MGT101 VU Current Midterm Fall 2012 Paper 9 December 2012

MGT101 – Today Paper [08-DEC-2012]

Total MCQ = 22 (1 Marks each)
Total Short Questions = 4 (3 Marks each)
Total Long Questions = 1 (5 Marks each)

– A Creditors Ledger showing Debit side total Rs.45,000, and Cedit side total Rs.40,000…. explain the, can this be possible, why or why not ? (3 marks)

– Some narration were given, we have to explain, which of them will be ADDED BACK or DEDUCTED from pass book. (3 marks)

– Pass the double entries: (3 marks)
1) Issued Direct Material to the production area
2) some material got back to to stock from factory area.

– Preparation of Balance Sheet. (3 marks)

– Depreciation Charge Calculation (5 marks)

Another Paper:

Total MCQ = 22    (Each of 1 Marks)

Total Short Questions = 3 (Each of 3 Marks)

Total Long Questions = 3 (Each of 5 Marks)

Purchase handling cost to be calculated — 3 marks

There were some errors to be rectified into cash account — 3 marks

Cash account and pass account entries were to be rectified (add or less) — 3 marks

Gross profit were to be calculated from given equation — 5 marks

Another Paper:

1. A building ledger account was given and entries posted in that ledger were wrong which was indicated via details in ledger particulars at both side. we had to rectify the ledger and remade it.

2. different heads were there and had to calculate C.O.G.S.

3. Disposal of fixed asset entry had to pass and had to show profit/loss via calculation. all details were in a question.

4. Bank reconciliation statement had to make. favourable balance in pass book were given and some entries were there to reconcile the account.

5. A/R ledger balances were given. Credit side balance was given heavier than debit side balance. they asked if it can happen? whether yes or no elaborate?


these were the subjective 🙂 ..hope will help those who still have to attempt MGT101 midterm.