Download JNTUA (JNTU Anantapur) MBA (Master of Business Administration) 2019 June Supplementary 1st Sem 17E00104 Financial Accounting for Managers Previous Question Paper
MBA & MBA (Finance) I Semester Supplementary Examinations June 2019
FINANCIAL ACCOUNTING FOR MANAGERS
(For students admitted in 2017 & 2018 only)
Time: 3 hours Max. Marks: 60
All questions carry equal marks
*****
SECTION ? A
(Answer the following: 05 X 10 = 50 Marks)
1 Discuss the uses of accounting. What are its limitations?
OR
2 Explain the steps involved in the double entry system. What are its advantages and limitations?
3 Enter the following transactions in proper subsidiary books and post the same in the relevant
ledger accounts.
2003
Aug
Particulars
Amount
(Rs)
1 Bought goods from Ganga 2,500
2 Returned goods to Yamuna 150
5 Yamuna sold goods to us 1,500
8 Krishna purchased goods from us 1,200
11 Received goods returned by Kaveri 150
13 Returned goods to Ganga 100
17 Sold goods to Ponni 800
22 Purchased goods from Sindhu 900
27 Returned goods to Yamuna 150
OR
4 (a) Differentiate between journal and ledger.
(b) What are the errors disclosed by the trial balance?
5 The stock of a material as on 1
st
April 1998 was 200 units at Rs.2 each. The following purchases
and issues were made subsequently. Prepare stores ledger account showing how the value of
the issues would be recorded under:
(i) FIFO and
(ii) LIFO methods.
1998 April 5 purchases 100 units at Rs.2.20 each.
10 purchases 150 units at Rs.2.40 each.
20 purchases 180 units at Rs.2.50 each.
2 issues 150 units
7 issues 100 units
12 issues 100 units
28 issues 200 units
OR
6 Differentiate between straight line and diminishing balance methods of depreciation.
Contd. in page 2
Page 1 of 3
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Code: 17E00104
MBA & MBA (Finance) I Semester Supplementary Examinations June 2019
FINANCIAL ACCOUNTING FOR MANAGERS
(For students admitted in 2017 & 2018 only)
Time: 3 hours Max. Marks: 60
All questions carry equal marks
*****
SECTION ? A
(Answer the following: 05 X 10 = 50 Marks)
1 Discuss the uses of accounting. What are its limitations?
OR
2 Explain the steps involved in the double entry system. What are its advantages and limitations?
3 Enter the following transactions in proper subsidiary books and post the same in the relevant
ledger accounts.
2003
Aug
Particulars
Amount
(Rs)
1 Bought goods from Ganga 2,500
2 Returned goods to Yamuna 150
5 Yamuna sold goods to us 1,500
8 Krishna purchased goods from us 1,200
11 Received goods returned by Kaveri 150
13 Returned goods to Ganga 100
17 Sold goods to Ponni 800
22 Purchased goods from Sindhu 900
27 Returned goods to Yamuna 150
OR
4 (a) Differentiate between journal and ledger.
(b) What are the errors disclosed by the trial balance?
5 The stock of a material as on 1
st
April 1998 was 200 units at Rs.2 each. The following purchases
and issues were made subsequently. Prepare stores ledger account showing how the value of
the issues would be recorded under:
(i) FIFO and
(ii) LIFO methods.
1998 April 5 purchases 100 units at Rs.2.20 each.
10 purchases 150 units at Rs.2.40 each.
20 purchases 180 units at Rs.2.50 each.
2 issues 150 units
7 issues 100 units
12 issues 100 units
28 issues 200 units
OR
6 Differentiate between straight line and diminishing balance methods of depreciation.
Contd. in page 2
Page 1 of 3
Code: 17E00104
7 From the following profit and loss account and balance sheet relating to XYZ co ltd as on 31
st
March 2003,
Particulars Rs. Particulars Rs.
To opening stock
To purchases
To wages
To gross profit c/d
3,000
1,20,000
7,000
70,000
By Net sales
By closing stock
1,95,000
5,000
2,00,000 2,00,000
To administrative expenses
To selling and distribution expenses
To loss on sale of fixed assets
To net profit
20,000
15,000
5,000
40,000
By gross profit b/d
By dividend received
10,000
70,000
80,000 80,000
Balance sheet as on March 31
st
March 2003
Liabilities Rs. Assets Rs.
Equity share capital
(5,000 equity shares of Rs.100 each)
General reserve
Profit and loss account
Sundry creditors
5,00,000
50,000
70,000
80,000
Land
Building
Plant and machinery
Stock
Debtors
Bank balance
1,50,000
2,00,000
2,00,000
80,000
50,000
20,000
7,00,000 7,00,000
You are required to calculate the following: (i) Gross profit ratio. (ii) Operating ratio & operating
profit ratio. (iii) Net profit to capital employed ratio. (iv) Current ratio & liquid ratio. (v) Stock
turnover ratio.
OR
8 Define ?ratio?. Explain its uses, merits and demerits.
9 Discuss the steps involved in the preparation of a fund flow statement.
OR
10 From the balance sheets of XYA co ltd., prepare a cash flow statement.
Capital & liabilities 2002 2003 Assets 2002 2003
Equity share capital
Preference share
Capital
General reserve
Profit & Loss a/c
Proposed dividend
Trade creditors
Bills payable
Provision for taxation
15,000
7,500
2,000
1,500
2,100
2,750
1,000
2,000
20,000
5,000
3,500
2,400
2,500
4,150
800
2,500
Good will
Land &
Buildings
Machinery
Trade debtors
Stock
Bills receivable
Cash in hand
Cash at bank
5,750
10,000
4,000
8,000
3,850
1,000
750
500
4,500
8,500
10,000
10,000
5,450
1,500
500
400
33,850 40,850 33,850 40,850
Additional information:
(i) Depreciation on machinery of jRs.500 during the 2003 has to be provided.
