Download JNTUH (JNTU Hyderabad) MBA First Year (1st Semester) 2018 May Financial Accounting and Analysis Question Paper.
HallTicketNo QuestionPaperCode:CMB002
J a w a h a r l a l N e hr u T e c h n ol o g i c a l U n i v e r s i t y H yd e r a b a d
.
MBAISemesterEndExaminations(Supplementary)-May/June,2018
Regulation: .?R16
FinancialAccountingandAnalysis
Time: 3Hours (MBA) MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) De?neAccounting.Explainimportanceandlimitationsof?nancialaccounting. [7M]
(b) Explainaccountingconceptsandconventions.Namethemandexplainany?veaccountingcon-
ceptsindetail. [7M]
2. (a) De?nedoubleentrysystem.Explainitsadvantageanddisadvantages. [7M]
(b) Explaintheclassi?cationofaccounts. [7M]
UNIT?II
3. (a) Recordthefollowingtransactionsinthejournalandpostthemintoledgerandprepareatrail
balance [7M]
Table1
2010,Oct1st, Neelstartedbusinesswithacapitalof80,000
3rd BoughtgoodsfromKarloncredit20,000
4th SoldgoodstoTarl25,000
5th Cashpurchases25,000
7th Cashsales15,000
9th GoodsretunedtoKarl2,000
10th Boughtfurniturefor15,000
11th CashpaidtoKarl12,000
12th GoodsreturnedbyTarl3,000
14th GoodstakenbyNeelforpersonaluse3,000
15th CashreceivedfromTarl12,000
16th TookloanfromParl30,000
17th Salarypaid5,000
18th Boughtstationeryfor1,000
19th AmountpaidtoParlonloanaccount18,000
20th Interestreceived4,000
Page1of5
FirstRanker.com - FirstRanker's Choice
HallTicketNo QuestionPaperCode:CMB002
J a w a h a r l a l N e hr u T e c h n ol o g i c a l U n i v e r s i t y H yd e r a b a d
.
MBAISemesterEndExaminations(Supplementary)-May/June,2018
Regulation: .?R16
FinancialAccountingandAnalysis
Time: 3Hours (MBA) MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) De?neAccounting.Explainimportanceandlimitationsof?nancialaccounting. [7M]
(b) Explainaccountingconceptsandconventions.Namethemandexplainany?veaccountingcon-
ceptsindetail. [7M]
2. (a) De?nedoubleentrysystem.Explainitsadvantageanddisadvantages. [7M]
(b) Explaintheclassi?cationofaccounts. [7M]
UNIT?II
3. (a) Recordthefollowingtransactionsinthejournalandpostthemintoledgerandprepareatrail
balance [7M]
Table1
2010,Oct1st, Neelstartedbusinesswithacapitalof80,000
3rd BoughtgoodsfromKarloncredit20,000
4th SoldgoodstoTarl25,000
5th Cashpurchases25,000
7th Cashsales15,000
9th GoodsretunedtoKarl2,000
10th Boughtfurniturefor15,000
11th CashpaidtoKarl12,000
12th GoodsreturnedbyTarl3,000
14th GoodstakenbyNeelforpersonaluse3,000
15th CashreceivedfromTarl12,000
16th TookloanfromParl30,000
17th Salarypaid5,000
18th Boughtstationeryfor1,000
19th AmountpaidtoParlonloanaccount18,000
20th Interestreceived4,000
Page1of5
(b)Fromthefollowingtrialbalancepreparetradingandpro?tandlossaccountfortheyearended
31stDecember,2009andbalancesheetasonthatdate. [7M]
Table2
Particulars Dr.(Rs.) Cr.(Rs.)
