Download GTU (Gujarat Technological University) MBA (Master of Business Administration) 2018 Winter 1st Sem 2810001 Accounting For Managers Previous Question Paper
Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER -01? EXAMINATION ? WINTER 2018
Subject Code:2810001 Date:24/12/2018
Subject Name: Accounting for Managers
Time: 10.30AM to 1.30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q-1 (A) From the four alternative answers given against each of the following cases, indicate the
correct answer :(just state A, B, C or D) (06)
1.
Patent is shown under
a) Fixed Assets b) Current Liabilities
c) Current Assets d) None of the above
2
Purchase book is an example of
a) Subsidiary book b) Journal
c) Ledger d) None of the these
3
FIFO Means
a) First in first out b) Fifth in first out
c) First in fifth out d) None of the above
4
Which of this is not a fixed assets
a) Land and building b) Cash
c) Furniture d) Machinery
5
Which of the following is an intangible assets
a) Goodwill b) Patent
c) Patent d) All of the above
6
Profit and loss statement is prepared for the purpose of
a) To know net profit
or loss of the
business
b) To know net financial position of the
business
c) To know gross
profit or loss of the
business
d) None of the above
Q-1 (B) Explain the following terms (04)
1) Business Entity Concept
2) Current ratio
3) Money Measurement concept
4) Define Accounting
Q-1 (C) What do you understand by Trend Analysis? Explain in brief with hypothetical example. (04)
Q-2(A) Define Accounting. Explain the different branches of accounting (07)
Q-2 (B) Write Journal entry for the following transaction in the books of Pradeep . (07)
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Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER -01? EXAMINATION ? WINTER 2018
Subject Code:2810001 Date:24/12/2018
Subject Name: Accounting for Managers
Time: 10.30AM to 1.30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q-1 (A) From the four alternative answers given against each of the following cases, indicate the
correct answer :(just state A, B, C or D) (06)
1.
Patent is shown under
a) Fixed Assets b) Current Liabilities
c) Current Assets d) None of the above
2
Purchase book is an example of
a) Subsidiary book b) Journal
c) Ledger d) None of the these
3
FIFO Means
a) First in first out b) Fifth in first out
c) First in fifth out d) None of the above
4
Which of this is not a fixed assets
a) Land and building b) Cash
c) Furniture d) Machinery
5
Which of the following is an intangible assets
a) Goodwill b) Patent
c) Patent d) All of the above
6
Profit and loss statement is prepared for the purpose of
a) To know net profit
or loss of the
business
b) To know net financial position of the
business
c) To know gross
profit or loss of the
business
d) None of the above
Q-1 (B) Explain the following terms (04)
1) Business Entity Concept
2) Current ratio
3) Money Measurement concept
4) Define Accounting
Q-1 (C) What do you understand by Trend Analysis? Explain in brief with hypothetical example. (04)
Q-2(A) Define Accounting. Explain the different branches of accounting (07)
Q-2 (B) Write Journal entry for the following transaction in the books of Pradeep . (07)
2
1 April 2015. Pradeep started business with cash Rs.200000
3 April 2015.Paid in to bank Rs.70000
5 April 2015. Cash Sales Rs.30000
7 April 2015 Cash Purchases Rs.20000
12 April 2015. Paid Salaries Rs.15000
15 April 2015 Paid rent Rs.5000
25 April 2015 Commission received Rs.20000
OR.
Q-2 (B) Explain the users of Accounting information (07)
Q-3 (A) Explain the Accounting standard (AS-10) Fixed assets (07)
Q-3(B) Rati udhyog ltd has established a new project details of fixed assets and expenditure incurred
during the construction of the projects are given below .determine the cost of each asset at the end of
the completion of the project. (07)
Details Amount (in
Rs.)
Land
1,25,00,000
Building 2,50,00,000
Plant and machinery 20,75,00,000
Misc.Fixed assets 50,00,000
Pre-operative administration expenses on start
up ,commissioning ,test runs
1,50,00,000
Interest on term long loans during the
construction period
1,80,00,000
Total 28,30,00,000
OR.
Q-3 (A) Explain the important tools of financial statement analysis. (07)
Q-3 (B) Prepare Stores ledger from the following transaction adopting the FIFO Methods of Pricing
out issues .(07)
1
st
March 2015. Opening stock 200 units at Rs.2.00 per unit.
2
nd
March 2015 Purchased 600 units at Rs.3.00 per unit.
6
th
March 2015 issued 600 units.
