3.The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000. Sundry Debtors Rs.160000 Bad Debts written off Rs 9000 Discount allowed to Debtors Rs. 1800 Reserve for Bad and doubtful Debts 31-12-1999 Rs. 16500 Reserve for discount on Debtors 31-12-1999 Rs. 3200 You are required to provide the bad and doubtful debts at 5% and for discount on debtors at 2%. Show the adjustments for bad debts, bad debts reserve, discount account, and provision for discount on debtors. A Calculation and Workings Conclusion
4.The reports prepared in financial accounting are also used in the management accounting. But there are few major differences between financial accounting and management accounting.
Explain the differences between financial accounting and management accounting in various dimensions.
A
Writing down all the differences between the financial and management accounting
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5.Draw the Balance Sheet for the following information provided by Sandeep Ltd..
a. Current Ratio : 2.50
b. Liquidity Ratio : 1.50
c. Net Working Capital : Rs.300000
d. Stock Turnover Ratio : 6 times
e. Ratio of Gross Profit to Sales : 20%
f. Fixed Asset Turnover Ratio : 2 times
g. Average Debt collection period : 2 months
h. Fixed Assets to Net Worth : 0.80
i. Reserve and Surplus to Capital : 0.50
A
Preparation of Balance sheet (Includes all the ratios)
