Name of the University : Alagappa University
Degree : M.C.om
Subject Code/Name : Accounting And Financial Management
Semester : II
Document Type : Model Question Papers
Website : alagappauniversity.ac.in
Download Model/Sample Question Paper : APRIL 2011 :https://www.pdfquestion.in/uploads/alagappauniversity.ac.in/4040.-M.Com%20..pdf
Accounting & Financial Management :
Time : 3 Hours
Maximum : 75 Marks
Part A :
Related : Alagappa University Corporate Communication B.Com Model Question Papers : www.pdfquestion.in/3973.html
1. Define a Ledger.
2. What do you mean by a Trial Balance –
3. What is ABC analysis –
4. What is EOQ –
5. What is Break Even Analysis –
6. Define Marginal Costing.
7. What is Budgetary control.
8. What is Key factor –
9. What is common size Balance sheet –
10. What is Trend analysis –
Part B : (5 × 5 = 25)
Answer all the questions.
11. (a) From the following transaction of Prakash in Double column cash book :
Rs. 2008 July 1 Balance of cash in hand 1,600
2 Paid Mohan (discount allowed) Rs. 20 780
3 Cash sales 400
4 Received from Ram (discount allowed Rs. 15) 400
5 Received from Anand (in full settlement of his debt of Rs, 600) 570
(Or)
(b) Pass rectification entries to rectify the following entries :
1 An amount of Rs. 200 withdrawn by the proprietor for his personal use has been debited to trade expenses account.
2 Discount column of cash book debit side was undercast by Rs. 80.
3 Wages paid for the construction of office debited to wages account Rs. 1,500.
4 An amount of Rs. 150 paid for wages is posted twice to the debit of wages account.
5 A cheque of Rs. 750 received from L. Raja was credited to the Account of T. Raja and debited correct by to cash account.
12. (a) Calculate labour cost per day of 8 hours
(i) Monthly wages Rs. 225
(ii) Leave wages 5% of salary
(iii) Employers contribution to Provident Fund 8¾% of (i) and (ii).
(iv) Employees contribution to Provident Fund 8¾ of (i).
(v) Labour Welfare expenses Rs. 28 per head per month.
(vi) Number of working hours in a month 200 (Assume 8 hour day)
(Or)
(b) A worker completes a job in ‘‘6’’ hours. The standard time allowed for the job is 10 hours and the hourly rate of wages is Re. 1. The worker earns 50% rate as bonus of Rs. 2 under Halsey plan. Find out his total earnings under Rowan plan.
13. (a) Calculate gross profit ratio : Sales Rs. 2,20,000 Sales Return Rs. 20,000 Opening stock Rs. 30,000 Purchase 1,75,000 Purchase returns 15,000 Closing stock 40,000
(Or)
(b) From the following profit and Loss Account of M.N.K. Foams prepare the comparative statement.
14. (a) Calculate Break Even point (units) and B.E.P. (in rupees) Fixed expenses 1,50,000 Variable cost per unit 10 Selling price per unit Rs. 15.
(Or)
(b) From the following particulars calculate profit volume ratio and profit. Total Fixed cost Rs. 4,500 Total variable cost Rs. 7,500 Total sales 15,000
15. (a) Chinar Exports Ltd is engaged customer retailing. You are required to forecast their working capital requirements. Projected annual sales Rs. 6,50,000.
Percentage of Net Profit 25%.
Average credit allowed to debtors 10 weeks
Average credit allowed by creditors 4 weeks
Average stock carrying (in terms of sales requirement) 8 weeks
Add 20% to allow for contingencies.
(Or)
(b) Draw up a flexible budget for overheads on the basis of the following data and determine the overhead rates at 90% capacity.
Part C : (3 × 10 = 30)
Answer any three questions.
16. The following Trial Balance was extracted from the books of Padmashri stores as on 31st March 2008. Adjustments
1. Closing stock Rs. 11,000
2. Make a provision for doubtful debts at 5%
3. Prepaid insurance Rs. 300
4. Depreciate furniture at 10%
Land and Building 12,000 Capital 40,000
Opening stock 14,360 Sales 80,410
Insurance 3,300 Return out 2,520
Furniture 1,500 Discount 550
Return In 1,590 Creditors 4,700
Purchases 67,350
Office expenses 6,410
Carriage out 1,590
Carriage in 1,450
Salaries 4,950
Debtors 11,070
Cash in hand 2,610
17. A factory produces 100 units of a commodity. The cost of production is
Materials Rs. 10,000
Wages Rs. 5,000
Direct Expenses Rs.1,000
Factory Overhead 125% on wages
Office overhead 20% on works cost
Salaries Rs. 35,600
Calculate Prime cost, Works cost, Cost of production and profit.
18. From the following details find out (a) Current Assets (b) Current liabilities (c) Liquid assets (d) Stock Current ratio 2.5 Liquid Ratio 1.5 Working capital Rs. 90,000
19. From the following details calculate (i) P/v ratio (ii) profit when sales are Rs. 20,000.
Fixed expenses Rs. 4,000
Break even sales Rs. 10,000