Download JNTUH (Jawaharlal Nehru Technological University Hyderabad) MBA (Master of Business Administration) R16 2017 July Second Semester (2nd Sem) Financial Accounting and Analysis Question Paper.
.
.
MBAISemesterEndExaminations(Supplementary)-July,2017
Regulation: .?R16
FINANCIALACCOUNTINGANDANALYSIS
(MasterofBusinessAdministration)
Time: 3Hours MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) DiscussthemeaningofAccountinganditsimportancetovarioususersofAccountingInformation.
[7M]
(b) Demonstratethemeaningandsigni?canceofthefollowingGAAPs: [7M]
i. SeparateEntityConcept.
ii. DualAspectConcept.
iii. AccuralConcept.
iv. ConservatismPrinciple.
2. (a) DescribetheMeaningandvariousstagesofAccountingCycle. [7M]
(b) Classifythefollowingitemsintoasset,liability,incomeandExpense: [7M]
i. Copyrights
ii. PreliminaryExpenses
iii. Pre-paidexpenses
iv. Outstandingexpenses
v. BankOverdraft
vi. Sales
vii. Goodwill
viii. Stock
ix. Taxpayable
x. RoyaltyPaid
xi. AccruedCommission
xii. Salaries
xiii. Unearnedinterest
xiv. Wages
UNIT?II
3. (a) Ms.ArorasetupAceMarketingLtd.,toprovideconsultancy.Duringashortperiodthecompany
completedthefollowingtransactions.PrepareJournalentriestorecordthetransactions. [7M]
Page1of6
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MBAISemesterEndExaminations(Supplementary)-July,2017
Regulation: .?R16
FINANCIALACCOUNTINGANDANALYSIS
(MasterofBusinessAdministration)
Time: 3Hours MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) DiscussthemeaningofAccountinganditsimportancetovarioususersofAccountingInformation.
[7M]
(b) Demonstratethemeaningandsigni?canceofthefollowingGAAPs: [7M]
i. SeparateEntityConcept.
ii. DualAspectConcept.
iii. AccuralConcept.
iv. ConservatismPrinciple.
2. (a) DescribetheMeaningandvariousstagesofAccountingCycle. [7M]
(b) Classifythefollowingitemsintoasset,liability,incomeandExpense: [7M]
i. Copyrights
ii. PreliminaryExpenses
iii. Pre-paidexpenses
iv. Outstandingexpenses
v. BankOverdraft
vi. Sales
vii. Goodwill
viii. Stock
ix. Taxpayable
x. RoyaltyPaid
xi. AccruedCommission
xii. Salaries
xiii. Unearnedinterest
xiv. Wages
UNIT?II
3. (a) Ms.ArorasetupAceMarketingLtd.,toprovideconsultancy.Duringashortperiodthecompany
completedthefollowingtransactions.PrepareJournalentriestorecordthetransactions. [7M]
Page1of6
i. Ms.ArorainvestedcashinAce?ssharecapitalRs.20,000
ii. BilledcustomersforservicesprovidedRs.5,600
iii. Paidassistant?ssalaryRs.600
iv. BoughtcomputeroncreditRs.4,400
v. ReceivedcashfromcustomersbilledearlierRs.1,350
vi. TookabankloanRs.5000
vii. PaidcreditorsRs.2,000
(b) TimeValuecompanyprovidestrainingontimemanagement. Thefollowingaretheaccount
balancesofthecompanyonSeptember30,2016.PrepareaTrialBalance. [7M]
Table1
AccountsReceivable Rs.1,200 PrepaidInsurance Rs.1,400
Building Rs.15,000 RetainedEarnings ?
Cash Rs.1,500 Revenuefromservices Rs.12,500
Creditors Rs.2,300 RentExpense Rs.1,000
Dividends Rs.750 SalariesExpense Rs.1,600
ElectricityExpense 500 Sharecapital Rs.7,500
O?ceEquipment Rs.3,000 TelephoneExpense Rs.1,050
4. (a) OnJanuary1,2012,XLtd.,purchasedasecond-handmachineforRs. 80,000andspentRs.
20,000onitscartage,repairsandinstallation. Theresidualvalueattheendofitsexpected
usefullifeof4yearsisestimatedatRs.40,000.OnSeptember30,2013,thismachineissoldfor
Rs.50,000.DepreciationtobeprovidedaccordingtoStraightLineMethod.PrepareMachinery
accountforthe?rstthreeyearsassumingthattheaccountsareclosedonMarch31,eachyear.
