Accounting for Managers | M.B.A. Semester I Winter 2019 | GTU Papers

Q: Q5. From the following figures extracted from the books of shri Govind, you are required to prepare a Trading and Profit and Loss Account for the year ended 31st March 1998 and a Balance Sheet as on that date after making the necessary adjustments: Particulars Amount Particulars Amount Rs. Rs. Shri Govind’s Capital 228800 Stock on 1-4-97 38500 Shri Govind’s Drawings 13200 Wages 35200 Plant and Machinery 99000 Sundry Creditors 44000 Freehold Property 66000 Postage and Telegrams 1540 Purchases 110000 Insurance 1760 Returns Outwards 1100 Gas and Fuel 2970 Salaries 13200 Bad Debts 660 Office Expenses 2750 Office Rent 2860 Office Furniture 5500 Freight 9900 Discount A/c (Dr.) 1320 Loose Tools 2200 Sundry Debtors 29260 Factory Lighting 1100 Loan to Shri Krishna at Provision for D/D 880 10%p.a.balance on 1-4-97 44000 Interest on loan to Shri Krishna 1100 Cash at Bank 29260 Cash on Hand 2640 Bills Payable 5500 Sales 231440 Adjustments: 1. Stock on 31st March 1998 was valued at Rs. 72600. 2. Anew machine was installed during the year costing Rs. 15400, but it was not recorded in the books as no payment was made for it. Wages Rs. 1100 paid for its erection has been debited to wages account. 3. Depreciate: Plant and machinery by 33.33%, Furniture by 10% and Freehold Property by 5%. 4. Loose tools were valued at Rs. 1760 on 31-03-1998. 5. Of the sundry debtors Rs. 600 are bad and should be written off. 6. Maintain a provision of 5%on sundry debtors for doubtful debts. 7. The manager is entitled to a commission of 10% of the net profit after charging such commission. Page 3 of

This is question 5 (4 marks) from the GTU ACCOUNTING FOR MANAGERS (AFM) MB Winter 2019 question paper. Subject code: 2810001.

Q: Q5. The following are the summaries of the balance sheets of the Bharat Vijay Ltd. as on 31/12/2002 and 31/12/2003. Liabilities 2002 2003 Assets 2002 2003 Rs. Rs. Rs. Rs. Share Capital 300000 400000 Buildings 120000 250000 Debenture 200000 250000 Machinery 300000 260000 Profit & Loss A/c 40000 60000 Stock 90000 80000 Creditors 70000 80000 Debtors 140000 240000 Bank Overdraft 25000 25000 Prepaid Expenses 15000 25000 Provision for Tax 30000 40000 The following additional information is obtained: 1. The net profit for the year was Rs. 40000 after charging depreciation. 2. During the year depreciation charged Rs. 30000 on building and Rs. 40000 on Machinery. 3. The company purchased during the year buildings worth Rs. 160000. 4. Dividend paid during the year amounted to Rs. 20000 From the above information, prepare Fund Flow Statement for the year 2003. Page 4 of

This is question 5 (4 marks) from the GTU ACCOUNTING FOR MANAGERS (AFM) MB Winter 2019 question paper. Subject code: 2810001.

From the following figures extracted from the books of shri Govind, you are required to prepare a Trading and Profit and Loss Account for the year ended 31st March 1998 and a Balance Sheet as on that date after making the necessary adjustments: Particulars Amount Particulars Amount Rs. Rs. Shri Govind’s Capital 228800 Stock on 1-4-97 38500 Shri Govind’s Drawings 13200 Wages 35200 Plant and Machinery 99000 Sundry Creditors 44000 Freehold Property 66000 Postage and Telegrams 1540 Purchases 110000 Insurance 1760 Returns Outwards 1100 Gas and Fuel 2970 Salaries 13200 Bad Debts 660 Office Expenses 2750 Office Rent 2860 Office Furniture 5500 Freight 9900 Discount A/c (Dr.) 1320 Loose Tools 2200 Sundry Debtors 29260 Factory Lighting 1100 Loan to Shri Krishna at Provision for D/D 880 10%p.a.balance on 1-4-97 44000 Interest on loan to Shri Krishna 1100 Cash at Bank 29260 Cash on Hand 2640 Bills Payable 5500 Sales 231440 Adjustments: 1. Stock on 31st March 1998 was valued at Rs. 72600. 2. Anew machine was installed during the year costing Rs. 15400, but it was not recorded in the books as no payment was made for it. Wages Rs. 1100 paid for its erection has been debited to wages account. 3. Depreciate: Plant and machinery by 33.33%, Furniture by 10% and Freehold Property by 5%. 4. Loose tools were valued at Rs. 1760 on 31-03-1998. 5. Of the sundry debtors Rs. 600 are bad and should be written off. 6. Maintain a provision of 5%on sundry debtors for doubtful debts. 7. The manager is entitled to a commission of 10% of the net profit after charging such commission. Page 3 of

[4 marks]

The following are the summaries of the balance sheets of the Bharat Vijay Ltd. as on 31/12/2002 and 31/12/2003. Liabilities 2002 2003 Assets 2002 2003 Rs. Rs. Rs. Rs. Share Capital 300000 400000 Buildings 120000 250000 Debenture 200000 250000 Machinery 300000 260000 Profit & Loss A/c 40000 60000 Stock 90000 80000 Creditors 70000 80000 Debtors 140000 240000 Bank Overdraft 25000 25000 Prepaid Expenses 15000 25000 Provision for Tax 30000 40000 The following additional information is obtained: 1. The net profit for the year was Rs. 40000 after charging depreciation. 2. During the year depreciation charged Rs. 30000 on building and Rs. 40000 on Machinery. 3. The company purchased during the year buildings worth Rs. 160000. 4. Dividend paid during the year amounted to Rs. 20000 From the above information, prepare Fund Flow Statement for the year 2003. Page 4 of

[4 marks]

ACCOUNTING FOR MANAGERS (AFM) — Winter 2019

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