MBA104-Financial and Management Accounting

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Master of Business Administration - MBA Semester 1

MBA104-Financial and Management Accounting

Set - 1

Q1.

	Particulars			Amount		Particulars			Amount
	Drawings			10,000		Interest	on		200
						investments
	Stock on 1-1-92			46,000		Sundry Debtors			36,000
	Purchases			1,50,200		Sundry Creditors			29,000
	Purchases return			600		Wages			25,000
	Cash in hand			3,400		Salaries			14,000
	Bank Balance			22,660		Capital			1,14,000
	Freehold expenses			38,600		Income tax			1,600
	Trade expenses			840		Discount allowed			6,300
	Printing	Stationery		1,640		Discount received			4,600
	and advertisement
	Professional charges			280		Sales			2,08,950
	Commission received			3,300		Sales return			550
	Investments as on 1st			4,000		Bills receivable			3,200
	Jan @ 10%
	Office furniture			3,050		Bills payable			10,000
	Rent	rates	and	4,000		Provision   for	bad		670
	Insurance					debts

Prepare the Trial Balance from the following list of balances.

Answer. :

Q2. Trial Balance as on 31.03.2011

Debit Balance	Rs.	Credit Balance	Rs.
Furniture & Fittings	10000	Bank Over Draft	16000
Buildings	500000	Capital Account	400000
Sales Returns	1000	Purchase Return	4000
Bad Debts	2000	Sundry Creditors	30000
Sundry Debtors	25000	Commission	5000
Purchases	90000	Sales	235000
Advertising	20000
Cash	10000
Taxes & Insurance	5000
General Expenses	7000
Salaries	20000
Total	690000	Total	690000

Adjustments:

1. Charge depreciation at 10% on Buildings and Furniture and fittings.

2. Write off further bad debts 1000

3. Taxes and Insurance prepaid 2000

4. Outstanding salaries 5000

5. Commission received in advance1000

Prepare Adjusted Trial Balance

Answer. Ledger accounts Furniture and fittings a/c

            DR                                                                                                       CR

Particulars	Rs.	Particulars	Rs.
To Bal b/d	10000	By Depriciation By bal c/d	1000 9000

Q3. Explain Various Cost Control Techniques.

Answer. Following are some of the valuable and essential techniques used for efficient project cost control:

1 - Planning the Project Budget

You would need to ideally make a budget at the beginning of the planning session with regard

Set - 2

Q1. Explain any five essential features of Budgetary Control.

(Five Essential features of Budgetary control                    5x2=10)

Answer. An effective budgeting system should have essential features to get the best results. In this direction, the following

Q2. Explain the concept of Zero Based Budgeting.

Answer.  Zero Based Budgeting (ZBB):-

Zero based budgeting is “a method of budgeting where by all activities is revaluated each time a budget is set. Discreet levels of each activity are valued and a combination chosen to match funds available”. Chartered Institute of Management Accountants (CIMA) London

Q3. Explain the concept of Activity based Costing and Target Costing  

1. Write short note on Activity Based Costing             5

2. Write short note on Target Costing                          5

Answer. Activity Based Costing:-           

Activity-based costing (ABC) is an accounting method that identifies and assigns costs to overhead activities and then assigns those costs to products. An activity-based costing (ABC) system recognizes the relationship between costs, overhead activities, and manufactured products, and

FALL-2018

Get solved assignments at nominal price of Rs.125 each.

Any issues mail us at: subjects4u@gmail.com or contact at

08219081362