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Posted Date: 27 Apr 2009      Posted By:: vinoth    Member Level: Bronze    Points: 5 (Rs. 1)

2008 Bharathiar University B.Com Management Accounting Question paper



Course: B.Com   University/board: Bharathiar University





B.com DEGREE EXAMINATION
Sixth Semester
Part III- Computer Applications
April. 2009
Management Accounting

Time: 3 Hours Maximum 75 Marks

Answer ALL Questions
Section – A (10 x 1 = 10 Marks)
1. The purpose of management accounting is to help the management
(a). In profitable management of the business
(b). By providing significant economic and financial data
(c). In the speedy growth of the business

2. Vertical analysis of financial statement reveals the concerns
(a) Progress (b) Position (c) Prospects

3. When the current ratio is 4:1 and the amount of current liabilities is Rs. 12,000, what is the amount of working capital
(a). Rs. 48,000 (b). Rs 36,000 (c) Rs. 30000 (d). Rs. 60000

4. Return on Investments ratio measures of a business
(a) Profitability (b) Liquidity (c) Safety

5. The term current assets does not include
(a) Payment in advance (b) Bills Receivable (c) Good will

6. An increase in the share premium account is
(a) Application of funds (b) Sources of funds (c) No flow funds

7. Cost – Volume – Profit refers to
(a) Break even analyses (b) Financial analyze (c) cash

8. Marginal costing techniques helps in __________
(a) make or by decision (b) budgets (c) to know working capital

9. Which of the following is functional budget?
(a) Sales budget (b) current budget (c) flexible budget

10. Father of Zero base budgeting
(a) Mr. Zimmy carter (b) Robert N. Antony (c) Malcomn

Section - B (5 x 5=25 Marks)

11. (a). State the objectives of Management Accounting.
(or)
(b). Explain the different types of financial Statement Analysis

12. (a) From the following details, find out:
(i). Current Assets and (ii) Current Liabilities
Current Ratio – 2.5, Working Capital = Rs.90,000
(or)
(b). From the following compute the value of Stock
Sales – Rs.10,00,000, Gross Profit – 25 %, Stock Turnover Ratio – 10
Closing stock is more than opening stock by Rs.25,000.






13. (a). Calculate funds from operations from the following profit and loss account.
Profit and loss account
Rs. Rs.
To Salaries 10,000 By Gross Profit 2,00,000
To Rent 3,000 By Profit on Sale
To Commission 2,000 of Machine 5,000
To Discount allowed 1,000 By Refund of Tax 3,000
To Provision for depreciation 14,000 By Dividend received 2,000
To Transfer to General Reserve 20,000
To Loss on sale of Investments 5,000
To Discount on Issue of debentures 2,000
To Preliminary expenses 3,000
To Selling expenses 20,000
To Net profit 1,20,000
--------------- ------------
2,10,000 2,10,000
---------------- ------------
(or)
(b). What are the types of working capital ?

14. (a). Prepare a Marginal Cost Statement from the following details:

Particulars Rs.
Variable Cost:
Direct Materials
Direct Wages
Factory Overheads

Fixed Cost:
Administrative Expenses

Total Cost
Profit
Sales
9,000
5,000
3,000
17,000

2,500
19,500
10,500
30,000












(or)
(b). Find out profit from the following data;
Sales Rs. 80,000; Marginal cost Rs. 60,000; Break even sales Rs. 60,000

15. (a). Prepare a production budget for 3 months ending March 31, 1999 for a factory producing 4 products, on the basis of the following information
Type of Product Estimated Stock on
Jan.1 1999 (units) Estimated Sales during Jan-Mar’99 (units) Desired Closing Stock on Mar’31 1999 (units)
A 2,000 10,000 3,000
B 3,000 15,000 5,000
C 4,000 13,000 3,000
D 3,000 12,000 2,000
(or)
(b). From the following information calculate
(i). Labour Cost Variance and (ii) Labour rate variance
Standard hours 40 at Rs.3 per hour, Actual hours 50 at Rs.4 per hour.

Section - C (5 x 8=40 Marks)
16. (a). Distinguish between Financial Accounting and Management Accounting.
(or)
(b). The following are the balance sheet of a concern for the year 1981 and 1982. Prepare a comparative balance sheet and study the financial position of the concern.


Balance sheet as on 31st December
Liabilities 1981 1982 Assets 1981 1982
Equity share capital
Reserves & surplus
Debentures
Long term loans on mortgage
Bills payable
Sundry creditors
Other current liabilities 6,00,000
3,30,000
2,00,000

1,50,000
50,000
1,00,000

5,000 8,00,000
2,22,000
3,00,000

2,00,000
45,000
1,20,000

10,000 Buildings
Machinery
Furniture
Other fixed assets
Cash in hand
Bills receivable
Sundry debtors
Stock
Prepaid expenses 3,70,000
4,00,000
20,000
25,000

