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Posted By: Jyothi Member Level: Diamond Posted Date: 04 Mar 2008
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2007 Bangalore University B.Com Management Accounting Question paper
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VI Semester B.Com. Examination, May/June 2007
(Semester Scheme)
COMMERCE (Paper - 6.3)
Management Accounting
Time : 3 Hours Max. Marks : 90
Instruction : Answer should be fully either in English or in Kannada.
SECTION - A
1. Answer any ten questions. Each question carries 2 marks. (10x2=20)
a) State any four functions of Management Accountant.
b) What do you mean by “Dept Equity Ratio” ?
c) Closing stock os a company is Rs. 2,00,000. Total liquid assets are Rs. 10,00,000. Liquid Ratio is 2:1. Find our working capital.
d) Cost of goods sold is Rs. 2,40,000. Stock turnover ratio is 6 times.
Opening stock is Rs. 6,000 more than closing stock. Calculate opening stock.
e) What is common size of statement ?
f) Define “Fund Flow Statement”.
g) Given : Current Ration is 3.75, working capital is Rs. 3,57,500. Calculate the amount of Current Assets and Current Liabilities.
h) Mention two objectives of management reporting.
i) What is funds from operation ?
j) State the significance of Acid Test Ratio.
k) Write a note on “Trend Analysis”.
l) State any two uses of cash flow statement.
SECTION - B
Answer any five questions. Each question carries 5 marks. (5x5=25)
2. From the following Profit and Loss Accounts of X Co. Ltd. for the year ended 31-3-2005 and 31-3-2006. Prepare a Comparitive Income Statement and give your comments.
Rs. In lakhs
Particulars 31-3-2005 31-3-2006 Particulars 31-3-2005 31-3-2006
To cost of goods sold 1,200 1,500 By Net sales 1,600 2,000
To Operating expenses
Administration 40 40
Selling Exp. 60 80
To net profit 300 380
1600 2000 1600 2000
3. Analyse the managerial uses of Fund Flow Analysis.
4. Explain the role of Ratio Analysis in Financial Decision Making.
5. Distinguish between Fund Flow Statement and Cash Flow Statement.
6. Discuss the general principles to be obtained while preparing reports.
7. X Ltd. has a quick ratio of 3:1 and Current liabilities of Rs. 1,00,000. Stock in trade is Rs. 50,000. Find out its Current Assets and Current Ratio.
8. From the following Balance Sheet of MNP Co. Ltd. prepare a Statement of Sources and Application of Funds.
Assets 31st March 2005 31st March 2006
Cash in hand and at bank 70000 150000
Accounts receivable 196000 180000
Stock 174000 240000
Land 40000 60000
Long-term investments 30000 20000
510000 650000
Capital and Liabilities
Equity share capital 250000 300000
Accounts payable 140000 200000
General reserve 120000 150000
510000 650000
9. Calculate Creditors Turnover Ratio from the following information given below :
Opening creditors Rs. 50000
Purchase returns Rs. 10000
Cash paid to creditors Rs. 260000
Closing creditors Rs. 30000
SECTION - C
Answer any 3 questions. Each question carries 15 marks. (15x3=45)
10. Using the following data, complete the balance sheet below :
Gross profit (20% on sales) Rs. 120000
Shareholders equity Rs. 100000
Credit sales to total sales 80%
Total assets turn-over 3 times
(sales / total assets)
Inventory turnover 8 times
(to cost of sales)
Average collection period 18 days.
(360 days in a year)
Current Ratio 1 : 6
Long term debt to equity 40%
Balance Sheet
Liabilities Amount Assets Amount
Shareholder Equity --- Fixed assets ---
Long term debts --- Sundry debtors ---
Sundry creditors --- Inventory ---
Cash ---
Total Rs. --- Total Rs. ---
11. The following are the Balance Sheet of a concern for the year 2005 and 2006. Prepare a comparative Balance Sheet and study the financial position of the concern.
X Co. Ltd.
2005 2006 2005 2006
Equity share capital 1200000 1600000 Land & Building 740000 540000
Reserves and surplus 660000 444000 Plant & machinery 800000 1200000
Debentures 400000 600000 Furniture & Fixtures 40000 50000
Long term loans Other fixed assets 50000 60000
On mortgage 300000 400000 Cash in hand and
Bills payable 100000 90000 at bank 40000 160000
Sundry creditors 200000 240000 Bills receivable 300000 180000
Other current Sundry Debtors 400000 500000
Liabilities 10000 20000 Stock 500000 700000
Prepaid expenses 4000
2870000 3394000 2870000 3394000
12. From the following Balance Sheets of ABC Co. Ltd. make out the statement of sources and uses of cash under Indirect method (As per accounting standards).
Liabilities 2005 2006 Assets 2005 2006
E.S. capital 600000 800000 Goodwill 230000 180000
9% P.S. capital 300000 200000 Land & Building 400000 340000
Gen. reserve 80000 140000 Plant 160000 400000
Profit & loss 60000 96000 Stock 154000 218000
Proposed dividend 84000 100000 Debtors 320000 400000
Creditors 110000 166000 Bills recoverable 40000 60000
Bills payable 40000 32000 Cash in hand 30000 20000
Provision for taxation 80000 100000 Cash at bank 20000 16000
1354000 1634000 1354000 1634000
Additional information :
a) Depreciation of Rs. 20000 and Rs. 40000 have been charged on plant and land and building respectively in 2006.
b) An interim dividend of Rs. 40000 has been paid in 2006.
c) Rs. 70000 income-tax was paid during the year 2006.
13. The following are the summaries of the Balance Sheets of a Limited company on at 31st December 2005 and 31st December 2006.
Liabilities 31-12-2005 31-12-2006 Assets 31-12-2005 31-12-2006
Equity share capital 300000 400000 Goodwill 60000 55000
10% Preference Land & Building 125000 85000
share capital
(Redeemable) 80000 50000 Plant & Machinery 120000 225000
Capital Reserve --- 20000 Furniture 15000 12000
General Reserve 30000 40000 Trade investments 12000 48000
Profit & Loss A/c 26000 35000 Sundry Debtors 65000 105000
Sundry Creditors 30000 58000 Stock 90000 84000
Bills payable 12000 8000 Bills receivable 16000 30000
Outstanding exp. 6000 5000 Cash in hand 13000 20000
Proposed dividend 30000 42000 Cash at Bank 15000 20000
Provision for taxation 32000 36000 Preliminary exp. 15000 10000
546000 694000 546000 694000
Additional information :
1) A piece of land has been sold in 2006 and the balance has been revalued.
Profits on sale and revaluation being transferred to Capital Reserve Account.
2) Depreciation on plant and machinery has been written off Rs. 24000 and no depreciation has been charged on land and buildings.
3) A machinery was sold for Rs. 16000 (w.d.v. being Rs. 20000) and no furniture has been sold during the year.
4) An interim dividend of Rs. 20000 has been paid in 2006.
5) Rs. 3000 has been received as dividend on Trade Investments.
Prepare a statement of changes in working capital and a Fund Flow Statement for the year 2006.
14. “Accounting reports are a matter of necessity for the management and not a matter of convenience” Explain.
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