MGT101 Final 2018

1. Which Of The Following Is Always Treated As A Merchandise Even In The Opening Or Closing Of The Year

A Raw Material

B Cost Of Goods Sold

C Work In Process

D Inventory

2. Which Of The Following Is Used To Get Loans From Public By The Company

A Ordinary Shares

B Premium Shares

C Term Finance Certificates

D Bonus Shares

3. Which Of The Following Contains Assets,Liabilities And Capital Details

A Financial Statement

B Statement In Changes In Equity

C Cash Flow Statement

D Profit And Loss A/C

4. Which Of The Following Is A Liability For The Bank

A Cash

B Debenture

C Dividend

D Bank Overdraft

Subjective

1. Pass Journal Entries In The Books Of Akram.Ali Purchases Furniture From Mr Akram For Resale Purposes For 50,000.Akram Says If Ali Gives Him Payment With In Days He Will Give Him 10 % Discount.Mr Ali Gives Him Payment After 10 Days. ( 5 Marks )

2. Calculate Current Assets And Current Liabilities From The Following : ( 5 Marks ) A Cash In Hand B Cash At Bank C Sundry Creditors D Sundry Debtors E Capital F Account Payable G Amount Accrued H Advance Cash To Customer I Bank Over Draft

3. Aslam Purchases Furniture From Umer For 40,000 And 30,000 On Credit And Cash Basis And Debit Purchases A/C. ( 5 Marks )

4. Calculate The Amount Of Doubtful Bad Debts And Charge 10 % Bad Debts On Sundry Debtors From The Amounts Given. ( 3 Marks )

5. Find Accumulated Depreciation Etc