Nokia Product Life Cycle
Seat No.: ________
Enrolment No.______________
GUJARAT TECHNOLOGICAL UNIVERSITY
M.B.A -Ist SEMESTER–EXAMINATION –JUNE- 2012
Subject code: 810001 Subject Name: Accounting for Managers (AFM) Time: 02:30 pm – 05:30 pm
Date: 07/06/2012 Total Marks: 70
Instructions:
1. Attempt all questions. 2. Make suitable assumptions wherever necessary. 3. Figures to the right indicate full marks. Q.1 (a) “Financial Statements are the most important part of financial reporting” 07 Discuss the above statement giving the objectives of financial statement and the contents of the various components of the financial statements. (b) From the following trial balance of Mr. A prepare a Trading, Profit & 07 Loss Account and Balance Sheet for the year ended on 31st March, 2004. Trial Balance as on 31-03-04 (Rs. In ‘000) Dr. Cr. Purchases 21,750 Discount allowed 1,300 Wages 6,500 Sales 30,000 Salaries 2,000 Travelling Expenses 400 Commission 425 Carriage inwards 275 Administration expenses 105 Printing exp. 600 Interest 250 Building 5,000 Furniture 200 Debtors 4,250 Capital 13,000 Creditors 2,100 Cash 2,045 45,100 45,100 Stock on 31-03-2004 was Rs, 60,00,000. (a) Discuss the WDV and SLM methods of depreciation. Also mention the 07 major provisions of the Income Tax Act regarding depreciation. (b) “As per the revised Accounting Standard – 2 issued by ICAI, FIFO & 07 WAC methods are recognized methods for inventory valuation”. Explain the FIFO & WAC methods of inventory valuation. OR (b) A company purchased raw materials during the month of March 2007 as 07 stated below : March 2, 1,600 units @ Rs. 60 per unit 8, 2,400 units @ Rs. 55 per unit 11, 5,000 units @ Rs. 57 per unit 19, 6,000 units @ Rs. 54 per unit 23, 3,000 units @ Rs. 58 per unit 30, 2,000 units @ Rs. 63 per unit While preparing final accounts on 31st March 2007 the company had
Page 1 of 3
Q.2
2,600 units of raw materials in its godown. You are required to calculate the values of closing stock of raw
Enrolment No.______________
GUJARAT TECHNOLOGICAL UNIVERSITY
M.B.A -Ist SEMESTER–EXAMINATION –JUNE- 2012
Subject code: 810001 Subject Name: Accounting for Managers (AFM) Time: 02:30 pm – 05:30 pm
Date: 07/06/2012 Total Marks: 70
Instructions:
1. Attempt all questions. 2. Make suitable assumptions wherever necessary. 3. Figures to the right indicate full marks. Q.1 (a) “Financial Statements are the most important part of financial reporting” 07 Discuss the above statement giving the objectives of financial statement and the contents of the various components of the financial statements. (b) From the following trial balance of Mr. A prepare a Trading, Profit & 07 Loss Account and Balance Sheet for the year ended on 31st March, 2004. Trial Balance as on 31-03-04 (Rs. In ‘000) Dr. Cr. Purchases 21,750 Discount allowed 1,300 Wages 6,500 Sales 30,000 Salaries 2,000 Travelling Expenses 400 Commission 425 Carriage inwards 275 Administration expenses 105 Printing exp. 600 Interest 250 Building 5,000 Furniture 200 Debtors 4,250 Capital 13,000 Creditors 2,100 Cash 2,045 45,100 45,100 Stock on 31-03-2004 was Rs, 60,00,000. (a) Discuss the WDV and SLM methods of depreciation. Also mention the 07 major provisions of the Income Tax Act regarding depreciation. (b) “As per the revised Accounting Standard – 2 issued by ICAI, FIFO & 07 WAC methods are recognized methods for inventory valuation”. Explain the FIFO & WAC methods of inventory valuation. OR (b) A company purchased raw materials during the month of March 2007 as 07 stated below : March 2, 1,600 units @ Rs. 60 per unit 8, 2,400 units @ Rs. 55 per unit 11, 5,000 units @ Rs. 57 per unit 19, 6,000 units @ Rs. 54 per unit 23, 3,000 units @ Rs. 58 per unit 30, 2,000 units @ Rs. 63 per unit While preparing final accounts on 31st March 2007 the company had
Page 1 of 3
Q.2
2,600 units of raw materials in its godown. You are required to calculate the values of closing stock of raw