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horngrens accounting managerial

Questions and Answers of Horngrens Accounting managerial

You are given the following Balance Sheets of Alka Company Ltd. for the year ending 31st. December, 2005 and 2006. You are required to prepare a Cash Flow Statement for the year ending 31st.
From the following information you are required to prepare a Cash Flow Statement for the year ending 31st December, 2003:Balance Sheets Liabilities 2007 2008 Assets 2007 2008 Rs. Rs. Rs. Rs.Share
From the following Balance Sheets of Mr. Patel on 1st April, 2007 and 31st. March, 2008, prepare Cash Flow Statement:Balance Sheets Liabilities 1.4.2007 31.3.2008 Assets 2006 31.3.2008 Rs. Rs. Rs.
Following is the Balance Sheet of Rahul & Co. for two years, prepare Cash Flow Statement:Balance Sheets Liabilities 2007 2008 Assets 2007 2008 Rs. Rs. Rs. Rs.Share Capital 2,00,000 2,50,000 Cash
From the following comparative Balance Sheets as on 31st December, prepare Cash Flow Statement:Balance Sheets Particulars 2006-07 2007-08 Rs. Rs.Liabilities:Share Capital 1,40,000 1,48,000 Profit and
Prepare Cash Flow Statement on the basis of the following information given in the Balance Sheets of P. S. Ltd.:Balance Sheets Liabilities 2007 2008 Assets 2007 2008 Rs. Rs. Rs. Rs.Share Capital
From the following Balance Sheets of M/s V. S. Electronics Ltd. as on 31.12.2007 and 31.12.2008, prepare a ‘Cash Flow Statement’:Balance Sheets of M/s V.S. Electronics Ltd.(as on 31st
Prepare a Cash Flow Statement of Bulbul Ltd. on the basis of information given in the Balance Sheets:Balance Sheets Liabilities 2006-07 2007-08 Assets 2006-07 2007-08 Rs. Rs. Rs. Rs.Equity Share
The following balances appeared in Machinery Account and Accumulated Depreciation Account in the books of Jai Bharat Ltd.:Particulars 31.3.2007 31.3.2008 Rs. Rs.Balances as at:Machinery Account
Reconcile the following two statements quoting examples to illustrate the validity of each:(i) “Costing is an instrument of managerial control.”(ii) “Costing is nothing more than a detailed
“Financial accounting procedures are generally designed to ascertain the periodic profit or loss, but there are important limitations and deficiencies in the system”.Explain.
“Costs may be classified in a variety of ways according to their nature and, the information needs of management.” Explain.
Describe briefly the various methods of costing. State giving reasons which method of costing you would recommend for use in the following:(i) Chemical Works;(ii) Road Transport Company;(iii) Steel
Eluadate the various functions of management accounting and also difference between management accounting and con-accounting
Mention with reasons the type of costing you will adopt in the following capital industries:(a) Cement manufacturing; (b) Soap manufacturing;(c) Railways; (d) Ship-builders;(e) Bicycle
Differentiate between:(a) Cost Unit and Cost Center.(b) Cost Allocation and Cost Apportionment.(c) Direct Cost and Indirect Cost.(d) Operating Cost and Process Cost.(e) Cost Reduction and Cost
Distinguish between Historical Costing and Standard Costing Systems.
Distinguish between Cost Estimation and Cost Ascertainment. Explain why both are important to a manufacturing concern.
What cost unit will you choose for the following industries and why do you choose that unit? (a) Brick making; (b) Queries; (c) Flour mills; (d) Textiles; (e) Steel works.
What is a Direct Cost? Explain its significance.
Distinguish clearly between Direct and Indirect Materials. Under what circumstances may direct materials be charged indirectly to the finished product.
Outline the costing system for aluminum industry. Draw a cost sheet (with assumed figures) showing the cost of finished product.
Explain Value Added Concept. Discuss its utility. Prepare a value added statement with imaginary figures.
