Smu 1st Sem Assmnt Questions 2010

Fall 2010 Master of Business Administration-MBA Semester 1 MB0041 †Financial and Management Accounting †4 Credits (Book ID :B1130) Assignment Set-1 (60 Marks) Note: Each question conveys 10 Marks. Answer all the inquiries. Q. 1 Explain the Various bookkeeping Concepts and Principles? Q. 2 Pass diary passages for the accompanying exchanges 1. Madan started business with money Rs. 70000 2. Bought merchandise using a credit card 14000 3. Pulled back for private utilize 3000 4. Products bought for money 12000 5. Paid wages 5000 Q. 3 Explain the different kinds of blunders unveiled by Trial Balance? [10 Marks] [10 Marks] 10 Marks] Q. 4 From the accompanying adjusts removed from Trial balance, get ready Trading Account. The end stock toward the finish of the period is Rs. 56000 Particulars Stock on 1-1-2004 Returns inwards Returns outwards Purchases Debtors Creditors Carriage inwards Carriage outwards Import obligation on materials got from abroad Clearing charges Rent of busines s shop Royalty paid to extricate materialsAmount in Rs. 70700 3000 102000 56000 45000 5000 4000 6000 7000 12000 10000 10 Marks] Fall 2010 Fire protection on stock Wages paid to laborers Office compensations Cash markdown Gas, power and water Sales 000 8000 10000 1000 4000 250000 Q. 5 Differentiate Financial Accounting and Management bookkeeping? [10 Marks] Q. 6 Following is the Balance Sheet of M/s Srinivas Ltd. You are required to set up a Fund Flow Statement Particulars Equity Share capital Profit and Loss 14,750 17,000 31,000 15,000 16,500 2006 50,000 2007 65,000 Particulars Cash adjusts Debtors Investment 25,000 5,000 27,000 nil 80,000 (7000) 2006 10,000 2007 13,000 [10 Marks] Trade Creditors 29,000 Mortgage 10,000 Fixed Assets 50,000 Less: Depreciation (5,250) Short term advances 15,000 Accrued costs 8,000 7,500 Goodwill 5,000 nilStock Total 1, 26,750 1, 52,000 Total 37,000 1, 26,750 39,000 1, 52,000 Additional Information: 1. Devaluation gave is Rs. 1750. 2. Discount generosit y. 3. Profit paid Rs. 3500. Fall 2010 Master of Business Administration-MBA Semester 1 MB0041 †Financial and Management Accounting †4 Credits (Book ID :B1130) Assignment Set-2 (60 Marks) Note: Each question conveys 10 Marks. Answer all the inquiries. Q. 1 Explain the devices of Management bookkeeping? Marks] Q. 2 Find the commitment and benefit earned if the selling cost per unit is Rs. 25, variable expense per unit Rs. 20 and fixed cost Rs. ,05,000 for the yield of 80,000 units. [10 Marks] Q. 3 Explain the basic highlights of budgetary control? Marks] Q. 4 A huge retail locations makes 25% of its deals for money and the equalization on 30 days net. Because of defective assortment practice, there have been misfortunes from terrible obligations to the e xtent [10 of 1 % of credit deals on normal in the past.The experience of the store tells that ordinarily 60 % of credit deals are gathered in the month following the deal, 25% in the second after month and 14 % in the third after month. Deals in the previous three months have been January 2007 Rs. 80,000, February Rs. ,00,000 and March Rs. 1,40,000. Deals for the following three months are evaluated as April Rs. 1,50,000, May Rs. 1,10,000 and June Rs. 1,00,000. Set up a timetable of anticipated money assortment. [10 Marks] Q. 5 A processing plant chips away at standard costing framework. The standard assessments of material for the assembling of 1000 units of a ware are 400 kg at Rs. 2. 50 for every kg. At the point when 2000 units of a product are fabricated, it is discovered that 820 kgs of material is devoured at Rs. 2. 60 for each kg. Ascertain the material difference Marks] Q. 6 The Anchor Company Ltd creates the vast majority of its electrical parts in its own plant.The organization is at present thinking about the achievability of purchasing a section from an outside provider for Rs. 4. 5 for each part. In the event that this were done, month to month expenses would increment by Rs. 1,000 [10 Fa ll 2010 The part viable is made in Department 1 alongside various different parts. Because of stopping the creation of this part, Department 1 would have to some degree diminished activities. The normal month to month utilization creation of this part is 20,000 units. The expenses of creating this part on per unit premise are as per the following. Material Labor (half-hour) Fixed overheads Total costs Rs. 1. 80 2. 40 0. 80 5. 00 [10 Marks]