Escolar Documentos
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Cultura Documentos
Question
No.
Answer No.
Question
No.
Answer No.
16
17
18
19
20
21
22
23
24
10
25
11
26
12
27
13
28
14
29
15
30
True
True
False
False
31' ^A&
^B&
^C&
^D&
-
-
-
-
32' ^A&
^B&
^C&
^D&
Manufacturing overheads
Prime cost
Prime cost
Manufacturing overheads
Dr 1800
1800
Dr
4000
4000
Dr
Cr
300
300
35'
^&
Specific purpose
Presenting for managers and
^& governments
etc. on special requirement
^& It is not compulsory
^&
38' ^& The less value of cost or net realizable value of inventories
^& Recording revaluation value of assets
39' - Anura
Chamara
40' - Anura
Chamara
B - True
C - False
D - False
Dr 150 000
Dr 50 000
Cr
200 000
Decrease
Decrease
50' ^& D
^& Since NPV of the project is positive
[ See page 2
-2-
1' (1)
Note
(2)
1 500
^700&
800
3 965
^RsZ000&
120
02 - Profit before tax has been calculated after deducting following expenses
^RsZ000&
EPF expenses
300
ETF expenses
60
Loan interest ^100 80& 100
PPE Depreciation
^80 150 500 420& 1150
Audit fees
60
Directors fees
175
Wiskam Plc
Statement of changers equity for the year ended 31.03.2015
Balance as at 01/04/2014
Total comprehensive income
treasure to General reserve
Capitalizing reserve
Dividend paid
Wiskam Plc
Statement of Profit or Loss and Other comprehensive income
for the year ended 31.03.2015
^RsZ000&
Note
19 300
Sales
Cost of sales
^11 600&
Gross profit
7 700
01
120
Other income
7 820
180
Distribution expenses
3 745
Administration expenses
Other expenses
330
^4 435&
Financial expenses
180
02
3 385
Profit before tax
^220&
Income tax
3 165
Profit for the year
1 500
^RsZ000&
-3
(3)
Note 03 -
Wiskam Plc
Statement of Financial Position as at 31.03.2015
^RsZ000&
Assets (
Note
Non current Assets (
Property, plant and equipment
03
24 170
Current Assets (
Inventory
04
350
Trade receivable ^1200 - 120&
1 080
Pre-paid advertisement
150
Cash and cash equivalents
895
2 475
26 645
Equity and liabilities
Stated capital ordinary shares
12 000
Reserves
Revaluation reserve
1 500
General reserve
300
Retained profit
7 865
9 665
21665
Non current liabilities
12% bank loan
Leasing creditors
1 600
600
Current liabilities (
Trade payable
Accrued EPF
Accrued ETF
Accrued income tax
Leasing creditors
Bank overdraft
Accrued bank loan interest
1 650
500
60
45
300
145
80
Property, plant and equipment
Cost (
Land
Balance as at 01.04.2014
Revaluation
Transfer of accumulated
depreciation on revaluation
Acquition (purchase)
Balance as at 31.03.2015
16000
^1000&
-
15000
15000
2 200
2 780
26 645
^RsZ000&
Machinery
Total
25800
500
^2000&
4500
4200
400
1000
1500
1500
1900
26200
1500
500
^2000&
-
1260
420
1680
120
80
200
150
150
2880
1150
^2000&
2030
4500
2520
800
1350
24170
[ See page 4
-4Note ( 04
Revaluation loss of land of Rs.1 000 000 and revaluation profit of building of Rs. 1 500 000 were
recorded
Note ( 05
Inventories were priced at FIFO method
Note ( 06 Directors proposed Rs. 200 000 dividend for ordinary share holders
Workings (
Distribution Expenses Administration Expenses
Bad debts
40 Computer system depreciation
80
Doubtful debts
20 Machinery depreciation
150
Advertisement
50 Building depreciation
500
Discount allowed
50 Motor vehicle depreciation
420
Sales commissions
20 Salary and wagers
2000
180 EPF expenses
300
Other Expenses
ETF expenses
60
Land revaluation loss
300 Audit fees
60
Donation
30 Directors fees
175
330
3745
Financial Expenses
Leasing interest
Bank loan interest
100
80
180
2' ^A&
General Journal
^1&
Dr 5 000
5 000
Dr 10 000
Dr 8 000
18 000
Dr ^Rs& Cr ^Rs&
Dr 75 000
75 000
[ See page 2
-5
^2&
^RsZ000&
Net profit
Interest on capital Athuru
Mithuru
Sithum
207
Salaries Athuru
Mithuru
36
26
20
^82&
45
35
^80&
15
15
15
^45&
^3&
Current accounts
^RsZ000&
Athuru Mithuru Sithum
10
12
30
08
08
10
20
56
108
30
76
40
40
B/B/F
Loan interest
Interest on capital
Salaries
profit Share
Balance C/F
12
36
45
15
26
35
15
5
20
15
108
56
76
30
40
40
^4&
Goodwill
Balance C/D
Capital Account
^RsZ000&
workings (
Net Profit
(+) Drawings
(-) Loan interest (Sithum)
Overstated inventory
Depreciation ^10108&
Received in advance rent
Adjusted net profit
RsZ000
5
24
28
6
252
18
270
^63&
207
[ See page 6
-6
^B&
^1& Overhead analysis sheet
Overhead Item
Basis of Apportionment
Direct
Direct
Floor space ^2(3(1&
Direct
No of employees ^2(6(1&
Direct
Floor space ^3(1&
No. of employees ^2(6(1&
Direct
No. of employees ^6(1&
Total
finishing Packing
Canteen
overhead cost
Dep.
