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115570-114300D.A.V. S.K.V.B. SECONDARY SCHOOL (Jawalakhel, LalitpurDashain AssignmentClass: XII Subject : ACCOUNTANCYIssue Of Shares1. F Company Limited invited application for 6,000 shares of Rs. 100 each at Rs.90 payable as under:On application Rs.30 On allotment Rs.40 On first and final call – Rs.20Applications were received for 16,000 shares and the allotment was made:To the applicants of 6,000 sharesNillTo the applicants of 8000 shares50%To the applicants of 2,000 sharesFullIt was decided to utilize excess application money in part payment of allotment. All the money was duly received except a share holder, Hukam who applied for 200 shares, failed to pay allotment and call money. The BOD decided to forfeit these shares. Required: Journal for a) Application b) Allotment c) First and final call d) Forfeiture.Ans: Call in arrears: on allotment-Rs.1000, on first and final-Rs 20002. B Company Limited invited application for 10,000 shares of Rs. 100 each payable as under:On application Rs.20 On allotment Rs.40 On first and final call Rs. 40Applications were received for 20,000 shares. The allotment was made as follows: To the applicants of 4,000 sharesNillTo the applicants of 12,000 shares50%To the applicants of 4,000 sharesFullIt was decided to utilize excess application money in part payment of allotment. All the money was duly received except a share holder to whom allotted 150 shares from pro-rata group failed to pay allotment and call money. The BOD decided to forfeit these shares. Required: Journal for a) Application b) Allotment c) First and final call d) Forfeiture.Ans: Call in arrears: on allotment-Rs.3000, on first and final-Rs 60003. C Company Limited invited application for 5,000 shares of Rs. 10 each at 10% premium payable as under:On application Rs.3 On allotment Rs.4(Including premium) On first and Rs.2Second and final call Rs. 2Applications were received for 8,000 shares. The allotment was made as follows: To the applicants of 2,000 sharesNillTo the applicants of 6,000 sharesPro-rataIt was decided to utilize excess application money in part payment of allotment. All the money was duly received except a share holder to whom allotted 50 shares failed to pay allotment and call money. The BOD decided to forfeited these shares. Required: Journal for a) Application b) Allotment c) First and final call d) Forfeiture.Ans: Call in arrears: on allotment-Rs.170, on first call Rs.- 100and final-Rs 100Issue Of Shares other than cashType A (When no. of issued shares given)4. Apple Co ltd purchased the following assets and liabilities by issuing 7,000 debentures of Rs.100 each at a discount of 10% per share. Building Rs.4,00,000MechineryRs.2,00,000 FurnitureRs. 1,30,000CustomersRs. 30,000 CreditorsRs. 30,000Outstanding expensesRs. 45,000Short-term loan Rs. 10,000 The company also issued 3,000 debentures of Rs. 100 each at 10% premium each for cash.Required:a) Journal entries for above transactions 5. Ball Co ltd purchased the following assets and liabilities by issuing 5,000 shares of Rs.100 each at a par per share. Land Rs.2,00,000Plant and MachineryRs.1,00,000 FixtureRs. 1,00,000Bills receivableRs. 30,000 Bills payableRs. 50,000Expenses dueRs. 15,000Bank loan Rs. 30,000 The company also issued 1,000 shares of Rs. 100 each at a discount of Rs. 10 each for cash.Required:a) Journal entries for above transactions b) Opening balance sheet after above transaction.Type B(When Purchase price given)6. Goat Co ltd took over the following assets and liabilities of Sheep Co. Ltd. at an agreed purchase price 6,30,000. The purchase consideration was discharged by issuing fully paid up equity shares of Rs. 100 each at 10% discount. Building Rs.4,00,000MechineryRs.2,00,000 FurnitureRs. 1,30,000CustomersRs. 30,000 CreditorsRs. 30,000Outstanding expensesRs. 45,000Short-term loan Rs. 10,000 The company also issued 3,000 shares of Rs. 100 each at 10% premium each for cash. Required:a) Journal entries for above transactions 7. Horse Co ltd took over the following assets and liabilities of Parrot Co. Ltd. at an agreed purchase price 5,00,000. The purchase consideration was discharged by issuing fully paid up equity shares of Rs. 100 each at par. Land Rs.2,00,000Plant and MachineryRs.1,00,000 FixtureRs. 1,00,000Bills receivableRs. 30,000 Bills payableRs. 50,000Expenses dueRs. 