Code No: 871AE
R20
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JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
MCA I Semester Examinations, May - 2022
ACCOUNTING AND FINANCIAL MANAGEMENT
Time: 3 Hours
Max.Marks:75
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Answer any five questions
All questions carry equal marks
- What are the advantages of Double Entry System of Accounting? Write the benefits of automated systems. [15]
- From the under mentioned Trial Balance of Jayason & Co., prepare Trading and Profit and Loss Account for the year ending 31st March, 2012.
Trial Balance as on 31st March, 2012--- Content provided by FirstRanker.com ---
Dr. (Rs.) Cr. (Rs.) Opening Stock 45,000 - Capital Account -- 90,000 Plant and Machinery 85,000 - Sundry Creditors -- 40,000 Furniture and Fixtures 7,500 - Discount Received - 3,500 Freehold premises 75,000 - Bank overdraft - 20,000 Purchases 1,50,000 - Provision for Bad Debts - 3,000 Salaries 14,000 - Purchase Returns - 1,500 Sundry Debtors 55,000 - Sales (net) -- 3,37,070 Manufacturing Expenses 15,000 - Manufacturing Wages 30,000 - Carriage Inwards 2,000 - Carriage Outwards 2,100 - Administrative Expenses 10,000 - Bad Debts 750 - Interest and Bank Charges 625 -- Discount Allowed 750 - Insurance 1,500 - Cash at Bank 695 - Cash in hand 150 -- 4,95,070 4,95,070
The following adjustments are required :
a) Closing stock as on 31st March, 2012 was Rs. 57,000.
b) Depreciation on Plant and Machinery @ 10%, Furniture and Fixtures @ 5%.
c) Prepaid Insurance Rs. 500.--- Content provided by FirstRanker.com ---
d) Prepaid Salary Rs. 600. [15] - Do you support the concepts of Profit Maximization and Wealth Maximization? Give Reasons. [15]
- The following details are available from a company.
Liabilities 31-12-2012 31-12-2014 Assets 31-12-2012 31-12-2014 Share Capital 70,000 74,000 Cash 9,000 7,800 Debentures 12,000 6,000 Debtors 14,900 17,700 Reserve for Doubtful debts 700 800 Stock 49,200 42,700 Trade Creditors 10,360 11,840 Land 20,000 30,000 P&L A/c 10,040 10,560 Goodwill 10,000 5,000 1,03,100 1,03,200 1,03,100 1,03,200
Prepare Cash Flow Statement with the following information:--- Content provided by FirstRanker.com ---
a) Dividend paid total Rs. 3,500
b) Land was purchased for Rs. 10,000, Amount provided by amortization of goodwill Rs. 5,000.
c) Debentures paid off Rs. 6,000. [15] - What is the scope, nature and objectives of CVP Analysis? Give some examples. [15]
- From the following information calculate the total cost: [15]
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Direct Material 1,60,000
Direct Labour 52,000
Direct Expenses 10,000
Factory Overheads 45,000
Office and Administration Overheads 28,000--- Content provided by FirstRanker.com ---
Selling and Distribution Overheads 33,000 - What is a Cash Budget? Prepare a model of Cash Budget with imaginary figures. [15]
- “Computerized Accounting System plays a vital role in the functioning of any Organization”. Discuss. [15]
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