DOEACC Society 2006 DOEACC B Level BE9 Accounting & Financial Management ( ) - Question Paper

BE9-R3: ACCOUNTANCY AND FINANCIAL MANAGEMENT
NOTE:
Time: three Hours Total Marks: 100
1.
a) Journalize any 4 of the subsequent transactions in the books of accounts:
i) An amount of Rs. 19,000 received from M/s. XYZ Company and a discount of
Rs. 1,000 allowed to the company.
ii) Purchased goods worth Rs. 50,000 out of it, Rs. 10,000 paid in cash and a
cheque issued for the remaining amount.
iii) Goods with invoice price of Rs. 20,000 purchased from M/s. ABC Company on
credit and it allowed a trade discount of 5% on the invoice price.
iv) Goods worth of Rs. 8,000 were destroyed in fire. Insurance company has
accepted the claim upto Rs. 7,000 which would be paid after two months through
cheque.
v) Goods worth Rs. 5,000 purchased on cash basis were returned to M/s MN & Co.
which would make payment for the identical in future.
b) Distinguish ranging from any 5 of the following:
i) Trial Balance and Balance Sheet
ii) Cash Flow Statement and Funds Flow Statement
iii) Return on Equity and Return on Investment
iv) Direct Cost and Variable Cost
v) Financial Accounting and Cost Accounting
vi) Trade Discount and Cash Discount
c) Accept any 5 of the subsequent in not more than 50 words each:
i) discuss the accounting concept of going concern.
ii) provide any 2 applications of the Cost-Volume-Project Analysis.
iii) explain any 2 important problems in Working Capital Management.
iv) Write briefly about Cash Budget.
v) describe Contribution Margin and C/S Ratio.
vi) explain in brief any 1 Discounted Cash flow technique of Capital Budgeting
Decisions.
(8+10+10)
2. Mr. Patel carried on business as a Cloth Manufacturer. On 31st March, 2006 the
subsequent Trial Balance was prepared.
Dr. Balances Rs. Cr. Balances Rs.
Freehold Land 1,35,000 Bank Overdraft 11,900
Machinery 15,000 Creditors 12,900
Furniture 1,400 Capital 1,31,200
Wages 3,700 Sales (credit) 13,200
Purchases (credit) 6,600 Sales (cash) 6,000
General Expenses 190 Returns outward 300
Carriage 210
Discounts 140
Taxes 60
Travelling Expenses 200
Drawings 2,000
Returns inward 1,000
Purchases (Cash) 10,000
Total 1,75,500 Total 1,75,500
BE9-R3 Page one of four July, 2006
1. ans ques. one and any 4 ques. from two to 7.
2. Parts of the identical ques. should be answered together and in the identical
sequence.
Prepare Trading Account, Profit & Loss Account and a Balance Sheet taking into
consideration the following:
a) Depreciate Furniture by 5%; Machinery by 7.5%.
b) The stock on 31st March 2006 was taken as Rs. 5,000.

Earning:   Approval pending.