Download JNTUH (Jawaharlal nehru technological university) MCA (Master of Computer Applications) 2nd Sem (Second Semester) Regulation-R19 2021 July-August 862AE Accountancy And Financial Management Previous Question Paper
R19
Code No: 862AE
JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
2021 MCA II Semester Examinations, July/August - 2021
ACCOUNTANCY AND FINANCIAL MANAGEMENT
Time: 3 Hours
Max.Marks:75
Answer any five questions
All questions carry equal marks
- - -
1.
Record the following transactions in the Journal and post them into ledger and prepare a
Trail Balance.
[15]
March 1st : Neeraj started business with a capital of (Rs.) 80,000
March 5th : Bought goods from Kavita on credit (Rs.) 20,000
March 7th : Sold goods to Trina (Rs.) 25,000
March 9th : Cash purchases (Rs.) 25,000
March 10th : Cash sales (Rs.) 15,000
March 11th : Goods retuned to Kavita (Rs.) 2,000
March 12th : Bought furniture for (Rs.) 15,000
March 13th : Cash paid to Kavita (Rs.) 12,000
March 15th : Goods returned by Trina (Rs.) 3,000
March 17th : Goods taken by Neeraj for personal use (Rs.) 3,000
March 18th : Cash received from Trina (Rs.) 12,000
March 19th : Took loan from Parag (Rs.) 30,000
March 20th : Salary paid (Rs.) 5,000
March 21st : Bought stationery for (Rs.) 1,000
March 22nd : Amount paid to Parag on loan account (Rs.) 18,000
March 25th : Interest received (Rs.) 4,000
2.a)
Define Accounting and explain different principles of Accounting in detail.
b)
Explain the concept of double entry system of accounting with its rules.
[7+8]
3.
From the information given below, calculate:
a) P/V Ratio, b) Fixed expenses, c) Expected profit if sales are budgeted at Rs. 90,000.
[5+5+5]
Year
sales
Profit
2004
1,80,000
30,000
2005
2,60,000
50,000
4.
Explain the basic principles of costing and identify difference between Absorption
costing and marginal costing.
[15]
2021
5.
L&T Company produces many products for household use. Company sells products to
storekeepers as well as to customers. Bags-RX is one of the products of L&T. It is a
cleaning product that is produced, packed in large boxes and then sold to customers and
storekeepers.
L&T uses a traditional standard costing system to control costs and has established the
following materials, labor and overhead standards to produce one box of Bags-RX are as
follows:
Direct materials; 1.5 pounds @ 12 per pound: 18.00
Direct labor; 0.6 hours 24 per hour: 14.40
Variable manufacturing overhead; 0.6 hours @ 5.00: 3.00
During August 2019, company produced and sold 3,000 boxes of Bags-RX. 8,000 pounds
of direct materials were purchased @ 11.50 per pound. Out of these 8,000 pounds, 6,000
pounds were used during August. There was no inventory at the beginning of August.
1600 direct labor hours were recorded during the month at a cost of 40,000. The variable
manufacturing overhead costs during August totaled 7,200.
From the above information compute:
a) Direct Labor Rate Variance and
b) Direct Labor Efficiency Variance. (Assume that the materials price variance is
computed at the time of purchase.)
[7+8]
6.a)
What do you understood by Financial Management? Explain its scope and role.
b)
Identify advantages and limitations of Ratio Analysis.
[8+7]
7.
Define Cash flow statement and give a mock preparation and interpretation of cash flow
statement.
[15]
8.a)
What is the difference between master file and transaction file in computerized
accounting system?
b)
Discuss how the introduction documents are used for data collection.
[8+7]
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This post was last modified on 17 March 2023