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MGT401 VU Current Midterm Fall 2012 Paper 9 December 2012

I got 22 MCQs and following long questions. Thanks ning fellows for providing helping material:

** Differentiate between Depreciation and Impairment.

**If:

  • Opening stock of Raw Material Rs. 10,000
  • Closing Stock of Raw Material Rs. 20,000
  • Cost of Direct Material Consumed Rs. 50,000

Then:

Calculate the Purchases.

**If:

Rs.

  • Trade Debts considered as good – unsecured                    11,000
  • Trade Debts considered as doubtful – unsecured             41,000
  • Provision for doubtful debts                                              41,000

 

Then:

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
Authorized Capital

Paid up capital

Revenue reserves

General Reserves

Profit and loss account

Share premium account

Debentures

Provision for taxation

Creditors

1,000,000

500,000

75,000

75,000

         60,000

40,000

100,000

25,000

25,000

Fixed assets

Current Assets

Investments in Gov. securities.

500,000

300,000

100,000

Total

900,000

Total

900,000

Required:

Calculate the amount of shareholders’ equity

 

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