Download JNTUH (Jawaharlal Nehru Technological University Hyderabad) MBA (Master of Business Administration) 1st Semester (First Semester) R17 2018 Jan 741AC Financial Accounting And Analysis Previous Question Paper
Code No: 741AC
JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
MBA I Semester Examinations, January-2018
FINANCIAL ACCOUNTING AND ANALYSIS
Time: 3hours Max.Marks:75
Note: This question paper contains two parts A and B.
Part A is compulsory which carries 25 marks. Answer all questions in Part A.
Part B consists of 5 Units. Answer any one full question from each unit. Each question
carries 10 marks and may have a, b, c as sub questions.
PART - A 5 ? 5 Marks = 25
1. Answer the following:
a) Concept of Disclosure. [5]
b) Diminishing Balance Method [5]
c) FIFO & LIFO [5]
d) Paid costs and Unpaid costs [5]
e) Vertical analysis, Horizontal analysis and Trend Analysis. [5]
PART - B 5 ?10 Marks = 50
2. Explain the benefits and limitations of the Financial Accounting. [10]
OR
3. What are the Basic Accounting Concepts and explain their implication? [10]
4. Journalise the following transactions and prepare the following accounts a) Purchases,
b) Sales, c) Cash, d) Hari, e) Discount
1-Jan-2014 Giridhar commenced business with cash Rs.7500/-
3-Jan-2014 Goods purchase for cash Rs.1,000/-
4-Jan-2014 Bought goods from Hari Rs.250/-
8-Jan-2014 Furniture purchased from murari for cash Rs.50/-
9-Jan-2014 Furniture purchased from murari 250/-
12-Jan-2014 Cash paid to Hari in full settlement of his account Rs.240/-
15-Jan-2014 Goods purchase from Anil and he allowed us Discount
10% Rs.350/-
20-Jan-2014 Paid cash to Anil in full satisfaction Rs. 300/-
21-Jan-2014 Prince Behari bought from us Rs. 115/-
22-Jan-2014 Cash paid by Prince Behari Rs.15/-
25-Jan-2014 Prince Behari became insolvent, a finial composition of
50p in the rupee received from his official receiver out of a
debit of Rs.100/- Rs.50/-
26-Jan-2014 Paid for miscellaneous expenses RS.25/-
28-Jan-2014 Withdrawn by Giridhar for his personal use 100/- [10]
OR
R17
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Code No: 741AC
JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
MBA I Semester Examinations, January-2018
FINANCIAL ACCOUNTING AND ANALYSIS
Time: 3hours Max.Marks:75
Note: This question paper contains two parts A and B.
Part A is compulsory which carries 25 marks. Answer all questions in Part A.
Part B consists of 5 Units. Answer any one full question from each unit. Each question
carries 10 marks and may have a, b, c as sub questions.
PART - A 5 ? 5 Marks = 25
1. Answer the following:
a) Concept of Disclosure. [5]
b) Diminishing Balance Method [5]
c) FIFO & LIFO [5]
d) Paid costs and Unpaid costs [5]
e) Vertical analysis, Horizontal analysis and Trend Analysis. [5]
PART - B 5 ?10 Marks = 50
2. Explain the benefits and limitations of the Financial Accounting. [10]
OR
3. What are the Basic Accounting Concepts and explain their implication? [10]
4. Journalise the following transactions and prepare the following accounts a) Purchases,
b) Sales, c) Cash, d) Hari, e) Discount
1-Jan-2014 Giridhar commenced business with cash Rs.7500/-
3-Jan-2014 Goods purchase for cash Rs.1,000/-
4-Jan-2014 Bought goods from Hari Rs.250/-
8-Jan-2014 Furniture purchased from murari for cash Rs.50/-
9-Jan-2014 Furniture purchased from murari 250/-
12-Jan-2014 Cash paid to Hari in full settlement of his account Rs.240/-
15-Jan-2014 Goods purchase from Anil and he allowed us Discount
10% Rs.350/-
20-Jan-2014 Paid cash to Anil in full satisfaction Rs. 300/-
21-Jan-2014 Prince Behari bought from us Rs. 115/-
22-Jan-2014 Cash paid by Prince Behari Rs.15/-
25-Jan-2014 Prince Behari became insolvent, a finial composition of
50p in the rupee received from his official receiver out of a
debit of Rs.100/- Rs.50/-
26-Jan-2014 Paid for miscellaneous expenses RS.25/-
28-Jan-2014 Withdrawn by Giridhar for his personal use 100/- [10]
OR
R17
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5. A firm purchase a leasehold property for a period of five years for Rs. 10,000 on
1.1.1995. it decides to write off the lease by Annuity Method presuming the rate of
interest at 5% p.a. The annuity table shows that the annual amount necessary to write off
Re 1 at 5% p.a. 0.230976. You are required to prepare the lease hold property account for
five years and shows the net amount to be charged to the Profit & Loss account for these
five years. [10]
6. The financial year of Mr. X ends on 31
st
