Autonomous Colleges 2012-2nd Sem M.C.A Computer Aplications Accounts and Financial Management, - Question Paper

Government College of Engineering, Aurangabad

(An Autonomous Institute of Government of Maharashtra)

FYMCA Examination End semester examination May/June 2012 MCA108-Accounts and Financial Management

Time: Three Hours    Max. Marks.60

"Verify the course code and check whether you have got the correct question paper"

N.B:-

1.    All questions are compulsory

2.    Figures to the right indicate full marks

3.    Assume suitable data if necessary and state it clearly

4.    Use of non-programmable calculator is allowed

Q1.

a)    Explain fixed assets and depreciation.    [Marks 6]

b)    Pass journal entries of following transactions in the books of M/s Achal foods pvt ltd.    [Marks 6]

1.    12/03/12, Paid Rs.24000 to Mr. Ramesh, salary from Indian Bank A/c

2.    15/03/12, Cement purchased for construction of factory building Rs. 25000 in cash.

3.    17/03/12, Taken loan from SBI Rs. 75000

4.    20/03/12, purchased raw material 25kg Rs.4250 from M/s Vedanta on credit Q2. Solve any two-

a)    Explain types of accounts and rules of journal entries.    [Marks 6]

b)    Explain Ratio Analysis and its limitations.    [Marks 6]

c)    Explain standard costing and variance analysis.    [Marks 6]

d)    Explain Budget as a cost control technique.    [Marks 6]

Q3. Write short notes on (Any three):

1)    Variable cost

2)    Sources of Long Term Finance

3)    Acid Test Ratio

4)    Variance

5)    Gross profit Ratio

Q4. Details provided by M/s Cool Softdrinks are

Sale price per unit: Rs. 7.50 Variable cost per unit: Rs. 4.75 Fixed monthly expenses: Rs. 7425 It is expected that in may 2012, sale will be Rs. 33750

Calculate 1. Break Even Point

2. Margin of Safety

Q.5 A)    Sales for the year 2010-11 were Rs. 5 lacs, for 2011-12 were Rs. 6 lacs and Gross profit margin was 25% for both the years.    [Marks 6]

Calculate projected sales and expected gross profit for the year 2012-13

B)    The standard and actual figures of cost of product are as under:

Standard Actual

a)    Material Price Per Unit 1.40 per unit 1.50 per unit

b)    Material consumption 100    85

Calculate the Material Cost Variances.

Attachment: autonomous-colleges-2012-m-c-a-computer-aplications-5474-1.pdf

Earning:   Approval pending.