Debt and Trial Balance Essay

DRIVE class SEMESTER SUBJECT CODE & NAME BK ID CREDITS mark ASSIGNMENT WINTER 2013 MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2 1 MB0041 FINANCIAL AND MANAGEMENT ACCOUNTING B1624 4 60 Note Answer solely questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q. No Questions Marks Total Marks 1 assign the classification of Accounts according to explanation equation approach with its meaning and examples. compare the traditional approach with modern approach of accounting equation approach. conk out the transaction under traditional approach.a. b. c. d. e. f. g. h. 20. 1. 2011 remunerative salary Rs. 30,000 20. 1. 2011 Paid occupy by cheque Rs. 8,000 21. 1. 2011 Goods withdrawn for personal use Rs. 5,000 25. 1. 2011 Paid an correct forward to suppliers of goods Rs. 1,00,000 26. 1. 2011 Received an advance from customers Rs. 3,00,000 31. 1. 2011 Paid interest on loan Rs. 5,000 31. 1. 2011 Paid instalment of loan Rs. 25,000 31. 1. 2011 Interest allowed by bank Rs. 8,000 Classification of accounting equation approach with meaning and examples Analysis of transaction with accounts involved-nature of accountaffects and debit/ belief 2 4 10 6The following trial isotropy was extracted from the books of Chetan, a small businessman. Do you think it is correct? If not, rewrite it in the correct form. Debits Stock gets Returns outwards Rs. Credits 8250 Capital 12750 Sales 700 Returns inwards Rs. 10000 15900 1590 Discount genuine Wages and salaries Rent and rates miscellaneous debtors depository financial institution Overdraft 800 2500 1850 7600 2450 Discount allowed Scooty Carriage charges Sundry creditors Bills payable 800 1750 700 7250 690 Journal entries of all the transactions Conclusion 3 6 10 4 From the inclined trial balance draft an Adjusted Trial proportionality.Trial Balance as on 31. 03. 2011 Debit balances Furniture and Fittings Buildings Rs. Credit balance s Rs. 10000 Bank Over Draft 16000 500000 Capital Account 400000 Sales Returns 1000 Purchase Returns 4000 Bad Debts 2000 Sundry Creditors 30000 Sundry Debtors 25000 Commission Purchases 90000 Sales Advertising 20000 exchange 10000 Taxes and Insurance 235000 5000 General Expenses 5000 7000 Salaries TOTAL 20000 690000 TOTAL 690000 Adjustments 1. 2. 3. 4. 5. Charge wear and tear at 10% on Buildings and Furniture and fittings. Write off nurture bad debts 1000 Taxes and Insurance prepaid 2000Outstanding salaries 5000 Commission received in advance1000 Preparation of ledger accounts Preparation of trial balance 4 6 10 4 Compute trend ratios and comment on the financial performance of Infosys Technologies Ltd. from the following extract of its income statements of five years. (in Rs. Crore) Particulars 2010-11 2009-10 2008-09 2007-08 2006-07 27,501 22,742 21,693 16,692 13,893 Operating turn a profit (PBIDT) 8,968 7,861 7,195 5,238 4,391 PAT from ordinary activities 6,835 6,218 5,988 4,6 59 3,856 Revenue (Source Infosys Technologies Ltd. Annual Report)Preparation of trend outline Preparation of trend ratios 4 Conclusion 5 4 10 2 Give the meaning of cash fertilise compendium and put down the objectives of cash flow analysis. Explain the preparation of cash flow statement. Meaning of cash flow analysis Objectives of cash flow analysis 3 Explanation of preparation of cash flow analysis 6 2 10 5 Write the assumptions of marginal costing. Differentiate amongst absorption costing and marginal costing. Assumptions of marginal costing (all 7 points) 4 Differences of marginal and absorption costing (Includes all 8 6 points) 10