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MB0041- FINANCIAL AND MANAGEMENT ACCOUNTING
Q1 Give the classification of Accounts according to accounting equation approach with its meaning and examples.
Compare the traditional approach with modern approach of accounting equation approach. Analyze the
transaction under traditional approach.
a. 20.1.2011 Paid salary Rs. 30,000
b. 20.1.2011 Paid rent by cheque Rs. 8,000
c. 21.1.2011 Goods withdrawn for personal use Rs. 5,000
d. 25.1.2011 Paid an advance to suppliers of goods Rs. 1,00,000
e. 26.1.2011 Received an advance from customers Rs. 3,00,000
f. 31.1.2011 Paid interest on loan Rs. 5,000
g. 31.1.2011 Paid instalment of loan Rs. 25,000
h. 31.1.2011 Interest allowed by bank Rs. 8,000
(Classification of accounting equation approach with meaning and examples , Analysis of transaction with
accounts involved-nature of account affects and debit/credit )
Solution:
Q2. The following trial balance was extracted from the books of Chetan, a small businessman. Do you think it is
correct? If not, rewrite it in the correct form.
Debits

Rs.

Credits

Rs.

Stock
Purchases
Returns outwards
Discount received
Wages and salaries
Rent and rates
Sundry debtors
Bank Overdraft

8250
12750
700
800
2500
1850
7600
2450

Capital
Sales
Returns inwards
Discount allowed
Scooty
Carriage charges
Sundry creditors
Bills payable

10000
15900
1590
800
1750
700
7250
690

(Journal entries of all the transactions, Conclusion)

Answer: no, its not the right way. General entries of all the transaction in proper way are given in the below table

Conclusion:

Title provided at the top shows the name of the entity and accounting period end for which the trial balance
has been prepared.
Q3 From the given trial balance draft an Adjusted Trial Balance.
Trial Balance as on 31.03.2011
Rs.
Debit balances
Rs.
Credit balances
Furniture
and
Bank Over Draft
16000
10000
Fittings
400000
Buildings
500000
Capital Account
Sales Returns
1000
Purchase Returns 4000
Bad Debts
2000
Sundry Creditors 30000
5000
Sundry Debtors
25000
Commission
235000
Purchases
90000
Sales
Advertising
20000
Cash
10000
Taxes and Insurance 5000
General Expenses
7000
Salaries
20000
695000
TOTAL
690000
TOTAL
Adjustments:
1. Charge depreciation at 10% on Buildings and Furniture and fittings.
2. Write off further bad debts 1000
3. Taxes and Insurance prepaid 2000
4. Outstanding salaries 5000
5. Commission received in advance1000
(Preparation of ledger accounts, Preparation of trial balance )
Solution:
Ledger accounts
Furniture and fittings a/c
Dr.
Particulars
To bal b/d

Cr.
Rs. Particulars
10000 By Depreciation
By bal c/d

Total
To bal b/d

10000 Total

Rs.
1000
9000
10000

9000

Q4. Compute trend ratios and comment on the financial performance of Infosys Technologies Ltd. from the following
extract of its income statements of five years. (in Rs. Crore)

(Source: Infosys Technologies Ltd. Annual Report)

(Preparation of trend analysis, Preparation of trend ratios, Conclusion)

Solution:
Infosys Technologies Ltd.

Q5. Give the meaning of cash flow analysis and put down the objectives of cash flow analysis. Explain the
preparation of cash flow statement.
(Meaning of cash flow analysis, Objectives of cash flow analysis, Explanation of preparation of cash flow
analysis)
Answer:
Meaning of Cash Flow Analysis
Cash flow analysis is an important tool of financial analysis. It is the process of understanding the change in position
with respect to cash in the current year and the reasons responsible for such a change. Incidentally, the analysis also helps
us to understand whether the investing and financing decision taken by the company during the year are appropriate are
not. Cash flow analysis is presented in the form of a statement. Such a statement is called a cash flow statement.
Q6. Write the assumptions of marginal costing. Differentiate between absorption costing and marginal
costing.
(Assumptions of marginal costing (all 7 points), Differences of marginal and absorption costing (Includes
all 8 points)
Answer:
Assumptions of Marginal Costing
Marginal costing is based on the following assumptions:
1. Segregation of cost into fixed and variable
The whole principle of marginal costing is based on the idea that some costs vary with production while some costs
dont. Therefore, it is assumed that a clear bifurcation between fixed and variable costs is possible. Even if some Get
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