Financial and Management Accounting Assignments with Solution (MB0041)

mehtakaushal87

Par 100 posts (V.I.P)
Hello Friends,

i am Searching for MB0041 - Financial and Management Accounting Assignments with Solution.

Q1. Accounting is one of the oldest, structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting?,

Q2. Explain GAAP and write down the relationship between accounting principles, accounting concepts, and accounting conventions. Explain all the five accounting concepts with an example.,

Q3. List down the classification of accounts according to accounting equation approach. Give the meaning and examples for all the types of accounts.,

Q4. What is cash book? Differentiate between other subsidiary books and cash book.,

Q5. The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000.)
 
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dharmikmoni

Par 100 posts (V.I.P)
Hello Friends i am Searching for MB0041 – Financial and Management Accounting Assignments with Solution.

Q1. Accounting is one of the oldest, structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting?,

Q2. Explain GAAP and write down the relationship between accounting principles, accounting concepts, and accounting conventions. Explain all the five accounting concepts with an example.,

Q3. List down the classification of accounts according to accounting equation approach. Give the meaning and examples for all the types of accounts.,

Q4. What is cash book? Differentiate between other subsidiary books and cash book.,

Q5. The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000.)

hello There,

I have Solution of Financial and Management Accounting Assignments with Solution (MB0041).

Kindly Find in Attachment...
 

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aparna.iyer.33

New member
Helllo can anyone please help with the solved answers of 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c. 21.1.2011 Goods withdrawn for personal use Rs. 5,000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

Q 2 - 2 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
8250
12750
700
Capital
Sales
Returns inwards
10000
15900
1590
Discount received
Wages and salaries
Rent and rates
Sundry debtors
Bank Overdraft
800
2500
1850
7600
2450
Discount
allowed
Scooty
Carriage charges
Sundry creditors
Bills payable
800
1750
700
7250
690
Q 3 - 3 From the given trial balance draft an Adjusted Trial Balance.
Trial Balance as on 31.03.2011
Debit balances Rs. Credit balances Rs.
Furniture and Fittings 10000 Bank Over Draft 16000
Buildings 500000 Capital Account 400000
Sales Returns 1000 Purchase Returns 4000
Bad Debts 2000 Sundry Creditors 30000
Sundry Debtors 25000 Commission 5000
Purchases 90000 Sales 235000
Advertising 20000
Cash 10000
Taxes and Insurance 5000
General Expenses 7000
Salaries 20000
TOTAL 690000 TOTAL 690000
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
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)
Particulars 2010-11 2009-10 2008-09 2007-08 2006-07
Revenue 27,501 22,742 21,693 16,692 13,893
Operating Profit
(PBIDT)
8,968 7,861 7,195 5,238 4,391
PAT from
ordinary activities
6,835 6,218 5,988 4,659 3,856
(Source: Infosys Technologies Ltd. – Annual Report)
 

bhautik.kawa

New member
Helllo can anyone please help with the solved answers of 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

Q 2 - 2 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
8250
12750
700
Capital
Sales
Returns inwards
10000
15900
1590
Discount received
Wages and salaries
Rent and rates
Sundry debtors
Bank Overdraft
800
2500
1850
7600
2450
Discount
allowed
Scooty
Carriage charges
Sundry creditors
Bills payable
800
1750
700
7250
690
Q 3 - 3 From the given trial balance draft an Adjusted Trial Balance.
Trial Balance as on 31.03.2011
Debit balances Rs. Credit balances Rs.
Furniture and Fittings 10000 Bank Over Draft 16000
Buildings 500000 Capital Account 400000
Sales Returns 1000 Purchase Returns 4000
Bad Debts 2000 Sundry Creditors 30000
Sundry Debtors 25000 Commission 5000
Purchases 90000 Sales 235000
Advertising 20000
Cash 10000
Taxes and Insurance 5000
General Expenses 7000
Salaries 20000
TOTAL 690000 TOTAL 690000
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
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)
Particulars 2010-11 2009-10 2008-09 2007-08 2006-07
Revenue 27,501 22,742 21,693 16,692 13,893
Operating Profit
(PBIDT)
8,968 7,861 7,195 5,238 4,391
PAT from
ordinary activities
6,835 6,218 5,988 4,659 3,856
(Source: Infosys Technologies Ltd. – Annual Report)

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