Amho.
2) ‘mbgmR>çmMm J¡aì¶dhma hm e³¶Vmo ^mJYmaH$ H$aVmV.
3) {heo~VnmgUrMm H$m¶©H«$‘ hm boIr Agmdm.
4) dmCMa ì¶dhmamMr g˶Vm nQ>dVo.
5) MmMUr VnmgUr åhUOo gd© ‘yi Zm|XrMr nwñVHo$ VnmgUo hmo¶.
6) H$m¶©aV H$mJX (Working Papers) hr {heo~VnmgUrgmMr ‘mb‘Îmm Amho.
7) à‘mUZ ho {heo~VnmgUrMo gma Amho.
8) Q>rq‘J Am{U b°S>tJ (Teeming & Landing) hm ’$gdUwH$sMm (Fraud) EH$
àH$ma Amho.
9) VmpÎdH$ MwH$m§‘wio VoarO (Trial Balance) OwiUma Zmhr.
10) {heo~VnmgUr Pmbobr ImVr MwH$m qH$dm ’$gdUyH$snmgyZ ‘wº$ AgVmV.
11) MmMUr VnmgUr åhUOo gd© ‘yi Zm|XrMr nwñVHo$ VnmgUo hmo¶.
12) g˶mnZm‘wio ‘mb‘ÎmoÀ¶m J¡admnamnmgyZ g§ajU {‘iVo.

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 6 Q. P. Code : 36801

2. XogmB© {b{‘Q>S>oMo Vmio~§X Imbrbà‘mUo : (15)

Vmio~§X
Xo¶Vm 2017 2018 ‘mb‘Îmm 2017 2018
gm‘mݶ ^mJ ^m§S>db 3,00,000 4,00,000 Zmdbm¡{H$H$ 1,15,000 90,000
8% AJ«h¸$ ^mJ 1,50,000 1,00,000 O{‘Z d B‘maV 2,00,000 1,70,000
^m§S>db
gmYmaU {ZYr 40,000 70,000 g§¶§Ì 80,000 2,00,000
Z’$m-VmoQ>m ImVo 30,000 48,000 ‘mbgmR>m 77,000 1,09,000
{d{dY YZH$mo 55,000 83,000 {d{dY F$UH$mo 1,60,000 2,00,000
XoUr hþ§S>çm 20,000 16,000 ¶oUo hþ§S>çm 20,000 30,000
Am¶H$a VaVyX 40,000 50,000 ~±H$ 10,000 8,000
àñVm{dV bm^m§e 42,000 50,000 amoI 15,000 10,000
EHy$U 6,77,000 8,17,000 EHy$U 6,77,000 8,17,000
A{YH$ ‘m{hVr :
1. g§¶§Ì Am{U O{‘Z d B‘maVrda AZwH«$‘o <10,000 Am{U <20,000 Kgmam Amho.
2. 2018 ‘ܶo A§V[a‘ bm^m§e <20,000 dmQ>bm.
3. 2018 ‘ܶo Am¶H$a <35,000 ^abm.
2018 gmR>r E.Eg.-3 à‘mUo (Aà˶j nÜXVrZo) amoI àdmh nÌH$ V¶ma H$am.
qH$dm
2. EH$ H$maImZm à{Vdf© 32,000 ZJ CËnmXZ d {dH«$s H$aVmo. {dH«$s à{V ZJ <50/- n[a춶 nÌH$ (15)
Imbrbà‘mUo :
H$ÀMm ‘mbgmR>m 60%
‘Oyar 15%
Cnar n[a춶 10%
85%
Z’$m 15%
{dH«$s ‘yë¶ 100%
A{YH$ ‘m{hVr Imbrbà‘mUo :
1. IaoXr, CËnmXZ d {dH«$s df©^a g‘à‘mUmV Agob.
2. F$UH$mo 2 ‘{hݶmÀ¶m CYmarda.
3. YZH$mo 11/2 ‘{hݶmMr CYmar XoVmV.
4. ‘Oyar d Cnar n[aì¶ 1/2 ‘{hݶmÀ¶m A§VamZo {Xbm OmVmo.
5. amoI a¸$‘ Ioi˶m ^m§S>dbmÀ¶m 10% R>odUo.
6. H$ÀMm ‘mbgmR>m 1 ‘{hݶmMm Amho.
7. ‘mb à{H«$¶oMm H$mbmdYr 1 ‘{hZm Amho.
8. V¶ma ‘mbgmR>m 3 ‘{hݶmMm Amho.
9. F$UH$mo {dH«$sda H$mT>mdo.
H$maImݶmMo IoiVo ^m§S>db nÌH$ V¶ma H$am.