[8M]
(b) PreparepurchasesbookandpurchasereturnsbookinthebooksofMsSoundaryaEnterprise
fromthefollowingtransactions: [6M]
Table2
Date Transaction
12/5/16 GoodsofMRPRs.25,000purchasedfromNaveenEnterprises@20%tradediscount.
14/5/16 GoodsvaluingRs.1,100returnedtoNaveenEnterprises.
16/5//16 GoodsofMRPRs.44,000purchasedfromSatishEnterprises@10%tradediscount.
19/5/16 GoodsofcostRs.3,200returnedtoSatishEnterprises.
20/5/16 GoodscostingRs.19,000purchasedincashfromNaveenEnterprises.
21/5/16 GoodscostingRs.11,000purchasedfromTelelinkLtd.
Page2of6
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HallTicketNo QuestionPaperCode:CMB002
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MBAISemesterEndExaminations(Supplementary)-July,2017
Regulation: .?R16
FINANCIALACCOUNTINGANDANALYSIS
(MasterofBusinessAdministration)
Time: 3Hours MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) DiscussthemeaningofAccountinganditsimportancetovarioususersofAccountingInformation.
[7M]
(b) Demonstratethemeaningandsigni?canceofthefollowingGAAPs: [7M]
i. SeparateEntityConcept.
ii. DualAspectConcept.
iii. AccuralConcept.
iv. ConservatismPrinciple.
2. (a) DescribetheMeaningandvariousstagesofAccountingCycle. [7M]
(b) Classifythefollowingitemsintoasset,liability,incomeandExpense: [7M]
i. Copyrights
ii. PreliminaryExpenses
iii. Pre-paidexpenses
iv. Outstandingexpenses
v. BankOverdraft
vi. Sales
vii. Goodwill
viii. Stock
ix. Taxpayable
x. RoyaltyPaid
xi. AccruedCommission
xii. Salaries
xiii. Unearnedinterest
xiv. Wages
UNIT?II
3. (a) Ms.ArorasetupAceMarketingLtd.,toprovideconsultancy.Duringashortperiodthecompany
completedthefollowingtransactions.PrepareJournalentriestorecordthetransactions. [7M]
Page1of6
i. Ms.ArorainvestedcashinAce?ssharecapitalRs.20,000
ii. BilledcustomersforservicesprovidedRs.5,600
iii. Paidassistant?ssalaryRs.600
iv. BoughtcomputeroncreditRs.4,400
v. ReceivedcashfromcustomersbilledearlierRs.1,350
vi. TookabankloanRs.5000
vii. PaidcreditorsRs.2,000
(b) TimeValuecompanyprovidestrainingontimemanagement. Thefollowingaretheaccount
balancesofthecompanyonSeptember30,2016.PrepareaTrialBalance. [7M]
Table1
AccountsReceivable Rs.1,200 PrepaidInsurance Rs.1,400
Building Rs.15,000 RetainedEarnings ?
Cash Rs.1,500 Revenuefromservices Rs.12,500
Creditors Rs.2,300 RentExpense Rs.1,000
Dividends Rs.750 SalariesExpense Rs.1,600
ElectricityExpense 500 Sharecapital Rs.7,500
O?ceEquipment Rs.3,000 TelephoneExpense Rs.1,050
4. (a) OnJanuary1,2012,XLtd.,purchasedasecond-handmachineforRs. 80,000andspentRs.
20,000onitscartage,repairsandinstallation. Theresidualvalueattheendofitsexpected
usefullifeof4yearsisestimatedatRs.40,000.OnSeptember30,2013,thismachineissoldfor
Rs.50,000.DepreciationtobeprovidedaccordingtoStraightLineMethod.PrepareMachinery
accountforthe?rstthreeyearsassumingthattheaccountsareclosedonMarch31,eachyear.
[8M]
(b) PreparepurchasesbookandpurchasereturnsbookinthebooksofMsSoundaryaEnterprise
fromthefollowingtransactions: [6M]
Table2
Date Transaction
12/5/16 GoodsofMRPRs.25,000purchasedfromNaveenEnterprises@20%tradediscount.
14/5/16 GoodsvaluingRs.1,100returnedtoNaveenEnterprises.
16/5//16 GoodsofMRPRs.44,000purchasedfromSatishEnterprises@10%tradediscount.
19/5/16 GoodsofcostRs.3,200returnedtoSatishEnterprises.
20/5/16 GoodscostingRs.19,000purchasedincashfromNaveenEnterprises.
21/5/16 GoodscostingRs.11,000purchasedfromTelelinkLtd.
