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Master of Business Administration (M.B.A.) Semester-I (C.B.C.S.) Examination Accounting For Managers Compulsory Paper-3
Master of Business Administration (M.B.A.) Semester-I (C.B.C.S.) Examination Accounting For Managers Compulsory Paper-3
RQA—32382 1 (Contd.)
You are required to consider the following additional information :
(a) Transfer ` 19,900/- to General Reserve.
(b) Depreciate Furniture @ 10% p.a.
(c) Closing Stock ` 11,900/-.
(d) Provide ` 30,500/- for taxes.
Prepare a Statement of Profit & Loss for the year ended 31st March, 2015 and a Balance
Sheet as on that date as per the revised Schedule VI to the Companies Act, 2013.
3. (A) From the following Balance Sheet of Pragati Ltd. as at 31.3.2013 and 31.3.2012. Prepare
a Cash Flow Statement :
Particulars Note 31.3.2013 31.3.2012
No.
I. Equity and Liabilities :
(1) Shareholders Fund :
(a) Share Capital 1,05,000 75,000
(b) Reserves and Surplus 1 85,000 50,000
(2) Current Liabilities :
(a) Short-term borrowings 2 25,000 15,000
(b) Trade Payables 3 22,000 17,400
Total 2,37,000 1,57,400
II. Assets :
(1) Non-current Assets :
(a) Fixed Tangible Assets 1,66,000 93,400
(2) Current Assets :
(a) Inventories 27,000 24,000
(b) Trade Receivables 39,000 36,000
(c) Cash & Cash Equivalents 5,000 4,000
Total 2,37,000 1,57,400
Notes :
31.3.2013 31.3.2012
(1) Reserves and Surplus :
General Reserve 55,000 30,000
Bal. of Statement of P & L 30,000 20,000
85,000 50,000
RQA—32382 2 NJR/KS/18/6738
(2) Short-term Borrowings :
22,000 17,400
39,000 36,000
Additional Information :
(1) Depreciation charged on fixed tangible assets for the year 2012-13 was Rs. 20,000/-
(2) Income tax Rs. 5,000 has been paid during the year.
OR
(B) The firm has owner’s equity of Rs. 1,00,000. The ratio for the firms are as follows :
RQA—32382 3 NJR/KS/18/6738
4. (A) From the following forecast of income and expenditure prepare a Cash Budget for the three
months commencing from 1st June 2014, when the bank balance was Rs. 1,00,000/- :
Month Sales Purchases Wages Factory OH Admin. OH
April 80,000 41,000 5,600 3,900 10,000
May 76,500 40,500 5,400 4,200 14,000
June 78,500 38,500 5,400 5,100 15,000
July 90,000 37,000 4,800 5,100 17,000
August 95,000 35,000 4,700 6,000 13,000
Additional Information :
(1) A sales commission of 5% on sales, due two months after sales is payable.
(2) Plant valued at Rs. 65,000 will be purchased and paid for in August.
(3) Dividend for the last financial year of Rs. 15,000 will be paid in July.
(4) There is a two months credit period allowed to customers and received from suppliers.
(5) Lag in payment of wages and overheads is one month.
OR
(B) A company working at 50% capacity manufacturers 10000 units of a product. At 50%
capacity the product cost is Rs. 180 and sale price is Rs. 200. The break up of the cost is
as below :
Cost per unit
Material Rs. 100
Wages Rs. 30
Factory Rs. 30 (40% fixed)
Administration overheads Rs. 20 (50% fixed)
At 60% working raw material cost goes up by 2% and sales price falls by 2%. At 80%
working the raw material cost increases by 5% and sale price decreases by same percentage
i.e., 5%.
Prepare a statement to show profitability at 60% and 80% capacity.
5. (A) Differentiate capital expenditure from revenue expenditure.
(B) What is Balance Sheet ?
(C) State the purpose of cash flow statement.
(D) What is Master Budget ?
RQA—32382 4 NJR/KS/18/6738