I got 22 MCQs and following long questions. Thanks ning fellows for providing helping material:
** Differentiate between Depreciation and Impairment.
- Opening stock of Raw Material Rs. 10,000
- Closing Stock of Raw Material Rs. 20,000
- Cost of Direct Material Consumed Rs. 50,000
Calculate the Purchases.
- Trade Debts considered as good – unsecured 11,000
- Trade Debts considered as doubtful – unsecured 41,000
- Provision for doubtful debts 41,000
You are required to show the above information in Notes to the account of Trade Debts
** Write down the categories of Current Assets with respect to the Companies Ordinance 1984.
**Following is the balance sheet of a firm at particular date:
|Liabilities and Capital||Rs||Assets||Rs|
Paid up capital
Profit and loss account
Share premium account
Provision for taxation
Investments in Gov. securities.
Calculate the amount of shareholders’ equity
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