Page2of6
UNIT?III
5. (a) Thefollowingtransactionsoccurinthepurchaseandissueofamaterial: [8M]
Table3
2016
January1 Openingstock Nil
January1 Purchases 100units@Rs.30perunit
January15 Issued 50units
February1 Purchases 200units@Rs.40perunit
February15 Issued 100units
February20 Issued 100units
March1 Purchases 150units@Rs.50perunit
March15 Issued 100units
PreparestoresledgerunderFIFOmethodfromtheabovetransactions
(b) DiscussthemeaningandtypesofShareCapitalfoundinabalancesheet. [6M]
6. (a) DLtdinvitedapplicationtoissue10,000equitysharesoffacevalueRs.10eachatpar. The
amounttobepaidastoRs.4atthetimeofapplication,Rs.2.50onallotment,andtheremaining
amounton?rstand?nalcall. Thecompanyreceivedtheapplicationfor10,000sharesallthe
shareswereallotted,theamountdueonallotmentaswellason?rstand?nalcallwasreceived
intimeinfull.PassnecessaryjournalentriesinthebooksofDLtd. [8M]
(b) DiscussthemeaningandtypesofDebentures. [6M]
UNIT?IV
7. (a) FollowingarethecomparativebalancesheetsofNovoCompanyasatDecember31. [8M]
Table4
Liabilities 2014 2015 Assets 2014 2015
(Rs.) (Rs.) (Rs.) (Rs.)
Sharecapital 70,000 74,000 Goodwill 10,000 5,000
Pro?t/loss 10,040 10,560 Land 20,000 30,000
Debentures 12,000 6,000 TradeDebtors(goods) 14,900 17,700
Trade-Creditors 10,360 11,840 Stock-in-trade 49,200 42,700
Provisionfordoubtfuldebts 700 800 Cash 9,000 7,800
1,03,100 1,03,200 1,03,100 1,03,200
Page3of6
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HallTicketNo QuestionPaperCode:CMB002
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MBAISemesterEndExaminations(Supplementary)-July,2017
Regulation: .?R16
FINANCIALACCOUNTINGANDANALYSIS
(MasterofBusinessAdministration)
Time: 3Hours MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) DiscussthemeaningofAccountinganditsimportancetovarioususersofAccountingInformation.
[7M]
(b) Demonstratethemeaningandsigni?canceofthefollowingGAAPs: [7M]
i. SeparateEntityConcept.
ii. DualAspectConcept.
iii. AccuralConcept.
iv. ConservatismPrinciple.
2. (a) DescribetheMeaningandvariousstagesofAccountingCycle. [7M]
(b) Classifythefollowingitemsintoasset,liability,incomeandExpense: [7M]
i. Copyrights
ii. PreliminaryExpenses
iii. Pre-paidexpenses
iv. Outstandingexpenses
v. BankOverdraft
vi. Sales
vii. Goodwill
viii. Stock
ix. Taxpayable
x. RoyaltyPaid
xi. AccruedCommission
xii. Salaries
xiii. Unearnedinterest
xiv. Wages
UNIT?II
3. (a) Ms.ArorasetupAceMarketingLtd.,toprovideconsultancy.Duringashortperiodthecompany
completedthefollowingtransactions.PrepareJournalentriestorecordthetransactions. [7M]
Page1of6
i. Ms.ArorainvestedcashinAce?ssharecapitalRs.20,000
ii. BilledcustomersforservicesprovidedRs.5,600
iii. Paidassistant?ssalaryRs.600
iv. BoughtcomputeroncreditRs.4,400
v. ReceivedcashfromcustomersbilledearlierRs.1,350
vi. TookabankloanRs.5000
vii. PaidcreditorsRs.2,000
(b) TimeValuecompanyprovidestrainingontimemanagement. Thefollowingaretheaccount
balancesofthecompanyonSeptember30,2016.PrepareaTrialBalance. [7M]
Table1
AccountsReceivable Rs.1,200 PrepaidInsurance Rs.1,400
Building Rs.15,000 RetainedEarnings ?
Cash Rs.1,500 Revenuefromservices Rs.12,500
Creditors Rs.2,300 RentExpense Rs.1,000
Dividends Rs.750 SalariesExpense Rs.1,600
ElectricityExpense 500 Sharecapital Rs.7,500
O?ceEquipment Rs.3,000 TelephoneExpense Rs.1,050
4. (a) OnJanuary1,2012,XLtd.,purchasedasecond-handmachineforRs. 80,000andspentRs.