Drawings 10,000
OpeningStock 46,000
PurchaseandPurchasereturns 1,50,000 600
Cashinhand 34,000
BankBalance 22,660
FreeholdPremises 38,600
Tradeexpenses 840
Printing,Stationaryandadvertising 1640
Professionalcharges 280
Commissionreceived 3300
Investmentason1stJan.@10% 4000
InterestonDeposits 200
Sundrydebtorsandcreditors 36000 29000
Wages 25000
Salaries 14000
RentRatesandinsurance 4000
Capital 114,700
IncomeTax 1600
Discountallowedandreceived 6300 4600
SalesreturnsandSales 500 2,08,000
BillsReceivablesandBillsPayables 3200 10000
O?ceFurniture 3050
BadDebtsProvision 670
3,71,070 3,71,070
Adjustments:
i.ProvideoutstandingforwagesRs.5000.
ii.Writeo?5%depreciationonfreeholdpremisesand10%ono?cefurniture.
iii.InsurancetotheextentofRs.200belongsto2010.
iv.Closingstockason31.3.2010isRs.52000.
v.Chargeinterestoncapital@5%
Page2of5
FirstRanker.com - FirstRanker's Choice
HallTicketNo QuestionPaperCode:CMB002
J a w a h a r l a l N e hr u T e c h n ol o g i c a l U n i v e r s i t y H yd e r a b a d
.
MBAISemesterEndExaminations(Supplementary)-May/June,2018
Regulation: .?R16
FinancialAccountingandAnalysis
Time: 3Hours (MBA) MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) De?neAccounting.Explainimportanceandlimitationsof?nancialaccounting. [7M]
(b) Explainaccountingconceptsandconventions.Namethemandexplainany?veaccountingcon-
ceptsindetail. [7M]
2. (a) De?nedoubleentrysystem.Explainitsadvantageanddisadvantages. [7M]
(b) Explaintheclassi?cationofaccounts. [7M]
UNIT?II
3. (a) Recordthefollowingtransactionsinthejournalandpostthemintoledgerandprepareatrail
balance [7M]
Table1
2010,Oct1st, Neelstartedbusinesswithacapitalof80,000
3rd BoughtgoodsfromKarloncredit20,000
4th SoldgoodstoTarl25,000
5th Cashpurchases25,000
7th Cashsales15,000
9th GoodsretunedtoKarl2,000
10th Boughtfurniturefor15,000
11th CashpaidtoKarl12,000
12th GoodsreturnedbyTarl3,000
14th GoodstakenbyNeelforpersonaluse3,000
15th CashreceivedfromTarl12,000
16th TookloanfromParl30,000
17th Salarypaid5,000
18th Boughtstationeryfor1,000
19th AmountpaidtoParlonloanaccount18,000
20th Interestreceived4,000
Page1of5
(b)Fromthefollowingtrialbalancepreparetradingandpro?tandlossaccountfortheyearended
31stDecember,2009andbalancesheetasonthatdate. [7M]
Table2
Particulars Dr.(Rs.) Cr.(Rs.)
Drawings 10,000
OpeningStock 46,000
PurchaseandPurchasereturns 1,50,000 600
Cashinhand 34,000
BankBalance 22,660
FreeholdPremises 38,600
Tradeexpenses 840
Printing,Stationaryandadvertising 1640
Professionalcharges 280
Commissionreceived 3300
Investmentason1stJan.@10% 4000
InterestonDeposits 200
Sundrydebtorsandcreditors 36000 29000
Wages 25000
Salaries 14000
RentRatesandinsurance 4000
Capital 114,700
IncomeTax 1600
Discountallowedandreceived 6300 4600
SalesreturnsandSales 500 2,08,000
BillsReceivablesandBillsPayables 3200 10000
O?ceFurniture 3050
BadDebtsProvision 670
3,71,070 3,71,070
Adjustments:
i.ProvideoutstandingforwagesRs.5000.
ii.Writeo?5%depreciationonfreeholdpremisesand10%ono?cefurniture.
iii.InsurancetotheextentofRs.200belongsto2010.
iv.Closingstockason31.3.2010isRs.52000.
v.Chargeinterestoncapital@5%
Page2of5
4. (a)OnSeptember1,2011,companyMpurchasedabuildingatRs.1,200,000.Buildingsaredepreci-
atedusingthestraight-linedepreciationmethod.Usefullifeofthebuildingis40years.Salvage
valueofthebuildingattheendofusefullifeisestimatedasRs.120,000.Whatistheamountof
depreciationexpensefor2011?WhatisthebookvalueofthebuildingatDecember31,2011?
