b) X company Ltd. issued 5000, 9% debenture of Rs.

100 each at 10% discount and

Sai Global Secondary School redeemable at 10% premium after 5 years.
Siddharthanagar-8, Rupandehi Required: Journal entries for issue and redemption of debenture.
2nd Terminal Examination- 2081 14. The following trial balance of Apple company is given on Dec. 31, 2022.
Class: XII (Day) Sub: Accountancy F.M: 75 Particular Debit Rs. Credit Rs.
Time: 3:00 hours (Set-B) P.M: 27 Purchase 300000
Candidates are required to give their answer in their own words as far as practicable. The Debtors 100000
Fixed assets 600000
figures in the margin indicate full marks.
Advertisement 40000
Group A (Very short answer questions) Prepaid wages 80000
Attempt all the questions: (11×1═11) Rent 90000
1. What do you mean by public company? Cash 60000
2. Write the meaning of bin card. Sales 600000
3. Write any two importance of cost accounting. Creditors 100000
4. Write the meaning of preference share. Share capital 400000
5. Mention the classification of overhead on the basis of behavior. Commission 10000
6. Write the meaning of piece rate system of wage payment. Beginning retained earning 160000
7. What is computerized accounting ?
Total 1270000 1270000
8. Calculate cost of goods sold from the following information:
Sales ………….. Rs.100000, opening stock ……..Rs.25000 Adjustments:
Closing stock …………12000 wages ………………….Rs.6000 i) 10% depreciation is to be charged on fixed assets.
Purchase ………………Rs.50000 ii) Unpaid rent Rs.10000
9. Define cash flow statement. iii) Prepaid wages Rs.15000 was expired.
10. If total ordering cost is Rs.400, annual requirement is 10000 kg and EOQ is 2000 kg. iv) Proposed dividend 10%
find out ordering cost per order. Required: Worksheet
11. Write the meaning of controllable overhead cost. 15. Give the meaning of material control. Mention any two advantages of centralized
Group B (Short answer questions) purchasing.
Attempt all the questions: (8×5═40) 16. a)The following information is provided
12. Prayash co. Ltd issued 8000 equity shares of Rs.100 each payable in the following i) Net profit shown by financial account Rs. 45000
basis: ii) Depreciation overcharged in cost accounting Rs. 10000
On application …………………. Rs. 25 iii) Under valued of opening stock in financial accounting Rs. 8000
On allotment ……………………. Rs. 35 iv) Interest on investment credited in financial accounting Rs. 11000
On first & final call ……………. Rs. 30 v) Work overhead absorbed in cost accounting Rs.10000 and in financial
The application were received for all the share and all money were received accounting Rs. 12000.
accordingly. However, a shareholder Mr. Sanam who was allotted 500 shares did not Required: cost reconciliation statement.
pay on allotment and call money. Another shareholder, Mrs. Nisha who was allotted b) The time allowed to produce 80 units of output is 2hours. A worker produced 400
300 shares paid full value of shares along with allotment. units during the month. Wages rate per hour is Rs.800. calculate total wages of worker.
Required: Journal entries. 17. The trial balance of the company as on 31st Dec. 2020 is given below:
13. A) P company purchased the following assets and liabilities of Q company at an Particular Debit Rs. Particular Credit Rs.
agreed price of Rs. 540000. Land & building 400000 Creditors 90000
Plant & machinery Rs120000 Debtors Rs.50000 Plant & machinery 300000 p/l appropriation a/c 20000
A/C payable Rs30000 prepaid salary Rs.20000 Opening stock 125000 share capital 600000
Land & building Rs.300000 Purchase 657000 debenture 100000
P company paid the purchase price by issuing shares of Rs.100 each at 10% discount. Carriage 25000 sales 1170000
Required: Journal entries. Debtors 124000 transfer fee 12000
 Bank 56000 Sales 420000
Investment 100000 Sales return 10000
Wages 40000 Debtors & creditors 140000 60000
Salaries 145000 Commission 5000 15000
General expenses 20000 Wages 6000
1992000 1992000 Stationery 4000
Additional information: Other office exp. 7000
i) Outstanding salaries Rs. 25000 Bad debts 8000
ii) Closing stock Rs.110000 Share capital 200000
iii) Provide 5% on debtors for doubtful debts Bank balance 135000
iv) Depreciation on machinery @ 10% p.a. Total 695000 695000
Required: a) Trading account b) Profit & loss account. Additional information:
18. The inventories position of a company of last month are given below: i) Closing stock Rs.44000
Chaitra 1: opening inventory 650 units @Rs.8 ii) Outstanding interest Rs.2000
Chaitra 6: purchase 500 units @Rs.9 iii) Depreciation on fixed assets @20%
Chaitra 15: purchase 800 units @Rs.10 iv) Provision for income tax Rs.20%.
The physical inventory counts at the end of the month shows 550 units on hand. The Required: a) statement of profit or loss based on NFRS b) statement of financial
company uses periodic inventory system. position based on NFRS
Required: cost of goods sold and value of ending inventory under weighted average OR
and FIFO method. a) Multi- step income statement b) Balance sheet
19. Explain the importance of computer system in accounting. 22. Cost information of a manufacturing company is given below
Group C( Long answer questions) Opening stock: closing stock:
Attempt all the questions: (3×8═24) Raw materials…Rs.100000 Raw materials……Rs.80000
20. The balance sheet of A company as on Ashadh 31 are as follows: Finished goods…2000 units Finished goods…3000 units
Liabilities 2060 2061 Assets 2060 2061 Purchased of raw materials Rs.400000 Wages Rs.100000
Share capital 750000 900000 Plant & machinery 800000 1140000 Indirect materials Rs.30000 sales of scrap Rs.5000
Share premium 75000 90000 Investment 100000 60000 Administrative overhead 10% of work cost selling overhead Rs.5 per unit
Retained earning 150000 225000 Inventories 75000 150000 Factory insurance Rs.20000
8%debenture 150000 75000 Debtors 221000 148000
Production 11000 units profit 10% of sales
Creditors 210000 273000 Prepaid exp. 4000 2000
O/S expenses 15000 12000 Cash & bank 150000 75000 Required: cost sheet
Total 1350000 1575000 1350000 1575000 'BEST OF LUCK'
Additional information:
i) Sales for the year 2063 Rs.900000
ii) Cost of goods sold Rs.520000
iii) Administrative expenses Rs.125000
iv) Selling & distribution exp. Rs.25000
v) Investment was sold at a profit of Rs.15000
vi) Purchased plant & machinery of Rs.465000
vii) Dividend distributed Rs.45000
Required: cash flow statement
21. Following trial balance on 31st Ashadh 2078 given as:
Particular Debit Rs. Credit Rs.
Fixed assets 200000
Purchase 180000