Dep.
800
360
1200
500
270
100
400
450
80
140
4800
800
360
400
500
60
100
100
80
2400
100
2500
600
180
300
300
120
1500
300
1800
200
30
100
50
20
400
^400&
-
^3&
Finishing
Packing
2 500 000
000
5
1 800 000
12 000
Rs. 500
Rs. 150
C
^4& Cost per unit
Prime Cost
Rs. 1050
Machinery overheads ^500 2& Rs. 1 000
Packing overheads ^150 1& Rs 150
Rs 2200
3'
^A& ^1&
No.
Motor vehicle
repair
equipment
+ 300
+ 100
4
5
Motor vehicle
repair
materials
-10
390
J
1200
^500 1&
500
^150 2&
300
2000
+ 100
+ 300
-160
-100
40
100
-40
+ 320
-27
-27
-40
120
+ 600
+ 220
-30
-20
^RsZ000&
Trade
Pre-paid
Trade
cash } equity
receivable expenses
payable
+ 120
+ 60
163
+ 20
-30
-10
-20
793
20
[ See page 7
-7
Services Income
^-& cost of service materials
Gross profit
320
^20&
300
^3& Statement of financial position as at 31.03.2015
^RsZ000&
Non-current Assets
390
Motor vehicle repair equipment
Current Assets
Motor vehicle repair materials
Trade receivable
Pre-paid expenses
Cash
Equity
40
100
120
163
^107&
193
423
813
793
Current liabilities
Trade payable
40
27
30
10
20
813
Purchases
Dayawansa
Karunasiri
Mohammed
Transfer to sales account
Amount
135 000
180 000
108 000
423 000
Date
Description
03$05 Sudesh
03$10 Dayawansa
03$30 Karunasiri
03$31
^Rs.&
Discount Debtor
3 000 75 000
5 000 95 000
4 000 76 000
12 000 246 000
15 000 B/B/F
25 600 Cash (Bad debts received)
Profit or loss
40 600
14 000
10 000
16 600
40 600
[ See page 8
-84'
^A& ^1&
Balance B/F
Sales
Bank/dishonored cheque
Cancellation of discount
Balance B/F
^B& ^1&
^2&
Debtor reconciliation statement
Balance of adjustment debtor control account
80 000
4 500
3 000
1 000
88 500
38 000
38 000
500
1 800
2 500
8 000
5 000
4 500
12 800
50 800
^9 500&
41 300
Balance B/F
21 500
Cheque book chargers 400
Interest on correct
1 800
Bank chargers
450
Leasing installment 20 000
Creditors
12 000
Balance B/F
56 150
14 950
14 950
4 500
33 500
16 000
35 000
16 500
21 500
54 000
68 950
^73 000&
4 050
[ See page 9
-95'
^A&
Devinda Plc
Statement of Cash flow for the year ended 31.03.2015
RsZ000
Cash flows from operating activities
Profit before tax
2265
Adjustment - Depreciation
300
^75&
Interest income
Interest expenses
760
50
Computer disposal loss
3300
^300&
Increase of current assets
110
Increase of current liabilities
3110
Cash used in operating activities
^700&
Interest paid
Income tax paid
^1150&
1260
Net cash used in operating activities
Cash flows from investment activities
Receipts from disposal computers
Purchase photo copy machine
Received interest
Net cash used in investment activities
^B&
^1&
Fixed Cost
Unit Contribution
105 000
700
70
^120&
85
35
500
^655&
^155&
1140
300
1440
= 150 Students
Fixed Cost
= Rs.700
[ See page 10
- 10 ^2&
= Rs. 35 000
If 250 Students;