(ii) Depreciation of land & building of Rs.1,000 during the year 2003.
(iii) An interim dividend of Rs.1,000 was paid during the year 2003.
(iv) Income tax Rs.1,750 was paid during the year 2003.
Contd. in page 3
Page 2 of 3
FirstRanker.com - FirstRanker's Choice
Code: 17E00104
MBA & MBA (Finance) I Semester Supplementary Examinations June 2019
FINANCIAL ACCOUNTING FOR MANAGERS
(For students admitted in 2017 & 2018 only)
Time: 3 hours Max. Marks: 60
All questions carry equal marks
*****
SECTION ? A
(Answer the following: 05 X 10 = 50 Marks)
1 Discuss the uses of accounting. What are its limitations?
OR
2 Explain the steps involved in the double entry system. What are its advantages and limitations?
3 Enter the following transactions in proper subsidiary books and post the same in the relevant
ledger accounts.
2003
Aug
Particulars
Amount
(Rs)
1 Bought goods from Ganga 2,500
2 Returned goods to Yamuna 150
5 Yamuna sold goods to us 1,500
8 Krishna purchased goods from us 1,200
11 Received goods returned by Kaveri 150
13 Returned goods to Ganga 100
17 Sold goods to Ponni 800
22 Purchased goods from Sindhu 900
27 Returned goods to Yamuna 150
OR
4 (a) Differentiate between journal and ledger.
(b) What are the errors disclosed by the trial balance?
5 The stock of a material as on 1
st
April 1998 was 200 units at Rs.2 each. The following purchases
and issues were made subsequently. Prepare stores ledger account showing how the value of
the issues would be recorded under:
(i) FIFO and
(ii) LIFO methods.
1998 April 5 purchases 100 units at Rs.2.20 each.
10 purchases 150 units at Rs.2.40 each.
20 purchases 180 units at Rs.2.50 each.
2 issues 150 units
7 issues 100 units
12 issues 100 units
28 issues 200 units
OR
6 Differentiate between straight line and diminishing balance methods of depreciation.
Contd. in page 2
Page 1 of 3
Code: 17E00104
7 From the following profit and loss account and balance sheet relating to XYZ co ltd as on 31
st
March 2003,
Particulars Rs. Particulars Rs.
To opening stock
To purchases
To wages
To gross profit c/d
3,000
1,20,000
7,000
70,000
By Net sales
By closing stock
1,95,000
5,000
2,00,000 2,00,000
To administrative expenses
To selling and distribution expenses
To loss on sale of fixed assets
To net profit
20,000
15,000
5,000
40,000
By gross profit b/d
By dividend received
10,000
70,000
80,000 80,000
Balance sheet as on March 31
st
March 2003
Liabilities Rs. Assets Rs.
Equity share capital
(5,000 equity shares of Rs.100 each)
General reserve
Profit and loss account
Sundry creditors
5,00,000
50,000
70,000
80,000
Land
Building
Plant and machinery
Stock
Debtors
Bank balance
1,50,000
2,00,000
2,00,000
80,000
50,000
20,000
7,00,000 7,00,000
You are required to calculate the following: (i) Gross profit ratio. (ii) Operating ratio & operating
profit ratio. (iii) Net profit to capital employed ratio. (iv) Current ratio & liquid ratio. (v) Stock
turnover ratio.
OR
8 Define ?ratio?. Explain its uses, merits and demerits.
9 Discuss the steps involved in the preparation of a fund flow statement.
OR
10 From the balance sheets of XYA co ltd., prepare a cash flow statement.
Capital & liabilities 2002 2003 Assets 2002 2003
Equity share capital
Preference share
Capital
General reserve
Profit & Loss a/c
Proposed dividend
Trade creditors
Bills payable
Provision for taxation
15,000
7,500
2,000
1,500
2,100
2,750
1,000
2,000
20,000
5,000
3,500
2,400
2,500
4,150
800
2,500
Good will
Land &
Buildings
Machinery
Trade debtors
Stock
Bills receivable
Cash in hand
Cash at bank
5,750
10,000
4,000
8,000
3,850
1,000
750
500
4,500
8,500
10,000
10,000
5,450
1,500
500
400
33,850 40,850 33,850 40,850
Additional information:
(i) Depreciation on machinery of jRs.500 during the 2003 has to be provided.
(ii) Depreciation of land & building of Rs.1,000 during the year 2003.
(iii) An interim dividend of Rs.1,000 was paid during the year 2003.
(iv) Income tax Rs.1,750 was paid during the year 2003.
Contd. in page 3
Page 2 of 3
Code: 17E00104
SECTION ? B
(Compulsory question, 01 X 10 = 10 Marks)
11 Case Study:
The following trial balance have been taken out from the books of XYZ as on 31
st
December
2005.
Dr. Cr.
Rs. Rs.
Plant and machinery 100,000
Opening stock 60,000
Purchases 160,000
Building 170,000
Carriage inward 3,400
Carriage outward 5,000
Wages 32,000
Sundry debtors 100,000
Salaries 24,000
Furniture 36,000
Trade expense 12,000
Discount on sales 1,900
Advertisement 5,000
Bad debts 1,800
Drawings 10,000
Bills receivable 50,000
Insurance 4,400
Bank balances 20,000
Sales 480,000
Interest received 2,000
Sundry creditors 40,000
Bank loan 100,000
Discount on purchases 2,000
Capital 171,500
795,500 795,000
Closing stock is valued at Rs.90,000
You are required to prepare the trading and profit and loss account of the business for the year
ended 31.12.2005 and a balance sheet as at that date.
*****
Page 3 of 3
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This post was last modified on 27 July 2020