SRM BUSINESS SCHOOL, LUCKNOW
NH-24, Sitapur Road, Bakshi Ka Talab, Lucknow
Printed Pages Sides -2 Date: 04/12/2024 Shift-1 Subject Code: KMBN-103
(Following Paper ID and Roll No. to be filled in your Answer Book)
Roll No.
MBA
(SEM - I) SECOND SESSIONAL THEORY EXAMINATION 2023-24
FINANCIAL ACCOUNTING & ANALYSIS
Time: 2 Hours Total Marks: 30
Note: - 1. Attempt all section and assume any missing data.
2. Appropriate marks are allotted to each section, answered accordingly.
[CO- Course Outcomes K- Bloom’s Taxonomy Level]
[K1-Remember, K2-Understanding, K3-Apply, K4-Analyze, K5-Evaluate, K6- Create]
SECTION - A
Q 1. Attempt ANY FIVE Questions (1*5=5)
Course Bloom’s
Outcome Taxonomy
Part Questions Level
(a) Define Accounting standard 3. CO 2 K1
(b) What is Ledger? Explain. CO 2 K3
(c) What is Trial Balance? Explain. CO2 K2
(d) Write the formula of cost of goods sold. CO3 K1
(e) What do mean by cash or cash equivalent? CO 3 K3
(f) What do mean by Trading accounts? CO 3 K2
SECTION - B
Q 2. Attempt Any Two Questions (5*2=10)
Course Bloom’s
Outcome Taxonomy
Part Questions Level
(a) Pass Journal entries for during january2021. Also Prepare Ledger accounts of – Cash,
Sales and Purchase accounts
1 Commenced business with cash 20000
2 Purchased goods on credit from Shyam 15000
3 Purchased goods for cash 500
4 Paid Mohan an advance for goods ordered 1000
5 Received cash from Mayank as advance for goods ordered 1500
6 Purchased furniture for office use for cash 1000
7 Paid wages 250
8 Received commission (in cash) 300 CO 2 K6
9 Goods Return to Shyam 100
10 Goods sold to Kamal 5000
11 Paid postage and telegram 100
12 Goods return to Kamal 250
15 Paid stationary 100
18 Paid in to bank 250
20 Goods sold for cash 375
22 Bought goods for cash 500
25 Paid salary 350
28 Paid rent 250
31 Drew cash for personal use 500
(b) Describe the Difference Between K3
i Fund Flow and cash flow statement CO3
ii Trading and Profit & Loss Account CO2
(c) What do you mean by trial balance? How to prepare it? CO3 K2
SECTION - C
Q 3. Attempt All Questions (5*3=15)
Part Questions CO BTL
(a) Prepare Trading and profit & loss Account for the year ended 31 March, 2021, and Balance
Sheet as at that date from the following trial Balance.
Name of Accounts Dr. (₹) Cr. (₹)
Opening Stock 32000
Purchase less return 76000
P. Kumar 3000
Sales less Return 220000
Carriage Inwards 2600
Carriage Outwards 1500
Salaries 40000
Advertisement 9000
Trade Expenses 4800
Rent 12000
Rent Outstanding 1000
Stable Expenses 2100
Mortgage interest 600
Mortgage and interest to date 15600
Sundry Creditors 30000 K5
CO 3
Machinery 87500
Wages 15400
Cash in hand 2500
Establishment Expenses 5400
Capital 67800
Sundry Debtors 40000
Total 334400 334400
The following adjustments are required:
a) Closing Stock was ₹46000.
b) A stationery bill for ₹200 remains unpaid and unrecorded.
c) Bad debts provision to be adjusted to 5% on sundry debtors and Provision for discount
on sundry debtors at 2 %.
d) Write off 1/3 of advertisement expenses.
e) Salary of ₹ 3000 paid to P. Kumar an employee of the firm, stand debited to his
personal account and it is to be corrected.
f) Sundry Creditors include ₹10000 loan taken from Mr. Sudhir on Sept. 1, 2020 bearing
interest @ 12%.
(b) From the following information, calculate cash from operating activity
Amount(₹)
Profit & loss balance on 1 April 2020 35000
Profit & Loss balance on 31 March 2021 90000
Depreciation on Fixed assets 13500
Amortization of Goodwill 10000
Loss on Sale of Machine 22000
Provision for Taxation 15000
Transfer to general Reserve 30000
Decrease in Trade Receivables 22300
Decrease in Trade Payable 3750
Outstanding expenses on 1 April 2020 6000 CO 3 K6
Outstanding expenses on 31 March 2021 7500
Prepaid expenses on 1April 2020 3000
Income received in advance 6500
Decrease in Inventory 18000
Provision for Bad debts 5000
Refund Tax 2500
Gain on Sale of Investment 45000
Interest on Non-current Investment 4750
OR What do you mean by Cash flow statement? Explain all the classification of cash flow
statement.
(C) What do you mean by Financial statement? Draw a proper format of Balance Sheet (in Vertical
CO 3 K2
form) according to Company Act 2013.