12
th
March 201555. Purchased 400 unit at Rs.3.40 per units.
22
nd
March 2015. Issued 300 units.
26
th
March 2015. Purchased 500 units at Rs.3.50 per units.
30
th
March 2015. Issued 200 units.
Q-4 (A) What is Meaning of Depreciation Accounting and Causes of Depreciation. (07)
Q-4 (B) Following is the Balance sheet of Global Exports as on 31-03-2001 and 31-03-2012.
You are required to prepare the comparative Statement and Comment of the financial position of the
Concern. (07)
Liabilities 31.3.2011 31.3.2012 Assets 31.3.2011 31.3.2012
Share Capital 1200000 1000000 Building 300000 2550000
Reserve and Surplus 20000 25000 Machnery 490000 325000
Secured loan 45000 30000 Stock 300000 375000
Unsecured loan 200000 250000 Debtors 250000 300000
Current liabilities 125000 150000 Cash 250000 200000
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Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER -01? EXAMINATION ? WINTER 2018
Subject Code:2810001 Date:24/12/2018
Subject Name: Accounting for Managers
Time: 10.30AM to 1.30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q-1 (A) From the four alternative answers given against each of the following cases, indicate the
correct answer :(just state A, B, C or D) (06)
1.
Patent is shown under
a) Fixed Assets b) Current Liabilities
c) Current Assets d) None of the above
2
Purchase book is an example of
a) Subsidiary book b) Journal
c) Ledger d) None of the these
3
FIFO Means
a) First in first out b) Fifth in first out
c) First in fifth out d) None of the above
4
Which of this is not a fixed assets
a) Land and building b) Cash
c) Furniture d) Machinery
5
Which of the following is an intangible assets
a) Goodwill b) Patent
c) Patent d) All of the above
6
Profit and loss statement is prepared for the purpose of
a) To know net profit
or loss of the
business
b) To know net financial position of the
business
c) To know gross
profit or loss of the
business
d) None of the above
Q-1 (B) Explain the following terms (04)
1) Business Entity Concept
2) Current ratio
3) Money Measurement concept
4) Define Accounting
Q-1 (C) What do you understand by Trend Analysis? Explain in brief with hypothetical example. (04)
Q-2(A) Define Accounting. Explain the different branches of accounting (07)
Q-2 (B) Write Journal entry for the following transaction in the books of Pradeep . (07)
2
1 April 2015. Pradeep started business with cash Rs.200000
3 April 2015.Paid in to bank Rs.70000
5 April 2015. Cash Sales Rs.30000
7 April 2015 Cash Purchases Rs.20000
12 April 2015. Paid Salaries Rs.15000
15 April 2015 Paid rent Rs.5000
25 April 2015 Commission received Rs.20000
OR.
Q-2 (B) Explain the users of Accounting information (07)
Q-3 (A) Explain the Accounting standard (AS-10) Fixed assets (07)
Q-3(B) Rati udhyog ltd has established a new project details of fixed assets and expenditure incurred
during the construction of the projects are given below .determine the cost of each asset at the end of
the completion of the project. (07)
Details Amount (in
Rs.)
Land
1,25,00,000
Building 2,50,00,000
Plant and machinery 20,75,00,000
Misc.Fixed assets 50,00,000
Pre-operative administration expenses on start
up ,commissioning ,test runs
1,50,00,000
Interest on term long loans during the
construction period
1,80,00,000
Total 28,30,00,000
OR.
Q-3 (A) Explain the important tools of financial statement analysis. (07)
Q-3 (B) Prepare Stores ledger from the following transaction adopting the FIFO Methods of Pricing
out issues .(07)
1
st
March 2015. Opening stock 200 units at Rs.2.00 per unit.
2
nd
March 2015 Purchased 600 units at Rs.3.00 per unit.
6
th
March 2015 issued 600 units.
12
th
March 201555. Purchased 400 unit at Rs.3.40 per units.
22
nd
March 2015. Issued 300 units.
26
th
March 2015. Purchased 500 units at Rs.3.50 per units.
30
th
March 2015. Issued 200 units.
Q-4 (A) What is Meaning of Depreciation Accounting and Causes of Depreciation. (07)
Q-4 (B) Following is the Balance sheet of Global Exports as on 31-03-2001 and 31-03-2012.
