BCom SY BCom Sem 3 BCom Sem 3 (2018 2019) Nov 2019 FINANCIAL ACC AUDITING INTRO TO MGT. ACC Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Figures to right indicate full marks
2. Q3 Working should form part of the answer
3. Q4 Simple calculator is allowed
4. Q1 A) Match the columns (Any ten). 10 marks
5. Q1 B) State whether the following statements are True or False: (Any ten) 10 marks
6. Q1 Depreciation is a non-cash expenditure
7. Q2 Net Profit Ratio is a measure of profitability
8. Q3 Unclaimed dividend is a current liability
9. Q4 Focus of Management Accounting is only an external reporting
10. Q5 While calculating working capital requirement debtors may be valued at cost price or at selling price
11. Q6 Higher Gross Profit Ratio shows a higher trading efficiency of an organisation
12. Q7 Net Present Value method considers time value of money
13. Q8 In Common Size Income statements capital employed is considered equal to 100%
14. Q9 Profit & Loss Account shows financial position of an organisation 10)Capital Gearing Ratio is called Capital Structure Ratio 11)Own fund is external fund 12)Average stock is the total of opening and closing stock Paper Subject Code: 79306 Financial Accounting and Auditing - Introduction to Management Accounting
    • Q.P. Code :22500
15. Q2 A) From the following details of M/s AB Ltd., prepare Comparative Revenue Statement in vertical form suitable for analysis Particulars Amount Amount Amount of % of 8 marks
    • B) Complete the following Vertical Common Size Balance Sheet of M/s BC Ltd. 07 Common Size Balance Sheet as on March 2017
16. Q2 The following is financial information of M/s CD Ltd. for three years. You are required to prepare Trend vertical form suitable for analysis Paper Subject Code: 79306 Financial Accounting and Auditing - Introduction to Management Accounting 15 marks
    • Q.P. Code :22500
17. Q3 Following is the Revenue Statement of X & Co.Ltd., for the year ended March, 2017. To Opening Stock 12,00,000 | By Sales 60,00,000 To Purchases By Closing Stock 15,00,000 To Carriage Inward 7,50,000 To Gross Profit c/d 15,00,000 To Salaries 1,50,000 | By Gross Profit b/d 15,00,000 To Interest 60,000 | By Profit on Sale of To General Expenses 75,000 | Investments 7,500 To Sales Promotion Expenses 1,12,500 | By Commission 1,05,000 To Discount allowed 37,500 To Loss.on Sale of Fixed Assets 30,000 To Provision for Income Tax 2,70,000 To Net Profit Paper Subject Code: 79306 Financial Accounting and Auditing - Introduction to Management Accounting 15 marks
    • Q.P. Code :22500
18. Q3 Following is the Balance Sheet of M/s XY Ltd. as on 318t March, 2017. [Equity shares of = 3 each] 3,00,000 | Land & Building 3,60,000 Profit and Loss Account 34,000 | Inventory 1,20,000 Provision for Taxation Other details for the year ended March 2017 are as under: Sales = 13,00,000 (80% on credit) Purchases = 6,60,000 (80% on credit) 15 marks
19. Q5 Return on Capital Employed Ratio
20. Q4 Megh Industries Ltd. has an investment proposal of = 40,00,000. The expected cash inflows for ten years are as under: You are required to calculate: Paper Subject Code: 79306 Financial Accounting and Auditing - Introduction to Management Accounting 15 marks
    • Q.P. Code :22500
21. Q1 Payback Period
22. Q2 Net Present Value at 10% Discount Factor
23. Q3 Profitability Index at 10% Discount Factor
24. Q4 Pawan Ltd. is considering two projects. Both require an initial cash investment of = 10,00,000 each and have a life of five years with nil scrap value Estimated Net Profit Before Tax of Machine A and Machine B is as under: Tax rate is 30% Calculate Average Rate of Return for Machine A and Machine B and suggest which machine should be accepted 15 marks
25. Q5 The following information is available from the records of SMR Ltd. for the year ending on The following further information is as under: 15 marks
    • a) Raw materials are in stock on an average of two months
    • b). Materials are in process for one month
    • c) Finished goods remain in stock on an average for one month
    • d) Time lag in payment of wages and overheads is half a month
    • e) Credit allowed to debtors is two months and credit allowed by suppliers is one month. [Debtors are estimated at selling price]
    • f) of the output is sold against cash and balance on credit
    • g) keeps a cash balance of = 2,00,000
    • h) Margin of safety required is 10%
    • i) Units manufactured 1,50,000 for the year Paper Subject Code: 79306 Financial Accounting and Auditing - Introduction to Management Accounting
    • Q.P. Code :22500 Prepare a statement showing the working capital requirement of SMR Ltd. for the year Operations are evenly spread through out the year. Expenses accrue similarly
26. Q5 The production and sales of MTK Ltd., during the year 2015-16 was 20,000 year 2016-17 it is expected to increase by 50% The estimated cost structure for the year 2016-17 is: The expected selling price is at 20% profit on cost It is also estimated that during the year 2016-17: 15 marks
27. Q1 Raw materials will remain in stock for 15 days
28. Q2 Finished goods will remain in store for 30 days
29. Q3 Credit allowed to the customers will be 45 days
30. Q4 Credit allowed by the suppliers will be 30 days
31. Q5 Debtors are estimated at selling price
32. Q6 Operation and expenses will accrue evenly throughout the year
33. Q7 Working days of the company will be 300 days in the year You are required to prepare a statement of working capital requirement for the year
34. Q6 A) Distinguish between Financial Accounting and Management Accounting. 10 marks
    • B) Explain the advantages of Ratio Analysis. 10
35. Q6 Write short notes on (Any four). 20 marks
    • i) Current Liabilities
    • ii) Functions of Management Accounting

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