Jawaharlal Nehru Technological University Hyderabad 2012-1st Sem M.B.A Financial Accounting and Analysis(E5104), s - Question Paper

Regulations : R09

Subject : FAA

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Code No: E5104

JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD MBA - I Semester Examinations, February / March -2012 FINANCIAL ACCOUNTING AND ANALYSIS Time: 3hours    Max. Marks: 60

Answer any five questions All questions carry equal marks

1.    Explain the following:

a)    What is accounting, what is its objectives, scope and functions?

b)    What are Accounting Conventions list and explain in brief?

2.    Journalise following entries in the books Subramanian and Co for the month ending March 2009:

No.	Date	Description	Amount Rs.
1	2 - Dec - 09	Business started with Capital brought in cash	1000000
2	6 - Dec -09	Cash deposited in Andhra Bank	800000
3	12 - Dec - 09	Purchased goods from Mr. X on credit	1500000
4	15 - Dec - 09	Sold goods to Mr. Y. on credit	200000
5	20 - Dec - 09	Paid Office Salaries	2000000
6	21 - Dec - 09	Received Cash from Mr. Y	2000000
7	22 - Dec - 09	Paid to Mr. X and requested a discount of Rs.50000 and accepted	1450000
8	24 - Dec - 09	Paid Office Rent	100000
9	26 - Dec - 09	Paid Transport	5000
10	28 - Dec - 09	Drawn cash for office purpose	25000
11	30 - Dec - 09	Sold goods for cash	500000
12	31 - Dec - 09	Purchased goods for credit	1500000

3.    Write briefly.

a)    GAAP

b)    ABC Analysis

c)    Du - pont chart analysis

d)    ROI

4.    Explain the following: A Prepare Stores Ledger A/c under LIFO for XYZ Ltd for the Month Endings:

SNo. Date Description Qty. KGs Rate Per KG 1 1 - March - 10 Received Stock 2000 65 2 3 - March - 10 Received Stock 8000 75 3 5 - March - 10 Issued stock to Job -09101 6000 4 8 - March - 10 Received stock 10000 100 5 10 - March - 10 Issued stock to Job - 09101 5000 6 31 - March -10 Issued stock to Job - 09101 3000

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B Prepare Depreciation Account with the help of following information, if company had a policy of WDV 25% per annum, if a machine worked even one in month half of the depreciation will be charged during that year and above 6 months for full year. The Accounting Year of the company is 1^st January to 31^st December of every year:

MHVP Ltd purchased a second hand machine on 01-01-2009 for Rs1500000 and spent Rs.200000 on installation. On 01-06-2009 company purchased another machine or Rs. 1500000 & On the same day the first machine (i.e., Rs15.00 lakhs was sold or Rs.1000000. Prepare Depreciation and Machine Account.

5. Explain the following:

a)    Prepare Model Journal Entries for Issue and Redemption of Debenture with Discount, Par and Premiums.

b)    What is Forfeiture, prepare model entries for forfeiture of shares issued at par, premium and discount.

6. Prepare statement of sources and uses with the help of balance sheet of SVR Ltd.

Balance Sheet 2008 2009 2008 2009 Equities Rs. Rs. Assets Rs. Rs. Equity Capital 400000 400000 Land & Buildings 200000 200000 Accumulated Profits 200000 500000 Motor Vehicles 500000 800000 Debentures 600000 500000 Furniture& Fixtures 600000 400000 LT Loans 500000 600000 ST Investments 100000 100000 Creditors 100000 175000 Marketable Securities 400000 500000 Bills Payable 400000 300000 Debtors 700000 300000 ST Bank Loan 200000 500000 Bills Receivables 50000 300000 Income Tax Provision 150000 200000 Outstanding Interest 100000 500000 Outstanding Insurance 200000 400000 Prepaid Expenses 7000 200000 Outstanding Salaries 100000 400000 Inventory 180000 550000 Income received in advance 50000 25000 Cash & Bank 100000 150000 Total 3000000 4000000 Total 3000000 4000000

Additional Information:

Profit during the year is Rs. 3000000 (Accumulated Profits A/c)

Tax paid during the year is Rs.100000.

Depreciation during the period is only on Motor Vehicles is Rs.50000. Accumulated depreciation on Vehicles is Rs. 100000.

7. Explain the following:

a)    Methods of Goodwill Valuation

b)    What are Accounting Concepts list and explain any five?

8. The following is the Balance Sheet of MUL Ltd.

Particulars 2008 2009 Particulars 2008 2009 Equities Rs. Rs. Assets Rs. Rs. Equity Capital 500000 400000 Land & Buildings 200000 800000 Reserves & Surplus 200000 500000 Motor Vehicles 200000 300000 Debentures 200000 500000 Furniture & Fixtures 400000 700000 LT Loans 400000 600000 ST Investments 300000 500000 Creditors 100000 200000 Marketable Securities 200000 500000 Bills Payable 500000 800000 Debtors 1000000 500000 ST Bank Loan 500000 500000 Bills Receivables 250000 400000 Income Tax Provision 200000 200000 Out standings Interest 200000 500000 Dividend Provision 400000 800000 Prepaid Expenses 250000 300000 Total 3000000 4500000 Total 3000000 4500000

You are requested to determine Liquidity Leverage & Probability Ratios and comment on financial position of the company if sales of the company is Rs.

5.00 Lakhs.

Attachment: jawaharlal-nehru-technological-university-hyderabad-2012-m-b-a-47242-1.pdf

Earning:   Approval pending.