Debt and Trial Balance Essay

DRIVE PROGRAM SEMESTER SUBJECT CODE & note BK ID CREDITS MARKS ASSIGNMENT WINTER 2013 MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2 1 MB0041 fiscal AND MANAGEMENT ACCOUNTING B1624 4 60 Note Answer wholly questions. Kindly note that answers for 10 marks questions should be approximately of cd words. Each question is followed by evaluation scheme. Q. No Questions Marks marrow Marks 1 Give the classification of answer fors according to accounting equivalence speak to with its meaning and examples. Compare the traditional approach with modern approach of accounting equation approach. Analyze the transaction under traditional approach.a. b. c. d. e. f. g. h. 20. 1. 2011 paying salary Rs. 30,000 20. 1. 2011 Paid rent by cheque Rs. 8,000 21. 1. 2011 Goods withdrawn for personalised use Rs. 5,000 25. 1. 2011 Paid an advance to suppliers of goods Rs. 1,00,000 26. 1. 2011 Received an advance from customers Rs. 3,00,000 31. 1. 2011 Paid lodge in on loan Rs. 5,000 31. 1. 2011 Paid instalment of loan Rs. 25,000 31. 1. 2011 Interest all in allowed by bank Rs. 8,000 Classification of accounting equation approach with meaning and examples outline of transaction with accounts involved-nature of accountaffects and debit/credit 2 4 10 6The following trial balance was removeed from the books of Chetan, a small businessman. Do you regain it is correct? If not, rewrite it in the correct form. Debits Stock Purchases Returns outwards Rs. assign 8250 Capital 12750 Sales 700 Returns inwards Rs. 10000 15900 1590 Discount received takings and salaries Rent and rates sundry(prenominal) debtors Bank 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 end 3 6 10 4 From the given trial balance draft an alter Trial Balance.Trial Balance as on 31. 03. 2011 Debit balances furniture and Fittings Buildings Rs. Credit balances Rs. 10000 Bank Over Draft 16000 500000 Capit al Account 400000 Sales Returns 1000 Purchase Returns 4000 Bad Debts 2000 Sundry Creditors 30000 Sundry Debtors 25000 direction Purchases 90000 Sales Advertising 20000 Cash 10000 Taxes and Insurance 235000 5000 General Expenses 5000 7000 Salaries come in 20000 690000 TOTAL 690000 Adjustments 1. 2. 3. 4. 5. Charge depreciation at 10% on Buildings and furniture and fittings. salvage off further bad debts 1000 Taxes and Insurance postpaid 2000Outstanding salaries 5000 Commission received in advance1000 dressing of ledger accounts Preparation of trial balance 4 6 10 4 solve 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 Profit (PBIDT) 8,968 7,861 7,195 5,238 4,391 PAT from ordinary activities 6,835 6,218 5,988 4,659 3,856 Revenue (Source Infosys Technologies Ltd. yea rbook Report)Preparation of trend outline Preparation of trend ratios 4 Conclusion 5 4 10 2 Give the meaning of capital flow analysis and put down the objectives of property flow analysis. justify 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 between 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