Post Graduate Centre
Managerial Accounting
Course Name
Assignment
Commence Date
Deadline Date
Unit Controller
Contact Number
E-mail
:
: MBA FINANCE & BANKING
: INDIVIDUAL ASSIGNMENT
:
:Exam Day
Individual
Assignment
: 0183687951
:nicholas.nyoni@gmail.com
1. Prepare a manufacturing account and income statement from the follow balances.
Balances of W. Miller for the year ending 31 Dec 2013
$
Inventory at 1 Jan 2013:
Raw materials
25,400.00
Work-in progress
31,100.00
Finished goods
23,260.00
Purchases: Raw materials
91,535.00
Carriage on raw materials
1,960.00
Direct labour
84,208.00
Office salaries
33,419.00
Rent
5,200.00
Office lighting and heating
4,420.00
Depreciation: working machinery
10,200.00
Office equipment
2,300.00
Sales
318,622.00
Factory fuel and power
8,120.00
*Rent is to be apportioned: factory 3/4; office 1/4. Inventory at 31 December 2013
was: Raw materials $28,900; work-in-progress $24,600; finished $28,840.
2. Prepare The Financial Statements for the Year ended 31.12.2010 With
the following information.
J. Jarvis Trail balance as at 31 December 2010
Dr
Cr
Inventory of raw material 1.1.2010
21,000
Inventory of finished goods 1.1.2010
38,900
Work-in-progress 1.1.2010
13,500
Wages (direct 180,000; indirect 145,000)
325,000
Royalties
7,000
Carriage inwards (on raw materials)
3,500
Purchases of raw materials
370,000
Productive machinery (cost 280,000)
230,000
Administration computers (cost 20,000)
12,000
General factory expenses
31,000
Lighting
7,500
Factory power
13,700
Administration salaries
44,000
Sales reps' salaries
30,000
Commission on sales
Rent
Insurance
General administration expenses
Bank charges
Discounts allowed
Carriage outwards
Sales
1,000,000
Accounts receivable and accounts payable
Bank
Cash
Drawings
Capital as at 1.1.2010
12,000
4,200
13,400
2,300
4,800
5,900
142,300
16,800
1,500
11,500
64,000
60,000
357,800
1,421,800
1,421,800
Note at 31.12.2010:
1. Inventory of raw material 24,000; inventory of finished goods 40,000; work-inprogress
15,000.
2. Lighting, rent and insurance are to be apportioned: factory 5/6, administration
1/6.
3. Depreciation on productive machinery and administration computers at 10 per
cent per annum on cost.
3. The financial position of ABC Ltd. on 1 January 2009 and 31 December 2009 was
as follows:
Assets 1-1-2009 31-12-2009
Cash
Debtors
Stock
Land
Building
Machinery:
Provision for Depreciation
Liabilities
Current Liabilities
Loan from associate company
Loan from Bank
Capital and Reserves
8,000
7,200
70,000
76,800
50,000
44,000
40,000
60,000
1,00,000
1,10,000
2,14,000
2,44,000
(54,000)
(72,000)
4,28,000
4,70,000
72,000
–
60,000
2,96,000
4,28,000
82,000
40,000
50,000
2,98,000
4,70,000
During the year $52,000 were paid as dividends. Prepare a cash flow statement.
5. The following information is available from the books of Exclusive Ltd.
for the year ended 31st March, 2016:
(a) Cash sales for the year were $10,00,000 and sales on account $12,00,000.
(b) Payments on accounts payable for inventory totaled $7,80,000.
(c) Collection against accounts receivable were $7,60,000.
(d) Rent paid in cash $2,20,000, outstanding rent being $20,000.
(e) 4, 00,000 Equity shares of $10 par value were issued for $48, 00,000.
(f) Equipment was purchased for cash $16, 80,000.
(g) Dividend amounting to $10, 00,000 was declared, but yet to be paid.
(h) $4,00,000 of dividends declared in the previous year were paid.
(i) An equipment having a book value of $1,60,000 was sold for $2,40,000.
(j) The cash account was increased by $37,20,000.
Prepare a cash flow statement using direct method.
6 Following information is available from the books of Standard Company Ltd.:
Calculate cash flow from operations.
OBJECTIVE
The objective of this activity is to test your knowledge of the managerial
accounting concepts. You are required to apply your relevant knowledge and
understanding to solve the given problem.
SPECIFIC INFORMATION



This assignment will be an individual work.
This assignment carry 20% of your total 100 marks
This assignment should be submitted on the Date of exam. Late
submissions will result in the loss of marks.
RULES AND REGULATIONS


Plagiarism will be dealt with sternly
You must write the report based on real information.
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