Smu 1st Sem Assmnt Questions 2010

Fall 2010 Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting - 4 Credits (Book ID :B1130) Assignment Set- 1 (60 Marks) Note: Each catechism carries 10 Marks. Answer all the questions. Q. 1 Explain the Assorted accounting Concepts and Principles? Q. 2 Pass annual entries for the afterward affairs 1. Madan commenced business with banknote Rs. 70000 2. Purchased appurtenances on acclaim 14000 3. Withdrew for clandestine use 3000 4. Appurtenances purchased for banknote 12000 5. Paid accomplishment 5000 Q. 3 Explain the assorted types of errors appear by Trial Balance? [10 Marks] [10 Marks] 10 Marks] Q. 4 From the afterward balances extracted from Trial balance, adapt Trading Account. The closing banal at the end of the aeon is Rs. 56000 Particulars Banal on 1-1-2004 Returns inwards Returns outwards Purchases Debtors Creditors Carriage inwards Carriage outwards Import assignment on abstracts accustomed from away Clearing accuse Rent of business boutique Royalty paid to abstract materials Amount in Rs. 70700 3000 3000 102000 56000 45000 5000 4000 6000 7000 12000 10000 10 Marks] Fall 2010 Fire allowance on banal Accomplishment paid to workers Office salaries Banknote abatement Gas, electricity and baptize Sales 000 8000 10000 1000 4000 250000 Q. 5 Differentiate Financial Accounting and Management accounting? [10 Marks] Q. 6 Afterward is the Antithesis Sheet of M/s Srinivas Ltd. You are appropriate to adapt a Fund Flow Statement Particulars Equity Share basic Accumulation & Loss 14,750 17,000 31,000 15,000 16,500 2006 50,000 2007 65,000 Particulars Banknote balances Debtors Investment 25,000 5,000 27,000 nil 80,000 (7000) 2006 10,000 2007 13,000 [10 Marks] Trade Creditors 29,000 Mortgage 10,000 Anchored Assets 50,000 Less: Depreciation (5,250) Short appellation loans 15,000 Accrued costs 8,000 7,500 Amicableness 5,000 nil Stock Total 1, 26,750 1, 52,000 Total 37,000 1, 26,750 39,000 1, 52,000 Additional Information: 1. Depreciation provided is Rs. 1750. 2. Write off goodwill. 3. Dividend paid Rs. 3500. Fall 2010 Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting - 4 Credits (Book ID :B1130) Assignment Set- 2 (60 Marks) Note: Each catechism carries 10 Marks. Answer all the questions. Q. 1 Explain the accoutrement of Management accounting? Marks] Q. 2 Find the addition and accumulation becoming if the affairs amount per assemblage is Rs. 25, capricious amount per assemblage Rs. 20 and anchored amount Rs. ,05,000 for the achievement of 80,000 units. [10 Marks] Q. 3 Explain the capital appearance of bread-and-butter control? Marks] Q. 4 A ample retail food makes 25% of its sales for banknote and the antithesis on 30 canicule net. Due to adulterated accumulating practice, there accept been losses from bad debts to the e xtent [10 [10 of 1 % of acclaim sales on boilerplate in the past. The acquaintance of the abundance tells that commonly 60 % of acclaim sales are calm in the ages afterward the sale, 25% in the additional afterward ages and 14 % in the third afterward month. Sales in the above-mentioned three months accept been January 2007 Rs. 80,000, February Rs. ,00,000 and March Rs. 1,40,000. Sales for the abutting three months are estimated as April Rs. 1,50,000, May Rs. 1,10,000 and June Rs. 1,00,000. Adapt a agenda of projected banknote collection. [10 Marks] Q. 5 A branch works on accepted costing system. The accepted estimates of actual for the accomplish of 1000 units of a article are 400 kg at Rs. 2. 50 per kg. When 2000 units of a article are manufactured, it is begin that 820 kgs of actual is captivated at Rs. 2. 60 per kg. Calculate the actual about-face Marks] Q. 6 The Anchor Aggregation Ltd produces best of its electrical genitalia in its own plant. The aggregation is at present because the achievability of affairs a allotment from an alfresco supplier for Rs. 4. 5 per part. If this were done, annual costs would access by Rs. 1,000 [10 Fall 2010 The allotment beneath application is bogus in Department 1 forth with abundant alternative parts. On annual of alternate the assembly of this part, Department 1 would accept somewhat bargain operations. The boilerplate annual acceptance assembly of this allotment is 20,000 units. The costs of bearing this allotment on per assemblage base are as follows. Actual Labour (half-hour) Anchored overheads Total costs Rs. 1. 80 2. 40 0. 80 5. 00 [10 Marks]

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