20,000onitscartage,repairsandinstallation. Theresidualvalueattheendofitsexpected
usefullifeof4yearsisestimatedatRs.40,000.OnSeptember30,2013,thismachineissoldfor
Rs.50,000.DepreciationtobeprovidedaccordingtoStraightLineMethod.PrepareMachinery
accountforthe?rstthreeyearsassumingthattheaccountsareclosedonMarch31,eachyear.
[8M]
(b) PreparepurchasesbookandpurchasereturnsbookinthebooksofMsSoundaryaEnterprise
fromthefollowingtransactions: [6M]
Table2
Date Transaction
12/5/16 GoodsofMRPRs.25,000purchasedfromNaveenEnterprises@20%tradediscount.
14/5/16 GoodsvaluingRs.1,100returnedtoNaveenEnterprises.
16/5//16 GoodsofMRPRs.44,000purchasedfromSatishEnterprises@10%tradediscount.
19/5/16 GoodsofcostRs.3,200returnedtoSatishEnterprises.
20/5/16 GoodscostingRs.19,000purchasedincashfromNaveenEnterprises.
21/5/16 GoodscostingRs.11,000purchasedfromTelelinkLtd.
Page2of6
UNIT?III
5. (a) Thefollowingtransactionsoccurinthepurchaseandissueofamaterial: [8M]
Table3
2016
January1 Openingstock Nil
January1 Purchases 100units@Rs.30perunit
January15 Issued 50units
February1 Purchases 200units@Rs.40perunit
February15 Issued 100units
February20 Issued 100units
March1 Purchases 150units@Rs.50perunit
March15 Issued 100units
PreparestoresledgerunderFIFOmethodfromtheabovetransactions
(b) DiscussthemeaningandtypesofShareCapitalfoundinabalancesheet. [6M]
6. (a) DLtdinvitedapplicationtoissue10,000equitysharesoffacevalueRs.10eachatpar. The
amounttobepaidastoRs.4atthetimeofapplication,Rs.2.50onallotment,andtheremaining
amounton?rstand?nalcall. Thecompanyreceivedtheapplicationfor10,000sharesallthe
shareswereallotted,theamountdueonallotmentaswellason?rstand?nalcallwasreceived
intimeinfull.PassnecessaryjournalentriesinthebooksofDLtd. [8M]
(b) DiscussthemeaningandtypesofDebentures. [6M]
UNIT?IV
7. (a) FollowingarethecomparativebalancesheetsofNovoCompanyasatDecember31. [8M]
Table4
Liabilities 2014 2015 Assets 2014 2015
(Rs.) (Rs.) (Rs.) (Rs.)
Sharecapital 70,000 74,000 Goodwill 10,000 5,000
Pro?t/loss 10,040 10,560 Land 20,000 30,000
Debentures 12,000 6,000 TradeDebtors(goods) 14,900 17,700
Trade-Creditors 10,360 11,840 Stock-in-trade 49,200 42,700
Provisionfordoubtfuldebts 700 800 Cash 9,000 7,800
1,03,100 1,03,200 1,03,100 1,03,200
Page3of6
AdditionalInformation:
i. DividendswerepaidtotalingRs.3,500.
ii. LandwaspurchasedforRs.10,000andamountprovidedfortheamortizationofgoodwill
totaledRs.5,000.
iii. DebentureloanwasrepaidRs.6,000.
Preparefunds?owstatementofNovoCompany.
(b) DescribethemeaningofFundsFlowStatement. CompareFundsFlowwithIncomestatement.
ExplaintheusesofFunds?owstatement. [6M]
8. (a) TheBalanceSheetsofVXLLimitedasatDecember31oftwoyearsaregivenbelow: [8M]
Table5
Assets 2016 2015
(Rs.) (Rs.)
CashBalances 60,000 50,000
Tradedebtors 100,000 75,000
Inventory 120,000 140,000
Land 80,000 100,000
PlantandMachinery 250,000 200,000
Total 610,000 565,000
LiabilitiesandCapital
TradeCreditors 40,000 30,000
Debentures 90,000 150,000
ProvisionfordepreciationonPlant 80,000 60,000
EquityShareCapital 240,000 200,000
RetainedEarnings 160,000 125,000
Total 610,000 565,000
CashdividendsofRs.25,000havebeenpaidduringtheyear.
PrepareaCash?owstatementforVXLLimited.
(b) Describethemeaningofcash?owstatement.Comparefunds?owwithcash?owstatement.
