FINAL ASSESSMENT

NAME: WAZEEMA USMAN

STUDENT ID:10679

FACULTY: SIR SAMEEN

MCQs Answer
1A
2A
3A
4C
5A
6A
7A
8A
9D
10 A
11 D
12 B
13 B
14 B
15 B
a) Statement of cash flow
For the period ended Dec 31 2015
b)
Net income 117.5
Add: Source of fund
Depreciation 100
Increase in account payable 30
Increase in accruals 10
Sub total 140
Less: Uses of fund
Increase in account receivable -60
Increase in inventories -200
Sub total -260 -120
Net cash flow from operating activities -2.5

Cash flow from investing activities

Acquistion of fixed assests -230
Net cash from investing activities -230

Cash flow from financial activities

Increase in notes payable 50
Increase in bonds 174
Payment of commom divident -57.5
payment of preferred divident -4
Net cash from financial activity 162.5

Net reduction in cash and marketable securities -70

Cash and marketable securities beg of the year 80
Caash and marketable securities end of the year 10
 SOLUTION 1
a Alpha corporation
10,000unit sold of 150 eacg PRK 10,000 150 1500000
Spote rate 10,000 140 1400000
Sub total 100000
less storage cost 50,000
profit 50,000

b Ipha corporation
10,000 units sold of 150 each PRK 10,000 150 1500000
Spote rate 10,000 145 1450000
sub total 50000
less storage cost 50,000
No profit or loss 0

c alpha corporation
10,000 unit sold of 150 each PKR 10,000 150 1500000
Spote rate 10,000 140 1400000
profit 100000

SOLUTION 2
Bravo Inc
a Cost of raw material
beg. Inventory
add purchase
less: purchase return
net purchase

b Raw material available for production

less: eng inventory
raw material consumed

prime cost raw material consumed + direct labour

147,000 70,000
Cost of good sold :raw materail consumed +labour cost +overhead cost
147,000 70,000 15300
c Total cost of sales:COGS+Gen administrative exp+selling distribution exp
232,300 8000 7900
 6720
150000
2000
148000

154720
7720
147000

217,000

232,300

248,200