b) Prepare trading and profit & Loss account for the year ended 31st
March 2013 and balance sheet as on that date from the following of
M&Co.
Amount
Amount
Particulars
Particulars
GNANAMANI COLLEGE OF TECHNOLOGY
NAMAKKAL– 637 018
INTERNAL ASSESSMENT TEST II
Programme &
Branch
Course Code &
Name
Maximum
Marks
PG/Master of Business
Administration
BA5103 & ACCOUNTING
FOR MANAGEMENT
Examination
50
Duration
Year/
Semester
I/I
Date
14.11.2019
1 Hour 30 Min
Reg No.:
Q.No
1
2
ANSWER ALL QUESTIONS (5*2=10)
CO
BL
Questions
CO 1
L1 Define GAAP.
CO1
L2
3
CO1
L2
4
CO2
L1
5
CO2
L6
Sate the content in balance sheet.
Calculate time ratio with given information
account closing on 31.03.2018 incorporated
on 1.8.2017.
Mention the uses of pre-package accounting
software.
Write any two significance of accounting
software.
PART – B
ANSWER ALL QUESTIONS
Q.No
CO
BL
1.a)
CO1
L1
b)
CO1
L4
Marks
2
2
2
2
2
(13+13+14=40)
Questions
Marks
Discuss the prepackaged accounting
software mechanisms
Or
Explain the tools and Techniques used
in management accounting.
13
13
2.a) Vimala Ltd provided the following information as on 31st march 2009.
Particulars
Amount
Particulars
Amount
Gross Profit
15,70,000 EB charges
50,000
Salary
30,000 Packing Charges
70,000
Rent
60,000 Depreciation
1,20,000
Directors fee
90,000 Dividend received
2,40,000
Interest paid
1,70,000 Interim dividend
1,70,000
Profit on 31st April
5,10,00
Additional Information:
1. Final Dividend @20% on 23, 00,000 Equity share Capital,
2. Provision for general reserve 10% and
3. Provide on tax 40%.
Calculate Profit and Loss Appropriation Accounting
Capital
1,00,000
Creditors
24,400
Bank
4,000
Carriage
1,600
Cash in Hand
1000
Gas
4,400
Building
60,000
Debtors
30,000
Wages
30,000
Purchases Return
4,000
Salaries
20,000
Sales Return
3,000
Rent and Rates
3,600
Bills Receivable
8,000
Printing and stationary
2,400
Discounts(Cr)
800
16,000
Discount Allowed
Furniture
1,000
Stock (1.4.2012)
Purchases
Insurance
Machinery
Drawings
Land
1,40,000
1,600
24,000
16,000
27,000
Travelling Expenses
Loans
Bills Payable
Sales
6,000
3,600
20,000
20,000
2,50,000
Adjustment:
1. Closing Stock 20,000, 2. Insurance prepaid is Rs 400,
3.Interest on Capital@3%, 4.Provide depreciation for machinery
20% and furniture 10%, 5.Provide for doubtful debts @3% on
debtors and Rs1, 000 on Bad debts, 6. Outstanding Wages
Rs 1,600 and Salaries Rs1, 200.
3 a)The ultra-modern company ltd was incorporated on 1 may 2014
take over the business of MDR Ltd from 1 January 2014 and the
accounts are closed 31 December 2014.
Particulars
Gross Profit
Rent
EB charges
Salary
Directors fee
Auditor Fee
Commission paid
Advertisement
Amount
1,55,000
1,20,000
24,000
3,60,000
30,000
16,000
60,000
40,000
Particulars
Discount Allowed
Office Charges
Carriage
Bank Charges
Preliminary Expenses
Bad debts
Interest paid
Depreciation
Amount
35,000
75,000
30,000
15,000
65,000
20,000
30,000
25,000
Total Sale as on 31December 2014 Rs 50,00,000 and Sale upto ma 2014
Rs 15,00,000 and remaining post sale is 35,00,000.
2.a) Vimala Ltd was incorporated on 1 June 2008 and the accounts are
closed on December 2009 ever year calculate Profit and loss Pre and
Post Incorporation.
Particulars
Amount
Particulars
Amount
Gross Profit
15,70,000 EB charges
50,000
Salesmen Incentive
30,000 Packing Charges
70,000
Rent
60,000 Depreciation
1,20,000
Warehouse Rent
90,000 Salary
2,40,000
Interest paid
1,70,000 Director Fee
1,70,000
Total Sale as on 31December 2009 Rs 5,00,000 and Sale upto ma 2014
Rs 1,50,000 and remaining post sale is 3,50,000.
Subject Incharge
Course Coordinator
HoD