Download GTU MBA 2018 Winter 1st Sem 2810001 Accounting For Managers Question Paper

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Seat No.: Enrolment No.

GUJARAT TECHNOLOGICAL UNIVERSITY

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Instructions:

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1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.

Q-1 (A) From the four alternative answers given against each of the following cases, indicate the correct answer :(just state A, B, C or D) (06)

1. Patent is shown under
   1. Fixed Assets

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   2. Current Liabilities
   3. Current Assets
   4. None of the above
2. Purchase book is an example of
   1. Subsidiary book

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   2. Journal
   3. Ledger
   4. None of these
3. FIFO Means
   1. First in first out

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   2. Fifth in first out
   3. First in fifth out
   4. None of the above
4. Which of this is not a fixed assets
   1. Land and building

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   2. Cash
   3. Furniture
   4. Machinery
5. Which of the following is an intangible assets
   1. Goodwill

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   2. Patent
   3. Patent
   4. All of the above
6. Profit and loss statement is prepared for the purpose of
   1. To know net profit or loss of the business

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   2. To know net financial position of the business
   3. To know gross profit or loss of the business
   4. None of the above

Q-1 (B) Explain the following terms (04)

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1. Business Entity Concept
2. Current ratio
3. Money Measurement concept
4. Define Accounting

Q-1 (C) What do you understand by Trend Analysis? Explain in brief with hypothetical example. (04)

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Q-2(A) Define Accounting. Explain the different branches of accounting (07)

Q-2 (B) Write Journal entry for the following transaction in the books of Pradeep . (07)

1. 3 April 2015. Paid in to bank Rs.70000
2. 5 April 2015. Cash Sales Rs.30000
3. 7 April 2015 Cash Purchases Rs.20000

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4. 12 April 2015. Paid Salaries Rs.15000
5. 15 April 2015 Paid rent Rs.5000
6. 25 April 2015 Commission received Rs.20000

OR

Q-2 (B) Explain the users of Accounting information (07)

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Q-3 (A) Explain the Accounting standard (AS-10) Fixed assets (07)

Q-3(B) Rati udhyog ltd has established a new project details of fixed assets and expenditure incurred during the construction of the projects are given below .determine the cost of each asset at the end of the completion of the project. (07)

OR

Q-3 (A) Explain the important tools of financial statement analysis. (07)

Q-3 (B) Prepare Stores ledger from the following transaction adopting the FIFO Methods of Pricing out issues .(07)

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1. 1st March 2015. Opening stock 200 units at'Rs.2.00 per unit.
2. 2nd March 2015 Purchased 600 units at Rs:3.00 per unit.
3. 6th March 2015 issued 600 units.
4. 12th March 201555. Purchased 400 unit at Rs.3.40 per units.
5. 22nd March 2015. Issued 300 units.

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6. 26th March 2015. Purchased 500 units at Rs.3.50 per units.
7. 30th March 2015. Issued 200 units.

Q-4 (A) What is Meaning of Depreciation Accounting and Causes of Depreciation. (07)

Q-4 (B) Following is the Balance sheet of Global Exports as on 31-03-2001 and 31-03-2012. You are required to prepare the comparative Statement and Comment of the financial position of the Concern. (07)

OR

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Q-4(A) The ABC ltd purchased a machine costing Rs.90000 from MM ltd.The cost incurred for bringing the ,machine to the point of use amounted to Rs.15000. The estimated life of the machine is 8 years . The scrape value at the end of the life is estimated to be Rs.5000 Calculate the rate of depreciation for the following methods. (07)

1. Straight line method.
2. Written down value method.
3. Sum of years digit method for the first two years.
4. The unit of production method assuming the first two years production as 30000 and 25000 units respectively 1,50,000 units during the whole life.

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Q-4 (B) what do you mean by ‘Fund Flow Statement’? Discuss the importance of Fund Flow Statement. (07)

Q-5 You are given the following figures about the delta ltd for the accounting year ended on 31st December 2008 (14)

Current ratio:2.5 , Liquid ratio : 1.5, Net working capital : Rs.300,000
Stock turnover ratio: 6 times (Cost goods sold to average stock)
Gross profit : 20% , Average collection period : 2 Months

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You are required to find out following information

1. Current Assets

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2. Current Liabilities
3. Average Closing stock
4. Cost of Goods sold
5. Gross profit
6. Sales

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7. Net fixed assets
8. Average debtors
9. Cash & Bank balance
10. Long term debt
11. Equity capital

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12. Reserve

OR

Q-5 From the following Trial balances of Mr.Nagaraj Prepare the Final Account for the Year Ended 31st March 2010 and the balance sheet as the that date. (14)

The following adjustments are required.

1. Closing stock amounted to Rs.60000

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2. Outstanding liabilities Wages Rs.2000 and Rent Rs.3000
3. Depreciate Land and building at 5 %, Plant and Machinery at 10 % ,office equipment and furniture and fixtures at 10 %
4. Insurance premium prepaid Rs.200
5. Provide interest on Capital at 5%
6. Raise bad and doubtful debts reserve at 5 % on Sundry Debtors.

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