ASSIGNMENT
DRIVE SUMMER 2016
PROGRAM MBA
SEMESTER I
SSUBJECT CODE &
NAME
MB 0041
FINANCIAL AND MANAGEMENT ACCOUNTING
BK ID B1624
CREDIT 4
MARKS 60
Q.No Question Marks Total
Marks
1 From the following particulars prepare a summarized Balance Sheet of a firm
as on 31. 03.2016 :
Fixed Assets to Net Worth 0.8 : 1
Current Ratio 3 : 1
Reserves included in Proprietors Fund 25 %
Acid Test Ratio 3: 2
Fixed Assets Rs. 8,00,000
Cash and Bank Balance Rs. 15,000
Current Liabilities Rs. 1,50,000
The firm has no Bank Overdraft
Based on above ratios prepare the Balance Sheet of a
Firm
10 10
2 Define and distinguish between Financial Accounting and Management Accounting.
Definitions of Financial and Management Accounting
Distinctions between Financial and Management
Accounting
4
6
10
3
Balance Sheets of Bhaskar and Soumya Corporation are given below :
Liabilities 31. 03. 2015 31. 03. 2016 Assets 31. 03. 2015 31. 03. 2016
Current
Liabilities
2,40,000 2,80,000 Cash 30,000 20,000
Loan from
Bhaskar
1,20,000 Book
Debts
2,50,000 2,70,000
Bank
Loan
3,20,000 2,90,000 Stock 1,90,000 1,60,000
Capital 9,60,000 10,00,000 Land 2,00,000 2,50,000
Building 3,70,000 4,40,000
________ ________ Machiner
y
4,80,000 5,50,000
15,20,000 16,90,000 15,20,000 16,90,000
During the year Bhaskar and Soumya introduced additional capital of Rs. 20,000 and
drew
Rs. 60,000.
Provision for Depreciation of Machinery – Opening Balance Rs. 2,00,000 and Closing
Balance Rs. 2,20,000. No depreciation was provided on other assets. The value of
Building was increased by Rs. 25,000 and the same was adjusted with Capital Account.
Prepare Cash Flow Statement as per AS-3 Indirect method.
From the above Balance Sheet as on 31. 03. 2015 and
31. 03. 2016, and further information provided; prepare
a Cash Flow Statement of Bhaskar and Soumya
Corporation as per As-3.
10 10
4 a) Write a note on “Schedule of Changes in Working Capital”.
b) Prepare a Schedule of changes in Working Capital from the Balance Sheets given
:
Liabilities 2014-15 2015-16 Asssets 2014-15 2015-16
Equity Share
Capital
3,00,000 4,00,000 Goodwill 1,00,000 80,000
Preference
Shares
1,50,000 1,00,000 Land and
Building
2,00,000 1,70,000
Capital
Reserve
- 20,000 Plant 80,000 2,00,000
General
Reserve
40,000 50,000 Investment 20,000 30,000
Profit & Loss
A/c
30,000 48,000 Debtors 1,40,000 1,70,000
Proposed
Dividend
42,000 50,000 Stock 77,000 1,09,000
Creditors 25,000 47,000 Bills Receivable 20,000 30,000
Bills Payable 20,000 16,000 Bank 15,000 10,000
Liability for
Expenses
30,000 36,000 Cash 10,000 8,000
Taxation
Provision
40,000 50,000 Preliminary
Expenses
15,000 10,000
6,77,000 8,17,000 6,77,000 8,17,000
a) Schedule of Changes in Working Capital
b) Prepare a Schedule of changes in Working
Capital from the Balance Sheets given
3
7
10
5 A Ltd. and B Ltd. Sell the same type of product in same type of market. Their
budgeted Profit & Loss for the year ending 2015 are as under :
A Ltd. B Ltd.
Rs. Rs. Rs. Rs.
Sales 1,50,000 1,50,000
Less : Variable Cost 1,20,000 1,00,000
Fixed Cost 15,000 35,000
1,35,000 1,35,000
Budgeted Profit 15,000 15,000
a) Calculate the BEP and (b) Margin of Safety in each business,
(c) State which business is likely to earn greater profits in conditions of
(i) heavy demand for their product
(ii) low demand for their product
a) Calculate the BEP and (b) Margin of Safety
in each business,
(c) State which business is likely to earn greater
profits in conditions of
(i) heavy demand for their product
(ii) low demand for their product
6
4
10
6 a) Distinguish between Budgetary Control and Standard Costing.