March 1995 but the stock on hand was
physically verified only on 7
th
April 1995. You are required to ascertain the value of
closing stock as on 31
st
March 1995 from the following information
a) The stock as verified on 7
th
April 1995 was Rs. 1,54,000
b) Sales have been entered in the Sales Day Book only after the dispatch of goods and
sales returns only on receipt of the goods
c) Purchases have been entered in the Purchases Day Book on receipt of the purchase
invoice irrespective of the date of receipt of the goods
d) Sales as per Sales Day Book for the period 1
st
April 1995 to 7
th
April 1995 (before the
actual verification) amounted to Rs. 68,800 of which goods of sale value Rs. 12,000
had not been delivered at the time of verification
e) Purchases as per Purchase Day Book for the period 1
st
April 1995 to 7
th
April
1995(before the actual verification) amounted to Rs. 58,000 of which goods for
purchases of Rs. 15,000 had not been received at the date of verification and goods
for purchases of Rs. 20,000 had been received prior to 31
st
March 1995
f) In respect of goods costing Rs/ 50,000 received prior to 31
st
March 1995, invoices
had not been received until the date of verification of stocks
g) The gross profit is 25% on sales [10]
OR
7. Explain the Single Entry System. State its disadvantages and explain how the profit can
be determined under this system. [10]
8. From the following Balance Sheet of Rhino Retreading Ltd. Hosur make out
(a) Statement of Changes in working Capital, and (b) Funds flow statement. [10]
Balance Sheet of Rhino Retreading Ltd., Hosur as at 31
st
March
Liabilities 1983 Rs. 1984 Rs. Assets 1983 Rs. 1984 Rs.
Share Capital
12%
Redeemable
3, 00, 000 4,00, 000 Goodwill 1, 00, 000 1, 70, 000
Debentures 1,50, 000 1,00,000 Buildings 2,00, 000 1, 70, 000
Capital Reserve ------ 20, 000 Plant 80,000 2, 00, 000
General Reserve 40, 000 50,000 Investment 20,000 30,000
P&L A/c 30, 000 48,000 Debtors 1, 40, 000 1, 70, 000
Proposed
Dividend
42, 000 50, 000 Stock 77, 000 1, 09, 000
Sundry Creditors 45, 000 63, 000 Bills
Receivable
20, 000 30, 000
Liability for
Expenses
30, 000 36, 000 Cash at
Bank
25, 000 18, 000
Provision for
Taxation
40, 000 50, 000 Preliminary
Expenses
15, 000 10, 000
6, 77, 000 8, 17, 000 6, 77, 000 8, 17, 000
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Code No: 741AC
JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
MBA I Semester Examinations, January-2018
FINANCIAL ACCOUNTING AND ANALYSIS
Time: 3hours Max.Marks:75
Note: This question paper contains two parts A and B.
Part A is compulsory which carries 25 marks. Answer all questions in Part A.
Part B consists of 5 Units. Answer any one full question from each unit. Each question
carries 10 marks and may have a, b, c as sub questions.
PART - A 5 ? 5 Marks = 25
1. Answer the following:
a) Concept of Disclosure. [5]
b) Diminishing Balance Method [5]
c) FIFO & LIFO [5]
d) Paid costs and Unpaid costs [5]
e) Vertical analysis, Horizontal analysis and Trend Analysis. [5]
PART - B 5 ?10 Marks = 50
2. Explain the benefits and limitations of the Financial Accounting. [10]
OR
3. What are the Basic Accounting Concepts and explain their implication? [10]
4. Journalise the following transactions and prepare the following accounts a) Purchases,
b) Sales, c) Cash, d) Hari, e) Discount
1-Jan-2014 Giridhar commenced business with cash Rs.7500/-
3-Jan-2014 Goods purchase for cash Rs.1,000/-
4-Jan-2014 Bought goods from Hari Rs.250/-
8-Jan-2014 Furniture purchased from murari for cash Rs.50/-
9-Jan-2014 Furniture purchased from murari 250/-
12-Jan-2014 Cash paid to Hari in full settlement of his account Rs.240/-
15-Jan-2014 Goods purchase from Anil and he allowed us Discount
10% Rs.350/-
20-Jan-2014 Paid cash to Anil in full satisfaction Rs. 300/-
21-Jan-2014 Prince Behari bought from us Rs. 115/-
22-Jan-2014 Cash paid by Prince Behari Rs.15/-
25-Jan-2014 Prince Behari became insolvent, a finial composition of
50p in the rupee received from his official receiver out of a
debit of Rs.100/- Rs.50/-
26-Jan-2014 Paid for miscellaneous expenses RS.25/-
28-Jan-2014 Withdrawn by Giridhar for his personal use 100/- [10]
OR
R17
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5. A firm purchase a leasehold property for a period of five years for Rs. 10,000 on
1.1.1995. it decides to write off the lease by Annuity Method presuming the rate of
interest at 5% p.a. The annuity table shows that the annual amount necessary to write off
