Tamil Nadu Open University (TNOU) 2008-3rd Sem M.C.A 2nd year / " Accounting And Finance on Computer - Question Paper

MCA-653    MCA-13

M.C.A. DEGREE EXAMINATION - JUNE 2008.

Second Year/Third Semester ACCOUNTING AND FINANCE ON COMPUTERS

Time : 3 hours    Maximum marks : 75

Answer for 5 marks questions should not exceed 2 pages.

Answer for 10/15 marks questions should not exceed

5 pages.

PART A (5 x 5 = 25 marks)

Answer any FIVE questions

1.    State the rules of debiting and crediting.

2.    How is cost volume profit analysis useful to the management?

3.    Explain the significance of capital gearing ratio.

4.    How does cash budget help the management?

Shares Capital    1,00,000 Share Premium     General Reserve    50,000 Creditors    2,10,000

1,50,000 Land Plant 50.000    at cost Debtors 60.000    Stock 80.000    Cash

1,00,000    1,00,000 1,10,000    1,00,000 50.000    70,000 40.000    50,000 60.000    20,000

---

3,60,000 3,40,000

6.    From the following particulars calculate wages earned by workers A and B respectively under Taylors system.

Standard time allowed : 10 units per hour

Normal wage rate : Rs 1 per hour

Differential rates to be applied :

75 per cent of piece rate when below standard efficiency

125 per cent of piece rate when at or above standard production on a day of 8 hours

A - 60 units    B - 100 units.

7.    Find out the quantity of Raw material to be purchased from the following details.

2    MCA-653

Opening stock of Raw materials    15,000 kgs

Material expected to be consumed 20,000 kgs Closing stock of Raw material required 10,000 kgs. PART B (5 x 10 = 50 marks)

Answer any FIVE questions.

8.    Discuss the various types of accounts.

9.    How are the working capital needs of a firm determined?

10.    Define cost accounting. What are its objectives?

11.    K. Ltd Produces and sells a product for which total capacity of 2000 units exists. The following expenses are for the production of 1,000 units of the product which is sold at Rs. 130 per unit.

Per unit (Rs.)

Direct materials 20 Direct wages 30 Administration overheads (constant) 20 Selling expenses (50% fixed) 10 Distribution expenses (25% fixed) 20 100 You are required to prepare a flexible budget for

the production and sale of 1,200 units and 2,000 units

showing clearly the marginal (variable ) cost and total cost at each level.

12. The following are the Income statement of J.Ltd. For the year ending 31^st December 1999 and 1998. You are required to prepare a comparative Income statement for the two years.

	31.12.1998	31.12.1999
	Rs.	Rs.
Net Sales	10,00,000	12,00,000
Cost of goods sold	5,50,000	6,05,000
Operating expenses
Administration	80,000	1,00,000
Selling	60,000	80,000
Non-operating expenses
Interest	40,000	50,000
Income tax	50,000	80,000
13. From the following Trail Balance		prepare Trading,
Profit and Loss account and Balance Sheet for the Year
ending 31st March 2001.
Trial Balance	as on 31st March 2001
Particulars	Debit	Credit
	Rs.	Rs.
Shares Capital		2,00,000
Furniture	1,00,000
Sundry debtors	30,000
Sundry Creditors		30,000
Cash in hand	10,000
	Rs.	Rs.
Purchases	50,000
Sales		40,000
	4	MCA-653

Purchases returns Wages Telephone bill Carriage outwards Selling expenses General expenses Opening stock Discount allowed Administrative expenses Postage and stationary Discount received Administrative expenses

7.000 4.000 3.000 6.000 8,000 40,000 2,000 5.000 2.000 3,000 8,000

---

2,75,000 2,75,000

The following adjustments are to be made:

(a)    Depreciate Furniture by 5%

(b)    Outstanding Rent is Rs. 200

(c)    Insurace premium paid up to 30^th June 2001

(d)    Stock in hand as on 31^st December is Rs. 30,000

(e)    Provide Reserve for bad debts 10%.

14. Ms. Asoka Ltd. has submitted the following Balance Sheet for the year ending 31^st March 2007

Revenue reserves	30,000	Current Assets :
8% Debentures	20,000	Stock	22,000
Sundry Creditors	49,000	Debtors	51,000

Bills Receivable	2	,000
Bank	12	,000
2,49,000	,4 2,	,000

Find the Current ratio and Liquid ratio and comment on the financial condition of the company.

6    MCA-653

Attachment: tamil-nadu-open-university--tnou--2008-m-c-a--50138-1.pdf

Earning:   Approval pending.