20,000
1,50,000
2,00,000
2,50,000
- 2,70,000
6,00,000
25,000
30,000

80,000
90,000
2,50,000
3,50,000
2,000

14,35,000 16,97,000 14,35,000 16,97,000

17. (a). The following is the Balance Sheet of a company as on 31st March.:
LIABILITIES Rs. ASSETS Rs.
Share capital
Profit and Loss account
General Reserve
12% Debentures
Sundry Creditors
Bills Payable 2,00,000
30,000
40,000
4,20,000
1,00,000
50,000 Land and Buildings
Plant and Machinery
Stock
Sundry debtors
Bills receivable
Cash at bank 1,40,000
3,50,000
2,00,000
1,00,000
10,000
40,000
Calculate: (i). Current ratio; (ii). Quick ratio (iii) Proprietary ratio (iv).Capital gearing ratio
(or)
(b). From the following information, prepare a balance sheet. Show the workings.
(i) working capital Rs.75,000
(ii) Reserves and surplus Rs.1,00,000
(iii) Bank overdraft Rs.10,000
(iv) Current ratio - 2.5
(v) Liquid ratio - 1.5
(vi) Fixed assets to proprietor’s fund 0:75
(vii) Long term liabilities – Nil.

18. (a). From the following balance sheets of X ltd. on 31st December, 2005 and 2006, you are required to prepare.
(i) A schedule of changes in working capital and (ii) A funds flow statement
Liabilities 2005
Rs. 2006
Rs. Assets 2005
Rs. 2006
Rs.
Share capital
Reserve
Profit and loss
Creditors
Bills payable
Prov.for tax
Prov.for doubtful debts.
1,00,000
14,000
16,000
8,000
1,200
16,000

400
1,00,000
18,000
13,000
5,400
800
18,000

600
Goodwill
Building
Plant
Investments
Stock
Bills receivable
Cash at bank

12,000
40,000
37,000
10,000
30,000
2,000
6,600


12,000
36,000
36,000
11,000
23,400
3,200
15,200

1,55,600 1,55,800 1,55,600 1,55,800
The following additional information has also been given:
(i) Depreciation charged on plant was Rs.4,000 and on building Rs.4,000
(ii) Provision for taxation of Rs.19,000 was made during the year 2006.
(iii) Interim dividend of Rs.8,000 was paid during the year 2006.
(or)

(b). The balance sheets as on 31st December 2006 and 2007 are as follows:
Liabilities 2006
Rs. 2007
Rs. Assets 2006
Rs. 2007
Rs.
Share Capital
Debentures
Creditors
Prov. for debts
Profit & Loss A/c 70,000
12,000
10,360
700
10,040 74,000
6,000
11,840
800
10,560 Cash
Debtors
Stock
Land
Good will 9,000
14,900
49,200
20,000
10,000 7,800
17,700
42,700
30,000
5,000
1,03,100 1,03,200 1,03,100 1,03,200
Additional Information: (i). Dividend Paid Rs.3,500, (ii). Land was purchased Rs.10,000, (iii) Good will written off Rs.5,000, and (iv) Debentures redeemed Rs.6,000. Prepare a Cash Flow Statement.

19. (a). (a). The sales turnover and profit during two years were as follows:
Period Sales (Rs.) Profit (Rs.)
1 1,40,000 15,000
2 1,60,000 20,000
Calculate: (i) P/V Ratio, (ii) Break-Even Point,(iii) Fixed Expenses and (iv) Profit when sales are Rs.1,20,000. (or)
(b). From the following figures, calculate:
(i) Contribution (ii) Profit Volume Ratio (iii) Break Even Sales (iv) Margin of Safety and (v) Sales to earn a profit of Rs.1,20,000
Sales Rs. 6,00,000; Variable costs-Rs.3,75,000; Fixed Costs – Rs.1,80,000.

20. (a). The following information relates to a flexible budget at 60 % capacity. Find out the overhead costs at 50 % and 70 % capacity and also determine the overhead rates:
Expenses at 60% capacity.
Variable overheads: Rs.
Indirect Labour 10,500
Indirect materials 8,400
Semi Variable Overheads:
Repairs and Maintenance (70% Fixed) 7,000
Electricity (50% fixed, 50% Variable) 25,200
Fixed Over heads:
Office expenses including salaries 70,000
Insurance 4,000
Depreciation 20,000
Estimated direct labour hours 1,20,000.

(or)
(b). Prepare a cash budget for months of March to August 2000 are as follows:
Months Sales(credit) Rs. Purchase (Credit ) Rs. Wages (Rs.) Manufacturing expenses (Rs.) Admin. Expenses (Rs.) Selling expenses (Rs.)
March 60000 36000 9000 3500 2000 4000
April 62000 38000 8000 3750 1500 5000
May 64000 33000 10000 4000 2500 4500
June 58000 35000 8500 3750 2000 3500
July 56000 39000 9500 5000 1000 3500
August 60000 34000 8000 5200 1500 4500
You are given th e following further information:
a) Plant costing Rs. 16,000 is due for delivery in June payable 10% on delivery and the balance after three months.
b) Advance tax of Rs 8,000 is payable in March and June each.
c) Creditors allow 2 months credit and debtors are paying in one month late.
d) Opening balance of cash Rs. 8,000.
e) Lag of one month in expenses.
**********





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