[6M]
UNIT?V
9. (a) Calculatethefollowingratiosfromthegivenbalancesheet: [7M]
i. Currentratio
ii. FixedAssetstoNetworthratio
iii. Debtequityratio
iv. Returnoncapitalemployed
Page4of6
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MBAISemesterEndExaminations(Supplementary)-July,2017
Regulation: .?R16
FINANCIALACCOUNTINGANDANALYSIS
(MasterofBusinessAdministration)
Time: 3Hours MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) DiscussthemeaningofAccountinganditsimportancetovarioususersofAccountingInformation.
[7M]
(b) Demonstratethemeaningandsigni?canceofthefollowingGAAPs: [7M]
i. SeparateEntityConcept.
ii. DualAspectConcept.
iii. AccuralConcept.
iv. ConservatismPrinciple.
2. (a) DescribetheMeaningandvariousstagesofAccountingCycle. [7M]
(b) Classifythefollowingitemsintoasset,liability,incomeandExpense: [7M]
i. Copyrights
ii. PreliminaryExpenses
iii. Pre-paidexpenses
iv. Outstandingexpenses
v. BankOverdraft
vi. Sales
vii. Goodwill
viii. Stock
ix. Taxpayable
x. RoyaltyPaid
xi. AccruedCommission
xii. Salaries
xiii. Unearnedinterest
xiv. Wages
UNIT?II
3. (a) Ms.ArorasetupAceMarketingLtd.,toprovideconsultancy.Duringashortperiodthecompany
completedthefollowingtransactions.PrepareJournalentriestorecordthetransactions. [7M]
Page1of6
i. Ms.ArorainvestedcashinAce?ssharecapitalRs.20,000
ii. BilledcustomersforservicesprovidedRs.5,600
iii. Paidassistant?ssalaryRs.600
iv. BoughtcomputeroncreditRs.4,400
v. ReceivedcashfromcustomersbilledearlierRs.1,350
vi. TookabankloanRs.5000
vii. PaidcreditorsRs.2,000
(b) TimeValuecompanyprovidestrainingontimemanagement. Thefollowingaretheaccount
balancesofthecompanyonSeptember30,2016.PrepareaTrialBalance. [7M]
Table1
AccountsReceivable Rs.1,200 PrepaidInsurance Rs.1,400
Building Rs.15,000 RetainedEarnings ?
Cash Rs.1,500 Revenuefromservices Rs.12,500
Creditors Rs.2,300 RentExpense Rs.1,000
Dividends Rs.750 SalariesExpense Rs.1,600
ElectricityExpense 500 Sharecapital Rs.7,500
O?ceEquipment Rs.3,000 TelephoneExpense Rs.1,050
4. (a) OnJanuary1,2012,XLtd.,purchasedasecond-handmachineforRs. 80,000andspentRs.
20,000onitscartage,repairsandinstallation. Theresidualvalueattheendofitsexpected
usefullifeof4yearsisestimatedatRs.40,000.OnSeptember30,2013,thismachineissoldfor
Rs.50,000.DepreciationtobeprovidedaccordingtoStraightLineMethod.PrepareMachinery
accountforthe?rstthreeyearsassumingthattheaccountsareclosedonMarch31,eachyear.
[8M]
(b) PreparepurchasesbookandpurchasereturnsbookinthebooksofMsSoundaryaEnterprise
fromthefollowingtransactions: [6M]
Table2
Date Transaction
12/5/16 GoodsofMRPRs.25,000purchasedfromNaveenEnterprises@20%tradediscount.
14/5/16 GoodsvaluingRs.1,100returnedtoNaveenEnterprises.
16/5//16 GoodsofMRPRs.44,000purchasedfromSatishEnterprises@10%tradediscount.
19/5/16 GoodsofcostRs.3,200returnedtoSatishEnterprises.
20/5/16 GoodscostingRs.19,000purchasedincashfromNaveenEnterprises.
21/5/16 GoodscostingRs.11,000purchasedfromTelelinkLtd.