[7M]
(b)Prepareapurchasesreturn(journal)bookfromthefollowingtransactionsforJanuary2014:[7M]
Table3
Date Details Amount(Rs.)
5thJanuary,2014 ReturnedgoodstoM/sKarthikTraders 1,200
10th GoodsreturnedtoSahilPvt.Ltd. 2,500
17th GoodsreturnedtoM/sKohinoorTraders.for listprice 2,000
less10%tradediscount.
28th ReturnoutwardstoM/sHandaTraders 550
UNIT?III
5. (a)BikeLtdpurchased10bikesduringJanuaryandsold6bikes,detailsofwhichareasfollows:
January1purchased5bikes@$50each
January5sold2bikes
January10sold1bike
January15purchased5bikes 70each
January25sold3bikes
Thevalueof4bikesfoundasshortageattheendofJanuaryuseFIFOMethod. [7M]
(b)De?neinventory.Explainvarioustechniquesforvaluationofinventory. [7M]
6. (a)Alimitedcompanyissued25,000ordinarysharesofRs. 25eachpayableRs. 5onapplication,
Rs.10onallotmentandRs.5eachon?rstcallandRs.5on?nalcall,20,000shareswerefully-
subscribedandmoneysdulyreceived. Youarerequiredtogivejournalentries,cashbookand
balancesheetofthecompany. [7M]
(b)Distinguishbetweensharesanddebentures. [7M]
UNIT?IV
7. (a)ThebalancesheetsofNationalCo. ason31stDecember,2003and31stDecember2004areas
follows: [7M]
Additionalinformation:
(1)Rs.50,000depreciationhasbeenchargedonplantandmachineryduring2004.
(2)ApieceofmachinerywassoldforRs. 8,000duringtheyear2004. IthadcostRs. 12,000;
depreciationofRs.7,000hadbeenprovidedonit.
prepareascheduleofchangesinworkingcapitalandastatementshowingthesourcesandappli-
cationoffundsfor2004.
Page3of5
FirstRanker.com - FirstRanker's Choice
HallTicketNo QuestionPaperCode:CMB002
J a w a h a r l a l N e hr u T e c h n ol o g i c a l U n i v e r s i t y H yd e r a b a d
.
MBAISemesterEndExaminations(Supplementary)-May/June,2018
Regulation: .?R16
FinancialAccountingandAnalysis
Time: 3Hours (MBA) MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) De?neAccounting.Explainimportanceandlimitationsof?nancialaccounting. [7M]
(b) Explainaccountingconceptsandconventions.Namethemandexplainany?veaccountingcon-
ceptsindetail. [7M]
2. (a) De?nedoubleentrysystem.Explainitsadvantageanddisadvantages. [7M]
(b) Explaintheclassi?cationofaccounts. [7M]
UNIT?II
3. (a) Recordthefollowingtransactionsinthejournalandpostthemintoledgerandprepareatrail
balance [7M]
Table1
2010,Oct1st, Neelstartedbusinesswithacapitalof80,000
3rd BoughtgoodsfromKarloncredit20,000
4th SoldgoodstoTarl25,000
5th Cashpurchases25,000
7th Cashsales15,000
9th GoodsretunedtoKarl2,000
10th Boughtfurniturefor15,000
11th CashpaidtoKarl12,000
12th GoodsreturnedbyTarl3,000
14th GoodstakenbyNeelforpersonaluse3,000
15th CashreceivedfromTarl12,000
16th TookloanfromParl30,000
17th Salarypaid5,000
18th Boughtstationeryfor1,000
19th AmountpaidtoParlonloanaccount18,000
20th Interestreceived4,000
Page1of5
(b)Fromthefollowingtrialbalancepreparetradingandpro?tandlossaccountfortheyearended
31stDecember,2009andbalancesheetasonthatdate. [7M]
Table2
Particulars Dr.(Rs.) Cr.(Rs.)
