BCom In Accounting & Finance (BCAF) SEM IV 2017 2018 May 2018 MANAGEMENT ACCOUNTING Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Each question carries 15 marks
2. Q3 Suitable assumptions and working notes should form the part of your answer
3. Q4 Figures to the right hand side indicate full marks
4. Q5 Please check whether you have got the right question paper
5. Q1 A) Fill in the blanks (any 8): 8 marks
6. Q1 Management accounting is in nature
7. Q2 Use of Management accounting is
8. Q3 Underwriting commission (not written off) is classified as a asset
9. Q4 Profit on sale of fixed asset is recorded in Vertical Income statement under the
10. Q6 Debt service ratio is also called ratio
11. Q7 Cash flow statement is compulsory for companies
12. Q8 Refund of income tax is cash flow from activities
13. Q9 Working capital required at the inception of the business is called
14. Q10 Business that purchases goods on cash basis and sells on credit basis will need
    • B) Match the following (any 7): 7
15. Q2 A) From the following information provided to you by Ramol Ltd. prepare a for Tax Rs. 45000, Bills Receivable Rs. 25000, Cash Rs. 5000, Formation expenses
    • B) Prepare a Vertical Income statement of Rohan Ltd. from the following information and calculate Gross Profit Ratio, Operating Ratio and Stock turnover Ratio: (15) Cash Sales Rs. 550000, Credit Sales Rs. 1450000, Stock on 1“ April, 2015 Rs allowed Rs. 10000, Dividend received Rs. 47000, , Depreciation on office computer on sale of investments Rs. 13000, Stock on March, 2016 Rs. 400000, Interest on Bank Loan Rs. 100000, Provision for tax Rs. 60000
16. Q3 A) Following is the Balance Sheet of Rudra Ltd. Profit & Loss A/c 3000 4000 Land and Building 150000 142500 Provision for Taxes 35000 40000. Sundry Debtors 45000 51000 Proposed Dividend 30000 40000 Cash and Bank Balance 12000 13000 Additional information for the year ended 31-3-2016 was as follows:
    • (i) Depreciation charged on land and building was and on Plant and Machinery was Rs. 20000 During the year, a plant having WDV Rs. 24000 was sold for Rs. 26000
    • (iii) dividend paid Rs. 35000 while provision for tax made for the year was You are required to prepare a Cash flow statement for the year ended 31-03-2016
    • B) Ajinkya Ltd. manufactured and sold 12000 Mobile handsets in the year 2016. The production cost per unit was.a under: For the year 2017, it is estimated that:
    • (1) The output and sales will be 18000 hand-sets. There will be no change in the cost structure and selling price
    • (2) Raw materials will remain in stock for one half month before issue to production
    • (3) Finished goods will remain in godown for one month before sale
    • (4) 20% of the sales will be on cash basis and credit allowed to customers will be two
    • (5) of raw materials requirements will be obtained from a supplier in China by making one month advance payment. Balance suppliers allow credit of two months
    • (6) Wages and Overheads are paid two months and one month in arrears respectively
    • (7) Materials will be in process on an average for one and a half month
    • (8) Cash in hand and with bank should always be Rs. 50000 You are required to forecast working capital requirement of the company for the year
17. Q4 A) Prepare a comparative income statement from the following: Profit & Loss account of M/s. Abhishek Ltd.for the year ended March To Opening Stock 44000 40000 | By Sales 190000. |. 200000 To Purchases 84000 72000 | By Closing Stock 44000 To Wages 40000 36000 | By Interest received 20000 To Factory Expenses 32000 28000 To Selling Expenses 6000 10000 To Loss on sale of Assets 2000 2000 To Provision for taxation 22000 24000 To Net profit 10000 16000 15 marks
    • B) Calculate the Trend Percentage from the following information extracted from the financial statements of Shaurya Ltd Cost of sales 14,970 12,490 8,810
18. Q5 A) Distinguish between Owners fund and Owed Funds. 8 marks
    • B) Distinguish between Debtors turnover Ratio and Creditors turnover Ratio Write short notes on (any 3): (15) 7
    • a) Functions of Management accountant (any 5)
    • c) Forms of expressing ratios
    • d) Cash flow from Financing Activities
    • e) Balance Sheet working capital and Cash working capital

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