(MBA) FINANCIAL AND MANAGEMENT ACCOUNTING

Started by monishav, May 11, 2020, 05:55 PM

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May 11, 2020, 05:55 PM Last Edit: May 11, 2020, 10:44 PM by monishav
Common for M.B.A. (G) / B&F/ EM / HM / IB / T/ PM/ HRM /
CS / RM / LM / TM / CM / MM / SM / FM / P&OM DEGREE
EXAMINATION, MAY 2018.
First Semester

FINANCIAL AND MANAGEMENT ACCOUNTING
(Upto 2013-2014 Academic Year and 2014 Calendar Year
onwards)
Time : Three hours Maximum : 100 marks

SECTION A -- (5 x 8 = 40 marks)
Answer any FIVE questions.
All questions carry equal marks.

1. Briefly explain the users and their need for accounting
information.

2. What are the various types of Subsidiary Books?

3. Prakash keeps his books by 'Sing Entry System'. His
position on 1.4.2014 and 31.3.2015 was as follows.

                        1.4.2014     31.3.2015
                        Rs.              Rs.
Cash                   500             6,000
Bank balance       10,000        15,000
Stock                  7,000          10,000
Sundry debtors    30,000        40,000
Furniture             6,000          6,000
Sundry creditors   6,000         12,000

He introduced an additional capital of Rs. 8,000
during the financial year. He withdrew Rs. 14,000
for domestic purpose. Find out the profit for the
year ended 31.3.2015.

4. What is meant by 'Ratio Analysis'? What are its
limitations?

5. From the following informations, you prepare a
Comparative Income statement for the years 2014 and
2015.

                            Profit and Loss A/c

                                   2014 2015                   2014 2015

To cost of goods sold         600 750   By net sales 800  1,000

To Administrative
expenses                            20 20

To selling expenses              30 40

To Net profit                      150 190
                                      ________                   ________
       
                                      800 1,000                   800 1,000
                                      ________                   ________

6. Calculate funds from operation for the following data.
                  Profit and Loss A/c
                           Rs.                                            Rs.
To Rent                35,000              By Gross profit 9,86,000

To Depreciation     3,000

To share discount  10,000

To Goodwill           5,000

To Preliminary
expenses              6,000

To Net profit          9,27,000

                         _________                               _________
           
                          9,86,000                                   9,86,000  

                         _________                               _________


7. From the following particulars, prepare a production
budget of a Company for the year ended June 30, 2015.

          Product         Sales(Units)           Estimated Stock (units)

                         (as per sales budget) 1st July, 2014 30th July, 2015

             A           3,00,000                        28,000            30,000

             B           2,00,000                        10,000            29,000

             C           1,40,000                        16,000            16,000


SECTION B -- (4 15 = 60 marks)
Answer any FOUR questions.
All questions carry equal marks.

9. Distinguish between Financial Accounting and
Management Accounting.

10. The following is the trial balance of Gopi as on
31.03.2015.

                                             Debit           Credit
                                                Rs.              Rs.

Purchases                              1,00,000             -
Sales                                           -             1,60,000
Stock on 1.4.2014                   20,000               -
Wages                                    10,000               -
Salaries                                  10,000               -
Rent                                           500               -
Insurance Premium                   2,500
Provisions for doubtful debts          -               500
Drawings                                  2,000               -
Cash                                        5,000               -
Buildings                                 50,000              -
Sundry creditors                           -              14,500
Sundry Debtors                        10,000
Capital                                                         35,000
                                          __________        __________
                                         
                                             2,10,000             2,10,000

                                          __________        __________

Adjustments
(a) Stock on 31.3.2015 Rs. 15,000
(b) Rent outstanding Rs. 500
(c) Prepaid Insurance Rs. 500
(d) Depreciation on building Rs. 5,000
Prepare the final accounts.

11. Describe the various types of financial statements.

12. Distinguish between cash flow and fund flow statement.

13. Prepare a flexible budget for 60% and 75% on the basis of
the following data for 50% capacity cost per unit.
                                                     Rs.
Materials                                        100
Labour                                            50
Variable expenses                            10
Administration expenses                40,000
(50% fixed)
Selling expenses (40% variable)      50,000
Production (units)                            1,000

14. A firm is considering the purchases of a machine. Two
machines A and B are available each costing Rs. 50,000.
In Comparing the profitability of those machines discount
rate of 10% is to be used. Earnings after taxation are
given below.

Year                        1             2           3          4         5

Machine A
Cash flow (Rs.)  15,000       20,000   25,000 15,000 10,000
Machine B
Cash flow (Rs.)   5,000        15,000   20,000 30,000 20,000

You are also given the following data :

Year                       1               2           3          4        5
PV factor @ 10% 0.909        0.826     0.751   0.683  0.621
Discount
Evaluate the project using
(a) The next present value
(b) Average Rate of Return

                                 ______________

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