15,000Bank loan Rs. 30,000 The company also issued 1,000 shares of Rs. 100 each at a discount of Rs. 10 each for cash.Required:a) Journal entries for above transactions b) Opening balance sheet after above transaction.LIFO8. A company has purchase and issued the materials in following orders. Bhadra 1Opening stock 500 units @ Rs. 10 per unit.Bhadra 3Issued 200 units units.Bhadra 10Purchased 200 units @ Rs. 9 per unitBhadra 15Returned of surplus from a work order 10 units @ Rs. 9.50 per unitBhadra 18Issued 180 unitsBhadra 20Purchased 300 units @ Ra. 90.40 per unitBhadra 21Issued 400 unitsBhadra 21Returned to suppliers 50 units (out of purchase of 21th Bhadra)Bhadra 25Shortage in stock 10 units.Bhadra 28Issued 100 units.Required: Stock ledger under Last-in-First out method. 9.The following particulars are given to you:Jan 1Stock in hand 1,000 units @ Rs. 20 each Jan 2Issued 400 units Jan 3Purchased 200 units @ Rs. 22 eachJan 4Issued 100 unitsJan 5Purchased 200 units at Rs. 23 eachJan 6Returned to store 50 units (issued on 4th Jan)Jan 7Issued 100 unitsJan 8 Issued 50 UnitsJan 10 It was noticed that there was a shortage of 10 unitsRequired: Stock ledger under Last-in-First out method. 10. A company has purchase and issued the materials in following orders. Aswin 1, 2069Opening stock 1200 units @ Rs. 10Aswin 3, 2069Issued 800 units units.Aswin 10, 2069Purchased 600 units @ Rs. 9 per unitAswin 12, 2069Returned of surplus from a work order 40 units @ Rs. 9.50 per unitAswin 15, 2069Issued 180 unitsAswin 18, 2069Purchased 300 units @ Ra. 10.5 per unitAswin 19, 2069Issued 400 units Aswin 20, 206910 units’ loss due to damage. Aswin 22, 2069Issued 400 units.Required: Stock ledger under Last-in-First out (LIFO) method. FIFO11.The following particulars are given to you:Feb 1Stock in hand 5000 units @ Rs. 50 each Feb 5Issued 4000 units Feb 7Purchased 12000 units @ Rs. 52 eachFeb 9Issued 10000 unitsFeb 11Purchased 2100 units at Rs. 53 eachFeb 13Returned to store 500 units (issued on 9th Feb)Feb 15Issued 1000 unitsFeb 17Issued 5000 UnitsFeb 60It was noticed that there was a shortage of 100 unitsRequired: Stock ledger under First-in-First out method. 12. A company has purchase and issued the materials in following orders. Aswin 1, 2070Balance in hand 800 units @ Rs. 10Aswin 3, 2070Issued 300 units units.Aswin 10, 2070Purchased 900 units @ Rs. 9 per unitAswin 12, 2070Returned from a work order 50 units .Aswin 15, 2070Issued 180 unitsAswin 18, 2070Purchased 7 units @ Ra. 11 per unitAswin 19, 2070Issued 200 units Aswin 20, 207030 units’ loss due to damage. Aswin 22, 2070Issued 300 units.Required: Stock ledger under First-in-First out (FIFO) method. Stock Level and EOQ13.The following information in provided to you.Re-order level 2000 units.Re-order quantity 1500 unitsLead time 8 to 10 daysDaily consumption 100 to 200 unitsRequired: Maximum stock level. 14.The following information in provided to you.Re-ordering level 22000 units.Re-order quantity 17000 unitsLead time 12 to 16 daysDaily consumption 1000 to 1200 unitsRequired: Maximum stock level.15. The following information are provided to you:Re- order period : 5-7 weeksConsumption :Maximum 50Kgs per weekMinimum 60 kgs per week Maximum stock level:1,800 kgsRe-order level:1400kgsRequired: Re-order quantity.16. The following information are provided to you:Normal consumption per week:10,000 units.Minimum consumption per week:8,000 units.Re-order period:12 to 20 weeksRequired:i) Re-order level II) Minimum stock level17.The following data are available from the books of a company.Annual requirement : 60, 000Ordering cost per order: Rs. 60Cost per unit: Rs. 50Carrying cost: 10% of average inventory value excluding the Insurance charge of Re. 1 Required:a)EOQb)No of orders. 