[All Rights Reserved] SLIATE SRI LANKA INSTITUTE OF ADVANCED TECHNOLOGICAL EDUCATION (Established in the Ministry of Higher Education, vide in Act No. 29 of 1995) Higher National Diploma in Accountancy HNDA 2 nd Year, Second Semester Examination 2014 2202- Computer Applications for Accounting Instructions for Candidates: No. of questions : 05 Answer all Questions No. of pages : 07 Time : 03 hours Instruction to be followed, Paper 1 Given data for Question no. 1,2 & 4 (use data from given data file on the desktop) Application to be used-ms-excel & HTML. Do not create folder to save your files. Rename the data for paper 1 workbook as your Index No and compute your answers in the relevant worksheets. But don t create any additional worksheet into the workbook. Complete the details which are included in this page given bellow. Return the question paper to the examiner before leaving the examination hall. Don t fill the page 7 mark sheet that is for examiner use. Index No- Group No- Start Time- End Time- Cage-1 To be completed by Candidate Question Numbers Answered 1 2 3 4 5 Cage-2 To be completed by Examiner Marks obtained Total
Q1. Following balances have been extracted from the books of Maya plc as at 31st March 2013 & 2014. Account Title Account ID Rs. '000 Rs. '000 31/03/2013 31/03/2014 Sales 6000 400,000.00 613,500.00 Insurance Expenses 8050 2,000.00 15,000.00 Rent Expenses 8100 1,000.00 2,000.00 Salaries & Wages 8150 25,000.00 28,000.00 Administrative Expenses 8000 30,000.00 40,000.00 Selling & Distribution Expenses 8500 25,000.00 50,000.00 Financial Expenses 9500 10,000.00 15,000.00 Purchases 5100 80,000.00 90,000.00 Telephone Charges 8200 1,500.00 2,000.00 Advertising 8550 2,300.00 2,500.00 Bad debts 8600 1,200.00 1,400.00 Commission Received 6100 3,000.00 3,500.00 Opening Inventory 5000 24,000.00 35,000.00 Interest Expenses 9550 6,000.00 7,000.00 Land & Buildings (W.D.V) 1000 400,000.00 550,000.00 Office Equipment (W.D.V) 1100 75,000.00 50,000.00 Motor Vehicles (W.D.V) 1200 150,000.00 130,000.00 Depreciation - Office Equipment 8250 30,000.00 25,000.00 Depreciation - Motor Vehicle 8650 20,000.00 20,000.00 Goodwill 1900 80,000.00 80,000.00 Closing Inventory 5200 35,000.00 25,000.00 Prepaid Expenses 2100 10,000.00 8,000.00 Cash at Bank 2900 25,000.00 35,000.00 Stated Capital 3000 555,000.00 526,900.00 General Reserve 3500 40,000.00 45,000.00 Accounts Receivables 2200 14,000.00 16,000.00 Accounts Payables 4100 23,000.00 26,000.00 Debentures 4000 20,000.00 20,000.00 Investments 1950 15,000.00 15,000.00 Income Tax Expenses 9950 14,000.00 18,000.00 P a g e 2
You are required to create a suitable spreadsheet model for; i. The Statements of Financial Performance for the period ended 31 st March, 2013 and 2014. ii. Statement of Financial Position as at 31st March 2013 and 2014. (You are supposed to use maximum number of formulas and proper financial statement structures) [Total 25 marks] Q2. The comparative statement of financial position of Lanka PLC are as follows, Lanka PLC - Statement of Financial Position 2014 2013 2012 2011 Assets Non-Current Assets Property plant & equipment 1,753,166.00 1,839,724.00 2,357,696.00 3,101,564.00 Capital Work -in progress 27,335.00 217,802.00 439,096.00 1,489,855.00 Intangible Assets 145,072.00 111,594.00 78,116.00 44,637.00 Current Assets 1,925,573.00 2,169,120.00 2,874,908.00 4,636,056.00 Inventory 2,101,234.00 1,479,679.00 2,131,493.00 2,340,914.00 Trade and other Receivables 641,835.00 657,989.00 832,204.00 1,147,999.00 Amount due from related parties 186,986.00 131,510.00 95,113.00 189,181.00 Cash & Cash Equivalent 228,499.00 969,184.00 615,078.00 612,563.00 3,158,554.00 3,238,362.00 3,673,888.00 4,290,657.00 Total Assets 5,084,127.00 5,407,482.00 6,548,796.00 8,926,713.00 Equity Stated Capital 537,255.00 537,255.00 537,255.00 537,255.00 Revenue Reserves 1,221,051.00 1,243,327.00 2,016,207.00 2,795,973.00 Non-Current Liabilities 1,758,306.00 1,780,582.00 2,553,462.00 3,333,228.00 Employee Benefits 202,950.00 326,665.00 475,663.00 