Madras University (UnOM) 2007 B.C.A Computer Application Accounts - Question Paper

Cash in Hand 1,000
8,000
6,000
6,000
5,000
200
26,200
26,200



Ram died on 31st March 1995. Under the partnership agreement the executor of Ram was entitled to :
(a) Amount standing to the credit of his capital account.
(b) Interest on capital which amounted to Rs. 62.50.
© His share of goodwill Rs. 3,500.
(d) His share of profit from the closing of the last financial year to the date of death which amounted to Rs. 437.50.
Ram’s executor was paid Rs. 1,800 on first April 1995 and the balance in 4 equal yearly instalments starting from 31/3/1996 with interest @ 6% p.a.
Pass the necessary Journal entries and draw up Ram’s Account to be rendered to his executor and Ram’s Executor’s account till it is finally paid.

SIS OF FINANCIAL STATEMENTS)

Q10) When does flow of funds take place? discuss briefly? (Marks 3)

Q11) A company earns a gross profit of 20% on cost. Its credit sales are twice its cash sales. If the credit sales are Rs. 4,00,000, compute the gross profit ratio of the company. (Marks 4)

Q12) obtain out the sources and application of funds from the details provided beneath extracted from the Balance Sheet of Arun Ltd:



Machinery at cost
Provision for Depreciation on Machinery
31/12/1997
Rs.
8,00,000
1,00,000 31/12/1998
Rs.
14,00,000
1,50,000

Additional info :
During the year a piece of machinery costing Rs. 30,000 on which accumulated depreciation was Rs.10,000 was sold for Rs. 25,000 (Marks 5)

Q13) Briefly discuss the meaning and significance of any 2 of the subsequent ratios :
(i) Return on Investment,
(ii) Debt - Equity Ratio and
(iii) Stock Turnover Ratio. (Marks 5)

Q14) Prepare a comparative income statement of X Ltd., with the help of the subsequent information:


Sales
Cost of goods sold
1997
Rs.
1,00,000
60% of Sales
1998
Rs.
2,00,000
70% of Sales

Indirect expenses
Rate of Income Tax 10% of Gross Profit
50% of Net Profit before Tax

(Marks 5)

Q15) What is meant by analysis of financial statements? Briefly discuss horizontal analysis.? (Marks 6)

Q16) compute any 3 of the subsequent ratio with the help of he subsequent info :
(i) Operating ratio, (ii) Current ratio, (iii) Capital turnover ratio and (iv) Debt to total funds ratio.

Earning:   Approval pending.