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Thursday, November 26, 2015





Roll No…….
Total No. of Questions: 09   

          MCA (Sem.-1st)
ACCOUNTING AND FINANCIAL MANAGEMENT
SUBJECT CODE: MCA-104(2012 Batch)
Paper ID: [B0131]

Time: 3 Hrs.                                                                 Max. Marks: 100
Instruction to Candidates:
1.     Attempt one question each from Section-A, B, C, & D. Each question carry Twenty marks.
2.     Attempt entire Section-E. Each question in this section in this carries Two marks.

SECTION-A
1.     Explain the concepts and convections of accounting.
2.     From the following balances, prepare the profit and Loss account and Balance sheets of  IS traders as on March 31, 2013.
Debit
Balances
Amount Rs.
Credit balances
Amount Rs.
Drawings
6,300
Capital
1,55,000
Cash at bank
14,000
Discount received
3,150
Bill receivable
1,900
Loans
10,000
Land and Building
42,600
Purchases return
2,500
Furniture
5,140
Sales
2,90,000
Discount allowed
4,000
Reserve for bad debts
5,650
Bank charges
200
Creditors
18,670
Salaries
6,520


Purchases
2,05,000


Stock (opening)
60,000


Sales Return
1,910


Carriage
5,190


Rent and Taxes
7,750


General expenses
3,610


Plant and Machinery
31,700


Book debts
82,840


Bad debts
1,460


Insurance
4,850



4,84,970

4,84,970

SECTION-B
3.     Define Financial Management Describe in brief various functional areas of Financial Management.
4.     Below given is the Profit account and Balance Sheet of Jeet Electronics.
Particulars
Amount (Rs.)
Sales
7,50,000
Interest Income
15,000
Gain on sale of investments
45,000
Total income 1st March 2013
8,10,000
Expenses

Cost of Goods sold
5,25,000
Depreciation
60,000
Selling and Administrative Expenses
35,000
Interest Expense
15,000
Loss on Sale of Plant and Machinery
20,000
Total Expense
6,55,000
Profit Before income Rs.
1,55,000
Profit Before income tax
77,500
Less income Tax
77,500
Profit after Tax
77,500

Balance sheet of Jeet electronics As on 31st March, 2013
Particulars
Amount(Rs.)
Sales
7,50,000
Interest Income
15,000
Balance sheet of Jeet Electronics Gain on sale of Investments
45,000
Total Income March 2013
8,10,000
Expenses

Cost of Goods sold
5,25,000
Depreciation
60,000
Selling and Administrative Expenses
35,000
Interest Expense
15,000
Loss and Sale of Plant and Machinery
20,000
Total Expenses
6,55,000
Profit Before Income Tax
1,55,000
Less Income Tax
77,500
Profit after Tax
77,500
Balance Sheet of Jett electronics As on 31st March, 2013
Particulars
2013
Sources of Funds

Shareholder’s Funds

Equity share capital
1,85,000
Profit and Loss Account
80,000
Total Shareholder’s Funds
2,10,000
Loan funds

Current Liabilities
30,000
Bills Payable
1,30,000
Creditors
1,60,000
Total Current Liabilities
6,35,000
Total

Application of Funds
1,90,000
Fixed Assets
90,000
Investments

Current Assets

Inventories
1,25,000
Debtors
95,000
Cash
1,45,000
Total
6,45,000

You are require to calculate Profitability and solvency ratios.
SECTION-C
5.     What do you mean by Marginal Costing? Also explain the nature and importance of Marginal Costing?
6.     How does standard costing help in controlling production cost? Also discuss in brief various kings of variances.
SECTION-D
7.     Compare and contrast any two computer programs meant for maintenance of financial accounts.
8.     How computer based auditing is different from manual auditing? Also explain the process of computer based audit.

SECTION-E
9.     Write note on each of the following:
(a)  Money Measurement Concept
(b) Financial Statements
(c)  Return on Equity Ratio
(d) Cash from financing activities
(e)  Angle of incidence
(f)   Break Even point
(g)  Flexible Budget
(h) Variable Cost
(i)    Representative Personal Account
(j)    Fund Flow Statement.       



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