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Home / Test Papers / IGNOU / CS54 Finance & Accounting on Computers CS54 Finance & Accounting on Computers June 2005 | Ask a question Print this page |
ADCA / MCA (II Yr)
Term-End Examination
June, 2005
CS-54 : Finance & Accounting on Computers
Time: 3 hours
Maximum Marks: 75
1. (a) Explain, in detail, the following accounting concepts : 9
(i) Cost concept
(ii) Accrual concept
(iii) Consistency concept
(b) "Accounting is closely concerned with control," Explain the statement. Discuss the role of accounting feedback in the process of control. 6
2. From the following balances taken from the books of M/s Ram Kishore & Co, prepare a Trading and Profit & Loss account for the year ending December 31st, 2004 and balance sheet as on that date. 15
| Particulars | Amount in Rs. (Dr) | Amount in Rs. (Cr) |
| Stock (1.1.2004) | 17,000 | ----- |
| Debtors & Creditors | 25,000 | 22,000 |
| Purchases and Sales | 89,000 | 1,15,000 |
| Returns | 17,000 | 12,000 |
| Drawing and Capital | 8,000 | 1,25,000 |
| Fire insurance premium | 2,000 | ----- |
| Life insurance premium | 5,000 | ----- |
| Income tax paid | 10,000 | ----- |
| Bills receivable and payable | 14,000 | 16,000 |
| Sales Tax Payable | ---- | 12,000 |
| Wages and Salaries | 18,000 | ----- |
| Telephone expenses | 3,000 | ----- |
| Sales promotion expenses | 21,000 | ----- |
| Cash & Bank overdraft | 5,000 | 14,000 |
| Audit fees | 8,000 | ----- |
| Discount | 4,000 | 1,000 |
| Investments | 60,000 | ----- |
| Interest on investment | ----- | 5,000 |
| Interest on bank overdraft | 6,000 | ----- |
| Rent paid | 12,000 | ----- |
| Bad debts recovered | ---- | 2,000 |
| Total | 3,24,000 | 3,24,000 |
Closing Stock as on 31st December, 2004 amounted to Rs. 25,000.
3. Explain, in detail, the features of an appropriate capital structure. Also explain the various factors which determine and influence the capital structure of a firm. 15
4. (a) Examine different classes of capital projects. Explain why they are approached differently. 8
(b) Explain the concept of Zero Base Budgeting, Also give four of its advantages and three disadvantages. 7
5. (a) The following figures relate to a company manufacturing a varied range of products :
| Particulars | Total Sales (Rs.) | Total Cost (Rs.) |
| Year ended 31st March. 2003 | 22,23,000 | 19,83,600 |
| Year ended 31st March, 2004 | 24,51,000 | 27,43,200 |
Assuming stability in price with variable costs carefully controlled to reflect predetermined relationships and an unvarying fixed cost, calculate
(i) The Profit Volume ratio
(ii) Fixed Costs
(iii) Fixed Costs percentage to Sales
(iv) Break even Point
(v) Margin of Safety for the year 2003 and 2004. 5
(b) XYZ Ltd. manufacturer of industrial valves provides the following information for the year ended 31st March, 2005.
| Particulars | Per unit | Total |
| Sales (15,000 valves) (i) | 25 | 3,75,000 |
Production Overheads Variable Fixed | 15 | 2,25,000 | 3 | 45,000 | (ii) | 18 | 2,70,000 |
Gross Profit Administration, selling and distribution overheads (Fixed) Net Profit | 7 | 1,05,000 | 32,000 | 73,000 |
The actual Sales, Production and Stocks for the yeay are as under :
| Particulars | Quarter | Total | |||
| I | II | III | IV | ||
| Opening Stock | ----- | 2,000 | 1,000 | 4,000 | ---- |
| Production | 6,000 | 4,000 | 5,000 | 3,000 | 18,000 |
| Sales | 4,000 | 5,000 | 2,000 | 4,000 | 15,000 |
| Closing Stock | 2,000 | 1,000 | 4,000 | 3,000 | 3,000 |
You are required to prepare quarterly statements of profitability on the basis of Absorption Costing and Marginal Costing. 15
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