MGT401 - Financial Accounting II Midterm
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MGT401 - Financial Accounting II Midterm
My todays papr
total question were 27
22 msqz n 5 short qes.....
Q01: Differentiate between Benchmark Treatment and Allowed Alternative Treatment for the Borrowing cost (3 marks)
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Q02: Write down the types of stocks for Trading and Manufacturing concerns (3marks)
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Q03: Trade Debts considered as good_ unsecured 11000 Rs
Trade Debts considered doubtful _unsecured 41000 Rs
Provision for doubtful debts 41000 Rs
Then:
You are required to show the above information in Note to the account of Trade (3 marks)
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Q04: Define Current Liabilities. What heads should be included in Current Liabilities? (5 marks)
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Q05: Suppose a Company has
• Partially completed inventory item at the year end
• Expected selling price of the item when completed is 2600 Rs
• A further cost of Rs 500 is required to complete the item
• Expected selling cost of item is Rs 100
Required
a) what will be the carrying value of the inventory item if the cost incurred at date is Rs 1500
b) what will be the carrying value of the inventory item if the cost incurred at date is Rs 2500
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total question were 27
22 msqz n 5 short qes.....
Q01: Differentiate between Benchmark Treatment and Allowed Alternative Treatment for the Borrowing cost (3 marks)
[You must be registered and logged in to see this image.]
Q02: Write down the types of stocks for Trading and Manufacturing concerns (3marks)
[You must be registered and logged in to see this image.]
Q03: Trade Debts considered as good_ unsecured 11000 Rs
Trade Debts considered doubtful _unsecured 41000 Rs
Provision for doubtful debts 41000 Rs
Then:
You are required to show the above information in Note to the account of Trade (3 marks)
[You must be registered and logged in to see this image.]
Q04: Define Current Liabilities. What heads should be included in Current Liabilities? (5 marks)
[You must be registered and logged in to see this image.]
Q05: Suppose a Company has
• Partially completed inventory item at the year end
• Expected selling price of the item when completed is 2600 Rs
• A further cost of Rs 500 is required to complete the item
• Expected selling cost of item is Rs 100
Required
a) what will be the carrying value of the inventory item if the cost incurred at date is Rs 1500
b) what will be the carrying value of the inventory item if the cost incurred at date is Rs 2500
[You must be registered and logged in to see this image.]
Nilofer Bugti- Monstars
- Posts : 585
Join date : 2011-04-11
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