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    Jntu QPR Financial Accounting and Analysis

    Uploaded by

    Vijay Kumar
    This document contains an exam for a Financial Accounting and Analysis course, including 8 questions covering various topics in financial accounting such as debentures, shares, accounting concepts, cash journals, depreciation, inventory, preparation of financial statements from ledger balances and adjustments, and calculation and interpretation of financial ratios. It provides the framework and context for the exam, listing the questions and any sub-questions to be answered, but does not include any responses or solutions.

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    © All Rights Reserved
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    Jntu QPR Financial Accounting and Analysis

    Uploaded by

    Vijay Kumar
    132 views3 pages
    This document contains an exam for a Financial Accounting and Analysis course, including 8 questions covering various topics in financial accounting such as debentures, shares, accounting concepts, cash journals, depreciation, inventory, preparation of financial statements from ledger balances and adjustments, and calculation and interpretation of financial ratios. It provides the framework and context for the exam, listing the questions and any sub-questions to be answered, but does not include any responses or solutions.

    Original Description:

    FINANCIAL ACCOUNTING & ANALYSIS MODEL QUESTION PAPER

    Original Title

    Jntu Qpr Financial Accounting and Analysis

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    This document contains an exam for a Financial Accounting and Analysis course, including 8 questions covering various topics in financial accounting such as debentures, shares, accounting concepts, cash journals, depreciation, inventory, preparation of financial statements from ledger balances and adjustments, and calculation and interpretation of financial ratios. It provides the framework and context for the exam, listing the questions and any sub-questions to be answered, but does not include any responses or solutions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    132 views3 pages

    Jntu QPR Financial Accounting and Analysis

    Uploaded by

    Vijay Kumar
    This document contains an exam for a Financial Accounting and Analysis course, including 8 questions covering various topics in financial accounting such as debentures, shares, accounting concepts, cash journals, depreciation, inventory, preparation of financial statements from ledger balances and adjustments, and calculation and interpretation of financial ratios. It provides the framework and context for the exam, listing the questions and any sub-questions to be answered, but does not include any responses or solutions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    R09

    Code No: E5104


    JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD
    MBA I Semester Examinations, March/April - 2013
    FINANCIAL ACCOUNTING AND ANALYSIS
    Time: 3hours
    Max. Marks: 60
    Answer any five questions
    All questions carry equal marks
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    1.a)
    b)

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    2.a)

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    What is a debenture and its redemption? Describe the various methods for redemption
    Of debentures.
    Write short notes on:
    i) Convertible Debentures
    ii) Sinking Fund

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    b)

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    Explain in brief the provisions of the companies Act 1956 regarding the issue of shares
    at discount.
    When can shares be forfeited? Can forfeited? Can forfeited shares be issued at discount?

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    3.a)
    b)

    Explain various Accounting concepts with suitable examples.


    Why is it necessary to have cash Journal? Explain in detail the advantages of cash
    Journals as compared with the journalizing of cash transactions.

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    4.a)

    Define depreciation and explain the connection of depreciation with


    i) Profit
    ii) Price fluctuations
    iii) Repairs and
    iv) Replacement
    AS 2 has made certain recommendations regarding the presentation of inventory in
    financial statements. Mention them in brief.

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    b)

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    From the following ledger Balances, prepare Trading A/c, Profit and Loan A/c and
    Balance sheet as on 31.12.2012. (All figures are in Rs) Furniture and fittings 34,000,
    Land and Buildings 21,700, Drawings 4200, Cash at Bank 2470, Wages 31250, Discount
    (cr) 2640, Bank charges 90, Office Salaries 4260, Purchases 132700, Opening
    stock40,200, Cash in hand 150, Sales returns 1250, Carriage inwards 3400, Plant and
    Machinery 14,600, Sundry debtors 43,800, bad debts 1000, Insurance 1250, Rent and
    Taxes 2450, Bills receivables 2500, General expenses 1350, Advertising 3500, Capital
    Account 1,00,000, Discounts (cr) 2000, Loan from Bank 10,000, Purchases returns 970,
    Sales 1,91,940, Sundry creditors 12,450, Reserve for bad and doubtful debts 800.

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    Adjustments:
    a) Stock as on 31st December, 2012 is Rs 30,000.
    b) Wages include Rs.500 paid for the section of machinery
    c) Outstanding wages 700, Salaries 500, Rent & Taxes 200.
    d) Prepaid insurance 250 and advertisement 500.
    e) Depreciation machinery by 10 % and furniture by 15%.

    6.

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    From the following Balance sheet of a company, you are required to prepare:
    i) Statements of change in working capital ii) Funds Flow Statement and
    iii) Cash flow statement.

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    Dec, 2010
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    Liabilities

    Current Liabilities
    Bonds Payable

    30,000
    20,000

    Stock
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    Retained Earnings

    35,000
    15,000
    10,000

    5600

    1,10,000

    1,20,800

    Preference shares
    Total

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    32,000
    20,200

    Cash
    Accounts
    receivables
    Inventories
    Land & Buildings
    Equipment
    Patents

    1Q43,500
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    19,500

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    Information:

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    40,000
    10,000

    15,000
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    4000
    4000
    35,000
    6000
    1,10,000

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    From the following information pertaining to M/s Sukanya and company limited, prepare
    Trading A/c, Profit and Loss A/c and Balance sheet as on 31.03.2012 (working notes are
    compulsory)
    i) Current ratio 2.5
    ii) Quick ratio 1.3
    iii) Proprietary Ratio (Fixed assets / proprietary funds) 0.6
    iv) Gross profit to sales ratio 10%.
    v) Debtors velocity 40 days
    vi) Sales Rs 7,30,000
    vii) Working capital Rs 1,20,000
    viii) Bank overdraft Rs15,000
    ix) Share capital Rs 2,50,000
    x) Closing stock is 10 % more than opening stock
    xi) Net profit 10 % of proprietary funds.

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    Choose the correct answer from the four alternative answers given below:
    i) If the total charge of depreciation and maintenance are considered, the method which
    provides a uniform charge is:
    a) Straight line method
    b) Diminishing balance method c) Annuity method
    d) Sum of the year digits method.

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    33,000
    3700
    1,20,800

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    44,400
    20,700

    a) Income for the period Rs 10,000.


    b) A building that costs Rs 4000 and which had a book value of Rs 1000 was sold for
    Rs.1400.
    c) The depreciation charge for the period was Rs 800/d) There was Rs 5000 issue of common stock.

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    Jan 2009 Dec 2010 Assets

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    ii) The test of objectivity of verifiability is satisfied valuing stock at


    a) Historical cost
    b) Current replacement price c) Net realizable value
    d) Market price

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    ascertainment of value of stocks from accountings is known as:


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    a) Continuous stock taking
    c) Perpetual inventory

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    d) Specific identification of stock.

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    iv) Cost price of goods taken out by the owner of a business is to be debited to:
    a) Drawings A/c
    b) Capital A/c
    c) Sales A/c
    d) Profit & Loan A/c
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    ::3::

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    b) A factory engaged
    been in operation
    for
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    five years. The capital employed in Rs 170 lakhs out of which Rs 100 lakhs represent
    equity capital and reserves, Rs 50 lakhs long term borrowings on debentures and Rs.20
    lakhs cash credit from banks. The working capital of the company is Rs 85 lakhs is made
    up of stocks of Rs 30 lakhs , stores 14 lakhs , debtors 35 lakhs and advances and deposits
    Rs 6 lakhs . Annual sale is Rs 80 lakhs . Calculate five financial ratios from the above for
    the use of management and draw your meaningful inferences.

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