18.The following data are available from the books of a company.Monthly requirement : 300Ordering cost per order: Rs. 400Cost per unit: Rs. 40Carrying cost: 5% of average inventory value including the Insurance charge of Re. 1 Required a)EOQb)No of orders. c) Total cost at EOQ Labour cost19. The following information are supplied to you.Wage rate per hourRs.15No of working days in a month:26 days Working hour in a day: 8 hoursRequired: Total wages earned under time rate system 20. The following information are supplied to you.Standard rate per hourRs.60Weeks in a month: 4 weeksWorking hour in a week: 50 hoursRequired: Total wages earned under time rate system 21. The following information is supplied to you.Wages rate per hourRs.240No. of day in a month25 daysDaily working hours6 hoursRequired: Total wages earned by a worker under time rate system.22. The following information is supplied to you.Wage rate per hour :Rs10Time taken per unit:2 hours.Unit produced by Mr. Hanuman: 50 UnitsRequired: Total wages earned by a worker under time rate system.23. The following information is supplied to you.Wage rate per hour :Rs120Time taken per unit:3 hours.Unit produced by a worker: 500 Units in a month.Required: Total wages earned by a worker in a month under time rate system.Tender sheet24. A food industry showed the following details of its production for the previous year.Direct materialRs. 250,000 Direct labourRs. 100,000Factory overhead Rs. 50,000 Administrative overhead Rs. 40,000The industry wants to estimate the total cost and selling price for next lot. The costing department estimated the direct cost as following. Direct materials Rs. 50,000Direct labourRs. 40,000Carriage on purchase Rs. 5000Overheads are to be allocated as belowFactory overhead: on the basis of direct labourAdministrative overhead : on the basis of factory cost Profit : 10% of salesRequired: a) Cost sheet for previous yearb) Tender sheet for next lot. 25.The following cost data is obtained from the books of Bidhan Company Ltd. for the year ending 31stChaitra 2067 Direct materials Rs. 40,000 Direct wages Rs. 60,000Factory overhead Rs. 30,000 Office overhead Rs. 26,000Net profitRs. 17,000 Selling and distribution ohs. Rs. 13,000Required:Cost sheet.% of overheads on suitable basis.% of net profit on cost.d)Tender sheet for a job which requires material Rs. 20000, wages Rs.13000 and the rate of overheads and profit same as in 2068. CRS26.The net profit shown by income statement difference with that of net profit shown by cost statement. Upon the comparison of two accounts following differences were noticed: Over valuation of opening stock in financial account Rs. 12,000Interest from investment shown in financial accountRs. 2000Work overhead overcharged in cost accountRs. 2900Income tax provided in financial accountRs. 21,000Required: Reconciliation statement if Cost account reported profit isRs. 48,000. 27. The net profit as per financial account was Rs. 42,000 on reconciliation the following differences were noticed: a)Work overhead under recovered in cost account Rs. 6000b)Interest charged in financial account Rs. 4000c)Opening stock over valued in financial account Rs. 10,000d)A profit of Rs. 5,000 on sale of fixed assets was shown in financial account.Required: Reconciliation between financial and cost account. 28. The profit shown by cost account for the period Rs.36000. Prepare cost reconciliation statement from the following information:ItemsIn cAIn FASelling and distribution overheads4000055000Depreciation1700013000Factory overheads2200022500Closing stock60007500Interest on investment-250029.The net profit shown by income statement difference with that of net profit shown by cost statement. Upon the comparison of two accounts following differences were noticed: Over valuation of closing stock in financial account Rs. 1,000Rent received only shown in financial accountRs. 9000Administrative overhead under charged in cost accountRs. 3200Loss due to fire provided in financial accountRs. 2,000Required: Reconciliation statement if Cost account reported profit is Rs. 1,00,000. 30. The profit and loss a/c showed net profit Rs. 52000 for the year ended. Prepare cost reconciliation statement from the following information:ItemsIn cAIn FAFactory overheads50007000Depreciation57506630Opening stock120009000Closing stock60007500Income tax-2250DASHAIN HOME ASSIGNMENT-2076 Class: XIISubject: EconomicsUse a loose sheet (A4 size paper) separately for each question:With the help of internet, search an article on hyperinflation in Venezuela and write a paragraph presenting your comment on it. Visit and click on current macroeconomic & financial situation (more…) and present a write up on present inflation situation of Nepal. Visit your nearby grocery shops and prepare a list of 15 major items along with their prices of two time period--during Dashain and after one week of Dashain. Write your comment in a paragraph comparing those prices.Visit your nearby shop and