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    15-Mca-Nr-Accounting and Financial Management

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    SRINIVASA RAO GANTA
    This document contains 8 questions for an Accounting and Financial Management exam. The questions cover topics such as accounting conventions, preparing financial statements from a trial balance with adjustments, cost-volume-profit analysis, ratio analysis, standard costing variances, budget preparation with different activity levels, capital budgeting using net present value, and short notes on management information systems development, the payback method, and cash budgeting. Students are instructed to answer any 5 of the 8 questions.

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    15-Mca-Nr-Accounting and Financial Management

    Uploaded by

    SRINIVASA RAO GANTA
    2K views4 pages
    This document contains 8 questions for an Accounting and Financial Management exam. The questions cover topics such as accounting conventions, preparing financial statements from a trial balance with adjustments, cost-volume-profit analysis, ratio analysis, standard costing variances, budget preparation with different activity levels, capital budgeting using net present value, and short notes on management information systems development, the payback method, and cash budgeting. Students are instructed to answer any 5 of the 8 questions.

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    15-mca-nr-accounting and financial management

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    This document contains 8 questions for an Accounting and Financial Management exam. The questions cover topics such as accounting conventions, preparing financial statements from a trial balance with adjustments, cost-volume-profit analysis, ratio analysis, standard costing variances, budget preparation with different activity levels, capital budgeting using net present value, and short notes on management information systems development, the payback method, and cash budgeting. Students are instructed to answer any 5 of the 8 questions.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2K views4 pages

    15-Mca-Nr-Accounting and Financial Management

    Uploaded by

    SRINIVASA RAO GANTA
    This document contains 8 questions for an Accounting and Financial Management exam. The questions cover topics such as accounting conventions, preparing financial statements from a trial balance with adjustments, cost-volume-profit analysis, ratio analysis, standard costing variances, budget preparation with different activity levels, capital budgeting using net present value, and short notes on management information systems development, the payback method, and cash budgeting. Students are instructed to answer any 5 of the 8 questions.

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    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    Code No: NR-15/MCA NR

    MCA-I Semester Supplementary Examinations,


    July/Aug 2008.

    ACCOUNTING AND FINANCIAL MANAGEMENT

    Time: 3hours Max. Marks: 60

    Answer any FIVE questions


    All questions carry equal marks
    ---

    1.a) How do you explain accounting as a system for decision making?


    b) What are the accounting conventions that facilitate the process of
    accounting?
    2. Shri patit Bansali submitted to you the following trail balance, which
    he has not been able to agree rewrite the trail balance and prepare
    trading and profit and loss account for the year end 31-12-2004 and a
    balance sheet as on that date after giving effect to the under mentioned
    adjustments.

    Dr. Rs. Cr. Rs.


    Capital - 16 ,000
    Opening stock 17, 500 -
    Closing stock - 18, 790
    Drawings 3, 305 -
    Returns inward - 550
    Carriage inward 1, 240 -
    Deposit with x - 1,400
    Returns outward 840 -
    Carriage outward - 725
    Rent paid 800 -
    Rent outstanding 150 -
    Purchases 13,000 -
    Sundry debitors 5,000 -
    Sundry creditors - 4,000
    Furniture 1,500 -
    Sales - 29 ,000
    Wages 850 -
    Cash 1,370 -
    Good will 1,800 -
    Advertisement 950 -
    48, 305 70 ,465
    Contd…2
    Code No: NR-15/MCA ::2::

    Adjustments:

    Write off Rs. 600 as bad debit and make reserve per bad debits on sundry
    debitors at 5%. Stock valued at Rs. 2,000 was destroyed by fire on 25th
    December 2006, but insurance company admitted a claim for Rs. 1,500 only
    and paid the sum in January 2005.
    Depreciate furniture by 10%.

    3. The cost per unit of the three products A, B and C of a concern is as


    follows:

    A B C
    Rs. Rs. Rs.
    Direct Materials 10 8 9
    Direct labour 6 7 6
    Variable expenses 4 5 3
    Fixed expenses 3 3 2
    ______ _____ _______
    Total cost 23 23 20
    Profit 9 7 6
    ______ ______ ______
    Selling cost 32 30 26
    ________ ______ _______
    Number of units produced 10 000 5 000 8 000

    Production arrangements are such that if one product is given up the


    production of the others can be raised by 50%. The directors propose that
    C should be given up because the contribution in that case is lowest. Do
    you agree?

    4. ‘Ratio analysis is the only tool for analysing and interpreting financial
    statements’. Do you agree? Support your answer.

    Contd…3
    Code No: NR-15/MCA ::3::

    5. Vinak Ltd. Produces an article by blending two basic new raw


    materials. It operates a standard costing system and the following
    standards have been set for raw materials.

    Materials Standard Mix Standard price


    A 40% Rs. 4.00
    B 60% Rs. 3.00

    The standard loss in processing is 15%.

    During April, 1980 the company produced 1,700 kg of total output.

    The position of stock and purchases for the month of April, 1980 are as
    under:

    Materials Stock on Stock on Purchased during


    1-4-80 30-4-80 April, 1980
    Kg Kg Kg Cost Rs.
    A 35 5 800 3, 400
    B 40 50 1 ,200 3, 000

    Calculate the following variances:


    i) Materials price variance
    ii) Material usage variance
    iii) Material yield variance
    iv) Material Mix variance
    v) Total Material cost variance.

    6. With the following data for a 60 percent activity, prepare a budget for
    production at 80 percent and 100 percent activity:

    Production at 60 percent activity-600 units.


    Materials Rs. 100 per unit
    Labour Rs. 40 per unit
    Expenses Rs. 10 per unit
    Factory Expenses Rs. 40 000 (40 percent fixed)
    Administration Expenses Rs. 30 000 (60 percent fixed).

    Contd…4
    Code No: NR-15/MCA ::4::

    7. There are two projects x and y. x requires an investment of Rs. 26 000


    white y requires an investment of Rs. 38 000. The cost of capital is
    12%, on the basis of the following cash inflows and present value of
    Re. 1 at 12% you are required to state which project should be
    accepted.

    Year Cash Inflows Present value


    Project x Rs. Project Y Rs. of Re.1 at
    12%
    1 9,000 8,000 0.893
    2 7,000 10, 000 0.797
    3 6,000 12, 000 0.712
    4 5,000 14, 000 0.636
    5 4,000 8 ,000 0.567
    6 4,000 2,000 0.507
    7 3000 16, 000 0.452
    8 3,000 - 0.404
    9 3,000 - 0.361
    10 3,000 - 0.322

    8. Write short notes on only Two of the following:


    a) Steps in MIS development
    b) Pay back method
    c) Cash budget.

    *****

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