Drawings 10,000
OpeningStock 46,000
PurchaseandPurchasereturns 1,50,000 600
Cashinhand 34,000
BankBalance 22,660
FreeholdPremises 38,600
Tradeexpenses 840
Printing,Stationaryandadvertising 1640
Professionalcharges 280
Commissionreceived 3300
Investmentason1stJan.@10% 4000
InterestonDeposits 200
Sundrydebtorsandcreditors 36000 29000
Wages 25000
Salaries 14000
RentRatesandinsurance 4000
Capital 114,700
IncomeTax 1600
Discountallowedandreceived 6300 4600
SalesreturnsandSales 500 2,08,000
BillsReceivablesandBillsPayables 3200 10000
O?ceFurniture 3050
BadDebtsProvision 670
3,71,070 3,71,070
Adjustments:
i.ProvideoutstandingforwagesRs.5000.
ii.Writeo?5%depreciationonfreeholdpremisesand10%ono?cefurniture.
iii.InsurancetotheextentofRs.200belongsto2010.
iv.Closingstockason31.3.2010isRs.52000.
v.Chargeinterestoncapital@5%
Page2of5
4. (a)OnSeptember1,2011,companyMpurchasedabuildingatRs.1,200,000.Buildingsaredepreci-
atedusingthestraight-linedepreciationmethod.Usefullifeofthebuildingis40years.Salvage
valueofthebuildingattheendofusefullifeisestimatedasRs.120,000.Whatistheamountof
depreciationexpensefor2011?WhatisthebookvalueofthebuildingatDecember31,2011?
[7M]
(b)Prepareapurchasesreturn(journal)bookfromthefollowingtransactionsforJanuary2014:[7M]
Table3
Date Details Amount(Rs.)
5thJanuary,2014 ReturnedgoodstoM/sKarthikTraders 1,200
10th GoodsreturnedtoSahilPvt.Ltd. 2,500
17th GoodsreturnedtoM/sKohinoorTraders.for listprice 2,000
less10%tradediscount.
28th ReturnoutwardstoM/sHandaTraders 550
UNIT?III
5. (a)BikeLtdpurchased10bikesduringJanuaryandsold6bikes,detailsofwhichareasfollows:
January1purchased5bikes@$50each
January5sold2bikes
January10sold1bike
January15purchased5bikes 70each
January25sold3bikes
Thevalueof4bikesfoundasshortageattheendofJanuaryuseFIFOMethod. [7M]
(b)De?neinventory.Explainvarioustechniquesforvaluationofinventory. [7M]
6. (a)Alimitedcompanyissued25,000ordinarysharesofRs. 25eachpayableRs. 5onapplication,
Rs.10onallotmentandRs.5eachon?rstcallandRs.5on?nalcall,20,000shareswerefully-
subscribedandmoneysdulyreceived. Youarerequiredtogivejournalentries,cashbookand
balancesheetofthecompany. [7M]
(b)Distinguishbetweensharesanddebentures. [7M]
UNIT?IV
7. (a)ThebalancesheetsofNationalCo. ason31stDecember,2003and31stDecember2004areas
follows: [7M]
Additionalinformation:
(1)Rs.50,000depreciationhasbeenchargedonplantandmachineryduring2004.
(2)ApieceofmachinerywassoldforRs. 8,000duringtheyear2004. IthadcostRs. 12,000;
depreciationofRs.7,000hadbeenprovidedonit.
prepareascheduleofchangesinworkingcapitalandastatementshowingthesourcesandappli-
cationoffundsfor2004.
Page3of5
Table4
Liabilities 2003(Rs.) 2004(Rs.) Assets 2003(Rs.) 2004(Rs.)
ShareCapital 500000 700000 L&B 80000 120000
P&LA/c 100000 160000 P&M 500000 800000
GeneralReserve 50000 70000 Stock 100000 75000
Creditors 153000 190000 Debtors 150000 160000
BillsPayable 40000 50000 Cash 20000 20000
O/SExp. 7000 5000
Total 850000 1175000 850000 1175000
[7M]
(b)Distinguishbetweenfunds?owandcash?owstatement. [7M]
8. (a)FromthefollowingbalancesheetsofExeLtd.make-outcash?owstatement: [7M]
Table5
AdditionalInformation:
(a)DepreciationofRs.10,000andRs.20,000havebeenchargedonplantandland&buildings
in2004.
