Tamil Nadu Open University (TNOU) 2009-1st Sem M.C.A - - Accounting and Finance management -- II - Question Paper
M.C.A. DEGREE EXAMINATION, 2009
( 1st SEMESTER )
( PAPER - II )
121. ACCOUNTING AND FINANCIAL
MANAGEMENT
( New Regulations )
December ] [ Time : three Hours
Maximum : 100 Marks
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13. The following ratios relate to the trading activities of X - Ltd. :
Debtors velocity - 3 months.
Stock velocity - 8 months.
Creditors velocity - 2 months.
Gross profit ratio - 25 %.
Gross profit for the year ended 31st December, 2008 amounted to Rs. 4,00,000. Closing stock of the year is Rs. 10,000 above the opening stock. Bills receivable amounted to Rs. 25,000 and bills payable to Rs. 10,000.
Calculate:
(a) Sales.
(b) Sundry debtors.
(c) Sundry creditors and (d) Closing stock.
Name of the Candidate :
6 9 12 M.C.A. DEGREE EXAMINATION, 2009
(FIRST SEMESTER)
( PAPER - II)
121. ACCOUNTING AND FINANCIAL MANAGEMENT
( New Regulations )
December ] [ Time : 3 Hours
Maximum : 100 Marks
Answer any EIGHT questions.
All questions carry equal marks.
1. Explain the rules of journalising with suitable examples.
2. What is the need for analysis and interpretation of financial statements ?
3. Explain the concept working capital.
4. On 31st March, 2009 the bank pass book showed a balance of Rs. 10,500. Cheques amounting to Rs. 2,750 were deposited in the bank but only cheques of Rs. 750 had not been cleared upto 31st March. Cheques amounting to Rs. 3,500 were issued but a cheque for Rs. 1,200 had not been presented for payment in the bank upto 31st March. Bank had given the debit of Rs. 35 for sundry charges and also, bank had received directly from customers Rs. 800 and dividend of Rs. 130 upto 31st March. Find out the balance as per cash book.
5. Correct the following errors unearthed before preparation of the trial balance.
(a) The total of the returns outward book is Rs. 120 short.
(b) A purchase of Rs. 250 from Arul has been posted to the debit of his account.
(c) A machine purchased for Rs. 1,00,000 has been entered in the purchase account.
(d) A sale of Rs. 275 to Natarajan has been entered in his account as Rs. 257.
Ledger balances: Rs.
Stock in trade
Calculate:
(i) Liquid ratio.
(ii) Solvency ratio and (iii) Debt equity ratio.
SECTION - B (3 x 20 = 60)
Answer any THREE questions.
All questions carry equal marks.
11. Define cost accounting ? What are its objectives ? State the advantages of cost accounting.
12. From the following balances and additional information, you are required to prepare trading and profit and loss account and balance sheet:
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7. From the following data, calculate the breakeven point expressed in terms of units and also, the new break - even point if the selling price is reduced by 10 % :
Fixed expenses - Rs. 1,00,000
Depreciation (fixed) - Rs. 1,00,000
Variable expenses per unit :
Materials - Rs. 3
Labour - Rs. 2
Selling price per unit - Rs. 10.
8. There is a plan to prepare a production budget for three products A, B and C. The sales forecast for three products is 1,66,400,
1,45,600 and 1,76,800 units respectively. The estimated requirements on inventory both at the beginning and at the end of the budget periods are shown in the following schedule :
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1st January (Units) 31st December (Units) |
Products | ||
|
A |
B |
C | |
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32,000 57,600 |
24,000 22,320 |
40,000 55,200 | |
You are required to prepare the production budget.
9. A company is considering two projects-A and B each requiring a cash outlay of Rs. 15,000. The following are the cash inflows from each project:
Cash inflows
|
Year |
Project - A Rs. |
Project -B Rs. |
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1 |
2,500 |
8,000 |
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2 |
2,500 |
6,000 |
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3 |
2,500 |
3,000 |
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4 |
5,000 |
2,000 |
|
5 |
7,000 |
1,000 |
If the cut - off pay back period is 3 years, suggest which project should be accepted.
10. The balance sheet of a company as on 31-12-2008 is as follows:
|
Liabilities |
Rs. |
Assets |
Rs. |
|
Share capital: Equity shares of Rs. 10/- each Reserve fund 7 % debentures Overdraft Creditors |
10,00,000 1,00,000 3.00.000 2.00.000 3,00,000 |
Fixed assets Stock Debtors Cash |
10,00,000 4.00.000 3.00.000 2.00.000 |
|
19,00,000 |
19,00,000 |
(c) Direct expenses - 10
(d) Works over heads
(60 % fixed) - 225
(e) Administrative overheads - 40
(f) Selling overheads
(50 % fixed) - 20
For want of demand, the actual production for the period was only 60,000 units. Calculate the budgeted cost per unit under both the original plan and under actual performance.
14. The following are the particulars of M - Ltd. manufacturing a product:
Rs.
Total fixed expenses - 18,000 Total variable expenses - 30,000 Total sales - 60,000
Units sold - 20,000
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Calculate | |
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(i) |
Contribution per unit. |
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(ii) |
Break - even point. |
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(iii) |
Margin of safety. |
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(iv) |
Profit |
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and (v) |
Sales to earn a profit of Rs. 24,000 |
15. An engineering company had prepared its budget for 2008 based on the production of one lakh units of their only product as follows:
(Rs. 000)
(a) Raw materials - 252
(b) Direct labour - 75
Turn over
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Attachment: |
| Earning: Approval pending. |
