INSTITUTE OF PUBLIC ENTERPRISE

Shamirpet Campus: Hyderabad-500101

POST GRADUATE PROGRAMMES

Sample Trail Run End Trimester Examinations: January 2022

Programme : PGPs Trimester : I

Subject : Financial Accounting Time : 2 hours
Code : PGP2022104STR Max Marks : 30
Note: Answer all questions,
Section – I (6X1 = 6 Marks)

Q.NO QUESTION BTL C O*

Q. 1 Trial Balance 1 1
Q. 2 Going concern concept 1 1
Q. 3 Accounting Equation 1 1
Q. 4 Balance sheet 1 2
Q. 5 Gross profit ratio 1 3
Q. 6 Cash flow 1 3

Section No: II (4X 3 = 12 Marks)

Q.NO QUESTION BTL CO

Q. 7a Explain the term Accounting. 2 1

OR
Q. 7b Discuss in detail IFRS. 2 1

Q. 8a Explain Fundamental accounting assumptions. 2 1

OR
Q. 8b Explain the differences between Fund flow statement and cash flow 3 3
statement.
Q. 9a Explain the relevance of short-term solvency ratios. 3 3
OR
Q. 9b Pass the journal entries of Excel Pvt Ltd for the month of September 1
2020 from the following:
i) Sold goods to Mr Arvi ₹ 4,00,000 4
ii) Depreciation on Building ₹1,50,000
iii) Salaries ₹15,25,000

Q. 10a Calculate Opening stock and Closing stock from the following 4 1&3
information of Park Hotels Ltd.
 Sales ₹ 5,00,000; Gross profit 20 per cent of sales; Stock turnover is
five times. The closing stock was more by ₹ 4,000 than the opening
stock.
OR
Q. 10b What is the treatment of closing stock and Outstanding Salaries while 4 2&3
preparing financial statements, when they are given in the i) Trial
balance and ii) Adjustment

Section – III (2 X 6 = 12 Marks)

Q.NO QUESTION BTL CO

Q. 11a Explain in detail accounting concepts and conventions. 3 1

OR
Q. 11b Explain in detail classification of accounts with the help of suitable examples. 3 1
Q. 12a Prepare Statement of changes in Working capital from the following Balance sheets. 4 3

2019 2020 2019 2020

Equity and
₹ ₹ Assets ₹ ₹
Liabilities

Share Capital 10,00,000 10,00,000 Fixed assets 27,00,000 13,50,000

Debentures 200,000 200,000 Inventories 1,25,000 150,000
Trade payables 130,000 150,000 Trade 65,000 50,000
receivables
Retained earnings 150,000 200,000
Cash 40,000 50,000
Outstanding 20,000 30,000
expenses
Provision for
30,000 20,000
income tax

15,30,000 16,00,000 15,30,000 16,00,000

OR

Q. 12b Draw the Balance sheet format of a company as per Schedule III of the Companies Act, 2013. 4 2