Tamil Nadu Open University (TNOU) 2009-2nd Year B.B.A .>>Computer Application FINANCIAL AND MANAGEMENT>>E, .>> - exam paper

B.B.A. DEGREE exam – JUNE, 2009.
Second Year
Computer Application
FINANCIAL AND MANAGEMENT
ACCOUNTING
Time : three hours Maximum marks : 75

PART A — (3 ´ five = 15 marks)
ans any 3 ques..
All ques. carry equal marks.
1. What is Double Entry Book Keeping System?
2. What is the purpose of preparation of Final
Accounts?
3. Journalise the subsequent transaction :
(a) Depreciation on machinery Rs. 5,000.
(b) Salary paid to employees Rs. 6,000.
4. obtain net profit ratio from the subsequent :
Rs.
Gross profit 1,50,000
Salaries paid 10,000
Tax paid 10,000
Dividend paid 20,000
Depreciation 10,000
Sales for the year 2,00,000
5. From the subsequent balance sheets, prepare a
schedule of modifications in working capital.
Balance Sheets
Liabilities 2007 2008 Assets 2007 2008
Rs. Rs. Rs. Rs.
Share capital 1,00,000 1,50,000 Fixed Assets 75,000 1,50,000
Reserves & Surplus 50,000 60,000 Stock 25,000 40,000
Current Liabilities 20,000 40,000 Debtors 50,000 50,000
Other liabilities 10,000 5,000 Cash in hand 10,000 10,000
Cash at bank 20,000 5,000
1,80,000 2,55,000 1,80,000 2,55,000
PART B — (4 ´ 15 = 60 marks)
ans any 4 ques..
All ques. carry equal marks.
6. What is Budget? discuss the kinds of budget.
7. Write short notes on :
(a) fault of Principle.
(b) fault of Omission.
(c) fault of Commission.
8. The summarized balance sheets of ABC Limited as
on 31.12.2007 and 31.12.2008 are provided beneath :
Balance Sheets (Rs. in thousands)
Liabilities 2007 2008 Assets 2007 2008
Rs. Rs. Rs. Rs.
Share capital 400 400 Fixed Assets 400 320
Reserves 300 310 Investment 100 80
P & L a/c 60 66 Stock 300 200
Liabilities 2007 2008 Assets 2007 2008
Rs. Rs. Rs. Rs.
Creditors 100 66 Debtors 100 400
Provision for
taxation
75 10 Bank 35 —
Bank loan — 148
935 1,000 935 1,000
Additional info :
(a) Provision for tax made during the year was Rs.
9,000 p.a.
(b) Dividend paid during the year was
Rs. 4,000 p.a.
Prepare Funds Flow Statement.
9. From the subsequent particulars, obtain
(a) P/V Ratio.
(b) BEP Sales (in rupees).
(c) Margin of Safety.
Rs.
Sales 1,00,000
(—) Variable cost 60,000
Contribution 40,000
(—) Fixed cost 20,000
Profit 20,000
10. From the data provided beneath calculate the value of
current asset, current liability and liquid ratio.
Working capital – Rs. 60,000.
Working capital ratio = 3.5.
Current ratio = 4.5.
Stock – Rs. 10,000.
11. Prepare trading account of Archana for the year
ending 31.12.96 from the subsequent info :
Rs.
Opening stock 80,000
Purchases 8,60,000
Freight inward 52,000
Wages 24,000
Credit sales 14,40,000
Purchase returns 10,000
Rs.
Sales returns 3,16,000
Closing stock 1,00,000
Adjustments :
(a) Outstanding wages Rs. 1,000.
(b) Unrecorded cash sales amounted to Rs. 6,000.
12. calculate working capital turnover ratio :
Current Assets : Rs.
Stock 60,000
Debtors 40,000
B/R 1,00,000
Cash in hand 40,000
Cash at bank 20,000
Interest accrued 10,000
Prepaid insurance 30,000
Current Liabilities : Rs.
B/P 40,000
Outstanding expenses 20,000
Creditors 40,000
Sales for the year 4,00,000
Sales return 40,000
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Earning:   Approval pending.