Solapur University Question Paper
M.B.A. (Part – I) (Semester – I) Examination, 2014
ACCOUNTING FOR MANAGEMENT (Paper – II)
Day and Date : Wednesday, 28-5-2014 Max. Marks : 70
Time : 3.00 p.m. to 6.00 p.m.
Instructions : 1) Q.No. 1 is compulsory.
2) Attempt any two questions from Q. No. 2 to Q. No. 4.
3) Attempt any two questions from Q. No. 5 to Q. No. 7.
1. From the following Trial Balance of Premier Traders, prepare Trading and Profit
and Loss Account for the year 31st Mar. 2012 and Balance Sheet as on that
date. 14
Particulars Debit (Rs.) Particulars Credit (Rs.)
Plant and machinery 13,000 Capital 25,000
Buildings 17,000 Loans 5,000
Receivables 9,650 Sales 35,000
Purchases 18,000 Accounts payable 4,000
Discount allowed 1,200 Bills payable 5,000
Wages 7,000 Purchase returns 2,000
Salaries 3,000 Dividends received 3,000
Travelling expenses 750
Freight 200
Insurance 300
Commission paid 100
Cash 100
Bank 1,600
Repairs 500
Interest on loan 600
Stock 6,000
79,000 79,000
Seat
No.
SLR-XY – 2 -2-
Additional information :
1) Closing inventory Rs. 8,000
2) Depreciation is to be provided on-plant and machinery – 15%, Buildings – 10%.
3) Provision for doubtful receivables Rs. 500.
4) Prepaid insurance Rs. 50.
5) Outstanding rent Rs. 100.
2. A) Determine the various uses of computerized accounting. 7
B) Journalise the following transactions in the book of Mr. Mohan for the month
of April 2012. 7
02 Mohan commenced business with cash Rs. 10,000 and furniture of Rs. 5,000.
04 He took loan from bank Rs. 5,000
07 Purchased goods from Anand Rs. 7,000 and from Vijay Rs. 3,000.
11 Sold goods to Arvind for cash Rs. 2,000 and on credit Rs. 3,000.
15 Paid Vijay on account by cheque Rs. 3,000.
18 Received a cheque from Arvind and deposited the same into bank Rs. 2,000
21 Commission due to Sunil Rs. 100.
25 Drew for office use Rs. 500.
27 Paid salaries Rs. 500, rent Rs. 800 and electricity charges Rs. 200.
30 Arvind declared insolvent and 50 paisa in the rupee is received in the full
settlement.
3. A) On 1st April, 2010, ABC company purchased a machinery for Rs. 2,00,000.
On 1st October, 2010, additional machinery costing Rs. 1,00,000 was
purchased. On 1st October, 2010, the machinery purchased on 1st April, 2010
was sold for Rs. 90,000.
On 1st October, 2012, new machinery was purchased for Rs. 2,50,000, while
the machinery purchased on 1st October, 2010 was sold for Rs. 85,000 on the
same day.
The company provides depreciation on the machinery @10% p.a. on original
cost. It closes its book of accounts on 31st March every year. Show machinery
account for three accounting years ending on 31st March, 2013. 7
-3- SLR-XY – 2
B) Prepare a stores ledger account from the following transactions under the
FIFO method :
January 2013
1 Opening stock of 1000 units at Rs. 10 each
3 Purchased 260 units at Rs. 15 each
7 Issued 700 units
9 Purchased 1500 units at Rs. 30 each
11 Issued 1500 units
20 Issued 400 units
25 Purchased 450 units at Rs. 25 each
27 Issued 200 units
Find out the stock as on 31st January, 2013. 7
4. Write short notes (any two) : 14
1) Subsidiary books
2) Cost center
3) Trial balance.
5. Explain accounting concepts in detail. 14
6. The following particulars have been extracted from books of M. Manufacturing
Co. Ltd. Pune, for the year ended 31st Mar. 2012.
Stock of material (opening) 47,000
Stock of material (closing) 50,000
Material purchased 2,08,000
Carriage inward 8,200
Carriage outward 5,000
Discount allowed 3,500
Repairs to plant and machinery 10,600
Tax and insurance (factory) 3,000
Tax and insurance (office) 1,000
Sales promotion expenses 3,000
Production wages 1,40,000
Work in process 70,000
SLR-XY – 2 -4-
Finished goods 90,000
Depreciation on tools 7,100
Depreciation on furniture 600
Directors fees 6,000
Electricity charges (office) 1,500
General charges 5,000
Managers salary 12,000
Work in process (closing) 60,000
Finished goods (closing) 80,000
Sales 4,50,000
Prepare a cost sheet for the company. 14
7. Enter the following transactions in a three column cash book. 14
Date Particulars
April, 2013
1 Commenced business with cash of Rs. 10,000
2 Opened a bank account and deposited Rs. 8,000
3 Arun paid us Rs. 490 in full settlement of Rs. 500
5 Bought goods for cash Rs. 1,500
8 Draw a cheque for personal use Rs. 200
10 Draw for office use Rs. 1,000
12 Bought goods for Rs. 1,500 and paid by cheque immediately
15 Received for cash sales Rs. 1,000
16 Received a cheque from Mr. B for Rs. 500
17 Paid Mr. B’s cheque into the bank
20 Paid salaries by cheque Rs. 500
23 Mr. M directly paid into our bank account Rs. 1,000
24 Paid Mr. N Rs. 495 in full settlement of Rs. 500
26 Received commission Rs. 100
27 Cash withdrawn for personal use Rs. 100
29 Cash Rs. 600 deposited into bank
30 Transferred from saving account to current account Rs. 2,000.
————————
M.B.A. (Part – I) (Semester – I) Examination, 2014
ACCOUNTING FOR MANAGEMENT (Paper – II)
Day and Date : Wednesday, 28-5-2014 Max. Marks : 70
Time : 3.00 p.m. to 6.00 p.m.
