MB 0041 FINANCIAL AND MANAGEMENT ACCOUNTING – Summer 2016

Get fully solved assignment. Buy online from website

www.smumbaassignment.com

or

Kindly drop a mail with your sub code

kvsude@gmail.com

We will revert you within 2-3 hour or immediate

Any Query: +91 9995 105 420

 

ASSIGNMENT

 

DRIVE

SUMMER 2016

PROGRAM

MBA

SEMESTER

I

SSUBJECT CODE & NAME

MB 0041

FINANCIAL AND MANAGEMENT ACCOUNTING

 

QUESTION1. From the following particulars prepare a summarized Balance Sheet of a firm as on 31. 03.2016 : 

Fixed Assets to Net Worth                                              0.8 : 1

Current Ratio                                              3 : 1

Reserves included in Proprietors Fund                         25 %

Acid Test Ratio                                            3: 2

 Fixed Assets                                      Rs. 8,00,000

 Cash and Bank Balance                                      Rs. 15,000

 Current Liabilities                                                           Rs. 1,50,000

The firm has no Bank Overdraft.

 

Answer1.

FA to Net worth  =  0.8:1

Current

 

QUESTION2. Define and distinguish between Financial Accounting and Management Accounting.

Answer2.

Financial Accounting

Financial accounting is the process of recording, summarizing and reporting the myriad of transactions resulting from business operations over a period of time. These transactions are

 

QUESTION3. Balance Sheets of Bhaskar and Soumya Corporation are  given below :

 

During the year Bhaskar and Soumya introduced additional capital of Rs. 20,000 and drew  Rs. 60,000. Provision for Depreciation of Machinery – Opening Balance Rs. 2,00,000 and Closing Balance Rs. 2,20,000. No depreciation was provided on other assets. The value of Building was increased by Rs. 25,000 and the same was adjusted with Capital Account. 

Prepare Cash Flow Statement as per AS-3 Indirect method.

Answer3.

Bhaskar and Saumya Corporation

Cash Flow

 

QUESTION4. a) Write a note on “Schedule of Changes in Working Capital”.

Answer4a. The information relating to the changes in current natured accounts between two periods of time presented in the form of a statement is what we call the schedule/statement of changes in

 

  1. b) Prepare a Schedule of changes in Working Capital from the Balance Sheets given :

Answer4b.Here is the

 

 

QUESTION5. A   Ltd.  and  B  Ltd.  Sell  the  same  type  of  product  in  same  type  of  market.  Their  budgeted  Profit & Loss  for  the  year ending  2015 are  as  under :       A  Ltd.                         B  Ltd.        

Rs.                  Rs.                                 Rs.                 Rs.

Sales              1,50,000                                   1,50,000

Less :  Variable  Cost    1,20,000            1,00,000            

 Fixed  Cost              15,000              35,000            

1,35,000                                   1,35,000 

  Budgeted  Profit                           15,000                                      15,000  

  1. a) Calculate the  BEP   and     (b)   Margin  of   Safety    in   each  business,  (c)   State  which  business  is  likely  to  earn  greater  profits  in  conditions  of            (i)  heavy  demand  for  their  product    (ii)  low  demand  for  their  product 

 

 

Answer5. a.                                               A                                                B

B.E.P   =

or

=

 

 

QUESTION6. a) Distinguish between Budgetary Control and Standard Costing.

Answer6a.Standard Costing and Budgetary Control are the two systems of costing, which are quite similar to each other like both provides a benchmark which helps to compare the actual performance with the estimated figures. The two aims at controlling costs and measuring the performance by fixing targets. These two systems are neither alike nor interdependent. The former, forecasts,

 

  1. b) Particulars given :

Opening Stock of Materials  –  NIL

Closing Stock of Materials  –  700 units

Materials purchased 4,000 units @  Rs. 2.50 each

Standard quantity of Materials required per tonne of finished product  –   20 units

Standard rate of Material  –  Rs. 2 Finished products for the period  –   100 tonnes 

Calculate :  I. Material Cost Variance II. Material Price Variance III. Material Usage Variance

Answer6b.

Basic calculations to be made as follows –

  • Actual

 

 

Get fully solved assignment. Buy online from website

www.smumbaassignment.com

or

Kindly drop a mail with your sub code

kvsude@gmail.com

We will revert you within 2-3 hour or immediate

Any Query: +91 9995 105 420