(b)AninterimdividendofRs.20,000hasbeenpaidin2004.
(c)Rs.35,000Incometaxwaspaidduring2004.
(b)De?nefunds?ow.Explainitsimportance. [7M]
Page4of5
FirstRanker.com - FirstRanker's Choice
HallTicketNo QuestionPaperCode:CMB002
J a w a h a r l a l N e hr u T e c h n ol o g i c a l U n i v e r s i t y H yd e r a b a d
.
MBAISemesterEndExaminations(Supplementary)-May/June,2018
Regulation: .?R16
FinancialAccountingandAnalysis
Time: 3Hours (MBA) MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) De?neAccounting.Explainimportanceandlimitationsof?nancialaccounting. [7M]
(b) Explainaccountingconceptsandconventions.Namethemandexplainany?veaccountingcon-
ceptsindetail. [7M]
2. (a) De?nedoubleentrysystem.Explainitsadvantageanddisadvantages. [7M]
(b) Explaintheclassi?cationofaccounts. [7M]
UNIT?II
3. (a) Recordthefollowingtransactionsinthejournalandpostthemintoledgerandprepareatrail
balance [7M]
Table1
2010,Oct1st, Neelstartedbusinesswithacapitalof80,000
3rd BoughtgoodsfromKarloncredit20,000
4th SoldgoodstoTarl25,000
5th Cashpurchases25,000
7th Cashsales15,000
9th GoodsretunedtoKarl2,000
10th Boughtfurniturefor15,000
11th CashpaidtoKarl12,000
12th GoodsreturnedbyTarl3,000
14th GoodstakenbyNeelforpersonaluse3,000
15th CashreceivedfromTarl12,000
16th TookloanfromParl30,000
17th Salarypaid5,000
18th Boughtstationeryfor1,000
19th AmountpaidtoParlonloanaccount18,000
20th Interestreceived4,000
Page1of5
(b)Fromthefollowingtrialbalancepreparetradingandpro?tandlossaccountfortheyearended
31stDecember,2009andbalancesheetasonthatdate. [7M]
Table2
Particulars Dr.(Rs.) Cr.(Rs.)
Drawings 10,000
OpeningStock 46,000
PurchaseandPurchasereturns 1,50,000 600
Cashinhand 34,000
BankBalance 22,660
FreeholdPremises 38,600
Tradeexpenses 840
Printing,Stationaryandadvertising 1640
Professionalcharges 280
Commissionreceived 3300
Investmentason1stJan.@10% 4000
InterestonDeposits 200
Sundrydebtorsandcreditors 36000 29000
Wages 25000
Salaries 14000
RentRatesandinsurance 4000
Capital 114,700
IncomeTax 1600
Discountallowedandreceived 6300 4600
SalesreturnsandSales 500 2,08,000
BillsReceivablesandBillsPayables 3200 10000
O?ceFurniture 3050
BadDebtsProvision 670
3,71,070 3,71,070
Adjustments:
i.ProvideoutstandingforwagesRs.5000.
ii.Writeo?5%depreciationonfreeholdpremisesand10%ono?cefurniture.
iii.InsurancetotheextentofRs.200belongsto2010.
iv.Closingstockason31.3.2010isRs.52000.
v.Chargeinterestoncapital@5%
Page2of5
4. (a)OnSeptember1,2011,companyMpurchasedabuildingatRs.1,200,000.Buildingsaredepreci-
atedusingthestraight-linedepreciationmethod.Usefullifeofthebuildingis40years.Salvage
valueofthebuildingattheendofusefullifeisestimatedasRs.120,000.Whatistheamountof
depreciationexpensefor2011?WhatisthebookvalueofthebuildingatDecember31,2011?
[7M]
(b)Prepareapurchasesreturn(journal)bookfromthefollowingtransactionsforJanuary2014:[7M]
Table3
Date Details Amount(Rs.)
