62 MCQs FROM PAST PAPERS
Raw Material – Opening Stock 10,000
Raw Material – Purchases 2,000
Raw Material – Closing Stock 3,000
Packing Material – Opening Stock 4,000
Packing Material – Purchases 5,000
Packing Material – Closing Stock 6,000
Based on the above information you are required to calculate the following:
· Cost of Raw Material Consumed
· Cost of Packing Material Consumed
10 % Debentures of Rs. 80,000 are shown in trial balance. How it will be shown in financial statements? Also mention why a company issues debentures.
Steps of formation of Private Company
Financial year decided by partnership agreement is 1st July to 30th June. Mr. Ali is partner and having a capital of Rs. 1,500,000 on July 1st 2007 and he
introduced more capital on August 1st 2007 Rs. 10,000 on April 1st 2008, Rs.500,000 and on June 1st 2008 , Rs. 5,000. Mark up rate is 10% p.a. Calculate mark
up on Mr. Ali’s capital for the year ending on 30th June 2008.
Calculate Cost of good sold by given data.
Find depreciation expense and written down value by straight line method
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