Instructions : 1) Q.No. 1 is compulsory.
2) Attempt any two questions from Q. No. 2 to Q. No. 4.
3) Attempt any two questions from Q. No. 5 to Q. No. 7.
1. From the following Trial Balance of Premier Traders, prepare Trading and Profit
and Loss Account for the year 31st Mar. 2012 and Balance Sheet as on that
date. 14
Particulars Debit (Rs.) Particulars Credit (Rs.)
Plant and machinery 13,000 Capital 25,000
Buildings 17,000 Loans 5,000
Receivables 9,650 Sales 35,000
Purchases 18,000 Accounts payable 4,000
Discount allowed 1,200 Bills payable 5,000
Wages 7,000 Purchase returns 2,000
Salaries 3,000 Dividends received 3,000
Travelling expenses 750
Freight 200
Insurance 300
Commission paid 100
Cash 100
Bank 1,600
Repairs 500
Interest on loan 600
Stock 6,000
79,000 79,000
Seat
No.
SLR-XY – 2 -2-
Additional information :
1) Closing inventory Rs. 8,000
2) Depreciation is to be provided on-plant and machinery – 15%, Buildings – 10%.
3) Provision for doubtful receivables Rs. 500.
4) Prepaid insurance Rs. 50.
5) Outstanding rent Rs. 100.
2. A) Determine the various uses of computerized accounting. 7
B) Journalise the following transactions in the book of Mr. Mohan for the month
of April 2012. 7
02 Mohan commenced business with cash Rs. 10,000 and furniture of Rs. 5,000.
04 He took loan from bank Rs. 5,000
07 Purchased goods from Anand Rs. 7,000 and from Vijay Rs. 3,000.
11 Sold goods to Arvind for cash Rs. 2,000 and on credit Rs. 3,000.
15 Paid Vijay on account by cheque Rs. 3,000.
18 Received a cheque from Arvind and deposited the same into bank Rs. 2,000
21 Commission due to Sunil Rs. 100.
25 Drew for office use Rs. 500.
27 Paid salaries Rs. 500, rent Rs. 800 and electricity charges Rs. 200.
30 Arvind declared insolvent and 50 paisa in the rupee is received in the full
settlement.
3. A) On 1st April, 2010, ABC company purchased a machinery for Rs. 2,00,000.
On 1st October, 2010, additional machinery costing Rs. 1,00,000 was
purchased. On 1st October, 2010, the machinery purchased on 1st April, 2010
was sold for Rs. 90,000.
On 1st October, 2012, new machinery was purchased for Rs. 2,50,000, while
the machinery purchased on 1st October, 2010 was sold for Rs. 85,000 on the
same day.
The company provides depreciation on the machinery @10% p.a. on original
cost. It closes its book of accounts on 31st March every year. Show machinery
account for three accounting years ending on 31st March, 2013. 7
-3- SLR-XY – 2
B) Prepare a stores ledger account from the following transactions under the
FIFO method :
January 2013
1 Opening stock of 1000 units at Rs. 10 each
3 Purchased 260 units at Rs. 15 each
7 Issued 700 units
9 Purchased 1500 units at Rs. 30 each
11 Issued 1500 units
20 Issued 400 units
25 Purchased 450 units at Rs. 25 each
27 Issued 200 units
Find out the stock as on 31st January, 2013. 7
4. Write short notes (any two) : 14
1) Subsidiary books
2) Cost center
3) Trial balance.
5. Explain accounting concepts in detail. 14
6. The following particulars have been extracted from books of M. Manufacturing
Co. Ltd. Pune, for the year ended 31st Mar. 2012.
Stock of material (opening) 47,000
Stock of material (closing) 50,000
Material purchased 2,08,000
Carriage inward 8,200
Carriage outward 5,000
Discount allowed 3,500
Repairs to plant and machinery 10,600
Tax and insurance (factory) 3,000
Tax and insurance (office) 1,000
Sales promotion expenses 3,000
Production wages 1,40,000
Work in process 70,000
SLR-XY – 2 -4-
Finished goods 90,000
Depreciation on tools 7,100
Depreciation on furniture 600
Directors fees 6,000
Electricity charges (office) 1,500
General charges 5,000
Managers salary 12,000
Work in process (closing) 60,000
Finished goods (closing) 80,000
Sales 4,50,000
Prepare a cost sheet for the company. 14
7. Enter the following transactions in a three column cash book. 14
Date Particulars
April, 2013
1 Commenced business with cash of Rs. 10,000
2 Opened a bank account and deposited Rs. 8,000
3 Arun paid us Rs. 490 in full settlement of Rs. 500
5 Bought goods for cash Rs. 1,500
8 Draw a cheque for personal use Rs. 200
10 Draw for office use Rs. 1,000
12 Bought goods for Rs. 1,500 and paid by cheque immediately
15 Received for cash sales Rs. 1,000
16 Received a cheque from Mr. B for Rs. 500
17 Paid Mr. B’s cheque into the bank
20 Paid salaries by cheque Rs. 500
23 Mr. M directly paid into our bank account Rs. 1,000
24 Paid Mr. N Rs. 495 in full settlement of Rs. 500
26 Received commission Rs. 100
27 Cash withdrawn for personal use Rs. 100
29 Cash Rs. 600 deposited into bank
30 Transferred from saving account to current account Rs. 2,000.
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