Write short notes on:(a) Activity Based Costing.(b) Bank flush Costing.(c) Opportunity Cost Concept.(d) Life Cycle Costing.(e) Cost Center.(f) Operation Costing.(g) Controllable and Uncontrollable
The work cost appears to mean different under different settings and applications. In this context, explain and illustrate the uses of the following cost concepts:(a) Incremental Costs, (b) Direct
Define and give examples of an opportunity cost, an out of pocket cost, a marginal cost and an average cost.
A company manufacturers and retails clothing. You are required to group the costs which are listed below and numbered 1 to 20 into the following classification: (each cost is intended to belong to
The manufacturing Cost Data of a factory is as under: (Figures are in Rs. ‘000)Work-in-Progress Finished Goods Placed in Opening Closing Opening Closing Proceed in Direct Material 160 400 900 1,000
The following particulars have been extracted from books of M. Manufacturing Co.Ltd., Calcutta, for the year ended 31st March, 1994:Rs.Stock of materials as on 31-3-1993 47,000 Stock of materials of
The cost of the sale of product ‘X’ is made up as follows:Rs.Materials used in manufacturing 10,200 Materials used in packing materials 2,500 Materials used in selling the product 350 Materials
Calculate: (a) Value of raw material consumed, (b) Total cost of production,(c), Cost of goods sold, and (d) The amount of profit, from the following particulars:Rs.Opening Stock:Raw Material 5,000
A Manufacturer has shown an amount of Rs. 16,190 in his books as “establishment”which really includes the following expenses:Rs.Agents Commission 5,750 Warehouse Wages 1,800 Warehouse repair 510
Explain the different categories in which the accounting transactions can be classified.Also state the rule on ‘debit’ and ‘credit’ in this connection.
Explain the meaning of term “Journal” and state its significance.
Explain the different rules for journalising the transaction with appropriate illustrations.
Explain the meaning of the term “Real Accounts”.
Explain the term “Accounting Cycle”.
What is an opening entry?
Briefly explain the difference between: (a) Personal and Impersonal Accounting. (b) Real Accounts and Nominal Accounts.
Define Accounting. What is the difference between bookkeeping accounting and accountancy?
Explain the role of an Accountant in the present-day economy.
Explain the principle of accounting.
Explain the meaning of term “journal” and state its significance with illustrations.
What is the Trial Balance and give an example?
What is meant by Subsidiary Books? What is their importance in present Book-keeping?Describe the subsidiary books generally used in business.
What is a Cash Book? State its various types. Whether it is journal or ledger? Discuss its advantages.
What do you understand by triple column cash book? Prepare a specimen of it and enter five hypothetical entries on both sides.
What do you understand by ‘Posting’? Explain how the transactions recorded in triple columnar cash book are posted to ledger?
What are the Subsidiary Books? What are the benefits of having them in addition to journal? Give specimen columns of three subsidiary books with the imaginary entries in each one of them.
What is Purchase Book? What are its advantages? Give a proforma of the same and enter five imaginary transactions in it. Also show how these transactions will be posted into ledger.
Name the Subsidiary Books and discuss them fully.
Explain the sub-division of ledger.
Write various kinds of cash book.
Give the specimen of Sales Book with three transactions.
Give the specimen of Purchase Book with three transactions.
What is Petty Cash Book? Give specimen of a Petty Cash Book.
Give the specimen of Analytical Petty Cash Book with five transactions.
Write the methods of closing various types of accounts.
Write the name of main subsidiary books kept under Double Entry System.
Write the types and accounting rules of accounts.
Explain in brief Debtors Ledger and Creditors Ledger.
Define General Ledger.
Cash Book is different from Petty Cash Book.
Cash purchase of assets is recorded in Cash Book.
Income and Exdpenditure are entered in Sales Book.
Cash transactions are recorded in Cash Book.
Cash and credit purchase is recorded in Purchase Book.
