Download BU (Bangalore University) MBA 1st Semester 2019 Feb Accounting Managers Question Paper

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Time: 3 Hours

I Semester M.B.A. Degree Examination, Feb. 2019

(CBCS)

MANAGEMENT

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Paper-1.3: Accounting for Managers

Max. Marks: 70

SECTION - A (5x5=25)

Answer any five:

1. Define the term Depreciation and state the factors which provides for Depreciation.

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2. Explain the importance of Human Resource Accounting.
3. Journalise the following transactions of Ram and Sons for the year 2016. June 1 Business started with ? 1,00,000 and cash deposited in bank ?60,000 June 2 Machinery purchased from Karan for cash of 20,000 June 3 Furniture purchased from Mr. A on credit of ?10,000 June 6 Goods sold to Rohit at 9,000 June 9 Goods returned by Rohit of 2,500 June 13 Sold goods for cash of ? 15,000 June 14 Bought goods for cash of? 12,000 June 16 Cash received from Rohit of ?4,000 June 20 Cash paid to Karim of ?7,000. June 24 Cash withdrawn from bank of ?18,000 June 27 Paid for advertisement at ? 4,200 June 28 Paid rent of ? 1,200 June 30 Office stationery purchased for 2,000 June 30 Cash withdrawn from bank for his personal use ?3,000.
4. The Fairdeal Granary was not maintaining a perpetual inventory system for its stocks until recently. Only physical inventory was taken at the end of each month. The physical inventory at the end of December, 2014, showed 200 bags of fine rice at ?212.25 per bag. Following purchases were made in January, 2015: 3rd 400 bags at ?218.00 per bag 10th 900 bags at ?223.50 per bag 15th 400 bags at ?220.00 per bag Following issues are made 28th 700 bags 30th 300 bags You are required to calculate the value of stock on 31 January, 2015 according to : a) First-in-First-out b) Last-in-First-out
5. On 1st April 2000, a firm purchased machinery for?2,00,000. On 1st October, 2000, Additional machinery costing ? 1,00,000 was purchased. On 1st October, 2001, the machinery purchased on 1 April, 2000 having become obsolete, was sold off at ?90,000. On 1st October, 2002, new machinery was purchased for ?2,50,000 while the machinery purchased on 1st October, 2000 was sold for ?84,000 on the same day. The firm provides depreciation on its machinery @ 10% p.a. on the original cost. It closes its books of accounts on 31 March each year. Show machinery account for the period of three accounting years ending 31 March, 2002.
6. From the information given below prepare flexible budget at 60 and 80 per cent capacities and fix the total overhead rates as a per cent on direct wages at these capacities. Variable overheads:

   	At 60% Capacity ?	At 75% Capacity ?	At 80% Capacity ?
   Indirect materials		7,500
   Indirect labour		22,500

   Semi-variables overheads:

   Electricity (40% fixed, 60% variable)		37,500
   Repairs and maintenance (80% fixed, 20% variable)		3,750

   Fixed overheads:

   Salaries		1,00,000
   Insurance		5,000
   Depreciation		25,000

   Estimated direct wages, ?40,250 at 75% capacity.

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7. Mention the branches of Accounting and discuss briefly the scope and importance of each.

SECTION-B (3×10=30)

Answer any three of the following questions, each question carries ten marks.

8. Explain the trends of accounting with the concepts: i) IFRS and ii) Forensic accounting.
9. From the following information of a company, prepare the Balance Sheet if its sales are ?28,00,000.

   Sales to net worth	2.1 times
   Current debt to net worth	40%
   Total debt to net worth	72%
   Current ratio	2.7 times
   Net sales of inventory	4.2 times
   Average collection period	60 days
   Fixed assets to net worth	50.2%

   Net worth
   Long-term debt
   Current debt
   Total

   Balance Sheet
   Fixed Assets
   Cash
   Stock
   Sundry debtors
   Total

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10. Ms. Jyothi of Star Oils Limited has collected the following information for the preparation of cash flow statement for the year ending 31-3-2015: (? in lakhs)

    Net Profit	25,000
    Dividend (including dividend tax) paid	8,535
    Provision for Income tax	5,000
    Income tax paid during the year	4,248
    Loss on Sale of Assets (net)	40
    Book Value of the Assets sold	185
    Depreciation charged to Profit and Loss Account	20,000
    Amortisation of Capital Grant	6
    Profit on Sale of Investments	100
    Carrying amount of Investments sold	27,765
    Interest Income on Investments received during the year	2,506
    Interest Expenses	10,000
    Interest paid during the year	10,520
    Increase in Working Capital (excluding Cash and Bank balance)	56,075