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Tuesday 18 September 2012

May 2012 Bachelor of Computer Application (BCA) – Semester 3: contact us for answers at assignmentssolution@gmail.com

May 2012

Bachelor of Computer Application (BCA) – Semester 3

BC0044 – Accounting and Financial Management – 4 Credits

(Book ID: B0805)

Assignment Set – 1 (60 Marks)

Answer all the questions.

1. Journalise the following transactions: (10 Marks)

01.01.09 Bought goods for Rs.10,000

02.01.09 Purchased goods from X Rs.20,000

03.01.09 Bought goods from Y for Rs.30,000 against a current dated cheque

04.01.09 Purchased goods from Z [price list price is Rs.30,000 and trade

discount is 10%]

05.01.09 Bought goods of the list prce of Rs.1,25,000 from M less 20% trade

discount and 2% cash discount. Paid 40% of the amount by cheque

06.01.09 Returned 10% of the goods supplied by X

07.01.09 Returned 10% of the goods supplied by Y

1. Explain errors of omission and errors of commission. (10 Marks)

2. From the following balances extracted from Trial balance, prepare Trading Account.

The closing stock at the end of the period is Rs. 56000 (20 Marks)

Particulars Amount in Rs.

Stock on 1-1-2004 70700

Returns inwards 3000

Returns outwards 3000

Purchases 102000

Debtors 56000

Creditors 45000

Carriage inwards 5000

Carriage outwards 4000

Import duty on materials received from

abroad

6000

Clearing charges 7000

Rent of business shop 12000

Royalty paid to extract materials 10000

Fire insurance on stock 2000

Wages paid to workers 8000

Office salaries 10000

Cash discount 1000

Gas, electricity and water 4000

Sales 250000

3. Why wealth maximization is superior to profit maximization? (10 Marks)

4. Following are the extracts from the Trial Balance of a firm as on 31st March 20X7

Dr Cr

Sundry Debtors 2,05,000

Provision for Doubtful Debts 10,000

Provision for Discount on Debtors 1,800

Bad Debts 3,000

Discount 1,000

Additional Information:

1) Additional Bad Debts required Rs.4,000

2) Additional Discount allowed to Debtors Rs.1,000

3) Maintain a provision for bad debts @ 10% on debtors

4) Maintain a provision for discount @ 2% on debtors

Required: Pass the necessary journal entries and show the relevant accounts including final

accounts.



May 2012

Bachelor of Computer Application (BCA) – Semester 3

BC0044 – Accounting and Financial Management – 4 Credits

(Book ID: B0805)

Assignment Set – 2 (60 Marks)

Answer all the questions. Each question carries 10 marks

1. What is over capitalization? How do we know over capitalization has occurred?

2. Explain permanent and temporary working capital.

3. A. What are the assumptions of EOQ Model.?

B. Consider the following data of X Ltd. Calculate EOQ

Annual usuage = 10000 units

Fixed cost per order = Rs.150

Purchase price per unit = Rs.20

Carrying cost = 25 percent

4. Explain the objectives of cash management

5. The income statement of Vignesh Ltd is as follows:

To Opening Stock 2,00,000 By Sales 12,00,000

Purchases 8,00,000 Closing Stock 1,00,000

Direct Expenses 1,00,000

Gross Profit 2,00,000

13,00,000 13,00,000

To Admn Expenses 1,00,000 By Gross Profit 2,00,000

Selling Expenses 80,000 Profit on sale of

Investments

60,000

Non-Operating exp 40,000 Dividends received 40,000

Net Profit 80,000

3,00,000 3,00,000

Calculate the Gross Profit Ratio, Net Profit Ratio, Operating Ratio, Operating Profit Ratio and

Expense Ratio.

6. Explain the steps involved in Funds Flow statement.


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