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TAMIL NADU OPEN UNIVERSITY MCA - II (SEM 3) JUN 2010 : Accounting And Finance On Computers

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MCA 763 MCA-13 M.C.A. DEGREE EXAMINATION JUNE 2010. Second Year ACCOUNTING AND FINANCE ON COMPUTERS Time : 3 hours Maximum marks : 75 Answer for 5 marks questions should not exceed 2 pages. Answer for 10 marks questions should not exceed 5 pages. PART A (5 5 = 25 marks) Answer any FIVE questions. 1. Explain the functions of accounting. 2. Explain the meaning of a cash flow statement. Discuss its significance. 3. What do you understand by ratio analysis? State the uses of ratio analysis. 4. What is financial leverage? What significance of financial leverage? are the 5. The following Balance were extracted from the books of a sole trader. Prepare trading A/c. Rs. Opening stock 2,000 Purchase return 200 Sales return 300 Sales 7,000 Closing stock 1,500 Wages 350 Purchases 4,000 Carriage inwards 6. 175 Amar Ltd., presents the following results for one year. Calculate the P/V ratio, BEP and margin of safety. Rs. Sales 2,00,000 Variable costs 1,20,000 Fixed cost 50,000 Net Profit 30,000 2 MCA 763 7. From the following turnover ratio : details, Calculate stock Rs. Sales 78,000 Gross profit 36,480 Opening stock 15,920 Closing stock PART B (5 14,400 10 = 50 marks) Answer any FIVE questions. 8. What are accounting concepts? Name them and explain in details. 9. What are the various factors which influence the dividend decisions of a firm? 10. Based on the following information, prepare a trading, profit and loss account and balance sheet as on 31.12.2008. Particulars Debit Rs. Cash in hand Purchases Credit Rs. 3,050 40,650 3 MCA 763 Particulars Debit Rs. Wages 11,000 Opening stock Building Credit Rs. 7,800 38,000 Land 5,000 Machinery 25,000 Salary 17,000 Rent 3,000 Insurance 600 Debtors 8,700 Bills receivable 1,200 Sales 99,000 Creditors 6,000 Capital 56,000 1,61,000 1,61,000 Adjustments : (a) Closing stock Rs. 1,00,000 4 MCA 763 (b) (c) Prepaid insurance Rs. 100 (d) 11. Outstanding wages Rs. 500 and salary Rs. 1,000. Depreciation on machinery @ 10%. Sugan & Co., presents the following financial statement for 2006 and 2007. Prepare a source and application of funds statement. Balance Sheets Liabilities 2006 2007 Rs. Assets Rs. 2007 Rs. 6,28,000 Cash 2006 Rs. Bills payable 4,52,000 Creditors 8,26,000 12,54,000 Investment 1,74,000 Loan from 2,00,000 4,70,000 Debtors 1,06,000 62,000 6,92,000 10,56,000 bank Reserve and surplus Stock 8,64,000 13,66,000 13,84,000 17,28,000 Net fixed Share capital 12,00,000 12,00,000 assets 40,62,000 52,80,000 22,26,000 27,96,000 40,62,000 52,80,000 Depreciation of Rs. 3,78,000 was written off for the year 2007 on fixed assets. 5 MCA 763 12. X Y Ltd., a multi-product company furnishes you the following data relating to year. Assuming that the cost structure and selling prices remains the same. Find out. (a) P/V ratio (b) Break even sales. (c) Profit when sales are Rs. 1,00,000 (d) Sales required to earn a profit of Rs. 20,000. Period Sales Profits I 9,000 II 13. 1,20,000 1,40,000 13,000 From the following particulars pertaining to assets and liabilities of a company calculate : (a) Current ratio (b) Liquid ratio (c) Debt-equity ratio (d) Proprietary ratio Liabilities Rs. Assets 5,000 equity shares of 5,00,000 Land and Rs. 100 each Buildings 6 Rs. 6,00,000 MCA 763 Liabilities 2,000 8% preference share of Rs. 100 each Rs. Assets 2,00,000 Plant and machinery 4,000 9% debentures of Rs. 100 each Rs. 5,00,000 Stock 2,40,000 4,00,000 Debtors 2,00,000 Reserves 3,00,000 Cash and bank Creditors 1,50,000 Pre-paid expenses Bank overdraft 5,000 50,000 16,00,000 14. 55,000 16,00,000 Prepare a flexible budget for overhead on the basis of the following data. Ascertain the overhead rates at 50%, 60% and 70% capacity. At 60% capacity Rs. Variable overheads : Indirect material 6,000 Indirect labour 18,000 Semi-variable overheads : Electricity (40% fixed 60% variable) 7 30,000 MCA 763 At 60% capacity Rs. Repairs (80% fixed 20% variable) 3,000 Fixed overheads : Depreciation 16,500 Insurance 4,500 Salaries 15,000 Total overheads 93,000 Estimated direct labour hours 1,86,000 8 MCA 763

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Additional Info : Mca - II (sem 3) June 2010 Question Paper - Accounting And Finance On Computers
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