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    Accountancy Practical 2023-24-1

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    uzmazeeshan10
    This document contains an accounting exam with two questions. Question 1 provides the balance sheets of ABC Ltd. for 2023 and 2022 and asks to prepare a cash flow statement. Question 2 has two parts: part a asks to calculate opening and closing inventory values from given information, and part b asks to calculate quick and current ratios from financial information provided. The document tests accounting skills like preparing cash flow statements, calculating ratios, and using balance sheet and income statement information to solve accounting problems.

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    Accountancy Practical 2023-24-1

    Uploaded by

    uzmazeeshan10
    26 views2 pages
    This document contains an accounting exam with two questions. Question 1 provides the balance sheets of ABC Ltd. for 2023 and 2022 and asks to prepare a cash flow statement. Question 2 has two parts: part a asks to calculate opening and closing inventory values from given information, and part b asks to calculate quick and current ratios from financial information provided. The document tests accounting skills like preparing cash flow statements, calculating ratios, and using balance sheet and income statement information to solve accounting problems.

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    ACCOUNTANCY PRACTICAL 2023-24-1

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    This document contains an accounting exam with two questions. Question 1 provides the balance sheets of ABC Ltd. for 2023 and 2022 and asks to prepare a cash flow statement. Question 2 has two parts: part a asks to calculate opening and closing inventory values from given information, and part b asks to calculate quick and current ratios from financial information provided. The document tests accounting skills like preparing cash flow statements, calculating ratios, and using balance sheet and income statement information to solve accounting problems.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    26 views2 pages

    Accountancy Practical 2023-24-1

    Uploaded by

    uzmazeeshan10
    This document contains an accounting exam with two questions. Question 1 provides the balance sheets of ABC Ltd. for 2023 and 2022 and asks to prepare a cash flow statement. Question 2 has two parts: part a asks to calculate opening and closing inventory values from given information, and part b asks to calculate quick and current ratios from financial information provided. The document tests accounting skills like preparing cash flow statements, calculating ratios, and using balance sheet and income statement information to solve accounting problems.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    AISSCE (2023-24)

    Radhaballabh Public School, Agra


    Subject- Accountancy (055)
    Note-1 Attempt all the questions.
    -2 Marks are indicated against each question.
    Time allowed: 1 hour Maximum Marks : 12 marks
    Date;- 04/01/2024
    st
    Q1. Following are the Balance Sheets of ABC Ltd. as at 31 March, 2023 and 2022.
    ABC Ltd.
    BALANCE SHEET
    Particulars Note 31st March, 31st March,
    No. 2023 (Rs.) 2022 (Rs.)
    I.EQUITY AND LIABILITIES
    1. Shareholders’ Funds
    (a) Share Capital 24,00,000 22,00,000
    (b) Reserve and Surplus 1 6,00,000 4,00,000
    2. Non-Current Liabilities
    Long-term Borrowings 4,80,000 3,40,000
    3. Current Liabilities
    (a) Trade Payables 3,58,000 4,08,000
    (b) Short-term Provisions 1,00,000 1,54,000
    Total 39,38,000 35,02,000
    II. ASSETS
    1. Non- Current Assets
    Property, Plant and Equipment and Intangible Assets
    (i) Property, Plant and Equipment 2 21,40,000 17,00,000
    (ii) Intangible Assets 3 80,000 2,24,000
    2. Current Assets
    (a) Current Investments 4,80,000 3,00,000
    (b) Inventories 2,58,000 2,42,000
    (c) Trade Receivables 3,40,000 2,86,000
    (d) Cash and Cash Equivalents 6,40,000 7,50,000
    Total 39,38,000 35,02,000
    Notes to Accounts
    Particulars 31st March, 31st March,
    2023 (Rs.) 2022 (Rs.)
    1.Reserve and Surplus
    Surplus, i.e., Balance in Statement of Profit & Loss 6,00,000 4,00,000
    2.Property, Plant and Equipment
    Machinery 25,40,000 20,00,000
    Less: Accumulated Depreciation (4,00,000) (3,00,000)
    21,40,000 17,00,000
    3.Intangible Assets
    Goodwill 80,000 2,24,000
    Additional Information:
    During the year, a piece of machinery costing Rs. 48,000 on which accumulated depreciation was Rs.
    32,000, was sold for Rs. 12,000.
    Prepare Cash Flow Statement. (6 marks)

    1
    Q2(a). Calculate the value of opening inventory and closing inventory from the following
    information:

    Revenue from Operation- Rs. 4,50,000; Gross Profit was 25% above cost; Opening inventory was Rs.
    10,000 more than the closing inventory; Inventory Turnover Ratio was 6 times.

    (b). From the following information, calculate Quick Ratio and Current Ratio:

    (Rs.) (Rs.)
    Total Debt 12,00,000 Long-term Borrowings 4,00,000
    Total Assets 16,00,000 Long-term Provisions 4,00,000
    Fixed Assets 6,00,000 inventories 1,90,000
    Non-current Investments 1,00,000 Prepaid Expenses 10,000
    Long-term Loans and Advances (Debit) 1,00,000
    (3 + 3 marks)

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