Re 1 at 5% p.a. 0.230976. You are required to prepare the lease hold property account for
five years and shows the net amount to be charged to the Profit & Loss account for these
five years. [10]
6. The financial year of Mr. X ends on 31
st
March 1995 but the stock on hand was
physically verified only on 7
th
April 1995. You are required to ascertain the value of
closing stock as on 31
st
March 1995 from the following information
a) The stock as verified on 7
th
April 1995 was Rs. 1,54,000
b) Sales have been entered in the Sales Day Book only after the dispatch of goods and
sales returns only on receipt of the goods
c) Purchases have been entered in the Purchases Day Book on receipt of the purchase
invoice irrespective of the date of receipt of the goods
d) Sales as per Sales Day Book for the period 1
st
April 1995 to 7
th
April 1995 (before the
actual verification) amounted to Rs. 68,800 of which goods of sale value Rs. 12,000
had not been delivered at the time of verification
e) Purchases as per Purchase Day Book for the period 1
st
April 1995 to 7
th
April
1995(before the actual verification) amounted to Rs. 58,000 of which goods for
purchases of Rs. 15,000 had not been received at the date of verification and goods
for purchases of Rs. 20,000 had been received prior to 31
st
March 1995
f) In respect of goods costing Rs/ 50,000 received prior to 31
st
March 1995, invoices
had not been received until the date of verification of stocks
g) The gross profit is 25% on sales [10]
OR
7. Explain the Single Entry System. State its disadvantages and explain how the profit can
be determined under this system. [10]
8. From the following Balance Sheet of Rhino Retreading Ltd. Hosur make out
(a) Statement of Changes in working Capital, and (b) Funds flow statement. [10]
Balance Sheet of Rhino Retreading Ltd., Hosur as at 31
st
March
Liabilities 1983 Rs. 1984 Rs. Assets 1983 Rs. 1984 Rs.
Share Capital
12%
Redeemable
3, 00, 000 4,00, 000 Goodwill 1, 00, 000 1, 70, 000
Debentures 1,50, 000 1,00,000 Buildings 2,00, 000 1, 70, 000
Capital Reserve ------ 20, 000 Plant 80,000 2, 00, 000
General Reserve 40, 000 50,000 Investment 20,000 30,000
P&L A/c 30, 000 48,000 Debtors 1, 40, 000 1, 70, 000
Proposed
Dividend
42, 000 50, 000 Stock 77, 000 1, 09, 000
Sundry Creditors 45, 000 63, 000 Bills
Receivable
20, 000 30, 000
Liability for
Expenses
30, 000 36, 000 Cash at
Bank
25, 000 18, 000
Provision for
Taxation
40, 000 50, 000 Preliminary
Expenses
15, 000 10, 000
6, 77, 000 8, 17, 000 6, 77, 000 8, 17, 000
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Additional Information:
1. A piece of Land has been sold out in 1984 and the Profit on sale has been credited to
capital reserve.
2. A machine has been sold for Rs. 10, 000. The written down value of the machine
was Rs. 12, 000. Depreciation of Rs. 10,000 is charged on plant for the year ended
31
st
March, 1984.
3. The investments are trade investments Rs. 30, 000 by way of dividend is received
including Rs. 1, 000 form pre-acquisition Profit which has been credited to
investment account.
4. An interim dividend of Rs. 20, 000 has been paid in November, 1983
OR
9.a) Balance Sheets of M/s Sanjay Enterprises on 1.1.1992 and 31.12.1992 were as follows:
Liabilities 1.1.92
Rs.
31.12.92
Rs.
Assets 1.1.92
RS.
31.12.92
Rs.
Creditors
Loan from Ram
Loan from Bank
Capital
40,000
25,000
40,000
1,25,000
44,000
-----
50,000
1,53,000
Cash
Debtors
Stock
Machinery less
Prov. For
Depreciation
Land
Building
10,000
30,000
35,000
80,000
40,000
35,000
7,000
50,000
25,000
55,000
50,000
60,000
2,30,000 2,47,000 2,30,000 2,47,000
During the year a machine costing Rs. 10,000 (accumulated depreciation Rs. 3,000) was
sold for Rs. 5,000. The provision for depreciation against the machinery as on 1.1.1992
was Rs. 25,000 and on 31.12.1992 was Rs. 40,000. You are required to prepare cash
flow statement.
b) Explain the differences between cash profits and book profits. [5+5]
10. With the following ratios and further information given below, prepare a Trading
Account, Profit and Loss Account and a Balance Sheet of Shri Narain
a) Gross Profit Ratio 25% b) Net Profit Ratio 20%
c) Stock Turnover Ratio 10 d) Net Profit/Capital 1/5
e) Capital to Total Liabilities f) Fixed Assets/Capital 5/4
g) Fixed Assets/ Total Current Assets 5/7
h) Fixed Assets Rs. 10,00,000 i) Closing Stock Rs. 1,00,000 [10]
OR
11. Explain Accounting Standard 6 (Revised) related to Depreciation Accounting. [10]
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This post was last modified on 23 October 2020