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BCom TY BCom Sem 5 BCom Sem 5 (2018 2019) May 2019 Financial Accounting Auditing Paper VII Management Accounting Question Paper - Mumbai University | munotes

BCom Sem 5 (2018 2019) Question Paper, May (54544).pdf
TY BCOM · 1 May 2025

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Older exam April 2019 - ATKT JOURNALISM EDITING Semester-end · BCom sem 5 (2018 2019) → Newer exam May 2019 - Financial Accounting Auditing Paper VII Management Accounting Semester-end · BCom sem 5 (2018 2019) →

Questions asked in this paper

  • (5) Figures to the right indicate full marks
  1. Q1 a. State whether following statements are True or False (Any Eight) 8 marks
    • 1. Owed funds is an internal source of finance
    • 2. Bank Overdraft is a quick liability
    • 3. Management accounting is compulsory under law
    • 4. Bills Receivable is a Quick Asset
    • 5. Gross Profit Ratio is a Balance sheet Ratio
    • 6. Working capital is equal to Current Asset minus Current Liabilities
    • 7. Permanent working capital is also known as Net Working Capital
    • 8. Office Salaries is an administrative expenses
    • 9. Cash discount is a financial charge
    • 10. Accounting Standard 3 relates to Cash Flow Statement
  2. Q1 b. Match the item in Column ‘A’ with most appropriate item in column ‘B, and rewrite (any seven) 7 marks
    • 1. | Balance sheet ratio a) Receipts from Goods and
    • 2. | Composite Ratio b) Receipts from Sale of Fixed
    • 3. Revenue Statement Ratio c) Receipts from Fresh Issue of From the following data, prepare a statement showing working capital requirements for the year 15
    • a) Estimated activity operation for the year 5,20,000 units (52 weeks)
    • b) Stock of Raw Material 3 weeks and material in process for 4 weeks, 50% of wages and overheads are incurred
    • d) Creditors 4 weeks
    • e) Debtors 8 weeks
    • f) Outstanding wages & overheads 2 weeks each
    • g) Selling price per unit of Rs. 20
    • h) Analysis of Cost per unit is as follows:
    • 1. Raw Material 30 % of sales
    • 2. Labour and Overheads in ratio of 60% and 40% respectively
    • 3. Profit is at Rs.5 per unit Assume that operation are evenly spread throughout the year
  3. Q2 Following are the profit & loss accounts of M/s ABCD Enterprises for the years ended 31* March 2017 & 2018. Profit & loss account for the year ended 31“ march 2017 & 2018 To Cost Of Sales 500000 1000000 | By Sales 700000 1200000 To Office Expenses 50000 60000 | By Dividend 10000 50000 To Office Salaries 30000 25000 To Exhibition Expenses 50000 20000 To Income Tax 10000 30000 To Net Profit c/d 50000 65000 Prepare a comparative Income statement from.the above, in vertical column 15 marks
  4. Q3 M/s Gajanan Ltd. furnishes you their Profit & Loss account for the year ended 31“ March, 2018 and Balance Sheet.as on March, 2018 with some additional information Dr. Profit & Loss account for the year ended 31* March, 2018 Cr To Cost of Goods Sold 30,00,000 | By Sales 50,00,000 To Operating expenses 7,00,000 To Provision for Taxation To Net profit c/d 5,00,000 To Provision for Dividend 3,00,000 | By Balance b/f 5,00,000 To Balance c/f 5,00,000 | By Net profit b/d 3,00,000 Balance Sheet as on March, 2018 Equity Share Capital 10,00,000 | Land and Building 10,00,000 Profit and Loss Account 5,00,000 | Furniture 2,00,000 Bank Overdraft 50,000 | Cash and Bank 2,00,000 Provision for Tax 3,00,000 | Advance Income tax 2,00,000 Provision for Dividend 3,00,000 Closing stock is Rs. 1,00,000 less than the opening stock Calculate following ratios: 15 marks
    • b) Operating Ratio
    • d) Return on equity share capital
    • f) Stock to Working Capital ratio
    • g) Current Ratio
  5. Q3 Following is the balance sheet of Aamir ltd as on 31“ march 2017 and 2018 Prepare a common size balance sheet from the above vertical form 15 marks
  6. Q4 The Balance Sheets of Aqua Ltd. are as follows: Balance Sheet as on December 2016 and 2017 tor - 50,000 | Cash in Hand 60,000 95,000 15 marks
    • (1) During the year 2017 depreciation of Rs 20,000 and Rs30.000 have been charged on Land & Building and Plant &Machinery respectively
    • (2) An Interim Dividend of Rs20,000 was paid during the year 2017
    • (3) During the year 2017 machinery having a Book Value of Rs25,000 was sold Prepare a Cash Flow Statement (by Indirect Method) for the year ended 31st December, 2017 as per AS-3
  7. Q4 M/S Ben Ltd. carrying on business furnishes their position as on 31 Dec 2015, 2016, 2017 as. under. 10000 20000 20000 | on issue of 15000 10000 5000 15 marks
  8. Q5 Explain the factors affecting working capital? 8 marks
    • B. Describe the functions of Management Accountant? 07
  9. Q5 Write a short notes on (Any three) 15 marks
    • a. Cash and Cash Equivalent
    • b. Cash Flow from Financing Activities
    • c. Classification of Assets
    • e. Scope of Management Accounting
    • 8. se
    • 2. Gad GAH
    • a) At 3 Are 4o%
    • a) 2o AT
    • 3. TH
    • 2. 20,000, HEY
    • 3. 24,000 He Fa 20,000

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