Annamalai University 2008-2nd Year B.B.A " 230 FINANCIAL AND COST ACCOUNTING " ( PART - III ) ( - V ) - Question Paper
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Name of the Candidate :
5 19 6 B.B.A. DEGREE EXAMINATION, 2008
(ENGLISH MEDIUM)
(SECOND YEAR)
(PART - III)
(PAPER - V)
230. FINANCIAL AND COST ACCOUNTING
(Including Lateral Entry )
December ] [ Time : 3 Hours
Maximum : 100 Marks
SECTION - A (10x2 = 20)
Answer any TEN questions.
All questions carry equal marks.
1. (a) Define accounting.
(b) What is ledger ?
(c) What do you mean by Provision ?
(d) What is balance sheet ?
(e) What is revenue expenditure ?
(f) What is depreciation fund ?
(g) How do you treat the adjustment LIC Premium Paid in the preparation of final accounts ?
(h) What do you mean by Adjustment ?
(i) What are the elements of cost ?
(j) What is GRN No. ?
(k) What is labour cost ?
(/) What is EOQ ?
Answer any FOUR questions.
All questions carry equal marks.
Distinguish between receipts and payments account and income and expenditure account.
(i) Stock on hand at 31-12-2005 Rs. 4,900.
(ii) Salaries outstanding Rs. 300.
(iii) Rent paid in advance Rs. 200.
(iv) Insurance paid in advance Rs. 90.
(v) Depreciate machinery by 10 per cent.
(vi) Goods taken by proprietor for his own use Rs. 100.
11. From the following ledger balances, prepare trading, profit and loss account for the year ended December - 31, 2005 and a balance sheet as at that date :
Debit balances : Rs.
Purchases - 15,000
Salaries - 2,000
Rent - 1,500
Insurance - 300
Drawings - 5,000
Machinery - 28,000
Bank - 4,500
Cash - 2,000
Stock - 5,200
Debtors - 2,500 Credit balances :
Capital - 40,000
Sales - 25,000
3. Describe the causes of depreciation.
4. Explain the advantages of cost accounting.
5. Write a note on Stores Control.
6. From the following, prepare an income and expenditure account for the year ended 31st March, 2005 :
|
Rs. |
Rs. | ||
|
To Balance b/d |
By Salaries |
3,60,000 | |
|
(1-4-2004) |
,, Rent |
60,000 | |
|
Cash at bank |
45,500 | ||
|
Printing and | |||
|
Cash in hand |
5,500 |
stationary |
14,500 |
|
,, Subscription |
,, Postage and | ||
|
(including Rs. 2,000 |
telegraphs |
2,500 | |
|
for 2005 - 2006) |
3,00,000 |
,, Purchase of | |
|
,, Interest on |
bicycles |
9,500 | |
|
investment |
1,50,000 |
,, Purchase of | |
|
Govt, bonds |
68,000 | ||
|
Bank interest |
1,000 | ||
|
,, Balance c/d | |||
|
,, Sale proceeds |
(31-3-2005) | ||
|
of car |
25,000 |
Cash in hand |
1,200 |
|
Cash at bank |
11,300 | ||
|
5,27,000 |
5,27,000 |
7. Using the following data, calculate the earning of a worker under
(a) Time rate method.
(b) Piece rate method.
(c) Halsey plan and (d) Rowan plan.
Time allowed - 48 hours.
Time taken - 40 hours.
Rate per hour - Rs. 15.
SECTION - C (2 x 20 = 40)
Answer any TWO questions.
All questions carry equal marks.
8. Explain the nature and objectives of accounting.
9. Describe the bases of apportionment of overhead.
10. From the following information, prepare stores ledger under FIFO method :
January-1, Opening balance 500 units @ Rs. 4.
January-5, Received from vendor 200 units @ Rs. 4-25.
January-12, Received from vendor 150 units @ Rs. 4-10.
January - 20, Received from vendor 300 units @ Rs. 4-50.
January-25, Received from vendor 400 units @ Rs. 4.
Issue of materials :
January - 4 - 200 units.
January- 10 - 400 units.
January-15 - 100 units.
January-19 - 100 units.
January - 26 - 200 units.
January - 30 - 250 units.
Turn over
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Attachment: |
| Earning: Approval pending. |