You are required to prepare the comparative Statement and Comment of the financial position of the
Concern. (07)
Liabilities 31.3.2011 31.3.2012 Assets 31.3.2011 31.3.2012
Share Capital 1200000 1000000 Building 300000 2550000
Reserve and Surplus 20000 25000 Machnery 490000 325000
Secured loan 45000 30000 Stock 300000 375000
Unsecured loan 200000 250000 Debtors 250000 300000
Current liabilities 125000 150000 Cash 250000 200000
3
OR.
Q-4(A) The ABC ltd purchased a machine costing Rs.90000 from MM ltd.The cost incurred (07)
for bringing the ,machine to the point of use amounted to Rs.15000.
The estimated life of the machine is 8 years .
The scrape value at the end of the life is estimated to be Rs.5000
Calculate the rate of depreciation for the following methods.
1) Straight line method.
2) Written down value method.
3) Sum of years digit method for the first two years.
4) The unit of production method assuming the first two years production as 30000 and 25000
units respectively 1,50,000 units during the whole life.
Q-4 (B) what do you mean by ?Fund Flow Statement?? Discuss the importance of Fund Flow
Statement. (07)
Q-5 You are given the following figures about the delta ltd for the accounting year ended on 31
st
December 2008 (14)
Current ratio:2.5 , Liquid ratio : 1.5, Net working capital : Rs.300,000
Stock turnover ratio: 6 times (Cost goods sold to average stock)
Gross profit : 20% , Average collection period : 2 Months
Net Fixed turnover ratio : 1.5 times
Debt-equity ratio = 7:6
Equity capital to reserve = 0.5
You are required to find out following information
1) Current Assets 2) Current Liabilities 3) Average Closing stock 4) Cost of Goods sold
5) Gross profit 6) Sales 7) Net fixed assets 8 ) Average debtors 9) Cash & Bank balance
10) Long term debt 11) Equity capital 12) Reserve
OR.
Q-5 From the following Trial balances of Mr.Nagaraj Prepare the Final Account for the Year Ended
31
st
March 2010 and the balance sheet as the that date. (14)
Particular Debit Credit
Land and Building 50000 -
Purchases 110000 -
Stock 40000 -
Returns 1500 500
Wages 10000 -
Salaries 9000 -
Office expenses 2400 -
Carriage inward 1200 -
Carriage outward 2000 -
Discount 750 1200
Bad debts 1200 -
Sales - 205000
Capital account - 130000
Insurance 1500 -
Commission - 1500
Plant and Machinery 50000 -
Furniture 10000 -
Bills receivable 20000 -
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Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER -01? EXAMINATION ? WINTER 2018
Subject Code:2810001 Date:24/12/2018
Subject Name: Accounting for Managers
Time: 10.30AM to 1.30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q-1 (A) From the four alternative answers given against each of the following cases, indicate the
correct answer :(just state A, B, C or D) (06)
1.
Patent is shown under
a) Fixed Assets b) Current Liabilities
c) Current Assets d) None of the above
2
Purchase book is an example of
a) Subsidiary book b) Journal
c) Ledger d) None of the these
3
FIFO Means
a) First in first out b) Fifth in first out
c) First in fifth out d) None of the above
4
Which of this is not a fixed assets
a) Land and building b) Cash
c) Furniture d) Machinery
5
Which of the following is an intangible assets
a) Goodwill b) Patent
c) Patent d) All of the above
6
Profit and loss statement is prepared for the purpose of
a) To know net profit
or loss of the
business
b) To know net financial position of the
business
c) To know gross
profit or loss of the
business
d) None of the above
Q-1 (B) Explain the following terms (04)
1) Business Entity Concept
2) Current ratio
3) Money Measurement concept
4) Define Accounting
Q-1 (C) What do you understand by Trend Analysis? Explain in brief with hypothetical example. (04)
Q-2(A) Define Accounting. Explain the different branches of accounting (07)
Q-2 (B) Write Journal entry for the following transaction in the books of Pradeep . (07)
2
1 April 2015. Pradeep started business with cash Rs.200000
3 April 2015.Paid in to bank Rs.70000
5 April 2015. Cash Sales Rs.30000
7 April 2015 Cash Purchases Rs.20000
12 April 2015. Paid Salaries Rs.15000
15 April 2015 Paid rent Rs.5000
25 April 2015 Commission received Rs.20000
OR.
Q-2 (B) Explain the users of Accounting information (07)
Q-3 (A) Explain the Accounting standard (AS-10) Fixed assets (07)
Q-3(B) Rati udhyog ltd has established a new project details of fixed assets and expenditure incurred
during the construction of the projects are given below .determine the cost of each asset at the end of
the completion of the project. (07)
Details Amount (in
Rs.)
