Download JNTUA (JNTU Anantapur) MBA (Master of Business Administration) 1st Sem Supple 2015 Dec 14E00104 Financial Accounting for Managers Previous Question Paper
MBA I Semester Regular & Supplementary Examinations December/January 2015/2016
FINANCIAL ACCOUNTING FOR MANAGERS
(For students admitted in 2014 & 2015 only)
Time: 3 hours Max. Marks: 60
All questions carry equal marks
*****
SECTION ? A
Answer the following: (05 X 10 = 50 Marks)
1 What is accounting? Explain its objectives and principles.
OR
2 Explain the importance of accounting in managerial decisions.
3 What is trial balance? State the errors which cannot be disclosed by it.
OR
4 From the following trial balance of Warangal granite, prepare the final accounts for the year ended
31
st
Dec, 2014.
Particulars Rs. Particulars Rs.
Purchases 60,000 Capital 60,000
Sales returns 3,000 Creditors 10,000
Buildings 46,000 Reserve for bad debts 2,000
Furniture 7,000
Debtors 30,000 Sales 80,000
Cash 4,200 Commission 3,000
Carriage on purchases 800 Purchase returns 500
Trade expenses 6,000 Bank overdraft 24,000
Bank charges 1,000 Outstanding expenses 500
Salaries 11,000
Telephone expenses 500 Outstanding salaries 500
Drawings 1,000
Opening stock 9,000
Insurance premium 500
Bad debts 500
Total 1,80,500 Total 1,80,500
Adjustments:
(a) Closing stock balance as on 31-12- 2014 was Rs.20,000/-.
(b) Depreciate furniture @10%, buildings @20% per annum.
(c) Provide an amount of Rs.2,000/- for bad debts on the remaining balance of debtors provide 5% for bad and
doubtful reserves.
(d) Commission received in advance Rs.500/-.
(e) A provision of discount 10% has to be made on creditors.
5 What is depreciation? Explain any two methods of depreciation.
OR
6 What are the advantages and disadvantages of FIFO and LIFO methods of pricing the material issues?
7 Mention some of the differences between cash flow statements and funds flow statements.
OR
8 What do you understand by the working capital concept of the term ?funds?? How is ?funds flow? statement
drawn under this concept?
Contd. in page 2
Page 1 of 2
FirstRanker.com - FirstRanker's Choice
Code: 14E00104
MBA I Semester Regular & Supplementary Examinations December/January 2015/2016
FINANCIAL ACCOUNTING FOR MANAGERS
(For students admitted in 2014 & 2015 only)
Time: 3 hours Max. Marks: 60
All questions carry equal marks
*****
SECTION ? A
Answer the following: (05 X 10 = 50 Marks)
1 What is accounting? Explain its objectives and principles.
OR
2 Explain the importance of accounting in managerial decisions.
3 What is trial balance? State the errors which cannot be disclosed by it.
OR
4 From the following trial balance of Warangal granite, prepare the final accounts for the year ended
31
st
Dec, 2014.
Particulars Rs. Particulars Rs.
Purchases 60,000 Capital 60,000
Sales returns 3,000 Creditors 10,000
Buildings 46,000 Reserve for bad debts 2,000
Furniture 7,000
Debtors 30,000 Sales 80,000
Cash 4,200 Commission 3,000
Carriage on purchases 800 Purchase returns 500
Trade expenses 6,000 Bank overdraft 24,000
Bank charges 1,000 Outstanding expenses 500
Salaries 11,000
Telephone expenses 500 Outstanding salaries 500
Drawings 1,000
Opening stock 9,000
Insurance premium 500
Bad debts 500
Total 1,80,500 Total 1,80,500
Adjustments:
(a) Closing stock balance as on 31-12- 2014 was Rs.20,000/-.
(b) Depreciate furniture @10%, buildings @20% per annum.
(c) Provide an amount of Rs.2,000/- for bad debts on the remaining balance of debtors provide 5% for bad and
doubtful reserves.
(d) Commission received in advance Rs.500/-.
(e) A provision of discount 10% has to be made on creditors.
5 What is depreciation? Explain any two methods of depreciation.
OR
6 What are the advantages and disadvantages of FIFO and LIFO methods of pricing the material issues?
7 Mention some of the differences between cash flow statements and funds flow statements.
OR
8 What do you understand by the working capital concept of the term ?funds?? How is ?funds flow? statement
drawn under this concept?
Contd. in page 2
Page 1 of 2
Code: 14E00104
9 How do you analyse and interpret financial statements of a company for reporting on the soundness of its
capital structure and solvency?
OR
10 On 31
st
March, 2015 your bank pass book showed a balance of Rs.12,000/- to your credit. Before that data
you issued a cheque of Rs.1,600/- to your customers but they have not presented them for payment. You
had also received a cheque for Rs.320 which although entered by you in the bank column of the cash book
was omitted to be paid into bank. On 31
st
March, a cheque for Rs.500/- received by you was paid into the
bank but the same was omitted to be entered into the cash book. There was a credit of Rs.170/- for interest
on current account and a debit of Rs.20/- for bank reconciliation. Draw up a reconciliation statement
showing adjustment between your cash book and passbook.
SECTION ? B
(Compulsory Question) 01 X 10 = 10 Marks
11 Case study:
The particulars of incomes and expenses of a company are given here under, for the year ended
31/03/2015.
Particulars Rs. Particulars Rs.
Opening stock 76,250 Sales 5,00,000
Purchases 3,15,250 Closing stock 98,50,
Manufacturing expenses 7,000 Income from investment 6,000
Administration expenses 1,00,000
Selling & distribution expenses 12,000
Loss by fire 13,000
From the following information you are required to calculate:
(a) Operating profit.
(b) Operating profit ratio.
(c) Stock turnover ratio.
(d) Grass profit ratio.
(e) Net profit ratio.
*****
Page 2 of 2
FirstRanker.com - FirstRanker's Choice
This post was last modified on 27 July 2020