Wednesday, December 30, 2015

Subject :FINANCIAL AND MANAGEMENT ACCOUNTING,Madras University Question Paper,Subject Code:PXE

Madras University Question Paper
Subject Code:PXE
OCTOBER 2011 U/ID 5208/PXE
Time : Three hours Maximum : 100 marks
SECTION A — (10 × 3 = 30 marks)
Answer ALL questions.
All questions carry equal marks.
1. (a) Define Accounting.
 (b) Define Ledger.
 (c) What is Petty cash book?
 (d) What is Balance Sheet?
 (e) What is Financial Statement Analysis?
 (f) Write short notes on Trend Analysis.
  (g) What do you understand by Operating Ratios?
 (h) State any four limitations of Ratio Analysis.
  (i) What is Budgetary Control?
 (j) Define Marginal Costing.
SECTION B — (5 × 6 = 30 marks)
Answer any FIVE questions.
All questions carry equal marks.
2. What are the differences between Cost Accounting and
Management Accounting?
3. Explain the main tools of Management Accounting.
4. Explain any four accounting concepts.
5. What are the advantages of Subsidiary books?
6. Give a description of profitability ratios.
7. What is Contribution? Explain its importance.
8. What is Cash flow statement? What are its uses?
SECTION C — (2 × 20 = 40 marks)
Answer BOTH questions.
All questions carry equal marks.
9. (a) From the following Trial balance, prepare Trading, Profit
and Loss A/c for the year ended 31.12.2008 and a Balance
Sheet as on that date :
Trial Balance
 Rs. Rs.
Purchase 11,870 Capital 8,000
Debtors 7,580 Bad debts recovered 250
Returns inward 450 Creditors 1,250
 Rs. Rs.
Bank deposit 2,750 Returns outwards 350
Rent 360 Bank overdraft 1,570
Salaries 850 Sales 14,690
Traveling expenses 300 Bills payable 1,350
Cash 210
Stock 2,450
Discount allowed 40
Drawings 600
 27,460 27,460
 Adjustments :
 (i) The closing stock on 31.12.2008 was Rs. 4,200.
 (ii) Write off Rs. 80 as bad debts and create a reserve for
bad debts at 5% on sundry debtors.
 (iii) Three month rent is outstanding.
 (b) Following are the Balance Sheets of a partnership firm :
Liabilities 1.4.2008 31.3.2009 Assets 1.4.2008 31.3.2009
 Rs. Rs. Rs. Rs.
Partner’s capital 88,000 1,32,000Cash 4,800 4,000
General reserve 6,000 9,000Debtors 36,500 39,100
P & L A/c 19,500 20,800Stock 22,100 26,000
Loan – 26,000Furniture 2,400 1,500
Creditors 43,300 47,300Machinery 35,600 51,300
Building 55,400 1,13,200
1,56,800 2,35,100 1,56,800 2,35,100
 Depreciation written off during the year was as under :
 Machinery – Rs. 12,800; Furniture – Rs. 400.
 Prepare Fund flow statement.
 10. (a) For the production of 10,000 units the following are
budgeted expenses :
 Per Unit
Materials 70
Labour 25
Variable overheads 20
Fixed overheads (Rs. 1,00,000) 10
Variable expenses (Direct) 5
Selling expenses (10% fixed) 13
Distribution expenses (20% fixed) 7
Administration expenses (Rs. 50,000 fixed) 5
Total cost 155
 Prepare a Flexible budget for the production of 8,000 units.
 (b) You are given the following information :
 Output and sales (10,000 units) – Rs. 2,00,000
 Variable cost per unit – Rs. 12
 Fixed cost – Rs. 40,000
 It is proposed to reduce the selling price by 10%.
 (i) Calculate present and future P/V ratio.
 (ii) Calculate present and future break-even points.
 (iii) Compute the sales volume to maintain the present
profit level.
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