For. di@RARY OT +~ 88/2] Fod8 [This question paper contains 8 printed pages.) Sr. No. of Question Paper = Unique Paper Code Name of the Paper Name of the Course Semester Duration : 3 Hours Your Roll No 3005 D : 2922071101 Financial Accounting and Analysis Bachelor of Business Administration (FIA), NEP I Maximum Marks ; 90 Instructions for Candidates Instructions for Candidates 1. Write your Roll No. on the top immediately on receipt of this question paper. 2. All Questions carry equal marks, 3. The Question paper contains 5 Questions. 4, Attempt all Questions. All questions are compulsory. 5. Use of Simple Calculator is allowed. 6. Attempt all sub-parts of a question, if any, together. P.T.O.3005 2 1. Journalise the following transactions in the books of Roshan & Co April 1: Roshan started business with the following: Furniture Rs. 25,000 Cash Rs. 7,50,000 Building Rs. 2,00,000 April 10: Purchased goods at a list price of Rs. 20,000 from Sohan at 15% trade discount against cash. April 15: Sold goods to Mohan at a list price of Rs. 50,000 less 15% trade discount against cheque payment May 20: Received cash for a bad debt written off last month Rs. 45,000. May 23: Paid wages for the installation of the machinery Rs. 2,300. June 10: Goods worth Rs. 5,000 were given as charity while goods worth Rs. 4,000 were lost due to fire. 3005 3 June 10: Charge 15% depreciation of the furniture brought by Roshan in the beginning. June 30: Paid salaries for the month Rs. 83,000. (20) OR (a) What are off balance shect items? Explain the significance of off-balance sheet items in the analysis of financial statements. (10) (b) Show the accounting equation for the following transactions : (10) S.No, | Particulars Amount (Rs.)__] (i) Gopinath started business with cash 25,000 (ii) Purchased goods from Shyam 10,000 (iii) | Sold goods to sohan costing Rs.1,000 1,500 (iv) | Gopinath withdrew from business _ 5,000 i 2. From the following trial balance of Mr. Ram & Co. Ltd., prepare the trading and Profit and loss account and a balance sheet as on 31°! March, 2022 E.T.O..3005 = OR (a) Differentiate between Revenue Expenditure and Capital expenditure in detail. (10) (b) Bricfly explain the money measurement principal and going concern principal with suitable example. (10) Do the trend analysis from the following statement of profit and loss. 3005 4 Debit Balance Amount (Rs.) | Credit Balance ‘Amount ss. calf (Rs.) Opening stock 45,000 | Sales 2,80,000 Purchases 1,50,000 | Return outwards 4,000 Retum Inward 2,500 | Interest received 3,500 Carriage Inward 3,000 | Discount received 300 Cash In hand 76,000 | Creditors 1,05,000 Cash at bank 84,000 _| Bills Payables 5,500 Wages 5,000 | Capital 1,25,000 Printing & Stationery 3,000 Bad debts 1,500 | Insurance 2,000 Investments 40,000 Debtors $0,000 | Commission 200 | Interest 1,200 Repairs 350 Telephone 750 Carriage outwards 200 Motor Car 30,500 Bills receivables 28,100 Total 5,23,300 | Total 5,23,300 Adjusiments : G) Further bad debts of Rs. 1000. Create a provision on debtors @5%. (ii) Interest received on investments @5%. (iii) Wages Outstanding Rs. 300. (iv) Depreciation charged on motor car @12%. Closing stock Rs. 23,000. (20) Particulars 31° March | 31 March 2021 __| 2022 1 Income Revenue fram operations (Net Sales) | 12,00,000 10,00,000 Other Income 7 11,000 10,000 ‘Total Income 7 12,11,000 10,10,000 Tl. Expenses Purchases of stock-in-trade 6,00,000 5,00,000 Change in inventories of stock-in-trade | 48,000 40,000 Employee benefit expenses 98,000 80,000 Other expenses 34,000 | _ 25,000 Total Expenses _ 7,80,000_ 6,45,000 | I Profit (ll) ce 4,31,000 3,65,000 (20) OR (a) Explain the difference between ‘Convergence’ and ‘Adoption’ of International Financial Reporting Standards (IFRS). Discuss the benefits of achieving convergence with IFRS to the industries. (0) BLO3005 6 (b) briefly explain the features of any two Ind-AS converged by India corresponding to IFRS and TAS. (0) 4. Calculate quick ratio, proprietary ratio, Accounts receivables turnover ratio and Gross profit ratio from the following information : Balance Sheet as on 31% March 2022 Particulars = Amount (Rs.) I. Equity and Liabilities 1. Shareholders’ Funds a) Share Capital 13,00,000 2. Non-Current Liabilities | Long-term borrowings 9,00,000 3. Current Liabilities a) Short term Borrowings 2,00,000 b)_ Trade Payables 10,00,000 Total Liabilities 34,00,000. IL. Assets 1. Non-Current Assets a) Tangible assets 14,00,000 b) Long term investments 2,50,000 2. Current Assets a) Inventories 3,50,000 b) Trade receivables 12,00,000 ©) Cash and cash equivalents 2,00,000 Total Assets 34,00,000 Additional Information : 3005 7 Net Sales for the year ending 31% march 2022: Rs. 50,00,000 Net credit sales: Rs. 25,00,001 10 Cost of Goods Sold: Rs. 35,00,000 OR (20) (a) Prepare cash flow from operating activities from the following information : Particulars 31" March [31° “March oe | Surplus Galance ia Satement of Profitand Loss) | 1,55,000 1,00,000 | | Provision for tax 15,000 15,000 ‘Trade Payables 81,000 78,000 Current Assets 1,20,000 90,000 | Fixed assets 5,00,000 4,30,000 | Accumulated depreciation 15,000 . { Additional information : (i) Tax paid during the year Rs. 15,000 (ii) A machine costing Rs.50,000 with an accumulated depreciation of Rs. 30,000 is sold at 10% profit. (10) (b) Highlight the benefits of having generally accepted accounting principles in the globalised world. (10) BT.O..3005 8 5. Write short notes on any two of the following : (a) Information needs of different users of financial statements (b) Business entity concept (c) Tools of financial statement analysis (d) Director’s report (e) Altman 7, score (5*2=10) (200)