Page2of6
UNIT?III
5. (a) Thefollowingtransactionsoccurinthepurchaseandissueofamaterial: [8M]
Table3
2016
January1 Openingstock Nil
January1 Purchases 100units@Rs.30perunit
January15 Issued 50units
February1 Purchases 200units@Rs.40perunit
February15 Issued 100units
February20 Issued 100units
March1 Purchases 150units@Rs.50perunit
March15 Issued 100units
PreparestoresledgerunderFIFOmethodfromtheabovetransactions
(b) DiscussthemeaningandtypesofShareCapitalfoundinabalancesheet. [6M]
6. (a) DLtdinvitedapplicationtoissue10,000equitysharesoffacevalueRs.10eachatpar. The
amounttobepaidastoRs.4atthetimeofapplication,Rs.2.50onallotment,andtheremaining
amounton?rstand?nalcall. Thecompanyreceivedtheapplicationfor10,000sharesallthe
shareswereallotted,theamountdueonallotmentaswellason?rstand?nalcallwasreceived
intimeinfull.PassnecessaryjournalentriesinthebooksofDLtd. [8M]
(b) DiscussthemeaningandtypesofDebentures. [6M]
UNIT?IV
7. (a) FollowingarethecomparativebalancesheetsofNovoCompanyasatDecember31. [8M]
Table4
Liabilities 2014 2015 Assets 2014 2015
(Rs.) (Rs.) (Rs.) (Rs.)
Sharecapital 70,000 74,000 Goodwill 10,000 5,000
Pro?t/loss 10,040 10,560 Land 20,000 30,000
Debentures 12,000 6,000 TradeDebtors(goods) 14,900 17,700
Trade-Creditors 10,360 11,840 Stock-in-trade 49,200 42,700
Provisionfordoubtfuldebts 700 800 Cash 9,000 7,800
1,03,100 1,03,200 1,03,100 1,03,200
Page3of6
AdditionalInformation:
i. DividendswerepaidtotalingRs.3,500.
ii. LandwaspurchasedforRs.10,000andamountprovidedfortheamortizationofgoodwill
totaledRs.5,000.
iii. DebentureloanwasrepaidRs.6,000.
Preparefunds?owstatementofNovoCompany.
(b) DescribethemeaningofFundsFlowStatement. CompareFundsFlowwithIncomestatement.
ExplaintheusesofFunds?owstatement. [6M]
8. (a) TheBalanceSheetsofVXLLimitedasatDecember31oftwoyearsaregivenbelow: [8M]
Table5
Assets 2016 2015
(Rs.) (Rs.)
CashBalances 60,000 50,000
Tradedebtors 100,000 75,000
Inventory 120,000 140,000
Land 80,000 100,000
PlantandMachinery 250,000 200,000
Total 610,000 565,000
LiabilitiesandCapital
TradeCreditors 40,000 30,000
Debentures 90,000 150,000
ProvisionfordepreciationonPlant 80,000 60,000
EquityShareCapital 240,000 200,000
RetainedEarnings 160,000 125,000
Total 610,000 565,000
CashdividendsofRs.25,000havebeenpaidduringtheyear.
PrepareaCash?owstatementforVXLLimited.
(b) Describethemeaningofcash?owstatement.Comparefunds?owwithcash?owstatement.
[6M]
UNIT?V
9. (a) Calculatethefollowingratiosfromthegivenbalancesheet: [7M]
i. Currentratio
ii. FixedAssetstoNetworthratio
iii. Debtequityratio
iv. Returnoncapitalemployed
Page4of6
Table6:BalanceSheet
Liabilities Assets Rs. Rs.
600sharesofRs.100each 60,000 Land 40,000
GeneralReserve 35,000 Plant 20,000
DividendEqualisationReserve 5,000 Machinery 27,500
Long-termloans 20,000 Investments 25,000
Billspayable 30,000 Inventories 30000
Provisionfortax 5,000 Billsreceivable 13,500
Pro?t&lossA/c
Balance(cr)LastYear:1,000
Currentyear:20,000 21,000 Cashandbank 12,000
Preliminaryexpenses 8,000
176,000 176,000
(b) DescribethemeaningandtypesofFinancialStatements. [7M]
10. (a) ThefollowingTradingandPro?tandLossAccountisgiven: [8M]
Table7:TradingandPro?tandLossA/c.Fortheyearending31stMarch2016
Rs. Rs.
ToOpeningstock 76,250 BySales 500,000
ToPurchases 315,250 ByClosingstock 98,500
ToCarriage 2,000
ToWages 5,000
ToGrosspro?t 200,000
598,500 598,500
ToAdministrativeexpenses 100,000 ByGrosspro?t 200,000
ToSelling&distributionexpenses 13,000 ByNonoperatingincomes 6,000
ToFinancialexpenses 7,000
ToOthernon-operatingexpenses 2,000
ToNetpro?t 84,000
206,000 206,000
Page5of6
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HallTicketNo QuestionPaperCode:CMB002
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MBAISemesterEndExaminations(Supplementary)-July,2017
Regulation: .?R16
FINANCIALACCOUNTINGANDANALYSIS
(MasterofBusinessAdministration)
Time: 3Hours MaxMarks: 70
AnswerONEQuestionfromeachUnit
AllQuestionsCarryEqualMarks
Allpartsofthequestionmustbeansweredinoneplaceonly
UNIT?I
1. (a) DiscussthemeaningofAccountinganditsimportancetovarioususersofAccountingInformation.
