Veer Narmad South Gujarat University 2010-1st Sem M.C.A Accounting & Financial Management : , , - - Question Paper
RF-4796
M. C. A. (Sem. I) Examination April/May - 2010 Accounting & Financial Management
Time : 3 Hours]
[Total Marks : 70
Instructions :
N Seat No.:
6silq<3i Puunkiufl SnwiA u* qsq <KH=fl. Fillup strictly the details of signs on your answer book.
Name of the Examination :
M. C. A. (Sem. 1)
Name of the Subject:
Accounting & Financial Management
-Section No. (1,2......): Nil
Student's Signature
-Subject Code No.:
......................................................................................Dr...................Cr.
Purchases & Sales............................................ 10,00,000........ 14,00,000
Carriage inwards.................................................... 50,000....................
Carriage outwards.......................................................600....................
Salary to staff........................................................ 60,000....................
Salary to Director.................................................. 40,000....................
General Exp............................................................ 50,000....................
Int. on B.O.D........................................................... 3,000....................
Legal charges............................................................4,000
Profit & Loss Ac. (1.4.2009)................................................. 1,50,000
Discount.......................................................................................14,000
Misc. Income.................................................................................6,000
Cash in Hand...........................................................6,000....................
24,95,000 24,95,000
Adjustments :
(1) Closing stock was valued at Rs.250,000
(2) Write off l/4th of discount on issue of shares.
(3) Provide Rs.80,000 for income tax
(4) The directors have proposed dividend at 15%.
(5) Depreciate buildings at 2% and furniture at 10%.
The following are the summarised profitr and loss 14
account for the year ended 31-3-2010 and the balance sheet:
Trading and Profit & Loss Accounts for the year Ending 31-3-2010
|
Particulars |
Rs. |
Particulars |
Rs. |
|
To opening Stock To purchases To gross profit |
20,000 110,000 100,000 |
By Sales By Closing stock |
200,000 30,000 |
|
230,000 |
230,000 | ||
|
To administration exp. To interest To selling exp. To Net profit |
30.000 10.000 20,000 40,000 |
By Gross profit |
100,000 |
|
100,000 |
100,000 |
|
Balance Sheet | ||||||||||||
| ||||||||||||
|
From the above information calculate the following ratios: |
|
(1) |
Current ratio |
|
(2) |
Operating ratio |
|
(3) |
Stockturnover ratio |
|
(4) |
Debtors turnover ratio (360 days) |
|
(5) |
Return on capital employed |
|
(6) |
Net Profit ratio |
|
(7) |
Gross Profit ratio. |
|
OR |
2 From the following Balance Sheets of ABC Ltd, prepare
(1) Statement showing changes in working capital
(2) Fund flow statement
Balance Sheet
|
Liabilities |
31.3.2009 |
31.3.2010 |
Assets |
31-3-2009 |
31-3-2010 |
|
Equity Capital |
6,00,000 |
8,00,000 |
Goodwill |
230,000 |
1,80,000 |
|
Pref. share |
Building |
4,00,000 |
3,40,000 | ||
|
capital |
3,00,000 |
2,00,000 |
Plant and | ||
|
General reserve |
80,000 |
1,40,000 |
Machinery |
160,000 |
4,00,000 |
|
P&L A/c |
60,000 |
96,000 |
Debtors |
3,20,000 |
400,000 |
|
Proposed |
Stock |
154000 |
218000 | ||
|
dividend |
84000 |
100,000 |
Bills | ||
|
Creditors |
1,00,000 |
166000 |
receivable |
40,000 |
60,000 |
|
Bills payable |
40,000 |
32000 |
Cash in hand |
30,000 |
20,000 |
|
Provisoins |
Cash at Bank |
20,000 |
16000 | ||
|
for Tax |
80,000 |
100,000 | |||
|
1354000 |
1634000 |
1354000 |
1634000 |
Additional Information
(1) Depreciation for current year Rs.20,000 on Plant & Machinery Rs.40,000 on Land & Building.
(2) An Interim dividend of Rs.40,000 hasbeem paid in
2009-10.
(3) Income Tax Rs.70,000 has been paid during 2009-10.
3 From the following transactions prepare three column 14
cash book of Shri Mahavir.
2009
April 1 : Cash balance Rs.4200. Bank Overdraft Rs.3050
April 2 : Issued a cheque of Rs.2200 to Baba in Full payments of his due of Rs.2250.
April 3 : Sold goods of Rs.4000 to Malaviya at 10% trade discount Paid half the amount by cheque.
April 4 : Deposited Malaviya's cheque into bank.
April 5 : Sold goods of Rs.3000 to Bhatia at 5% cash discount, He issued a cheque of 2/3 amount which is immediately deposited in the bank.
April 6 : Purchased goods of Rs.5000 from Teja at 10% trade discount and 5% cash discount if the payment is made within 10 days.
April 7 : The cheque received from Malaviya is dishonoured
April 10 : Issued a cheque in full settlement to Tejas
April 12 : Purchased stationery of Rs.200 by cheque.
April 14 : Purchased goods of 2000 from Mehta at 10% trade discount and 5% cash discount. Paid Rs.410 in cash and remaining amount by cheques.
April 25 Withdrew from bank for office exp Rs.1000 and for household to Rs.250.
April 30 Keeping Rs.500 on hand, excess cash has been deposited in the bank.
3 (a) The transactions of a business house in January 10
2010 were as follows:
Jan 5 Purchased goods of Rs.5000 from Raman at 10% trade discount and 5% cash discount.
Half the amount paid by cash.
Jan 6 Sold all the goods purchased from Raman to Raju at 20% profit on sales price.
Jan 8 Raju returned goods of Rs.800 being defective which we have returned to Raman.
Jan 10 Purchased goods of Rs.2000 from Ruchita at a 10% trade discount.
Jan 18 Sold goods of Rs.5000 to Rinal at 10% trade discount.
Jan 20 Sent goods of Rs.4000 to Ramesh.
Jan 29 Sold goods of Rs.2000 to Karan at 5% cash discount and received 3/4 amount in cash.
Jan 30 An order for goods of Rs. 1000 is received from Manish.
(b) Write short note on Debit note and Credit note. 4
4 The following are the balances of Vivekanand as on 14
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30th June, 2009. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Prepare a trading A/c and Profit and Loss AJ.c and balance sheet as on 30th June, 2009 after taking into consideration the following:
(1) Stock on 30th June Rs.54000
(2) Depreciate building 5% p.a. Furniture 6% p.a., and motor car 20% p.a.
(3) Provide bad debts reserve at 5% on Debtor.
(4) Provide Manager's commission 10% on the net profit before charging such commission.
OR
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4 Prepare a cost sheet from the following information 14 of Mahavir Ltd. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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During the year 4000 units were sold at 20% profit on cost Finished goods are valued on the basis of Production cost. There has no opening stock of finished goods on the beginning of the year. Work in progress is valued at works cost level.
5 Write short notes: (Any three) 14
(1) Cost Concept
(2) Dual aspect concept
(3) Master File and Transaction File
(4) Importance of Financial Manager
(5) Factor affecting working capital requirement.
(6) Rules of Debit and Credit.
RF-4796] 7 [ 200 ]
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Attachment: |
| Earning: Approval pending. |
