MVMOM: 54705 / Financial Management
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(3 Hours) Total Marks: 100
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Please check whether you have got the right question paper.
Note : 1. Question No. 1 is compulsory.
2. Attempt any two questions from question no. 2-4
3. Attempt any two questions from question no. 5-7
4. Answer to questions should be grouped and written together.
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5. Figures to the right indicate full marks assigned to the question.
Q.1 A From the following trial balance prepare Trading, Profit & Loss account and the [10] balance sheet of Mica & Sons for the year ended on 31st March, 2018.
| Particulars | Rs. |
|---|---|
| Advertisement | 4,500 |
| Furniture | 22,500 |
| Salaries | 35,000 |
| Bills receivable | 20,000 |
| Sundry creditors | 20,000 |
| Bank loan | 1,00,000 |
| Sundry debtors | 10,000 |
| Insurance premium | 2,500 |
| Sales | 2,40,000 |
| Drawings | 1,000 |
| Carriage outward | 1,000 |
| Purchases | 25,000 |
| Building | 2,50,000 |
| Sales return | 500 |
| Opening stock | 50,000 |
| Bad debts | 750 |
| Capital | 2,86,750 |
| Trade expense | 1,250 |
| Bank balances | 1,25,000 |
| Purchases return | 8,250 |
| Wages | 2,500 |
| Interest received | 1,000 |
| Plant and Machinery | 1,00,000 |
| Carriage inward | 4,500 |
Closing stock is valued at Rs. 45,000
B Explain Causes of Disagreement Between Cash Book and Pass Book in Bank [10] Reconciliation statement.
Q.2 A. Journalize the following transactions in the books of Pin & Bros. [10]
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- 1st Nov : Invested Cash in business Rs 40,000/-
- 4th Nov : Purchased Goods for cash Rs 10,000/-
- 7th Nov : Goods sold for cash. Product worth Rs 20,000/- which includes Trade Discount Rs 2,000/- and Cash Discount Rs 1,000/-
- 9th Nov : Took loan from Abha of Rs 2,000/-
- 10th Nov : Sold goods to Mr. Vada on credit Rs 10,000/-
- 12th Nov : Purchased Machinery worth Rs 1,00,000/-
- 14th Nov : Sold personal Motorcycle at Rs 10,000/-
- 19th Nov : Lost goods worth Rs 20,000/-
- 25th Nov : Mr. Vada paid cash
- 29th Nov : Paid to bank as cash against commission Rs 500/-
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B. Explain Flexible and Master Budget in detail. [10]
Q.3 A Explain Meaning, Significance and Limitations of Ratio Analysis [10]
B Explain different cost elements in detail. [10]
Q.4 A. Prepare Cash Book with Discount, Cash and Bank as Column for Nov. 2018 of M/s. Dida Bros. [10]
- Cash balance Rs. 40,000/- and bank-balance Rs 50,000/-
- Purchased goods from Zyan worth Rs.5,00,000/- on credit
- Bank has charged Interest Rs:100/-
- Purchased goods for Rs 70,000/- paid Rs 20,000/- by cash and rest by cheque
- Paid Wages by cheque Rs 5,000/-
- Sale of Rs 20,000/~ and received bearer cheque.
- Sold goods for cash Rs 30,000/-
- Dim has directly deposited cash in bank Rs 50,000/-
- Deposit into bank all in excess of Rs.1,000/-
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B. Explain Fixed capital and Working capital. [10]
Q.5 A. MatLtd. gives the following Balance sheet. Compute both ratios. [10]
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- Liquid Ratio
- Solvency Ratio
Balance Sheet
| Liabilities | Rs. | Assets | Rs. |
|---|---|---|---|
| 12% Debentures | 6,00,000 | Debtors | 4,00,000 |
| Reserve fund | 2,00,000 | Stock | 10,00,000 |
| Overdraft | 2,00,000 | Cash | 2,00,000 |
| Creditors | 4,00,000 | Fixed Assets | 28,00,000 |
| Equity share capital | 30,00,000 | ||
| Total | 44,00,000 | Total | 44,00,000 |
B. Explain Cash and Fund flow in detail. [10]
Q.6 A. From the following forecasts of income and expenditure, prepare a cash budget for [10] the month Jan. to Mar 2019.
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| Nov’ 18 | Dec’18 | Jan’19 | Feb’ 19 | Mar’19 | |
|---|---|---|---|---|---|
| Sales | 40,000 | 60,000 | 80,000 | 20,000 | 30,000 |
| Purchases | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| Expenses | 2,000 | 5,000 | 2,000 | 1,000 | 2,000 |
| Wages | 1,000 | 2,000 | 3,000 | 4,000 | 5,000 |
| Overhead | 2,000 | 1,000 | 1,000 | 3,000 | 4,000 |
- Opening balance for Jan’19 is Rs 3,50,000/-
- Delay in wages by two months
- Expenses are to be realized in same month and rest all are delayed by month.
B. Explain any five Determinants of Working Capital. [10]
Q.7 Write Short Note on (ANY FOUR) [20]
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- i) Batch costing
- ii) Accrued Income
- iii) Unearned Income
- iv) Further Bad Debts(FBD)
- v) Liquid Assets
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