[7M]
(b) Demonstratethemeaningandsigni?canceofthefollowingGAAPs: [7M]
i. SeparateEntityConcept.
ii. DualAspectConcept.
iii. AccuralConcept.
iv. ConservatismPrinciple.
2. (a) DescribetheMeaningandvariousstagesofAccountingCycle. [7M]
(b) Classifythefollowingitemsintoasset,liability,incomeandExpense: [7M]
i. Copyrights
ii. PreliminaryExpenses
iii. Pre-paidexpenses
iv. Outstandingexpenses
v. BankOverdraft
vi. Sales
vii. Goodwill
viii. Stock
ix. Taxpayable
x. RoyaltyPaid
xi. AccruedCommission
xii. Salaries
xiii. Unearnedinterest
xiv. Wages
UNIT?II
3. (a) Ms.ArorasetupAceMarketingLtd.,toprovideconsultancy.Duringashortperiodthecompany
completedthefollowingtransactions.PrepareJournalentriestorecordthetransactions. [7M]
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i. Ms.ArorainvestedcashinAce?ssharecapitalRs.20,000
ii. BilledcustomersforservicesprovidedRs.5,600
iii. Paidassistant?ssalaryRs.600
iv. BoughtcomputeroncreditRs.4,400
v. ReceivedcashfromcustomersbilledearlierRs.1,350
vi. TookabankloanRs.5000
vii. PaidcreditorsRs.2,000
(b) TimeValuecompanyprovidestrainingontimemanagement. Thefollowingaretheaccount
balancesofthecompanyonSeptember30,2016.PrepareaTrialBalance. [7M]
Table1
AccountsReceivable Rs.1,200 PrepaidInsurance Rs.1,400
Building Rs.15,000 RetainedEarnings ?
Cash Rs.1,500 Revenuefromservices Rs.12,500
Creditors Rs.2,300 RentExpense Rs.1,000
Dividends Rs.750 SalariesExpense Rs.1,600
ElectricityExpense 500 Sharecapital Rs.7,500
O?ceEquipment Rs.3,000 TelephoneExpense Rs.1,050
4. (a) OnJanuary1,2012,XLtd.,purchasedasecond-handmachineforRs. 80,000andspentRs.
20,000onitscartage,repairsandinstallation. Theresidualvalueattheendofitsexpected
usefullifeof4yearsisestimatedatRs.40,000.OnSeptember30,2013,thismachineissoldfor
Rs.50,000.DepreciationtobeprovidedaccordingtoStraightLineMethod.PrepareMachinery
accountforthe?rstthreeyearsassumingthattheaccountsareclosedonMarch31,eachyear.
[8M]
(b) PreparepurchasesbookandpurchasereturnsbookinthebooksofMsSoundaryaEnterprise
fromthefollowingtransactions: [6M]
Table2
Date Transaction
12/5/16 GoodsofMRPRs.25,000purchasedfromNaveenEnterprises@20%tradediscount.
14/5/16 GoodsvaluingRs.1,100returnedtoNaveenEnterprises.
16/5//16 GoodsofMRPRs.44,000purchasedfromSatishEnterprises@10%tradediscount.
19/5/16 GoodsofcostRs.3,200returnedtoSatishEnterprises.
20/5/16 GoodscostingRs.19,000purchasedincashfromNaveenEnterprises.
21/5/16 GoodscostingRs.11,000purchasedfromTelelinkLtd.
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UNIT?III
5. (a) Thefollowingtransactionsoccurinthepurchaseandissueofamaterial: [8M]
Table3
2016
January1 Openingstock Nil
January1 Purchases 100units@Rs.30perunit
January15 Issued 50units
February1 Purchases 200units@Rs.40perunit
February15 Issued 100units
February20 Issued 100units
March1 Purchases 150units@Rs.50perunit
March15 Issued 100units
PreparestoresledgerunderFIFOmethodfromtheabovetransactions
(b) DiscussthemeaningandtypesofShareCapitalfoundinabalancesheet. [6M]
6. (a) DLtdinvitedapplicationtoissue10,000equitysharesoffacevalueRs.10eachatpar. The
amounttobepaidastoRs.4atthetimeofapplication,Rs.2.50onallotment,andtheremaining
amounton?rstand?nalcall. Thecompanyreceivedtheapplicationfor10,000sharesallthe
shareswereallotted,theamountdueonallotmentaswellason?rstand?nalcallwasreceived
intimeinfull.PassnecessaryjournalentriesinthebooksofDLtd. [8M]
(b) DiscussthemeaningandtypesofDebentures. [6M]
UNIT?IV
7. (a) FollowingarethecomparativebalancesheetsofNovoCompanyasatDecember31. [8M]
Table4
Liabilities 2014 2015 Assets 2014 2015
(Rs.) (Rs.) (Rs.) (Rs.)
