Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Cost Accounting Expert

problem1) Answer all the problems:

i) What do you mean by costing? describe its objectives.

ii) What is operating coating? In which industries is operating coating used?

iii) What is idle time variance? How is it find outd?

iv) describe the meaning of the term “Analysis of Financial Statement”.

v) If the current ratio is 2.5, liquidity ratio is 1.5 and working capital Rs 60,000. Find current assets and current liabilities.

problem2)  What do you understand by absorption of overhead? describe different methods of factory overhead absorption.

problem3) describe the meaning of management accounting and state its objectives and functions.

problem4) From the following information, prepare a fund flow statement and a schedule of changes in working capital:

BALANCE SHEET AS ON 31st December

Liabilities                                  2007             2008           Assets                  2007             2008
Equity Share Capital             10,00,000     11,00,000        Goodwill                  50,000         40,000
General Reserve                     2,00,000      2,00,000      Land & Building         4,20,000      6,60,000
Profit & Loss a/c                    1,10,000     1,90,000     Plant & Machinery         6,00,000      8,00,000
Debenture                             5,00,000     3,00,000       Closing Stock            2,50,000      2,10,000
Creditors                                  50,000       40,000             Debtors               3,00,000     2,40,000
Bills Payable                              30,000        24,000               Cash                 3,00,000       24,000
Provision for Bad Debts             20,000        30,000     Preliminary Expenses      30,000         20,000
Provision for tax                        40,000    1,10,000           
                                            19,50,000   19,94,000                                    19,50,000     19,94,000

ADDITIONAL INFORMATION:

1) During the year 2008 a part of machinery costing Rs 7,500 (accumulated depreciation thereon being Rs 2,500) was sold for Rs. 3,000.

2) Dividend of Rs. 1, 00,000 was paid during the year ended 31st December, 2008.

3) Income Tax of Rs. 50,000 was paid during the year 2008.

4) Depreciation for the year 2008 was provided on Land & Building Rs. 10,000 and Plant & Machinery Rs. 50,000.

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M94282

Have any Question? 


Related Questions in Cost Accounting

Learning outcomes1 identify and critically analyse

Learning Outcomes 1. Identify and critically analyse principles and trends in Performance Measurement and Control. 2. Determine the different budgeting techniques and critically evaluate their use in short term decision ...

Abc costing1 assume you own a business that makes two

ABC COSTING 1. Assume you own a business that makes two complementary products for which you allocated manufacturing overhead proportionally. A competitor is trying to undercut your price for one of the products. How mig ...

Nbspquestions1 can marginal product be zero or negative2

Questions: 1. Can Marginal Product be Zero or negative? 2. What would be Marginal Cost if cost of producing 4 units is '50 and that of 5 units is '68? 3. Is the difference between ATC and AVC is constant? Give reason whe ...

Cool ride skis ltd case studyit is the end of 2015 and

COOL RIDE SKIS LTD CASE STUDY It is the end of 2015 and Grace Miller, senior management accountant for Cool Ride Skis Ltd has been analysing the Victorian division's 2015 results. Both she and the company's Managing Dire ...

This is a comprehensive problem all contained on this

This is a comprehensive problem all contained on this spreadsheet tab. Process Job Costing and Equivalent Units of Production Bay Manufacturing produces paint. The company has two processes: mixing and packaging. The ing ...

In your accounting career you will be required to analyse

In your accounting career you will be required to analyse current accounting issues and communicate your theoretical understanding to your professional colleagues and your clients. For this assignment assume that you are ...

Cool ride skis ltd case studyit is the end of 2015 and

COOL RIDE SKIS LTD CASE STUDY It is the end of 2015 and Grace Miller, senior management accountant for Cool Ride Skis Ltd has been analysing the Victorian division's 2015 results. Both she and the company's Managing Dire ...

1 avatar company uses the indirect method to prepare its

1) Avatar Company uses the indirect method to prepare its statement of cash flows. Please refer to the following portion of the comparative balance sheet:   2014 2013 Increase/decrease Cash $  21,000 $  18,000  $  3,000 ...

Part aemu electronics is an electronics manufacturer

Part A Emu Electronics is an electronics manufacturer located in Box Hill, Victoria. The company's managing director is Shelly Chan, who inherited the company from her father. The company originally repaired radios and o ...

Question1 which of the following statements concerning job

Question 1. Which of the following statements concerning job costing systems is incorrect? a. Cost drivers are those items which cause actual overhead to exceed applied overhead. b. Job costing systems are appropriate to ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate