AIOU PAST PAPER CODE 444 ADVANCE ACCOUNTING

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AIOU OLD PAPER CODE 444 SPRING 2016

Aiou past paper code 444. Aiou old paper code 444. Aiou past paper code 444 spring 2015. Aiou old paper code 444 spring 2015. This is advance accounting code 444. Allama Iqbal Open University Islamabad Level: Bachelor Paper: Advanced Accounting 444) Time: 3 Hours Semester: Spring, 2015 Max Marks: 100 Pass Marks: 40

Note: ATTEMPT FIVE QUESTIONS. QUESTION NO.8 IS COMPULSORY.

Q.I: Explain the following terms:
(a) Preliminary Expenses
(b) Underwriting commission
(c) Bonus Shares
(d) Right Issue

Q.2: A company purchased assets of book value of Rs.297000 from a firm. It was agreed that purchase consideration he paid by issuing 12% debentures of Rs. 100 each. Assuming that:
i. Debentures have been issued at par.
ii. Debentures have been issued at 10% discount.
iii. Debentures have been issued at 10 % premium.
Required: Give the necessary journal entries.

Q.3: On 1st July 2014 P& Co. sends 300 cases of medicines to Zeeshan on consignment basis. The cost of each case was Rs. Rs.1000. P & Co. incurred the following expenses on the consignment: Rs.750 on railway freight and Rs.450 on insurance. Zeeshan sold 200 cases at Rs. 2000 per case. The expenses of Zeeshan amounted to Rs. 1200. He sent an account sale on 31st December 2014 which revealed that he charged 5% as ordinary commission and 10% as delcreder commission. He sent a bank draft for Rs. 90000.
Required: Prepare the Consignment Account and Consignee Account.

Q.4: Arshad & Co. have a sales branch at Bannu and charge all goods sent to branch at cost price plus 33 ji%. It is arranged that all cash received by the branch is to be paid daily to the Head office Account with ABL and the necessary advice to the Head office. All expenses are paid from Head Office. From the following particulars, prepare Branch Account in the Head office ledger showing the actual profit of the branch for the year ending 31st December 2000.
(Stock on 1-1-2000=12,000 Rent, rates, etc=1 3,200, Goods sent to Branch 80,000, Salaries and wages 4,800, Debtors on 1-1-2000 1,500 Debtors on 31-12-2000 1,600 Cash sent to ILO 77,100 Stock on 31-12-2000 14,800

Q.5: Write short note on the following accounting ratios:
(i) Debt to Equity ratio (ii) Inventory Turnover Ratio (iii) Current ratio Inventory turnover ratio (iv) Net Profit Margin.

SPRING 2015 AIOU OLD PAPER CODE 444

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