Tamil Nadu Open University (TNOU) 2006 M.C.A ACCOUNTING AND FINANCE ON COMPUTERS - Question Paper

Tamil Nadu Open University Master of Computer Applications (MCA) - MCA13 June 2006
June 2006

M.C.A. DEGREE exam - JUNE 2006.
Third Semester / 2nd Year

(For candidates admitted in AY 2004-05 and CY 2005 and AY 2005-06 lateral entry candidates)

ACCOUNTING AND FINANCE ON COMPUTERS
Time:3 hours

Maximum marks: 75

PART A - (5x5=25 marks)
ans any 5 ques..

1.Discuss the role of an Internal auditor and an External auditor.

2.How are Overheads classified?

3.'Dividends can be paid only out of profits’.

4. What do you understand from the term ‘Trading on equity’?

5. subsequent is the summarized Profit and Loss account of just enterprise for 3 consecutive periods. Supply the missing info. Additional information:

(a) Investments costing Rs. 8,000 were sold during the year for Rs. 8,500.

(b) Provision for taxation made during the year was Rs. 9,000

(c) During the year pa of the fixed assets costing Rs. 10,000 were sold for Rs. 12,000 and the profit was included in profit and loss account.

(d) Dividends paid during the year amounted to 40,000.

first year second year third year
(Rs) (Rs) (Rs)
Sales 10,000 12,000
Cost of goods sold 3,000 4,000
Gross profit 6,000 8,000
Administrative expenses 500 1,500
Selling expenses 300 500
Operating profit 5,100 6,000
Other income 500 500
Net profit before tax 6,600 6,500
Income tax 300 600
Profit after tax 5,300 6,000

6. Trustworthy industry turns out only 1 article with the subsequent standards per completed piece Materials five kgs @ Rs. 4.20 Rs. 21 The production schedule for the month of July 2000 needed completion of 5,000 pieces. However 5,120 pieces were truly completed. Purchase for the month of July 2000 amounted to 30,000 kgs of material at the total invoice price of Rs. 1,35,000, Production records for the month of July 2000 showed that materials requisitioned and used was 25,700 kgs. compute the improper materialvariances.

7. The subsequent figures relate to the maintenance expenses incurred in a machine shop and the corresponding machine hours for a period of four months.

Month Machine hours Maintenance

expenses (Rs)

January 1,000 4,000

February 1,500 5,000

March 500 3,000

April 2,000 6,000

Segregate the Maintenance expenses into fixed and variable elements.

PART B - (5x10=50 marks)
ans any 5 ques..

8. explain the concept of working capital and distinguish ranging from fixed and fluctuating working capital.

9. discuss the subsequent accounting concepts

(a) Money measurement concept (b) Cost concept (c) Consistency concept.

Earning:   Approval pending.