Sharecapital 70,000 74,000 Goodwill 10,000 5,000
Pro?t/loss 10,040 10,560 Land 20,000 30,000
Debentures 12,000 6,000 TradeDebtors(goods) 14,900 17,700
Trade-Creditors 10,360 11,840 Stock-in-trade 49,200 42,700
Provisionfordoubtfuldebts 700 800 Cash 9,000 7,800
1,03,100 1,03,200 1,03,100 1,03,200
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AdditionalInformation:
i. DividendswerepaidtotalingRs.3,500.
ii. LandwaspurchasedforRs.10,000andamountprovidedfortheamortizationofgoodwill
totaledRs.5,000.
iii. DebentureloanwasrepaidRs.6,000.
Preparefunds?owstatementofNovoCompany.
(b) DescribethemeaningofFundsFlowStatement. CompareFundsFlowwithIncomestatement.
ExplaintheusesofFunds?owstatement. [6M]
8. (a) TheBalanceSheetsofVXLLimitedasatDecember31oftwoyearsaregivenbelow: [8M]
Table5
Assets 2016 2015
(Rs.) (Rs.)
CashBalances 60,000 50,000
Tradedebtors 100,000 75,000
Inventory 120,000 140,000
Land 80,000 100,000
PlantandMachinery 250,000 200,000
Total 610,000 565,000
LiabilitiesandCapital
TradeCreditors 40,000 30,000
Debentures 90,000 150,000
ProvisionfordepreciationonPlant 80,000 60,000
EquityShareCapital 240,000 200,000
RetainedEarnings 160,000 125,000
Total 610,000 565,000
CashdividendsofRs.25,000havebeenpaidduringtheyear.
PrepareaCash?owstatementforVXLLimited.
(b) Describethemeaningofcash?owstatement.Comparefunds?owwithcash?owstatement.
[6M]
UNIT?V
9. (a) Calculatethefollowingratiosfromthegivenbalancesheet: [7M]
i. Currentratio
ii. FixedAssetstoNetworthratio
iii. Debtequityratio
iv. Returnoncapitalemployed
Page4of6
Table6:BalanceSheet
Liabilities Assets Rs. Rs.
600sharesofRs.100each 60,000 Land 40,000
GeneralReserve 35,000 Plant 20,000
DividendEqualisationReserve 5,000 Machinery 27,500
Long-termloans 20,000 Investments 25,000
Billspayable 30,000 Inventories 30000
Provisionfortax 5,000 Billsreceivable 13,500
Pro?t&lossA/c
Balance(cr)LastYear:1,000
Currentyear:20,000 21,000 Cashandbank 12,000
Preliminaryexpenses 8,000
176,000 176,000
(b) DescribethemeaningandtypesofFinancialStatements. [7M]
10. (a) ThefollowingTradingandPro?tandLossAccountisgiven: [8M]
Table7:TradingandPro?tandLossA/c.Fortheyearending31stMarch2016
Rs. Rs.
ToOpeningstock 76,250 BySales 500,000
ToPurchases 315,250 ByClosingstock 98,500
ToCarriage 2,000
ToWages 5,000
ToGrosspro?t 200,000
598,500 598,500
ToAdministrativeexpenses 100,000 ByGrosspro?t 200,000
ToSelling&distributionexpenses 13,000 ByNonoperatingincomes 6,000
ToFinancialexpenses 7,000
ToOthernon-operatingexpenses 2,000
ToNetpro?t 84,000
206,000 206,000
Page5of6
Calculate:
i. GrossPro?tratio
ii. NetPro?tratio
iii. Operatingratio
iv. Operatingpro?tratio
v. Currentratio
vi. Stockturnoverratio
(b) Describethemeaningandclassi?cationofRatios. [6M]
? ? ? ? ? ? ?
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This post was last modified on 04 December 2019