Debt and Trial Balance Essay Example for Free

Debt and attempt Balance EssayDRIVE PROGRAM SEMESTER national CODE NAME BK ID CREDITS MARKS ASSIGNMENT WINTER 2013 MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2 1 MB0041 FINANCIAL AND trouble ACCOUNTING B1624 4 60 Note Answer all questions. Kindly note that answers for 10 mark questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q. No Questions Marks congeries Marks 1 score the classification of Accounts according to accounting equation approach with its meaning and examples. equality the tralatitious approach with modern approach of accounting equation approach. Analyze the feat under traditional approach. a. b. c. d. e. f. g. h. 20. 1. 2011 stipendiary salary Rs. 30,000 20. 1. 2011 Paid rent by cheque Rs. 8,000 21. 1. 2011 Goods withdrawn for personal use Rs. 5,000 25. 1. 2011 Paid an advance to suppliers of goods Rs. 1,00,000 26. 1. 2011 Received an advance from customers Rs. 3,00,000 31. 1. 2011 Paid interest on bestow Rs. 5,000 31. 1. 2011 Paid instalment of loan Rs. 25,000 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 accountaffects and debit/credit 2 4 10 6The sideline 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 Stock Purchases Returns outwards Rs. credit 8250 Capital 12750 gross revenue 700 Returns inwards Rs. 10000 15900 1590 Discount received Wages and salaries Rent and rates motley debtors Bank Overdraft 800 2500 1850 7600 2450 Discount allowed Scooty Carriage charges Sundry creditors Bills payable 800 1750 700 7250 690 Journal entries of all the transactions Conclusion 3 6 10 4 From the given trial balance draft an Adjusted Trial Balance.Trial Balance as on 31. 03. 2011 Debit balances Furniture and Fittings Buildings Rs. Credit balances Rs. 10000 Bank Over compos e 16000 500000 Capital Account 400000 Sales Returns 1000 Purchase Returns 4000 Bad Debts 2000 Sundry Creditors 30000 Sundry Debtors 25000 Commission Purchases 90000 Sales Advertising 20000 Cash 10000 Taxes and Insurance 235000 5000 General Expenses 5000 7000 Salaries TOTAL 20000 690000 TOTAL 690000 Adjustments 1. 2. 3. 4. 5. Charge depreciation at 10% on Buildings and Furniture and fittings. create verbally off further bad debts 1000 Taxes and Insurance postpaid 2000Outstanding salaries 5000 Commission received in advance1000 Preparation of ledger accounts Preparation of trial balance 4 6 10 4 Compute heading 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 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 Revenue (Source I nfosys Technologies Ltd. Annual Report)Preparation of trend analysis Preparation of trend ratios 4 Conclusion 5 4 10 2 Give the meaning of cash flow analysis and put down the objectives of cash flow analysis. Explain the formulation of cash flow statement. Meaning of cash flow analysis Objectives of cash flow analysis 3 Explanation of preparation of cash flow analysis 6 2 10 5 Write the assumptions of marginal costing. Differentiate between absorption costing and marginal costing. Assumptions of marginal costing (all 7 points) 4 Differences of marginal and absorption costing (Includes all 8 6 points) 10