M.B.A. I (Semester (CBCS) Examination, 2016
Paper II ACCOUNTING FOR MANAGEMENT
Day and Date Saturday, 17-12-2016 Total Marks 70
Time 2.30 p.m. to 5.00 p.m.
Instructions Q. No. 1 is compulsory.
Attempt any two questions from Q. No. 2 to Q. No. 4.
Attempt any two questions from Q. No. 5 to Q. No. 7.
1. From the following information, prepare Trading and Profit and Loss A/c for the
year ended 31st March, 2012 and a Balance Sheet as on that date of M/s Shrinath
Traders. 14
Trail Balance as on 31st March, 2012
Particulars Debit Particulars Credit
Machinery 50,000 Capital 50,000
Sundry Debtors 60,400 10% Bank Loan 38,000
Stock (on 1st April 2004) 10,000 Discount 2,000
Furniture 18,000 Sales 38,750
Salaries 1,600 Purchases Returns 2,400
Wages 900 Sundry Creditors 26,000
Printing and Stationary 700 R.D.D. 800
Insurance 2,500 Bank Overdraft 18,000
Factory Rent 2,300 Bills Payable 18,650
Office Rent 1,500 Commission 10,400
Advertisement 500
Drawings 6,000
Bad debts 600
Discount 750
Sales Returns 1,400
Purchases 24,650
Travelling Expenses 1,800
Cash in hand 10,400
Carriage Inward 6,000
Postage and Telegram 5,000
Total 2,05,000 Total 2,05,000
Seat
No.
SLR-T 2
Adjustments
Stock on 31st March 2012 amounted to Rs. 60,000/-.
Depreciate Machinery by p.a. and furniture by 10% p.a. respectively.
Insurance is prepaid Rs. 500/-.
Outstanding Expenses were wages Rs. and office rent Rs. 700/-.
Rs. are to be written off as further bad debts.
Create a provision for reserve for doubtful debts on sundry debtors.
2. Solve any two.
From the following particulars prepare Store Ledger on FIFO basis 7
January 2010
01 Opening Stock 1000 Units Rs. 5 each.
03 Purchased 900 units Rs. 6 each.
07 Issued to Job No. 137, 1200 units vide M.R.No. 034.
11 Purchased 800 units Rs. 6.20 each.
13 Purchased 300 units Rs. 6.40 each.
15 Issued to Job No. 140, 400 units vide M.R. No. 042.
17 Issued to Job No. 147, 600 units vide M.R. No. 048.
19 Purchased 200 units Rs. 6.50 each.
25 Issued to Job No. 137, 200 units vide M.R. No. 072.
A firm purchased on 1st April 2010, certain machinery for Rs. and
spent Rs. on its erection. On 1st Oct. 2011 additional machinery costing
Rs. was purchased. On 1st April 2012 the machinery purchased on
1st April 2010 having become obsolete on auction for Rs. and on
same date fresh machinery was purchased for Rs. depreciation was
provided for annually on 31st March 10% on WDV. With effect from
April 2013, however, the firm changed this method of providing depreciation
and providing p.a. depreciation on the original cost of the Machinery.
Prepare the Machinery adopted the method account for 4 years. 7
Explain the Internal and External users of Accounting information. 7
3. Solve any two.
Journalise the following transactions in the books of Mr. Ashish. 7
April 2011
1 Assets in hand Cash in hand Rs. 4,000, Stock of Goods Rs. 20,000, Cash
at Bank Rs. 12,000 and Rajendra Rs. 6,000.
Liabilities Anand Rs. 3,000, Loan Rs. 12,000.
SLR-T 2
2 Received Rs. 5,600 from Rajendra in full settlement of his account.
3 Sold personal car of proprietor for Rs. 40,000 and the amount was brought
in his own business.
4 Goods purchased from Amit of Rs. 10,000 with TD.
5 Goods sold to Gayatri Rs. 20,000 for cash less 10% CD.
6 Rent and taxes paid Rs. 500.
7 Deposited Rs. 15,000 into bank.
8 Bought Machinery from Raman Rs. 10,000.
9 Paid to Anand Rs. 2,800 for full settlement of an account.
10 Withdrew from bank for office use Rs. 4,000.
11 Goods of Rs. 1,000 returned to Amit.
12 Received Commission of Rs. 500.
Enter the following transaction in the cash book with discount and bank
columns. 7
January 2010
1 Stated business with cash of Rs. 10,000.
2 Bought goods for cash Rs. 2,000.
4 Sold goods for cash Rs. 1,500.
6 Purchased Office furniture Rs. 500.
6 Received Commission of Rs. 50.
10 Received cheque from Amol for Rs. 490 in full settlement of his account for
Rs. 500.
12 Paid to Omkar a cheque for Rs. 500 in full settlement of their account for
Rs. 520.
15 Drew amount from business for personal use Rs. 500.
17 Sold goods to Neeta for Rs. 800 and received cheque for the same.
20 Cash withdraw from bank Rs. 1,000.
22 Made cash purchases Rs. 300.
25 Paid office rent Rs. 200.
Explain the Elements of Cost. 7
4. Write short notes (any two). 14
Subsidiary Books.
Bank Reconciliation Statement.
Uses of Computerized Accounting.
SLR-T 2
5. Discuss accounting concepts and conventions. 14
6. State the objectives of cost accounting. State the difference between financial
accounting and cost accounting. 14
7. From the following information of M/s Shrikrishna, for the year 2010 you are
required to prepare 14
Material Consumed.
Prime Cost.
Work Cost.
Cost of Production.
Cost of goods sold.
Profit.
Rs.
Stock of raw materials (1.1.2010) 50,000
Purchase of Raw Materials 1,70,000
Stock of raw materials (31.12.2010) 80,000
Carriage Inward 10,000
Direct Wages 1,50,000
Indirect Wages 20,000
Other Direct Charges 30,000
Office rent and rates 1,000
Factory rent and rates 10,000
Indirect consumption of materials 1,000
Depreciation on Plant 3,000
Depreciation on office furniture 200
Salesmen Salary 4,000
Salary to office supervisor 5,000
Other factory expenses 11,400
Other office expenses 1,800
General Managers Remunerations
Office 4,000
Factory 8,000
Selling Dept. 12,000
Other Selling Expenses 2,000
Travelling expenses of salesman 2,200
Carriage and freight outward 2,000
Sales 5,00,000
Advertisement 4,000