Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
23Activity
0 of .
Results for:
No results containing your search query
P. 1
14mba-financial-accounting-and-analysis-set1

14mba-financial-accounting-and-analysis-set1

Ratings: (0)|Views: 965 |Likes:
Published by SRINIVASA RAO GANTA

More info:

Published by: SRINIVASA RAO GANTA on Sep 19, 2008
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

05/09/2014

pdf

text

original

Code No: 14MBA
R7
M.B.A. I Semester Supplimentary Examinations, Jul/Aug 2008
FINANCIAL ACCOUNTING AND ANALYSIS
- - - -
Time: 3 hours
Max Marks: 60
Answer any FIVE Questions
All Questions carry equal marks
\ue000 \ue000 \ue000 \ue000 \ue000
1. Write short notes on:

(a) Accounting
(b) Accountancy
(c) Account.

2. Describe the Accounting cycle.

3. On 1st January 1998, a merchant purchased a furniture costing Rs. 55,000. It is estimated that its working life is 10 years at the end of which it will fetch Rs. 5000. Additions are made on 1st January, 1999 and 1st July, 2001 to the value of Rs. 9500 and Rs. 8400 (Residual values Rs. 500 and Rs. 400 respectively). Show the Furniture Account for the \ufb01rst four years, if depreciation is written o\ufb00 according to the straight line method.

4. The Balance Sheet of a partnership was as follows:
Balance Sheet
Liabilities
Rs. Assets
Rs.
Capitals :
Goodwill
15000
a. Rs. 70000
Plant
80000
b. Rs. 40000
Furniture
5000
c. Rs. 30000
140000 Stock
50000
Sundry Creditors 60000 Sundry Debtors
30000
Prepaid expenses
2000
Bank Balance
18000
200000
200000

It was proposed to form a company to acquire business. For the purpose of the acquisition, the Assets were revalued as under: Plant Rs. 64000; Furniture Rs. 4500; Stock Rs. 45000; Debtors Rs. 28500; Prepaid expenses Nil.

It was ascertained that the pro\ufb01ts before charging remuneration for partners for the past \ufb01ve years has been as follows: Rs. 25,000 : Rs. 30,000 ; Rs. 28,000 ; Rs. 32,000 ; Rs. 35,000. Included in these pro\ufb01ts were non-recurring items averaging Rs. 3000 but from the nature of the business such income was found to arise every year and the promoters agreed that a \ufb01gure of Rs. 1,000 should be allowed as Pro\ufb01t from this source.

Similar business paid a dividend of 8% p.a. on their Ordinary shares and the
1 of 2

Activity (23)

You've already reviewed this. Edit your review.
1 hundred reads
1 thousand reads
doctor khan liked this
doctor khan liked this
Ruel Recampo liked this
Alyssa Petrina liked this
subba1995333333 liked this
subba1995333333 liked this

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->