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Internals II - Managerial Accounting Question Paper

The document contains a test for a managerial accounting subject with multiple choice and numerical questions. It provides accounting information such as sales, costs, profits, assets and liabilities and asks students to perform calculations related to ratios, budgets, cash flows and more.

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554 views3 pages

Internals II - Managerial Accounting Question Paper

The document contains a test for a managerial accounting subject with multiple choice and numerical questions. It provides accounting information such as sales, costs, profits, assets and liabilities and asks students to perform calculations related to ratios, budgets, cash flows and more.

Uploaded by

asde
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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DEPARTMENT OF

MANAGEMENT STUDIES
(MBA)

MBA - I Semester

Internal Test – II

May 2021

Subject Code and Subject Name: 1.2 Managerial Accounting


Time: 90 Minutes TOTAL: 30 MARKS

PART - A

Answer any FOUR of the following: 4 x 3 M = 12 Marks

1. Calculate Current Assets and Current Liabilities when current ratio is 3 : 1 and working capital
is Rs. 50,000

2. GP Ratio is 30%. Gross Profit is Rs. 2,00,000. Calculate the COGS

3. Determine the Cost of Goods Sold from the following information: Current Liabilities = Rs.
6,00,000. Current Ratio = 2:1, Liquid Ratio = 1.5 : 1 and Inventory Turnover Ratio is 6 times

4. Given: Sales = Rs. 5,00,000 Fixed Cost = Rs. 1,00,000 Variable Cost = Rs. 3,00,000.
Calculate:
a) Break Even Point
b) P/V Ratio
c) Sales Volume if a Profit of Rs. 90,000 is desired

5. What is Depreciation? What do you understand by Straight line method of charging


depreciation?

PART – B

Answer any TWO of the following: 2 x 5 M = 10 Marks

6. The expenses budgeted for 10,000 units are furnished below:

Particulars Rs. Per unit

Material 70
Labour 25
Variable expenses (direct) 5
Variable Overheads 20
Fixed Overheads (Rs. 100,000) 10
Administration expenses (Rs. 50,000) 5
Selling expenses (10% fixed) 13
Diostribution expenses (20% fixed) 7
Total Cost 155
Prepare a flexible budget for 12,000 units. Assume that the administrative expenses remain fixed at
all levels of production

7. Calculate Cash Flow from Operating Activities from the following data:

Particulars 2016 2017


P&L Appropriation account 60,000 80,000
Bills Receivable 15,000 20,000
Provision for Depreciation 52,000 56,000
Outstanding Salary 10,000 15,000
Prepaid rent 5,000 6,000
Goodwill 22,000 18,000
Stock 59,000 62,000

8. The following information is relating to the production and sale odf an article for
the years 2016 and 2017:

Particulars 2016 2017

Sales (Rs.) 3,80,000 6,50,000


Profits (Rs.) 1,000 30,000

Calculate:
a) Break Even Sales Volume
b) Profit or Loss at Rs. 4,60,000 sales
c) Sales required to earn a profit of Rs. 50,000

PART – C
COMPULSORY QUESTION
Answer the following: 1 x 8 M = 08 Marks

9. From the following Balance Sheet of Aathma Company Limited. Prepare a Cash
Flow Statement
2015 2016 2015 2016
Liabilities (Rs.) (Rs.) Assets (Rs.) (Rs.)

Equity Share Capital 60,000 80,000 Goodwill 20,000 16,000


Preference Share Capital 30,000 20,000 Land & Building 40,000 34,000
General Reserve 8,000 10,000 Plant and Machinery 16,000 40,000
P&L Account 6,000 13,600 Investments 4,000 6,000
Proposed Dividend 8,400 10,000 Sundry Debtors 28,000 34,000
Creditors 5,000 9,400 Stock 15,400 21,800
Bills Payable 4,000 3,200 Bills Receivable 4,000 6,000
Outstanding expenses 6,000 7,200 Bank 3,000 2,000
Provision for Taxation 8,000 10,000 Cash in hand 2,000 1,600
Preliminary Expenses 3,000 2,000
1,35,400 1,63,400 1,35,400 1,63,400

Additional Information:

a) A piece of land worth Rs. 6,000 was sold for Rs. 10,000.
b) A piece of machine has been sold for Rs. 2,000 (The Book Value of the Machinery was
Rs. 2,400), Depreciation of Rs. 2,000 is charged to Plant Account in 2016.
c) Income tax paid during the year was Rs. 8,000
d) An interim dividend of Rs. 4,000 has been paid in 2016.

Consider Proposed Dividend as a Current Liability and Interim Dividend is an independent


item and different from Proposed Dividend altogether. Consider Interim Dividend as a
non – current item.

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