Roll No…….
Total No. of Questions: 09
MCA (Sem.-1st)
ACCOUNTING
AND FINANCIAL MANAGEMENT
SUBJECT
CODE: MCA-104(2012 Batch)
Paper
ID: [B0131]
Time: 3 Hrs. Max.
Marks: 100
Instruction to Candidates:
1. Section-A, B, C, & D contains Two questions each carrying
Twenty marks each and students has to attempt any One question from each
Section.
2. Section-E is Compulsory carrying Twenty marks in all.
3. Use of non-programmable scientific calculator is allowed.
SECTION-A
1.
What is Double Entry system
of book keeping? Explain the rule for debiting and crediting the account heads.
Also briefly discuss the books of accounts required to be maintained as per
double entry system of book keeping.
2.
Prepare final accounts from
the following balances extracted from the books of M/s Tunip as on March 31,2012:
Debit
Balances
|
Amount Rs.
|
Credit
balances
|
Amount Rs.
|
Furniture
|
1,20,000
|
Capital
|
4,25,000
|
Building
|
2,05,000
|
Sales
|
2,72,000
|
Salary
|
30,000
|
Interest Received
|
5,000
|
Purchases
|
1,10,000
|
Creditors
|
15,000
|
Wages
|
30,000
|
Bank Loan
|
13,000
|
Depreciation
|
10,000
|
|
|
Rent Paid
|
12,000
|
|
|
Fuel
|
4,000
|
|
|
Tax paid
|
6,000
|
|
|
Electricity Charges
|
5,000
|
|
|
Opening Stock
|
10,000
|
|
|
Bad Debts
|
5,000
|
|
|
Machinery
|
1,80,000
|
|
|
Return Inwards
|
3,000
|
|
|
|
7,30,000
|
|
7,30,000
|
Prepare trading and profit and loss account and balance sheet as on
March 31, 2012. Stock in hand on March 31, 2012 was Rs. 10,000.
SECTION-B
3.
What is a cash flow
statement? Explain the advantages of cash flow statement.
4.
From the following
Information, you are required to calculate Current Ratio, Gross Profit Ratio,
Return on Investment, Return on Equity and Debit/Equity for X & Sons:
Trading and profit and loss account of X & Sons
For the year ending 31-03-2012
Particulars
|
Amount (Rs.)
|
Particulars
|
Amount(Rs.)
|
To Opening Stock
|
10,000
|
By Sales
|
35,500
|
To Purchases
|
30,500
|
By Closing Stock
|
30,000
|
To Wages
|
5,000
|
|
|
To Gross Profits
|
20,000
|
|
|
Total
|
65,500
|
Total
|
65,500
|
To Depreciation (Machinery)
|
2,000
|
By Gross Profits
|
20,000
|
To salary (one month’s
salary is outstanding)
|
6,000
|
By Interest Received on
Investments
|
15,000
|
To interest on loan
|
1000
|
|
|
To Net Profits
|
26,000
|
|
|
Total
|
35,000
|
Total
|
35,000
|
Balance sheet of
X & Sons
As on 31-03-2012
Liabilities
|
Amount
(Rs.) 2012
|
Assets
|
Amount (Rs.)
2012
|
Capital
|
1,20,000
|
Building
|
2,50,000
|
Profit and Loss
|
1,26,000
|
Machinery
|
1,45,000
|
Creditors
|
55,000
|
Furniture
|
50,000
|
Bank Loan
|
1,94,000
|
Debtors
|
20,000
|
|
|
Inventory
|
10,000
|
|
|
Cash in hand
|
20,000
|
|
4,95,000
|
|
4,95,000
|
SECTION-C
5. What
is marginal costing? Also explain managerial applications of marginal costing?
6. Write
a note on the importance and basic principles of costing.
SECTION-D
7. Write
a note on most widely used computer programs for accounting.
8. What
is computer based audit? Explain the advantages and disadvantages of computer
based accounting.
SECTION-E
9.
Write short note
on the following:
(i)
Business Entity
Concept
(ii)
Acid test Ratio
(iii)
Fund Flow
Statement
(iv)
Journal
(v)
Profit Volume
ratio
(vi)
Artificial
Personal Accounts
(vii)
Standard Costing
(viii)
Budgetary
Control
(ix)
Financing
Activities
(x)
Trial Balance
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