Get Answers on www.smuHelp.com Get Answers on www.smuhelp.com Get Answers on www.smuHelp.com DRIVE PROGRAM SEMESTER SSUBJECT CODE & NAME BK ID CREDIT MARKS ASSIGNMENT SPRING 2016 MBA I MB 0041 FINANCIAL AND MANAGEMENT ACCOUNTING B1624 4 60 Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q.No Question Marks 1 From the following information prepare the Balance Sheet of a Firm : Total Marks Working Capital Gap : Rs. 4,50,000 Working Capital Ratio : 2.5 Velocity of Stock & Debtors : 6 times Quick Ratio : 1.5 Fixed Asset Turnover Ratio : 2 times Gross Profit Margin Ratio : 20 % Fixed Assets to Net Worth : 4/5 Capital is 2/3 of Equity A Based on above information prepare the Balance Sheet 10 of a Firm 2 Write notes on : a) Value Added Ratios b) Balanced Score Card A 3 a) Value Added Ratios b) Balanced Score Card 5 5 10 10 From the following Balance Sheet as on 31. 03. 2014 and 31. 03. 2015, prepare Cash Flow Statement using Indirect method: Liabilities Share Capital General Reserve Profit and Loss Account 31.03.2014 4,00,000 1,00,000 50,000 31.03.2015 5,00,000 1,20,000 60,000 Get Answers on www.smuHelp.com Get Answers on www.smuHelp.com Get Answers on www.smuhelp.com Long Term Loan from Bank Creditors Provision for Tax Total 1,00,000 1,50,000 40,000 8,40,000 NIL 1,40,000 50,000 8,70,000 Total NIL 3,00,000 2,50,000 1,50,000 1,00,000 40,000 8,40,000 20,000 2,85,000 3,00,000 1,40,000 95,000 30,000 8,70,000 Assets Goodwill Land and Building Plant and Machinery Inventories Receivables Cash During the year 2014-15 : i) Dividend of Rs. 60,000 was paid. ii) Assets of a subsidiary was purchased for a consideration of Rs. 1,00,000. The assets include Inventories Rs. 40,000 and Machinery Rs. 60,000. iii) Depreciation written off on Machinery Rs. 25,000. iv) Income-tax provided during the year was Rs. Rs. 50,000 A 4 From the above Balance Sheet as on 31. 03. 2014 and 31. 03. 2015, and further information provided; prepare 10 a Cash Flow Statement using Indirect method: 10 Following information obtained from a manufacturing company : Stock of Raw Materials Stock of Finished Goods Stock of Work – in – Progress 01.04.2014 70,000 1,20,000 20,000 31.03.2015 85,000 1,40,000 26,000 Indirect Labour - 65,000, Lubricants – 15,000, Insurance on Plant – 5,000, Purchase of Raw Materials – 3,00,000, Sales Commission - 75,000, Salaries to salesman – 1,00,000, Administrative Expenses – 1,50,000, Carriage Outward 20,000, Power – 20,000, Direct Labour - 2,00,000, Depreciation on machinery – 40,000, Factory Rent – 50,000, Property Tax on Factory Building – 14,000, Sales - 10,11,000 ----------------------------------------------------------------------------------------------------Prepare a statement of Cost and Profit showing : (a) Cost of Raw Materials Consumed (b) Prime Cost (c) Total Manufacturing Cost or Factory Cost or Works Cost (d) Cost of Production (e) Cost of Goods available for Sale (f) Cost of Goods Sold (g) Cost of sales and (h) Profit Get Answers on www.smuHelp.com Get Answers on www.smuHelp.com Get Answers on www.smuhelp.com A 5 Prepare a statement of Cost and Profit showing : a) Cost of Raw Materials Consumed b) Prime Cost c) Total Manufacturing Cost or Factory Cost or Works Cost d) Cost of Production e) Cost of Goods available for Sale f) Cost of Goods Sold g) Cost of sales and h) Profit 10 1 1 2 1 2 1 1 1 From the following information and assumption that the balance in hand on 1st Jan 2016 is Rs.1,35,000, prepare a cash budget for January 2016 to June 2016 Month Materials Sales Wages January February March April May June 60,000 72,000 61,000 71,200 84,000 87,600 1,54,000 2,04,000 1,82,000 1,87,200 2,15,000 2,27,400 25,000 29,200 26,200 60,000 54,000 56,000 Sales & Distribution Overhed 10,000 12,000 13,000 15,400 19,000 21,000 Production Administration Overhead Overhead 12,000 12,600 12,000 13,000 16,000 16,400 2,500 3,400 3,500 3,500 4,000 4,000 Assume that 50% are cash sales. Assets are to be required in Feb. and April. Therefore, provision should be made for payment of Rs.26,000 and Rs.60,000 for the same. An application has been made to a bank for grant of loan of Rs. 50,000 and it is hoped that it will be received in the month of May. It is anticipated that a dividend of Rs.70,000 will be paid in June. Debtors are allowed 1 month credit. Sales commission @ 3% on sales is to be paid. Creditors (for goods and overhead) grant one month’s credit. A 6 A From the above information prepare a Cash Budget for 10 six months from January 2016 to June 2016 The following data are obtained from the records of a company : 1st Yr. 2nd Year Rs. Rs. Sales 1,00,000 1,40,000 Profit 10,000 14,000 Calculate : (a) P/V Ratio (b) Break-even Point (c) Profit or Loss when Sales amount to Rs. 80,000; and (d) Sales required to earn a profit of Rs. 25,000 From the above particulars calculate : (a) P/V Ratio 2 10 Get Answers on www.smuHelp.com Get Answers on www.smuHelp.com Get Answers on www.smuhelp.com (b) Break-even Point 2 (c) Profit or Loss when Sales amount to Rs. 3 80,000; and (d) Sales required to earn a profit of Rs. 3 25,000 10