prepare an interview of the shopkeeper talking on various aspects of economic and business issues. Stick a photograph of the shopkeeper. Explain about inflation including 'Demand-pull inflation' and 'Cost-push inflation.'BUSINESS MATHSFind the values of x and y if 5x + (3x – y)i = 10 + 2i.If - iy=2-3i2+3i , prove that x2 + y2 = 1.In a town of 50000 populations, 28000 read Gorkhapatra and 5000 read Rising Nepal and 1000 read both. What percentage read neither Gorkhapatra nor Rising Nepal?Let A = {1, 2, 3}. find the relation in A × A satisfying the condition x > yx + y > 1Insert 4 A.M.'s between 8 and 43.Find sum to n terms, the following series: 5 + 55 + 555 +…Reduce the equation slope intercept and double intercept form of 6x+5y=18. Find its slope, x-intercept and y-intercept.Find the equation of the locus of a point, which moves such that its distance from (-1, 3) is always 8.prove thatxyzx2y2z2yzzxxy=x-yy-zz-xyz+zx+xyb+cabc+acaa+bbc=a+b+cx-c2x2+1xyxzxyy2+1yzxzyzz2+1=1+x2+y2+z2Use Cramer's rule to find x, y and z2x – 3y – z = 4x – 2y – z = 1x – y + 2z = 96y + 6z = -18x + 6z = -14x + 9y = 82x3+y=16x+y4=1414.If fixed cost of 20 articles in 500 and variable cost for each article is 40. Find the total cost function? Also find the total cost of 90 articles.15.Find the differential coefficient using first principle:a.12x+3b.2x2 + 3x + 1c.ax+bxd.1xe.x+xf.ax+bx16.A profit-making company wants to launch a new product. It observes that the fixed cost of the new product is Rs. 100000 and the variable cost per unit is Rs. 1000. The revenue function for the sale of x units is given by 200x + 500x2. Find,a.cost functionb.profit functionc.break even functiond.cost at the production level 50e.revenue at production level 50f.profit at production level 5017.Evaluatea.limx→0x+4-2xb.limx→01+2x-1-2xxc.limx→4x2-163x+4-4d.limx→∞xx+1-x18.Discuss the continuity or discontinuity of:fx=2x+2 for x≤53x+12 for x>5 at x=519.A function f(x) is defined as; fx=x2-2xx-2, x≠2k , x=2. Find the value of k so that the function f(x) is continuous at x = 2.For Failures and Absent StudentGroup ARewrite without modulus sign: |3x+5|<4.If a+ib=1+ix1-ix, prove that a2+b2=1.In a survey, it was found that 87% of the people like Dashain festival and 78% like Tihar festival. Find what percent of the people like both festivals.Let A = {1, 2, 3}. Find the relation in A×A satisfying the conditionsy = 2xx + y < 4If A = {-2, -1, 0, 1, 2} and f: A→R is defined by f(x) = x2 + 1, find the range of f.The sum of the three numbers in A.P is 15. The sum of their square is 83, find out the numbers.Sum the series to n terms: 7 + 77 + 777 +...If A=1-23-121andB=233112, find the matrix AB-3I where I is the unit matrix of order 2.Group BProve that: 1+a1111+a1111+a=a2(a+3)Solve the following equations using Cramer's rulex – 2y + 8z = 102x + 3y – 2ez = 1-x – 2y + 4z = 13Group ARewrite without modulus sign: |2x – 5| ≤ 3.If x – iy =2-3i2+3i, prove that x2 + y2 = 1.20 students play football and 16 students play hockey, it is found that 10 students play both games. Find the number of students playing at least one game.Let x = {1, 2, 3, 4} and f: x→y is a function defined by f(x) = 2x + 1, find the range of f.Let A = {1, 2, 3}. Find the relation in A × A satisfying the conditions.x > yx + y = 1Divide 45 into 3 parts which are in A.P. such that the product of the last two is 300.Sum the series to n terms: 4 + 44 + 444 +... If A=1231, show that A2 - 2A - 5I = 0 where I and 0 are 2 × 2 identity and null matrices respectively.Group BProve that: 1+a1a2a3a11+a2a3a2a21+a3=1+a1+a2+a3Solve the following equations using Cramer's rule9y – 5x = 3x + z = 1z + 2y = 2Group ARewrite without using absolute value sign |3 – 5x| ≤ 2If A={-1,-12,0,12,1,32,2} and f: A→R be a function defined by f(x) = 2x + 1, find the range of f.Find the sum of following AS: 5 + 7 + 9 + 11 +...+ 25Insert 3 GM's between214and49.If -10a < 5x + 10 < 5 prove that -4 < x < -1Let A = {1, 2, 3}, find the relation in A × A satisfying the condition x + y < 4 where x, y ∈ A.Find the sum of series: 49 + 44 + 39 +...+ 17 termsThe sum of a series in G.P. whose common ratio is 3 and 728 and the last term is 486, find the first term.Group BProve that: a-b-c2a2a2bb-c-a2b2c2cc-a-b=a+b+c3Solve the following equations using Cramer's rulex + y = 8y + z = 4x + z = 6 THE END ................
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