The cash book records:(a) All cash receipts (b) All cash payments(c) All cash receipts and payments (d) None of the above
Sale of goods on credit is recorded in:(a) Cash Book (b) Sales Book(c) Sales Return Book (d) Journal
The balance of cash column is: (a) Always debit (b) Always credit(c) Either debit or credit (d) None of the above
Journal proper records: (a) All transactions (b) Only credit transactions(c) Only cash transactions(d) All transactions not recorded in any subsidiary books
Enter the following transactions of Dindayal in his simple Cash Book and balance the same (Narration not required):2007 Rs.June 1 Opening balance of cash 7,453“ 5 Purchased goods for cash 2,166“
Enter the following transactions into double columnar Cash Book (Narrations not required):2007 Rs.Jan “2 Opened Current Account and deposited into Bank 8,000“ 6 Cheque received from Bihari and
Enter the following transactions into Double column cash book and balance it(Narrations not required):2007 Rs.April, 1 Capital invested in business 1,20,000“ 2 Opened current account and deposited
From the following particulars of Mr. Dutta, prepare a cash book with cash and bank column for the month of March, 2007 (Narrations are not required):2007 Rs.March, 1 Balance in hand Rs. 5,200;
M/s Bhatia & Company has been allowed an overdraft facility up to Rs. 50,000 by Punjab National Bank. The following are the transactions for the month of June, 2007:2007 Rs.June, 1 Cash in hand
From the particulars, given below, prepare a three-column cash book (Narrations are not required):2007 Rs.April, 1 Cash in hand 5,675“ 1 Cash at bank 1,26,753“ 2 Paid into Bank 5,000“ 5
Write the following transactions in the proper cash book and bank balance(Narrations are not required):2007 Rs.April, 1 Cash-in-hand 5,600 Cash at Bank 48,000“ 2 Paid salary by cheque 8,000“ 3
Enter the following transactions into three columnar Cash Book (Narrations are not required):2007 Jan., 1 Balance—Cash in hand Rs. 600 and with Allahabad Bank Rs. 20,000.“ 3 Received Rs. 700 from
Enter the following into Ayush & Sons Cash Book with Discount, Cash and Bank Columns:2007 Rs.April, 1 Opening Cash Balance 2,250“ 1 Bank Overdraft 4,000“ 2 Cash Sales Rs. 5,000 out of which
On 1st April, 2007 the balance according to Cash Book was Rs. 2,500. On the same day Rs. 700 is advanced to the Petty Cashier who renders accounts weekly. Write‘Analytical Petty Cash Book’ from
Enter the following transactions in proper subsidiary books of Swaroop:2007 Rs.June 4 Purchased goods from Chopra 7,800“ 8 Sold goods to Patel 4,000“ 10 Goods returned from Patel 400“ 12
The following balances were extracted from the books of Sheetal on 31st Dec., 2008, Prepare trial balance.Rs.Capital Balance 50,000 Business Premises 30,000 Furniture & Fixtures 20,000 Plant &
The following balances appear in the books. You are asked to prepare a Trial balance.Capital Rs. 23,900 Insurance Premium Rs. 200 Machinery Rs. 10,000 Rent received in advance Rs. 500 Int. on
Prepare correct Trial Balance from the following Trial Balance in which there are mistakes:Name of Accounts L.F. Dr. Bal. Cr. Bal.Rs. Rs.Capital 1,50,000 —Closing Stock — 40,000 Debtors —
Following are the totals of accounts of ledger of Shri Ashok. Prepare Trial Balance according to Balance Method:Name of Accounts L.F. Dr. Bal. Cr. Bal.Rs. Rs.Capital — 1,50,000 Machinery 1,30,000
From the following ledger balance, prepare a Trial Balance of M/s Mohit Traders as on 31.3.2009. Capital Rs. 7,24,000, Sales Rs. 11,23,000, Sales Return Rs. 17,100, Purchase Rs. 6,27,000, Purchases
Define Depreciation.
State four main reasons of charging depreciation.
State the merits of Straight Line Method.
Write short notes on:(i) Straight Line Method (ii) Diminishing Balance Method
Write a note on Assets Disposal Account.
Distinguish between depreciation and fluctuations.
Distinguish between Straight Line Method and Written Down Value Method.
Name any two methods of providing depreciation.
Name any two features of depreciation.
Mention three causes of providing depreciation.
What is Depreciation Accounting?
What do you mean by residual value of assets?
Is depreciation needed in business?

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