b) Particulars given :
Opening Stock of Materials - NIL
Closing Stock of Materials - 700 units
Materials purchased 4,000 units @ Rs. 2.50 each
Standard quantity of Materials required per tonne of finished product - 20 units
Standard rate of Material - Rs. 2
Finished products for the period - 100 tonnes
Calculate :
I. Material Cost Variance
II. Material Price Variance
III. Material Usage Variance
a) Budgetary Control and Standard Costing
Calculate :
I. Material Cost Variance
II. Material Price Variance
III. Material Usage Variance
4
2
2
2
10
DRIVE SUMMER 2016
PROGRAM MBA
SEMESTER I
SSUBJECT CODE &
NAME
MB 0041
FINANCIAL AND MANAGEMENT ACCOUNTING
BK ID B1624
CREDIT 4
MARKS 60
Q.No Question Marks Total
Marks
1 From the following particulars prepare a summarized Balance Sheet of a firm
as on 31. 03.2016 :
Fixed Assets to Net Worth 0.8 : 1
Current Ratio 3 : 1
Reserves included in Proprietors Fund 25 %
Acid Test Ratio 3: 2
Fixed Assets Rs. 8,00,000
Cash and Bank Balance Rs. 15,000
Current Liabilities Rs. 1,50,000
The firm has no Bank Overdraft
Based on above ratios prepare the Balance Sheet of a
Firm
10 10
2 Define and distinguish between Financial Accounting and Management Accounting.
Definitions of Financial and Management Accounting
Distinctions between Financial and Management
Accounting
4
6
10
3
Balance Sheets of Bhaskar and Soumya Corporation are given below :
Liabilities 31. 03. 2015 31. 03. 2016 Assets 31. 03. 2015 31. 03. 2016
Current
Liabilities
2,40,000 2,80,000 Cash 30,000 20,000
Loan from
Bhaskar
1,20,000 Book
Debts
2,50,000 2,70,000
Bank
Loan
3,20,000 2,90,000 Stock 1,90,000 1,60,000
Capital 9,60,000 10,00,000 Land 2,00,000 2,50,000
Building 3,70,000 4,40,000
________ ________ Machiner
y
4,80,000 5,50,000
15,20,000 16,90,000 15,20,000 16,90,000
During the year Bhaskar and Soumya introduced additional capital of Rs. 20,000 and
drew
Rs. 60,000.
Provision for Depreciation of Machinery – Opening Balance Rs. 2,00,000 and Closing
Balance Rs. 2,20,000. No depreciation was provided on other assets. The value of
Building was increased by Rs. 25,000 and the same was adjusted with Capital Account.
Prepare Cash Flow Statement as per AS-3 Indirect method.
From the above Balance Sheet as on 31. 03. 2015 and
31. 03. 2016, and further information provided; prepare
a Cash Flow Statement of Bhaskar and Soumya
Corporation as per As-3.
10 10
4 a) Write a note on “Schedule of Changes in Working Capital”.
b) Prepare a Schedule of changes in Working Capital from the Balance Sheets given
:
Liabilities 2014-15 2015-16 Asssets 2014-15 2015-16
Equity Share
Capital
3,00,000 4,00,000 Goodwill 1,00,000 80,000
Preference
Shares
1,50,000 1,00,000 Land and
Building
2,00,000 1,70,000
Capital
Reserve
- 20,000 Plant 80,000 2,00,000
General
Reserve
40,000 50,000 Investment 20,000 30,000
Profit & Loss
A/c
30,000 48,000 Debtors 1,40,000 1,70,000
Proposed
Dividend
42,000 50,000 Stock 77,000 1,09,000
Creditors 25,000 47,000 Bills Receivable 20,000 30,000
Bills Payable 20,000 16,000 Bank 15,000 10,000
Liability for
Expenses
30,000 36,000 Cash 10,000 8,000
Taxation
Provision
40,000 50,000 Preliminary
Expenses
15,000 10,000
6,77,000 8,17,000 6,77,000 8,17,000
a) Schedule of Changes in Working Capital
b) Prepare a Schedule of changes in Working
Capital from the Balance Sheets given
3
7
10
5 A Ltd. and B Ltd. Sell the same type of product in same type of market. Their
budgeted Profit & Loss for the year ending 2015 are as under :
A Ltd. B Ltd.
Rs. Rs. Rs. Rs.
Sales 1,50,000 1,50,000
Less : Variable Cost 1,20,000 1,00,000
Fixed Cost 15,000 35,000
1,35,000 1,35,000
Budgeted Profit 15,000 15,000
a) Calculate the BEP and (b) Margin of Safety in each business,
(c) State which business is likely to earn greater profits in conditions of
(i) heavy demand for their product
(ii) low demand for their product
a) Calculate the BEP and (b) Margin of Safety
in each business,
(c) State which business is likely to earn greater
profits in conditions of
(i) heavy demand for their product
(ii) low demand for their product
6
4
10
6 a) Distinguish between Budgetary Control and Standard Costing.
b) Particulars given :
Opening Stock of Materials - NIL
Closing Stock of Materials - 700 units
Materials purchased 4,000 units @ Rs. 2.50 each
Standard quantity of Materials required per tonne of finished product - 20 units
Standard rate of Material - Rs. 2
Finished products for the period - 100 tonnes
Calculate :
I. Material Cost Variance
II. Material Price Variance
III. Material Usage Variance
a) Budgetary Control and Standard Costing
Calculate :
I. Material Cost Variance
II. Material Price Variance
III. Material Usage Variance
4
2
2
2
10
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