Rajasthan Technical University 2011 M.C.A Sem - I (Main & Back)- (New Scheme), Subject: Accounting & Financial Management (-102) - Question Paper

Total Printed Pages : 3

1C7102

M. C. A. (Sem. I) (Main/Back) Examination, January - 2011 U MCA-102 Accounting & Financial Management (New Scheme)

Total Printed Pages : 3

1C7102

[Total Marks: 80 [Min. Passing Marks : 32

Attempt all questions. Marks of questions are indicated against each question.

Use of following supporting material is permitted during examination. {Mentioned in form No. 205)

1    Answer the following in short : 10x1=10

(i)    Distinguish between cash discount and trade discount.

(ii)    Write rule of debit and credit for nominal account.

(iii)    What do you mean by Trial Balance?

(iv)    Define EPS.

(v)    What is BEP?

(vi)    Mr A. started business with cash Rs.50,000. At the end of year he had assets amounting to Rs80,000 and liabilities of Rs30,000 How much did he earned during the year ?

(vii)    What are fictitious assets? Give two examples.

(viii)Give    an example of deferred revenue expenditure.

(ix)    Give two limitations of Accounting Ratios.

(x)    If current Ratio is 2:1 and working capital is Rs2,00,000. Find current assets.

2    Journalize the transactions given below in t&e books of Kohli. April 2008

1    Kohli starts business with Rs. 20,000. Kohli opens account with bank and deposits Rs, 18,000

2    Kohli purchases furniture, Rs.850, and typewriter, Rs. 1,500. Payment made by cheque.

3    Goods purchased from M/s. Rao and Murty on credit Rs.5,600.

4    Goods purchased from M/s. Khan and Singh for cash, Rs. 1,100

5    Goods sold on credit to M/s.Mohan Lai & Co., Rs 1,500.

6    Goods sold on credit to M/s. Basu & Co., Rs. 2,800.

7    Paid for office stationery, Rs.250.

8	Paid rent for April, Rs.200.
9	Installed neon sign at a cost of Rs. 1,000.
	Paid for postage stamps, Rs.10.
10	Received cash from M/s. Mohanlal & Co., Rs. 1,470 ; allowed
	them discount, Rs.30.
11	Issued cheque for Rs.5,500 in full settlement (i,e., nothing
	more is due them) to M/s. Rao & Murty.
12	Deposited Rs. 1,200 in bank.
13	Received bill for two table fans, Rs.300, from M/s. Electrician
	Bros.
15	One electric fan stolen.
16	Paid insurance premium, Rs.450, by cheque.

20

OR

2    Write short notes on any two of the following :

(i)    Margin of safety

(ii)    Types of Budget

(iii)    Applications of Marginal costing.

10x2=20

3    (a) Explain advantages and limitations of cost accounting.

(b) Explain the procedure of setting up of Budgetary control system in a business enterprise.

7+8=15

4    From the following Trial Balance and additional information, you are required to prepare Final Accounts.

TRIAL BALANCE

as on 31st December, 2008

Particulars	Dr.Amount Rs	Cr. Amount Rs
Capital	-	20,000
Sundry Debtors	5,400
Drawings	1,800
Machinery	7,000
Sundry Creditors	--	2,800
Wages	10,000
Purchases	19,000
Opening Stock	4,000
Bank Balance	3,000
Carriage Charges	300
Salaries	400
Rant and Taxes	900
Sales		29,000
..	51,800	51,800

Additional Information

(i)    Closing Stock Rs 1,200.

(ii)    Outstanding rent and Taxes Rs 100.

(iii)    Charge depreciation on machinery at 10%.

(iv)    Wages prepaid Rs 400.

20

5 Prepare a Cash Budget for the months of May, June and Juiy, 2008 on the basis of the following information :

(i) Income and Expenditure Forecasts :

Months	Credit sales Rs.	Credit Purchases Rs.	Wages Rs.	Manufacturing Expenses fcs.	Office Expenses Rs.	Selling Expenses Rs.
March	60,000	36,000	9,000	4,000	2,000	4,000
April	62,000	38,000	8,000	3,000	1,500	5,000
May	65,000	33,000	10,000	4,500	2,500	4,500
June	58,000	35,000	8,500	3,500	2,000	3,500
July	56,000	39,000	9,500	4,000	1,000	4,500
August	60,000	34,000	8,000	3,000	1,500	4,500

(ii)    Cash balance on 1st May, 2008 Rs. 8,000.

(iii)    Plant costing Rs. 16,000 is due for delivery in July, payable 10% on delivery and the balance after 3 months.

(iv)    Advance Tax of Rs8,000 each is payable in March and June.

(v)    Period of credit allowed (a) by suppliers-two months, and (b) to customers-one month.

(vi)    Lag in payment of manufacturing expenses-1/2 month.

(vii)    Lag in payment of office and selling expenses-one month.

15

OR

What do you mean by Ratio Analysis? Explain various types of ratios which are used in analysis of financial position of a business concern.

3+12=15

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