Get fully solved assignment. Buy online from website
online store
or
plz drop a mail with your sub code
we will revert you within 2-3 hour or immediate
Charges rs
125/subject and rs 700/semester only.
if urgent then call us
on 08791490301, 08273413412
|
MB0041- FINANCIAL AND MANAGEMENT ACCOUNTING
Spring 2015
|
Q1. Analyze the following
transaction under traditional approach.
18.1.2011 Received a cheque from
a customer, Sanjay at 5 p.m. Rs.20,000
19.1.2011 Paid Ramu by cheque
Rs.1,50,000
20.1.2011 Paid salary Rs. 30,000
20.1.2011 Paid rent by cheque Rs.
8,000
21.1.2011 Goods withdrawn for
personal use Rs. 5,000
25.1.2011 Paid an advance to
suppliers of goods Rs. 1,00,000
26.1.2011 Received an advance
from customers Rs. 3,00,000
31.1.2011 Paid interest on loan
Rs. 5,000
31.1.2011 Paid instalment of loan
Rs. 25,000
31.1.2011 Interest allowed by
bank Rs. 8,000
Analysis of transaction –with
accounts involved-nature of account-affects and debit/credit
Answer:
Analysis of Transaction under Traditional Approach
|
Sl.
No.
|
Accounts
Involved
|
Nature of
Account
|
Affects
|
Debit/
Credit
|
|
|
Cash a/c
Sanjay a/c
|
Real
Personal
|
Cash (cheque) is coming in
Sanjay is the giver
|
Debit
Credit
|
Q2.
The trial balance of Nilgiris Co Ltd., as taken on 31st December, 2002 did not
tally and the difference was carried to
suspense account. The following errors were detected subsequently.
a)
Sales book total for November was under cast by Rs. 1200.
b)
Purchase of new equipment costing Rs. 9475 has been posted to Purchases a/c.
c)
Discount received Rs.1250 and discount allowed Rs. 850 in September 2002 have
been posted to wrong sides of discount
account.
d)
A cheque received from Mr. Longford for Rs. 1500 for goods sold to him on
credit earlier, though entered correctly
in the cash book has been posted in his account as Rs. 1050.
e)
Stocks worth Rs. 255 taken for use by Mr Dayananda, the Managing Director, have
been entered in sales day book.
f)
While carrying forward, the total in Returns Inwards Book has been taken as Rs.
674 instead of Rs. 647.
g)
An amount paid to cashier, Mr. Ramachandra, Rs. 775 as salary for the month of
November has been debited to his
personal account as Rs. 757.
(Pass
journal entries and draw up the suspense account, Journal entries of all the
transactions, Suspense account with Conclusion)
Answer:
Solution: Nilgiris
Co Ltd
|
Date
|
Particulars
|
LF
|
Debit
Rs.
|
CreditRs.
|
|
31-12-2002
|
Suspense account Dr
To Sales account
(Being under casting of sales book
rectified)
|
|
1,200
|
1,200
|
Q3 From the given trial balance draft an Adjusted Trial Balance.
Trial Balance as on
31.03.2011
|
Debit balances
|
Rs.
|
Credit
balances
|
Rs.
|
|
Furniture and Fittings
|
10000
|
Bank Over
Draft
|
16000
|
|
Buildings
|
500000
|
Capital
Account
|
400000
|
|
Sales Returns
|
1000
|
Purchase
Returns
|
4000
|
|
Bad Debts
|
2000
|
Sundry
Creditors
|
30000
|
|
Sundry Debtors
|
25000
|
Commission
|
5000
|
|
Purchases
|
90000
|
Sales
|
235000
|
|
Advertising
|
20000
|
|
|
|
Cash
|
10000
|
|
|
|
Taxes and Insurance
|
5000
|
|
|
|
General Expenses
|
7000
|
|
|
|
Salaries
|
20000
|
|
|
|
TOTAL
|
690000
|
TOTAL
|
690000
|
Adjustments:
1. Charge depreciation at 10%
on Buildings and Furniture and fittings.
2. Write off further bad debts
1000
3. Taxes and Insurance prepaid
2000
4. Outstanding salaries 5000
5. Commission received in
advance1000
(Preparation of ledger accounts,
Preparation of trial balance )
|
Solution:
|
|
|
|
|
|
|
|
Ledger accounts
|
|
|
|
|
Furniture and
fittings a/c
|
|
||
|
Dr.
|
|
|
|
Cr.
|
|
|
|
|
|
|
|
Particulars
|
|
Rs.
|
Particulars
|
Rs.
|
|
|
|
|
|
|
|
To bal b/d
|
|
10000
|
By Depreciation
|
1000
|
|
|
|
|
By bal c/d
|
9000
|
|
|
|
|
|
|
Q4. Compute trend
ratios and comment on the financial performance of Infosys Technologies Ltd.
from the following extract of its income statements of five years. (in Rs.
Crore)
(Source: Infosys Technologies Ltd. – Annual Report)
(Preparation of trend analysis, Preparation of trend ratios, Conclusion)
Solution:
Infosys Technologies Ltd.
Trend Analysis
|
Particulars
|
2010-11
|
2009-10
|
2008-09
|
2007-08
|
2006-07
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
27,501
|
22,742
|
21,693
|
16,692
|
13,893
|
|
|
|
|
|
|
|
|
|
|
Operating Profit
(PBIDT)
|
8,968
|
7,861
|
7,195
|
5,238
|
4,391
|
|
|
|
|
|
|
|
|
|
Q5. Give the meaning of cash flow analysis and put down the objectives
of cash flow analysis. Explain the preparation of cash flow statement.
(Meaning of cash flow analysis, Objectives of cash flow analysis, Explanation
of preparation of cash flow analysis)
Answer:
Meaning of Cash Flow Analysis
Cash Flow is nothing but an examination of a
company's cash inflows and outflows during a specific period. Deposits are the
cash inflow and withdrawals (checks) are the cash outflows. The balance in your
checking account is your net cash
Q6. Write the assumptions of marginal costing. Differentiate between
absorption costing and marginal costing.
(Assumptions of marginal costing (all 7 points), Differences of
marginal and absorption costing (Includes all 8 points)
Answer:
Assumptions of Marginal Costing
The Marginal Costing technique is based on the
following assumptions:-
1. All elements of costs can be divided in to two parts viz. variable and fixed
1. All elements of costs can be divided in to two parts viz. variable and fixed
Get fully solved assignment. Buy online from website
online store
or
plz drop a mail with your sub code
we will revert you within 2-3 hour or immediate
Charges rs
125/subject and rs 700/semester only.
if urgent then call us on 08791490301, 08273413412
No comments:
Post a Comment