Uttar Pradesh Technical University (UPTU) 2009-1st Sem M.C.A --ester- Accounting and Financial Management - Question Paper
MCA
(I sem) Odd semester theory exam
Accounting and Financial Management
Printed Pages: 7 MCA112
(Following Paper ID and Roll No. to be filled in your Answer Book) Roll No.
PAPER ID : 7302
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(SEM I) ODD SEMESTER THEORY EXAMINATION 2009-10 ACCOUNTING & FINANCIAL MANAGEMENT
Time : 3 Hours} {Total Marks : Jfti)
1 Attempt all question of this section :
Fill in the blanks : 1*10
(a) The system of recording imp6rtant transactions is called concept.
(b) The convention of conservatism, when appiied takes care of all the ___
(c) The convention of disclosure implies that all
____information should be disclosed in
the accounts.
(d) The basic function of financial accounting is to record all transactions.
(e) Book keeping is mainly concerned with recording of financial data relating to business .
(f) The amount brought in by the proprietor in the business should be credited to ____account.
(g) The return of goods by a customer should be debited to account.
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(h) In case of a debt becoming bad, the amount should be credited to_account.
(i) The cash discount allowed to a debtor should be credited to _____ account.
(j) Trial balance helps in knowing the__
accuracy of the accounting entries.
Explain the following terms : 1x10
(k) New working capital
(1) Intangible assets
(m) Current liabilities
(n) Net worth
(o) Ledger
(p) Capital employed
(q) Shareholders fund
(r) Trend analysis
(s) Closing stock
(t) Real account.
2 Attempt any three of the following : 10x3
{a) Define accounting, What are the functions of accounting ? How does it differ from book keeping ?
(b) Attempt both the parts :
(i) What do you understand by analysis of Financial statements ? Describe the uses of such analysis.
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(ii) Rectify the following errors : (a) Furniture purchased for Rs. 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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June 20 Paid salaries Rs 1,800.
June 25 Withdrawn for personal use Rs. 250.
June 26 Goods returned to Anwar Rs. 100.
June 27 Paid for office furniture Rs. 1,500 by cFieque.
June 28 Received Rs. 3,900 cash from Anbu and discount allowed Rs. 50.
June 29 Paid Anwar on account Rs. 4,800 and discount allowed by him Rs. 100.
The following balances are drawn from the
(cl)
books of M/s Arvind Mills as on 31-12-2008 :
|
Account |
Amount Rs. |
Account |
Amount Rs. |
|
Land Building |
1,00,000 |
Sales Purchases |
3.00.000 |
|
Sales returns |
2.00.000 |
Stock (1-1-07) |
i.75.000 |
|
Purchase returns |
10,000 |
Debtors |
25.000 |
|
Bank overdraft |
5,000 |
Cash in hand |
50.000 |
|
Creditors |
15,000 |
Salaries |
5.000 |
|
Wages |
20,000 |
Goodwill |
10.000 |
|
General expenses |
12,000 |
Selling expenses |
15.000 |
|
Bad debts |
5.000 |
Insurance |
12.000 |
|
Capital |
2,HI,000 |
Adjustements :
(a) Closing stock is Rs. 30,000.
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(b) Provide for depreciation @ 10% on buildings
(c) Write off further bad debts Rs. 1,000
(d) Salaries yet to be paid Rs. 3,000.
Required : To prepare a P and L A/c and balance sheet M/s Arvind Mills.
(e) Tiny Toys Ltd. Furnish you the following Balance Sheets for the year ending 31st December, 2007 and 2008. You are required to prepare a cash flow statement for the year ending 31st December, 2008.
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Following additonal informational has also been supplied : |
3 Attempt any one of the following :
(a) What are the accounting concepts ? Name them and explain any two accounting concpets in detail.
(b) 'Entity' and 'Continuity1 concepts are interrelated. Comment.
4 Attempt any one of the following :
(a) What do you mean by Journal ? Why is it called the book of original entry ?
(b) What is trial balance ? Explain its objectives.
5 Attempt any one of the following :
(a) Distinguish between ;
(i) Personal and impersonal account.
(ii) Real and nominal account.
(iii) Errors of principle and errors of omission.
(b) Give a specimen of vertical form of Profit and Loss A/c and Balance Sheet of a company.
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Attempt any one of the following :
(a) Explain the following ratios :
(i) P/E ratio.
(ii) Debt equity ratio.
(iii) Debtor's turnover ratio.
(iv) Quick ratio.
(v) Debt coverage ratio.
(b) What are the uses and limitations of financial ratio analysis ?
Attempt any one of the following :
(a) "A Fund Flow Statement is a better substitute for an Income Statement". Discuss.
(b) What is a Cash Flow Statement ? Explain the technique of preparing Cash Flow Statement with imaginary figures.
A piece of land has been sold for Rs. 400,
(ii) Depreciation amounting to Rs.700 has been charged on building.
(iii) Provision for taxation has been made for Rs. 1900 during the year.
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Attachment: |
| Earning: Approval pending. |
