Download JNTU Anantapur (Jawaharlal Nehru Technological University Anantapuramu) MBA R17 2019 January First Semester (1st Semester) Regular & Supplementary Examinations 17E00104 Financial Accounting for Managers Question Paper.
MBA & MBA (Finance) I Semester Regular & Supplementary Examinations December/January 2018/19
FINANCIAL ACCOUNTING FOR MANAGERS
(For students admitted in 2017 & 2018 only)
Time: 3 hours Max. Marks: 60
SECTION ? A
(Answer the following: (05 X 10 = 50 Marks)
*****
1 Define accounting. Explain its objectives and merits.
OR
2 Explain the classification of accounts in detail.
3 Journalize the following transaction in the books of Shankar & Co.
1998 Rs.
June 1 started business with a capital of 60,000
June 2 paid into bank 30,000
June 4 purchased goods from Kamal on credit 10,000
June 6 paid to Shiram 4,920
June 6 discount allowed by him 80
June 8 cash sales 20,000
June 12 sold to Hameed 5,000
June 15 purchased goods from Bharat on credit 7,500
June 18 paid salaries 4,000
June 20 received from Prem 2,480
June 20 allowed him discount 20
June 25 withdraw from bank for office use 5,000
June 28 withdraw for personal use 1,000
June 30 paid Hanif by cheque 3,000.
OR
4 Discuss the accounting principles in detail.
5 On April 1, 2011, company A purchased an equipment at the cost of Rs. 140,000. This
equipment is estimated to have 5 year useful life. At the end of the 5
th
year, the salvage value
(residual value) will be Rs. 20,000. Company A recognizes depreciation to the nearest whole
month. Calculate the depreciation expenses for 2011, 2012 and 2013 using straight line
depreciation method.
OR
6 Discuss any four methods of valuing the inventory.
7 The following is the Balance sheet of a company as on 31
st
March:
Liabilities Rs Assets Rs
Share capital 2,00,000 Land and building 1,40,000
Profit and loss account 30,000 Plant and machinery 3,50,000
General reserve 40,000 stock 2,00,000
12% debentures 4,20,000 Sundry debtors 1,00,000
Sundry creditors 1,00,000 Bills receivable 10,000
Bills payable 50,000 Cash at bank 40,000
8,40,000 8,40,000
Calculate: (i) Current ratio and quick ratio. (ii) Debt to equity ratio. (iii) Proprietary ratio.
(iv) Capital gearing ratio. (v) Current assets to fixed assets ratio.
OR
8 How ratios are classified? Explain.
Contd. in page 2
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Code: 17E00104
MBA & MBA (Finance) I Semester Regular & Supplementary Examinations December/January 2018/19
FINANCIAL ACCOUNTING FOR MANAGERS
(For students admitted in 2017 & 2018 only)
Time: 3 hours Max. Marks: 60
SECTION ? A
(Answer the following: (05 X 10 = 50 Marks)
*****
1 Define accounting. Explain its objectives and merits.
OR
2 Explain the classification of accounts in detail.
3 Journalize the following transaction in the books of Shankar & Co.
1998 Rs.
June 1 started business with a capital of 60,000
June 2 paid into bank 30,000
June 4 purchased goods from Kamal on credit 10,000
June 6 paid to Shiram 4,920
June 6 discount allowed by him 80
June 8 cash sales 20,000
June 12 sold to Hameed 5,000
June 15 purchased goods from Bharat on credit 7,500
June 18 paid salaries 4,000
June 20 received from Prem 2,480
June 20 allowed him discount 20
June 25 withdraw from bank for office use 5,000
June 28 withdraw for personal use 1,000
June 30 paid Hanif by cheque 3,000.
OR
4 Discuss the accounting principles in detail.
5 On April 1, 2011, company A purchased an equipment at the cost of Rs. 140,000. This
equipment is estimated to have 5 year useful life. At the end of the 5
th
year, the salvage value
(residual value) will be Rs. 20,000. Company A recognizes depreciation to the nearest whole
month. Calculate the depreciation expenses for 2011, 2012 and 2013 using straight line
depreciation method.
OR
6 Discuss any four methods of valuing the inventory.
7 The following is the Balance sheet of a company as on 31
st
March:
Liabilities Rs Assets Rs
Share capital 2,00,000 Land and building 1,40,000
Profit and loss account 30,000 Plant and machinery 3,50,000
General reserve 40,000 stock 2,00,000
12% debentures 4,20,000 Sundry debtors 1,00,000
Sundry creditors 1,00,000 Bills receivable 10,000
Bills payable 50,000 Cash at bank 40,000
8,40,000 8,40,000
Calculate: (i) Current ratio and quick ratio. (ii) Debt to equity ratio. (iii) Proprietary ratio.
(iv) Capital gearing ratio. (v) Current assets to fixed assets ratio.
OR
8 How ratios are classified? Explain.
Contd. in page 2
Page 1 of 2
Code: 17E00104
9 What are the objectives of fund flow statement? Explain the merits and demerits of fund flow
statement.
OR
10 Differentiate between fund flow and cash flow statement.
SECTION ? B
(Compulsory question, 01 X 10 = 10 Marks)
11 Case Study:
From the following Trial balance of Raj Kumar prepare Trading, profit and loss account for the
year ended 31
st
Mar 2002 and balance sheet as on that date:
Trial Balance of Raj Kumar for the year ending 31
st
March 2002.
Particulars Dr(Rs) Cr(Rs)
Capital 60,000
Drawings 10,000
furniture 5,200
Bank overdraft 8,400
Taxes and insurance 4,000
Creditors 27,600
Buildings 40,000
Opening stock 44,000
Debtors 36,000
Rents 2000
Purchases 2,20,000
Sales 3,00,000
Sales returns 4,000
General expenses 8,000
Salaries 18,000
Commission 4,400
Carriage on purchases 3,600
Bad debts 1,600
Discount 3,200
Total 4,02,000 4,02,000
The following adjustments are to be made:
(i) The closing stock was valued at Rs. 40,120, but there has been a loss of stock by fire during
the period to the extent of Rs. 10,000 not covered by insurance.
(ii) Depreciation on buildings Rs. 2,000 and on furniture Rs. 500 is to be provided for.
(iii) A provision for doubtful debts at 5% on debtors is required.
(iv) Unexpired insurance amounted to Rs. 400.
(v) Interest on capital at 5% per annum is to be provided.
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This post was last modified on 03 January 2020