Margin of Safety Unit Contribution
100
700
= Rs. 35 000
= Rs. 35 000
70 000
Purchase Price
Cost of Carriage inwards
Residual Value
Estimated sales income
(-) Estimated Variable Cost
(-) Fixed Cost
Annual net Cash Flows
(-) Annual Depreciation
Annual net Profit
0
(355)
(5)
-
(360)
180
(45)
(16)
119
(64)
55
Year
2
3
216
(54)
(16)
146
(64)
82
240
(60)
(16)
164
(64)
100
228
(57)
(16)
155
(64)
91
40
120
(30)
(16)
114
(64)
50
[ See page 11
Purchase Price
Cost of Carriage inwards
Residual Value
Estimated sales income
(-) Estimated Variable Cost
(-) Estimated Fixed Cost
Annual net Cash Flows
(-) Annual Depreciation
Annual net Profit
Year
0
1
2
3
95
12
164
02 Years and 07 months
Alfa = 02 years +
204
(34)
(10)
160
(70)
90
252
(42)
(10)
200
(70)
130
228
(38)
(10)
180
(70)
110
Annual Cash
Flows
(400)
160
200
204
(34)
(10)
160
(70)
90
50
132
(22)
(10)
150
(70)
80
Beeta
Accumulated
Cash Flows
(400)
(240)
40
07 months
1
40
2
months
12
2
180
1
months
02 Years and 2
2
Beeta = 02 Years
Alfa
Annual Cash
Accumulated
Flows
Cash Flows
(360)
(360)
119
(241)
146
(95)
164
(400)
Year
2
3
75.6
200
37.8%
100
[ See page 12
100 100
225
44.4%
Alfa
Year
Beeta
Annual
Discount
Cash Flows Factor 10%
0
1
2
3
4
5
(360)
119
146
164
155
114
1
0.9
0. 8
0.7
0.6
0.5
NPV
Discounted
Net Cash
Flows
(360)
107.1
116.8
114.8
93.0
57.0
128.7
Annual
Cash
Flows
(400)
160
200
180
160
150
Discount
Factor 10%
1
0.9
0.8
0.7
0.6
0.5
NPV
Discounted
Net Cash
Flows
(400)
144.0
160.0
126.0
96.0
75.0
201.0
Employee
No
Employee
Name
0100
2
3
4
No
^2&
Salary sheet
Earnings
Deduction
Total
Deduc.
Net
Salary
5 600
Basic
Salary
Other
Allow.
O/T
Gross
salary
EPF
8%
Festival
Allow.
Leasing
install.
Bank loan
installment
Sachithra
50 000
20 000
70 000
5 600
0101
Kaveen
30 000
12 000
42 000
3 360
3 000
0102
Tharindu
20 000
8 000
6 000
34 000
2 240
2 000
6 000
0103
Niridu
18 000
12 000
30 000
1 440
1 500
4 000
6 940
Employer
Contribution
EPF
ETF
64 000
8 400
2 100
6360
35 640
5 040
1 260
10 240
23 760
3 360
840
23 060
2 160
540
176 000
176 000
[ See page 13
Balance b/d
31 600
31 600
(7) (A)(1)
(1)
(2)
(3)
(4)
(2)
12 640
18 960
31 600
General Journal
Dr 120 000
Cr
120 000
Dr 110 000
Cr
110 000
Dr
25 000
25 000
Dr
Cr
15 000
15 000
25 000
160 000
Balance as at 01.04.2014
Machinery depricit A/C
125 000
60 000
185 000
185 000
Balance b/f
Workings : Annual Depreciation
Cost of remain machineries
Accumulated depreciation
Residual Value
85 000
(Rs: 000)
480
(100)
(80)
300
300 5
60
(B) (1) Subscription Income is Rs: 297 000
=
=
=
=
120 200 12
3 600
2 400
3 000
= 288 000
=
=
6 000
3 000
297 000
[ See page 14
- 14 (2)
b/b/f
Ticket and Sournier
Subscription
(3)
b/b/f
Depreciation
Scholarships
Surplus
(4)
(Rs)
320 000
317 000
637 000
297 000
50 000
200 000
547 000
100 000
120 000
454 000
674 000