Land
1,25,00,000
Building 2,50,00,000
Plant and machinery 20,75,00,000
Misc.Fixed assets 50,00,000
Pre-operative administration expenses on start
up ,commissioning ,test runs
1,50,00,000
Interest on term long loans during the
construction period
1,80,00,000
Total 28,30,00,000
OR.
Q-3 (A) Explain the important tools of financial statement analysis. (07)
Q-3 (B) Prepare Stores ledger from the following transaction adopting the FIFO Methods of Pricing
out issues .(07)
1
st
March 2015. Opening stock 200 units at Rs.2.00 per unit.
2
nd
March 2015 Purchased 600 units at Rs.3.00 per unit.
6
th
March 2015 issued 600 units.
12
th
March 201555. Purchased 400 unit at Rs.3.40 per units.
22
nd
March 2015. Issued 300 units.
26
th
March 2015. Purchased 500 units at Rs.3.50 per units.
30
th
March 2015. Issued 200 units.
Q-4 (A) What is Meaning of Depreciation Accounting and Causes of Depreciation. (07)
Q-4 (B) Following is the Balance sheet of Global Exports as on 31-03-2001 and 31-03-2012.
You are required to prepare the comparative Statement and Comment of the financial position of the
Concern. (07)
Liabilities 31.3.2011 31.3.2012 Assets 31.3.2011 31.3.2012
Share Capital 1200000 1000000 Building 300000 2550000
Reserve and Surplus 20000 25000 Machnery 490000 325000
Secured loan 45000 30000 Stock 300000 375000
Unsecured loan 200000 250000 Debtors 250000 300000
Current liabilities 125000 150000 Cash 250000 200000
3
OR.
Q-4(A) The ABC ltd purchased a machine costing Rs.90000 from MM ltd.The cost incurred (07)
for bringing the ,machine to the point of use amounted to Rs.15000.
The estimated life of the machine is 8 years .
The scrape value at the end of the life is estimated to be Rs.5000
Calculate the rate of depreciation for the following methods.
1) Straight line method.
2) Written down value method.
3) Sum of years digit method for the first two years.
4) The unit of production method assuming the first two years production as 30000 and 25000
units respectively 1,50,000 units during the whole life.
Q-4 (B) what do you mean by ?Fund Flow Statement?? Discuss the importance of Fund Flow
Statement. (07)
Q-5 You are given the following figures about the delta ltd for the accounting year ended on 31
st
December 2008 (14)
Current ratio:2.5 , Liquid ratio : 1.5, Net working capital : Rs.300,000
Stock turnover ratio: 6 times (Cost goods sold to average stock)
Gross profit : 20% , Average collection period : 2 Months
Net Fixed turnover ratio : 1.5 times
Debt-equity ratio = 7:6
Equity capital to reserve = 0.5
You are required to find out following information
1) Current Assets 2) Current Liabilities 3) Average Closing stock 4) Cost of Goods sold
5) Gross profit 6) Sales 7) Net fixed assets 8 ) Average debtors 9) Cash & Bank balance
10) Long term debt 11) Equity capital 12) Reserve
OR.
Q-5 From the following Trial balances of Mr.Nagaraj Prepare the Final Account for the Year Ended
31
st
March 2010 and the balance sheet as the that date. (14)
Particular Debit Credit
Land and Building 50000 -
Purchases 110000 -
Stock 40000 -
Returns 1500 500
Wages 10000 -
Salaries 9000 -
Office expenses 2400 -
Carriage inward 1200 -
Carriage outward 2000 -
Discount 750 1200
Bad debts 1200 -
Sales - 205000
Capital account - 130000
Insurance 1500 -
Commission - 1500
Plant and Machinery 50000 -
Furniture 10000 -
Bills receivable 20000 -
4
Sundry debtors 40000 -
Sundry creditors - 25000
Cash 1500
Bank balance 4500
Office equipment 12000 -
Bills payable - 2350
Total 367550 367550
The following adjustments are required.
1) Closing stock amounted to Rs.60000
2) Outstanding liabilities Wages Rs.2000 and Rent Rs.3000
3) Depreciate Land and building at 5 %, Plant and Machinery at 10 % ,office equipment and
furniture and fixtures at 10 %
4) Insurance premium prepaid Rs.200
5) Provide interest on Capital at 5%
6) Raise bad and doubtful debts reserve at 5 % on Sundry Debtors.
************************
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This post was last modified on 19 February 2020