Accounting and Financial Management Question Paper of MCA Semester 1, Download Question Paper 7

Roll No…..

Total No. of Questions: 09

Paper ID [B0103]

MCA (Sem.-1^st)

ACCOUNTING & FINANCIAL MANAGEMENT

Subject Code: MCA-103 (N2)

Time: 3 Hrs.                                                                           Max. Marks: 60

Instruction to Candidates:

1.     Attempt any One question from each Sections- A, B, C & D.

2.     Section-E is Compulsory.

3.     Use of Non-programmable Scientific Calculator is allowed.

SECTION-A

1.     Explain the scope, need and limitations of accounting.

2.     What do you mean by accounting principles? Explain accounting concepts and conventions?

SECTION-B

3.     (a) The balance sheet of Tom & Jerry Manufacturers Ltd. as on 31^st March,  2007 is as given below:

Particulars	2006 (Rs.)	2007 (Rs.)
Liabilities
Equity share capital	20,00,000	20,00,000
Reserves and surpluses	6,00,000	8,60,000
12% debentures	5,00,000	7,00,000
Accounts payable	2,70,000	3,60,000
Bills payable	70,000	1,50,000
Expenses payable	45,000	30,000
Accumulated depreciation
-Building	2,85,000	3,25,000
-Machinery	45,000	75,000
Assets
Goodwill	50,000
Land	8,00,000	9,50,000
Building	11,85,000	14,55,000
Machinery	1,95,000	2,45,000
Marketable securities	1,50,000	6,50,000
Stock	5,60,000	5,30,000
Account receivables	4,90,000	3,10,000
Bills receivable	2,80,000	60,000
Pre-paid expenses	80,000	40,000
Cash at Bank	25,000	1,90,000
Cash in Hand	1,10,000	70,000
Total	34,85,000	41,00,000

Prepare the schedule for changes in working capital of Tom & Jerry Manufactures Ltd.

(b) What are the limitations of ratio analysis?

4.  What do you mean by financial management? What are the uses and limitations of ratio analysis?

SECTION-C

5. What do you mean by marginal costing? What are the assumptions, advantages and disadvantages of marginal costing?

6. PCT. Ltd. provides following information for the year ended 31^st March, 2008

Normal capacity-2000 units

Production and sales-2000units

Selling price per unit- Rs. 10

Direct material- Rs. 2,000

Direct material- Rs. 2,000

Direct expenses- Rs. 1,600

Factory overheads (15% variable)- Rs. 4,000

Office and administration expenses (80% fixed)- Rs. 4,000

Selling and distribution expenses (75% fixed)- Rs. 4,000.

You are required to calculate the following:

(a)  Profit volume ratio.

(b) Break-even point (in Rs. And units)

(c)  Margin of safety (in Rs. And units)

SECTION-D

7. Discuss the significance of computers in the preparation of final accounts. Also describe that how computerized accounting is different from manual accounting. What are the main limitations of computerized accounting?

8. Enlist main modules of computerized accounting? Discuss any three modules in detail.  

SECTION-E

9.

(a) Double entry system.

(b) Ledger.

(c) Bookkeeping vs. accounting.

(d) Net worth.

(e) Debt service coverage ratio.

(f) Liquid ratio.

(g) Variance analysis.

(h) Standard costing.

(i) Profit and loss account.

(j) Contribution.