5thJanuary,2014 ReturnedgoodstoM/sKarthikTraders 1,200
10th GoodsreturnedtoSahilPvt.Ltd. 2,500
17th GoodsreturnedtoM/sKohinoorTraders.for listprice 2,000
less10%tradediscount.
28th ReturnoutwardstoM/sHandaTraders 550
UNIT?III
5. (a)BikeLtdpurchased10bikesduringJanuaryandsold6bikes,detailsofwhichareasfollows:
January1purchased5bikes@$50each
January5sold2bikes
January10sold1bike
January15purchased5bikes 70each
January25sold3bikes
Thevalueof4bikesfoundasshortageattheendofJanuaryuseFIFOMethod. [7M]
(b)De?neinventory.Explainvarioustechniquesforvaluationofinventory. [7M]
6. (a)Alimitedcompanyissued25,000ordinarysharesofRs. 25eachpayableRs. 5onapplication,
Rs.10onallotmentandRs.5eachon?rstcallandRs.5on?nalcall,20,000shareswerefully-
subscribedandmoneysdulyreceived. Youarerequiredtogivejournalentries,cashbookand
balancesheetofthecompany. [7M]
(b)Distinguishbetweensharesanddebentures. [7M]
UNIT?IV
7. (a)ThebalancesheetsofNationalCo. ason31stDecember,2003and31stDecember2004areas
follows: [7M]
Additionalinformation:
(1)Rs.50,000depreciationhasbeenchargedonplantandmachineryduring2004.
(2)ApieceofmachinerywassoldforRs. 8,000duringtheyear2004. IthadcostRs. 12,000;
depreciationofRs.7,000hadbeenprovidedonit.
prepareascheduleofchangesinworkingcapitalandastatementshowingthesourcesandappli-
cationoffundsfor2004.
Page3of5
Table4
Liabilities 2003(Rs.) 2004(Rs.) Assets 2003(Rs.) 2004(Rs.)
ShareCapital 500000 700000 L&B 80000 120000
P&LA/c 100000 160000 P&M 500000 800000
GeneralReserve 50000 70000 Stock 100000 75000
Creditors 153000 190000 Debtors 150000 160000
BillsPayable 40000 50000 Cash 20000 20000
O/SExp. 7000 5000
Total 850000 1175000 850000 1175000
[7M]
(b)Distinguishbetweenfunds?owandcash?owstatement. [7M]
8. (a)FromthefollowingbalancesheetsofExeLtd.make-outcash?owstatement: [7M]
Table5
AdditionalInformation:
(a)DepreciationofRs.10,000andRs.20,000havebeenchargedonplantandland&buildings
in2004.
(b)AninterimdividendofRs.20,000hasbeenpaidin2004.
(c)Rs.35,000Incometaxwaspaidduring2004.
(b)De?nefunds?ow.Explainitsimportance. [7M]
Page4of5
UNIT?V
9. (a)FromthedataCalculate:(i)GrossPro?tRatio(ii)NetPro?tratio(iii)Returnontotalassets
(iv)Inventoryturnover(v)Workingcapitalturnover(vi)NetworthtoDebt
[7M]
Table6
Particulars Amount(Rs.)
Sales 25,20,000
Costofsale 19,20,000
NetPro?t 3,60,000
Inventory 8,00,000
CurrentLiabilities 6,00,000
OtherCurrentAssets 7,60,000
FixedAssets 14,40,000
Networth 15,00,000
Debt 9,00,000
(b)De?neratioanalysis.Explaintheclassi?cationofratioanalysiswithsuitableformulas. [7M]
10. (a)CalculatetheoperatingratiofromthefollowingdatashowninTable6. [7M]
Table7
Items ($inLakhs)
Sales 17874
SalesReturns 4
OtherIncomes 53
CostofSales 15440
AdministrationandSellingExpenses 1843
Depreciation 63
InterestExpenses(Non-operating) 456
(b)Explainthesigni?canceof?nancialstatementanalysis. [7M]
Page5of5
FirstRanker.com - FirstRanker's Choice
This post was last modified on 27 November 2019