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TAMIL NADU OPEN UNIVERSITY MCA - II (SEM 3) JUN 2008 : Accounting And Finance On Computers

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Wk 6 MCA 653 MCA-13 M.C.A. DEGREE EXAMINATION JUNE 2008. Second Year/Third Semester ACCOUNTING AND FINANCE ON COMPUTERS Time : 3 hours Maximum marks : 75 Answer for 5 marks questions should not exceed 2 pages. Answer for 10/15 marks questions should not exceed 5 pages. PART A (5 5 = 25 marks) Answer any FIVE questions 1. State the rules of debiting and crediting. 2. How is cost volume profit analysis useful to the management? 3. Explain the significance of capital gearing ratio. 4. How does cash budget help the management? Wk 6 5. The Balance Sheet of Alarm Ltd at the end of 1998 and 1999 are given below. Your are required to prepare a Schedule of changes in Working Capital. Liabilities 1998 Rs. Shares Capital 1,00,000 1999 Rs. Assets 1,50,000 Land Share 1998 Rs. 1999 Rs. 1,00,000 1,00,000 Plant Premium 50,000 General at cost Debtors 1,10,000 1,00,000 50,000 70,000 Reserve 50,000 60,000 Stock 40,000 50,000 Creditors 2,10,000 80,000 Cash 60,000 20,000 3,60,000 3,40,000 3,60,000 3,40,000 6. From the following particulars calculate wages earned by workers A and B respectively under Taylors system. Standard time allowed : 10 units per hour Normal wage rate Rs 1 per hour : Differential rates to be applied : 75 per cent of piece rate when below standard efficiency 125 per cent of piece rate when at or above standard production on a day of 8 hours A - 60 units B - 100 units. 7. Find out the quantity of Raw material to be purchased from the following details. 2 MCA 653 Wk 6 Opening stock of Raw materials 15,000 kgs Material expected to be consumed 20,000 kgs Closing stock of Raw material required 10,000 kgs. PART B (5 10 = 50 marks) Answer any FIVE questions. 8. Discuss the various types of accounts. 9. How are the working capital needs of a firm determined? 10. Define cost accounting. What are its objectives? 11. K. Ltd Produces and sells a product for which total capacity of 2000 units exists. The following expenses are for the production of 1,000 units of the product which is sold at Rs. 130 per unit. Per unit (Rs.) Direct materials 20 Direct wages 30 Administration overheads (constant) 20 Selling expenses (50% fixed) 10 Distribution expenses (25% fixed) 20 100 You are required to prepare a flexible budget for the production and sale of 1,200 units and 2,000 units 3 MCA 653 Wk 6 showing clearly the marginal (variable ) cost and total cost at each level. 12. The following are the Income statement of J.Ltd. For the year ending 31st December 1999 and 1998. You are required to prepare a comparative Income statement for the two years. 31.12.1998 Rs. 10,00,000 5,50,000 80,000 60,000 1,00,000 80,000 40,000 50,000 Net Sales Cost of goods sold Operating expenses Administration Selling Non-operating expenses Interest Income tax 31.12.1999 Rs. 12,00,000 6,05,000 50,000 80,000 13. From the following Trail Balance prepare Trading, Profit and Loss account and Balance Sheet for the Year ending 31st March 2001. Trial Balance as on 31st March 2001 Particulars Debit Credit Rs. Rs. Shares Capital 2,00,000 Furniture 1,00,000 Sundry debtors 30,000 Sundry Creditors 30,000 Cash in hand 10,000 Rs. Rs. Purchases 50,000 Sales 40,000 4 MCA 653 Wk 6 Purchases returns Wages Telephone bill Carriage outwards Selling expenses General expenses Opening stock Discount allowed Administrative expenses Postage and stationary Discount received Administrative expenses 2,000 7,000 4,000 3,000 6,000 8,000 40,000 2,000 5,000 2,000 3,000 8,000 2,75,000 2,75,000 The following adjustments are to be made: (a) Depreciate Furniture by 5% (b) Outstanding Rent is Rs. 200 (c) Insurace premium paid up to 30th June 2001 (d) Stock in hand as on 31st December is Rs. 30,000 (e) 14. Provide Reserve for bad debts 10%. Ms. Asoka Ltd. has submitted the following Balance Sheet for the year ending 31st March 2007 Liabilities Equity Capital Rs. Assets 1,50,000 5 Fixed Assets Rs. 1,62,000 MCA 653 Wk 6 Revenue reserves 30,000 Current Assets : 8% Debentures 20,000 Stock 22,000 Sundry Creditors 49,000 Debtors 51,000 Bills Receivable Bank 2,49,000 2,000 12,000 2,49,000 Find the Current ratio and Liquid ratio and comment on the financial condition of the company. 6 MCA 653

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Additional Info : Mca - II (sem 3) June 2008 Question Paper - Accounting And Finance On Computers
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