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M.B.A. Degree Examination, 2010: 120. Financial and Management Accounting

This document is an exam paper for an MBA program containing multiple sections and questions. Section A contains short answer questions about topics like management accounting duties, current liabilities, break-even point, journal entries, cash flow statements, and intangible assets. Section B requires longer explanations for questions on current ratio, advantages of the funds flow statement, and budgetary control. Section C has a single long question requiring preparation of a funds flow statement. Section D is a compulsory question involving preparation of trading, profit and loss statements and a balance sheet from a trial balance. The document tests students' understanding of key financial and management accounting concepts.

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Abhimita Gaine
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91 views6 pages

M.B.A. Degree Examination, 2010: 120. Financial and Management Accounting

This document is an exam paper for an MBA program containing multiple sections and questions. Section A contains short answer questions about topics like management accounting duties, current liabilities, break-even point, journal entries, cash flow statements, and intangible assets. Section B requires longer explanations for questions on current ratio, advantages of the funds flow statement, and budgetary control. Section C has a single long question requiring preparation of a funds flow statement. Section D is a compulsory question involving preparation of trading, profit and loss statements and a balance sheet from a trial balance. The document tests students' understanding of key financial and management accounting concepts.

Uploaded by

Abhimita Gaine
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 6

Total No.

of pages :

6355

Register No.

Name of the Candidate:

M.B.A. DEGREE EXAMINATION, 2010


(FIRST YEAR)
(PAPER II)

120. FINANCIAL AND MANAGEMENT ACCOUNTING


December)

(Time: 3 Hours
Maximum: 75 Marks
SECTION A
Answer any FIVE questions
All questions carry equal marks

(53=15)

1. a) State any three duties of Management Accountant.


b) What are current liabilities?
c) What is Break-Even Point?
d) State the rules for journalising.
e) What is Cash Flow statement?
f) What are intangible assets?
g) What is meant by Working Capital?
h) What is a Balance Sheet?
SECTION B
Answer any THREE questions

(310=30)

2. Explain the significance of current ratio.


3. What are the advantages of Funds Flow statement?
4. What is budgetary control? Explain.
5. List the various usual items in the Trading account, Profit & Loss a/c and the
Balance Sheet.
6. Explain comparative Balance Sheet and Comparative Income Statement.

2
SECTION C
Answer any ONE question

(115=15)

7. From the following Balance Sheet of SRI RAM Ltd., prepare a funds flow statement for
the year ended 30th June 2010.
Balance Sheet as on 30th June
Liabilities
2009
2010
Assets
2009
2010
Rs.
Rs.
Rs.
Rs.
Share Capital
2,00,000
2,50,000 Goodwill
70,000
50,000
Debentures
50,000
1,50,000 Machinery
3,10,000
4,40,000
General Reserve
70,000
1,20,000 Investments
30,000
80,000
Profit & Loss a/c
50,000
60,000 Discount on
Depreciation
90,000
1,30,000 Issue of
debentures
5,000
-Creditors
75,000
1,10,000 Bank
20,000
30,000
Bank O.D.
10,000
15,000 Debtors
70,000
1,80,000
Stock
40,000
55,000
5,45,000
8,35,000
5,45,000
8,35,000
During the year investments costing Rs.30,000 were sold for Rs.27,000.
A new machine was bought for Rs.40,000 and the payment was made in fully paid
up shares.
8. From the following data, calculate the Break-Even Point.
Rs.
Selling price per unit
20
Direct material cost per unit
8
Direct labour cost per unit
2
Direct expenses per unit
2
Overheads per unit
3
Fixed overheads (total
20,000
If sales are 20% above the Break Even Point, determine the net profit.
9. Project A initially costs Rs.25,000. It generates the following cash inflows
Year
Cash inflows
Present Value
Rs.
of Re.1 at 10%
1
9,000
0.909
2
8,000
0.826
3
7,000
0.751
4
6,000
0.683
5
5,000
0.621
The company has a target of return on capital at 10%. Suggest whether the
project should be accepted or not.

3
SECTION D
Compulsory

(115=15)

7. From the following Trial Balance of Mr.Narendran, prepare Trading, Profit & Loss
account as on 31st December 2009 and a Balance Sheet as at that date.
Debit Balances
Narendrans Drawings a/c
Purcahases
Freehold property
Plant & Machinery
Salaries
Office expenses
Furniture & Fixtures
Discounts a/c
Sundry Debtors
Loan to Dass @ 5%
Cash at Bank
Stock (1st Jan 2009)
Wages
Postage
Insurance
Gas and Fuel
Bad debts
Office Rent
Freight & Duty
Loose Tools
Factory lighting
Cash on hand

Trial Balances
Rs.
Credit Balances
12,000
90,000
60,000
1,00,000
12,000
2,500

Narendrans Capital a/c


Purchases Returns
Sales
Bills payable
Sundry creditors
Provisions for doubtful
debts
5,000 Interest on loan to Das
1,200
26,600
40,000
26,600
35,000
32,000
1,400
1,600
2,700
600
2,600
9,000
2,000
1,600
2,400
4,66,800

Rs.
2,08,000
1,000
2,11,000
5,000
40,000
800
1000

4,66,800

Adjustments:
Closing Stock 31st December 2009 Rs.66000
Wages Rs.1,600 and salaries Rs.600 were outstanding
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6
______

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