FINANCIAL ACCOUNTING

SECTION-A
Q1 B
Q2 C
Q3 A
Q4 D
Q5 B
Q6 D
Q7 2150
552
90 230
3042
2250
Q8 87019
Q9 i)CONTINGENT LIABILITY
ii)PROVISION
Q10 D
Q11 D
Q12 B
Q13 i)TRUE
ii)FALSE
iii)TRUE
Q14 D
Q15 C
Q16 B
Q17 C&D
Q18 A
Q19 2040 8160 840
9000
Q20 B&C
Q21 15000
Q22 C
Q23 C
Q24 A&C
Q25 D
Q26 C
Q27 C
Q28 i)true
ii)false
Q29 quick ratio=liquid assets/current liabilities liquid assets=p&e+inventory+trade recievables
quick ratio=55000/7500=7.3 liquid assets=34000+12000+9000=55000
Q30 D

SECTION-B
Q31 share capital share premium revaluation surplus
AT 1st oct 1500 800
RIGHTS ISSUE 1500 1000
BONUS ISSUE 2000 1400
TOTAL COMPREHENSIVE 0 0
At 30 sept 20X6 0
ade recievables current liabilities=bank overdraft+trade payables
current liabilities=1200+6300=7500
revaluation surplus retained earnings
0
0 0
0 600
0 600