MARIAN ACADEMY OF
MANAGEMENT STUDIES
Marian
Village, Puthuppady P.O, Kothamangalam-686 673
M.B.A DEGREE MODEL EXAMINATION DECEMBER 2012
First
Semester
Time: 3 hours ACCOUNTING
FOR MANAGEMENT Marks – 60
Answer
all questions all questions carry equal marks.
1.
a) Describe the various accounting
concepts used
Or
b) The following are the summarized Balance Sheets
of Ram Ltd. As at 31st December 1999 and 2000, prepare a statement
showing changes in working capital.
BALANCE SHEET
|
Liabilities
|
1999
Rs.
|
2000
Rs.
|
Assets
|
1999
Rs.
|
2000
Rs.
|
|
Capital:
Equity Shares
Preference
Shares
General
Reserve
Profit
and Loss
Current
Liabilities
Creditors
Bills
Payable
Overdraft
Taxation
Provision
Proposed Dividend
|
1,00,000
30,000
25,000
20,000
-
3,000
7,000
10,000
|
1,00,000
40,000
70,000
10,000
2,000
-
12,000
16,000
|
Fixed
Assets
Investments
Current
Assets:
Stock
Debtors
B/R
Prepaid
Expenses
Cash
Advances
|
95,000
-
40,000
20,000
5,000
5,000
20,000
10,000
|
1,20,000
10,000
60,000
40,000
2,000
18,000
10,000
40,000
|
|
|
1,95,000
|
3,00,000
|
|
1,95,000
|
3,00,000
|
2.
a)
What are the advantages and disadvantages of ratio analysis?
Or
b) Briefly
explain the different types of cost in cost accounting
3.
a) How will you calculate cash from
operations in a cash flow statement?
Or
b) Assuming that the cost structure
and selling prices remain the same in periods I and II. Find Out:
(a)
Profit Volume Ratio : (b) Fixed Cost :
(c) Break Even Point for Sales: (d) profit when Sales are Rs.1,00,000; (e)
Sales required to earn a Profit of Rs.20,000; and (f) Margin of Safety at a
Profit of Rs.15,000; (g) Variable Cost in Period II
|
Period
|
Sales
|
Cost
|
Profit
|
|
I
|
1,20,000
|
1,11,000
|
9,000
|
|
II
|
1,40,000
|
1,27,000
|
13,000
|
4.
a) Write a brief note on various
types of variance analysis
Or
b) A
company expects to have Rs. 37,500 cash in hand on 1st April, and
requires you to prepare an estimate of cash position during the three months,
April, May and June. The following information is supplied to you:
|
|
Sales
|
Purchases
|
Wages
|
Factory
Expenses
|
Office
Expenses
|
Selling
Expenses
|
|
|
Rs.
|
Rs.
|
Rs.
|
Rs.
|
Rs.
|
Rs.
|
|
February
|
75,000
|
45,000
|
9,000
|
7,500
|
6,000
|
4,500
|
|
March
|
84,000
|
48,000
|
9,750
|
8,250
|
6,000
|
4,500
|
|
April
|
90,000
|
52,500
|
10,500
|
9,000
|
6,000
|
5,250
|
|
May
|
1,20,000
|
60,000
|
13,500
|
11,250
|
6,000
|
6,570
|
|
June
|
1,35,000
|
60,000
|
14,250
|
14,000
|
7,000
|
7,000
|
Other information:
1. Period
of credit allowed by suppliers 2 months.
2. 20%
of sales is for cash and period of credit allowed to customers for credit is
one month.
3. Delay
in payment of all expenses – 1 month.
4. Income
tax of Rs.57,500 is due to be paid on June 15th
5. The
company is to pay dividends to shareholders and bonus to workers of Rs. 15,000
and Rs.22,500 respectively in the month of April
6. Plant
has been ordered to be received and paid in May. It will cost Rs.1,20,000
5.
Compulsory
From
the following prepare final account for the year 2009:-
|
|
Rs.
|
|
Rs.
|
|
Capital
|
92,000
|
Cash
at bank
|
14,534
|
|
Creditors
|
18,852
|
Bills
receivable
|
5,844
|
|
Bills
payable
|
6,930
|
Purchases
|
85,522
|
|
Sales
|
1,21,850
|
Carriage
|
2,091
|
|
Reserve
for doubtful debts
|
1,320
|
General
expenses
|
6,085
|
|
Interest
(Cr.)
|
340
|
Insurance
|
783
|
|
Buildings
|
70,000
|
Bad
debts
|
613
|
|
Motor
trucks
|
12,000
|
Audit
fees
|
400
|
|
Furniture
|
1,640
|
Rent
|
325
|
|
Debtors
|
15,600
|
Discount
(Dr.)
|
620
|
|
Opening
stock
|
15,040
|
Sales
return
|
285
|
|
Cash
in hand
|
988
|
Investments
|
8,922
|
Adjustment:
a) Closing
stock Rs. 15,500
b) Depreciate
motor trucks by 10% and fixture by 5%.
c) Write
off a further Rs.140 on bad debts and maintain reserve at 5% on debtors.
d) Insurance
Rs.150 is still unexpired.
e) Interest
on investment outstanding Rs.120
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