517,737.00 Differed Tax Liability 168,700.00 104,300.00 41,783.00 73,056.00 Current Liabilities 371,650.00 430,965.00 517,446.00 590,793.00 Trade &Other payables 1,633,175.00 1,889,302.00 1,961,125.00 3,121,857.00 Amount due to related parties 624,477.00 474,817.00 655,708.00 751,700.00 Income Tax Payables 627,257.00 714,949.00 705,754.00 521,107.00 Dividends Payables 38,711.00 52,172.00 56,033.00 65,674.00 Bank Overdraft 30,551.00 64,695.00 99,268.00 542,354.00 2,954,171.00 3,195,935.00 3,477,888.00 5,002,692.00 Total Equity & Liabilities 5,084,127.00 5,407,482.00 6,548,796.00 8,926,713.00 P a g e 3
You are required to prepare, i. Vertical analysis report for the statement of financial position from 2011 to 2014. ii. Horizontal analysis report for the statement of financial position from 2011 to 2014 iii. Q3. (Base year is 2011). Calculate the following ratios for above four years, (a) Current Ratio (b) Quick Ratio (c) Debt to Equity [Total 20 marks] A. Prepare a loan amortization table for 5 years mortgage loan of Rs.725,000 obtained at an annual interest rate of 7 %, assuming that the loan is repaid in equal installment at the beginning of each month. (Amortization table should clearly indicate, beginning loan balance, monthly installment. monthly interest payment, monthly capital deduction and the ending loan balance for each month till the end of the mortgage period.) [10 marks] B. PQR Company provides you the following information related its Non-Current Asset. Cost of the Asset Rs. 625,000 Estimated salvage value Rs. 25, 000 Estimated useful life in years 5 You are required to develop a model to calculate the annual depreciation, accumulated depreciation and net value during the useful life of the above asset in following methods separately. Straight Line Method, Declining Balance Method Double Declining Balance Method Sum of Years Digit Method C. Prepare a line chart to show the depreciation (based on part B) expenses for the useful life time of the asset using Declining Balance Method [10 marks] [Total 20 marks] P a g e 4
Q. 4 Following Trial Balance was extracted from the books of Araliya Ltd at 31st March 2014. Particulars Dr. Cr. Advertising 44,000 Bank Loan 400,000 Sales 1,900,000 Salaries 192,000 Telephone 72,000 Electricity 36,000 Bad Debt 20,000 Stock as at 01.04.2013 76,000 Rent & Rates 96,000 Land & Buildings 800,000 Office Equipment (at cost) 200,000 Motor Vehicle (at cost) 500,000 Debtors 100,000 Cash at Bank 50,000 Creditors 50,000 Drawings 30,000 Capital 666,000 Purchases 800,000 3,016,000 3,016,000 Adjustments, i. Closing stock was valued at Rs. 100,000 on 31 st March 2014. ii. Rent & Rates payable at 31 st March 2014 was Rs. 4,000. iii. Rs. 6,000 was paid in advance for electricity bill on 31 st march 2014. iv. Provision for depreciation on Non-current Assets as follows; Office Equipment at 10% at cost. Motor Vehicle at 15% at cost You are required to prepare a Twelve Column Worksheet which should include Trading, Profit & Loss Account and the Balance Sheet of the company after the adjustments. [Total 20 marks] P a g e 5
Q5. Create the web page shown below using html. Background Color Font Color - Yellow - Red &Blue for topics - Black for application topics - Use suitable font size for the web page Insert text box, radio button, list box and check box for create the e-students registration form. If you are not clear the web page in your exam paper, you can see it in your exam folder as webpage word document. [Total 15 marks] P a g e 6
Mark Sheet Marks allocation Allocated Received Income Statement Q.1 1 Function 6 Operation 3 Gross profit 3 Net profit 2 Balance Sheet Function 6 Operation 3 Net profit Link 2 25 Q.2 A Vertical Functions 4 Horizontal Functions 4 Advancrd Ratios 7 15 Q.3 A B Rental 3 Interest 3 Capital 2 Ending Balance 2 10 Depreciation 4 Functions 3 Pie chart 3 10 Q.4 Q.5 Adjustment 8 Function 10 Operation 2 20 Title 2 BG color 2 font color 3 Bold/Italic 2 Text Box & Password 2 List 2 Rich look 2 15 Total Marks out of 100 P a g e 7