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 7 Q. P. Code : 36801

3. Imbrb gZ {b{‘Q>oS>Mm 31 ‘mM©, 2018 Mm Vmio~§X H$mT>m … (15)

31 ‘mM©, 2018 Mm Vmio~§X
Xo¶Vm < ‘mb‘Îmm <
gm‘mݶ ^mJ ^m§S>db 2,00,000 g§¶§Ì 5,92,000
10% AJ«h¸$ ^mJ ^m§S>db 3,60,000 Jw§VdUyH$ 2,24,000
gmYmaU {ZYr 1,40,000 ‘mbgmR>m 2,02,000
15% H$O© amoIo 2,40,000 ¶oUo hþ§S>çm 40,000
Xo¶ 2,44,000 F$UH$mo 98,000
~±H$ A{YH$f© 40,000 amoI Am{U ~±H$ 76,000
Am¶H$a VaVyX 36,000 Z’$m-VmoQ>m ImVo 28,000
EHy$U 12,60,000 EHy$U 12,60,000
df©^amVrb {dH«$s <14,00,000; T>mo~i Zâ¶mMo à‘mU 25% Ama§^rMm ‘mbgmR>m <2,18,000.
H$anyd© {Zìdi Z’$m <4,20,000
darb ‘m{hVrZwgma Imbrb AZwnmV H$mT>m :
1) Mmby AZwnmV.
2) Vab AZwnmV.
3) ‘mbgmR>m CbmT>mb AZwnmV.
4) EHy$U ^m§S>dbmdarb naVmdm.
5) H$O© ^m§S>db AZwnmV.
gyMZm : Cä¶m àménmVrb nÌH$ Ano{jV Zmhr.
qH$dm
3. Imbrb 31 {S>g|~a, 2016, 2017 Am{U 2018 Mm Vmio~§X Amho : (15)
Xo¶Vm 2016 2017 2018 ‘mbgmR>m 2016 2017 2018
^mJ 4,00,000 3,40,000 3,00,000 pñWa 4,00,000 3,60,000 2,80,000
^m§S>db ‘mb‘Îmm
gmYmaU 1,00,000 1,00,000 1,00,000 ‘mbgmR>m 1,60,000 1,50,000 1,35,000
{ZYr
VmaU 60,000 60,000 50,000 F$UH$mo 2,00,000 1,60,000 1,40,000
H$O©
AVmaU 1,60,000 1,80,000 1,40,000 H$O© d 1,00,000 80,000 60,000
H$O© CMb
YZH$mo 1,60,000 90,000 45,000 amoI d ~±H$ 20,000 20,000 20,000
EHy$U 8,80,000 7,70,000 6,35,000 EHy$U 8,80,000 7,70,000 6,35,000
darb ‘m{hVrdéZ H$bXe©H$ nÌH$ ~Zdm.

4. A) MyH$ åhUOo H$m¶? MwH$m§Mo {d{dY àH$ma H$moUVo? (07)

~) Am°{S>Q> H$m¶©aV H$mJX (Audit Working Papers) ‘ܶo H$emMm A§V^m©d hmoVmo? (08)
qH$dm

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 8 Q. P. Code : 36801

4. Imbrb JmoîQ>tMo à‘mUZ H$go H$amb? (15)

A) amoI {dH«$s.
~) Jw§VdUyH$sda H$‘dbobo ì¶mO.
H$) Om{hamV.

5. A) {heo~VnmgUrMr C{ÔîQ>ço H$m¶? (07)

~) {heo~VnmgUrgmMo JwU H$moUVo? (08)
qH$dm
5. Imbrb JmoîQ>tMo g˶mnZ H$go H$amb? (15)
A) VmaU H$O©.
~) ‘mbgmR>m.
H$) Xo¶ ImVr.

6. A) AZwnmV åhUOo H$m¶? AZwnmV {díbofU C{ÔîQ>ço H$m¶? (10)

~) amoI a¸$‘oMo {d{dY J¡a ì¶dhma d Anhma H$moUVo? (10)
qH$dm
6. A) g§{já {Q>nm {bhm (H$moUVohr XmoZ) : (10)
1. VwbZmË‘H$ {dÎmr¶ nÌH$.
2. nw§Or à‘mU AZwnmV.
3. Jw§VdUyH$ {H«$¶oVrb amoI.

~) g§{já {Q>nm {bhm (H$moUVohr XmoZ) : (10)

1. {heo~VnmgUrMo H$mJXnÌo.
2. Z¡{‘{ÎmH$ VnmgUr.
3. A§VJ©V {Z¶§ÌUmMo C{ÔîQ>ço.

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