Paper

Computer Lab - Practical Question Bank
FACULTY OF COMMERCE, OSMANIA UNIVERSITY
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B.Com (All Streams) III Year W.E.F.2010-11
CORPORATE ACCOUNTING

Time: 60 Minutes Record : 10

Skill Test : 20

Total Marks : 30

Note: Problems are to be solved by using computers (Excel/Accounting package).

1) Compute net profit from the following: Rs.
Share capital 10000 shares @ 10/- 1,00,000
Purchases 20,000
Sales 1,00,000
Rent 20,000
Salaries 10,000
Interest received 40,000
Advertisement 5,000
General Expenses 2,000

2) Prepare P&L A/C, P&L Appropriation A/C and B/S, from the following: Rs. Rs.
Income Tax 40,000 Advertisement 5,000
Bills payable 40,000 Dividends paid 50,000
Debentures 6% 1,00,000 P&L a/c – Cr 1,00,000
Loan from bank 12,000 Gross profit 1,30,000
O/S salaries 8,000 salaries 10,000
Commission 12,000 Rent 5,000
Prepaid expenses written off 8,000 Prov.for tax 12,000

3) Compute Net profit from the following: Rs. Rs.
Share capital 2,00,000 Interest received 25,000
Purchases 50,000 Legal expenses 3,000
Sales 1,00,000 Commission received 7,000
Rent 10,000 Taxes 3,000
Salaries 20,000 General expenses 800
Wages 5,000 Opening stock 10,000
Closing stock 25,000 Carriage inwards 2,000

4) GVK Ltd