CVM`s SEMCOM Preliminary Examination (October

CVM’s
SEMCOM
Preliminary Examination (October-2014)
Date: 7th October, 2014
TYBCOM (Semester-V)
Advanced Accounting – IX
Time: 11:30 to 1:30
Total Marks: 30
Q.1
15
Chakra ltd. manufactures mixer grinders. The manufacture involves an assembly of various
parts, which are proceed in the machine shop and purchased components. The on/off switch is
presently being purchased from a vendor at Rs. 4.50 each, annual requirement being 20,000
pieces.
The production manager has put up a proposal 2 months back to make the switch in
the machine shop. He had suggested that the company will save profit and taxes on bought out
switch. The costing department was asked to make an estimate of making the item, which
showed that the cost of making was Rs. 4.73. The purchase department continued buying the
item on the basis of the cost estimate given to them. Recently, the vendor has sent a letter
requesting the purchase department to grant increase in price by 10% minimum per switch as
the input costs had gone up. The costing department was once again requested to estimate cost
of making the switch.
The costing department re-estimated the costs using current prices and
observed that the cost of making has gone up to Rs. 5.33. Purchase department again
decided to continue buying as it was cheaper to buy than make. The cost estimates
prepared by the costing department were as under:
Annual costs
-------------------------------------Previous
Current
Rs.
Direct Materials
Direct labour
Overheads at Rs. 3 per hour
40,000
20,000
30,000
---------90,000
4,500
----------94,500
----------4.73
Total cost at current prices
Add expected increase 5%
Cost per piece
25% of the overheads are fixed.
Rs.
48,000
22,000
31,500
---------1,01,500
5,075
-----------1,06,575
-----------5.33
Required: Do you agree with the decision of buying considering the relevant costs? If
the cost of making or buying is more or less same, what factors other than cost will
influence the making decision?
OR
1
Q.1
15
Mikado engineering company has received an export order for its sole product that would
require the use of half of the factory’s total capacity, which is estimated at 4,00,000 units per
annum. The factory is currently operating at 60 % level to meet the demand of its domestic
customers only. As against the current price of Rs. 6.00 per unit the export offer is Rs. 4.50 per
unit which is less than the total cost of production, the breakdown of which is given below:
Variable cost
Fixed overhead
Total cost
Rs. 4.00 per unit
Rs. 1.00 per unit
-----------------------Rs. 5.00 per unit
The condition of the export order is that it has either to be accepted in full or totally rejected.
The following alternatives are available for decision-making:
(a) Accept the order and keep domestic sales unfulfilled to the extent of excess demand for the
same.
(b) Increase factory capacity by installing a few balancing machines and equipment and also by
working overtime to meet the balance of the required capacity. This will increase the fixed
overhead by Rs. 15,000 annually and the additional cost for overtime work will be Rs. 40,000 per
annum.
(c) Reject the order and remain with the domestic market only.
Q.2
15
Atul production ltd manufactures the following three products. The information
relating to these product is under:PARTICULAR
Production unit
Direct material (per unit)
Direct wages
Fixed exp. (per unit)
Indirect variable exp. (per unit)
TOTAL COST (per unit)
A
B
C
3000
Rs.
16
12
20
20
-----
4000
Rs.
14
16
20
10
------
5000
Rs.
12
08
16
04
------
68
Selling price per unit
80
Profit (per unit)
60
70
12
40
44
10
04
Management of the company want to suspend the production of the less profitable
product , because the production of any one product is suspended , the production of another
will increase by 50%, so that the attention can be given to the production of the profitable
products . 75% fixed expenses of the product which is to be dropped out will incurred.
OR
Q.2
15
On the basis of the following information in respect of an engineering company, what is
the product mix, which will give the highest profit attainable? Do you recommend
overtime working upto a maximum of 15,000 hours at twice the normal wages.
Overheads are ignored for the purpose of this question?
2
Product
Raw material per unit (kg)
Labour hours per unit @ Re.1 per hour (Hrs.)
Sales price per unit (Rs.)
Maximum production possible (units)
A
B
10
15
125
6,000
C
6
25
100
4,000
15
20
200
3,000
1,00,000 Kg. Raw materials are available @ Rs. 10 per kg. Maximum production hours are
1,84,000 with facility for a further 15,000 hours on over time hours
Que.3
Followings are Balance sheets of Kavni Ltd. as on 31/3/2009 & 31/3/2010
Liabilities
Equity Sh.Cap.
10% Pref. shares
General Reserve
P& L A/C.
5% Debentures
Creditors
Bank Loan
31/3/09
500000
100000
100000
125000
200000
125000
75000
31/3/10
700000
--75000
135000
250000
150000
25000
1225000
1335000
Assets
Machinery
Building
Vehicles
Stock
Bank
Debtors
Prelimin. Exp.
Deb. Discount
31/3/09
600000
300000
125000
100000
50000
40000
10000
--1225000
(15 Marks)
31/3/10
750000
250000
130000
75000
75000
30000
20000
5000
1335000
Additional Information:
1) During the year Preference shares redeem at 10% premium, for which half the amount
transfer from general reserve and for remaining amount Equity shares issued at par.
2) During the year debentures issued at 10% discount.
3) A building costing of Rs.50,000 on which accumulated depreciation was Rs.15,000 was
sold at Rs. 30,000.
4) Dividend for previous year Rs.30000 declared and paid.
5) Bonus shares issued in ratio of 5:1.
You are required to prepare Fund-Flow Statement.
OR
Que.3
(15 Marks)
Followings are the Balance Sheets of Ankita Co. Ltd. as on 31/12/2010 & 31/12/2011
Liabilities
2010
2011
Assets
2010
2011
Eq. Share Capital
200000
300000 Goodwill
20000
15000
Profit & Loss A/C
100000
75000 Land Building
100000
75000
Bank Loan
20000
--- Plant
160000 295000
12% Debentures
50000
100000 Debtors
45000
50000
Creditors
20000
30000 Stock
40000
42000
Bills Payable
10000
5000 Bills Receivable
25000
30000
Cash & Bank
10000
2000
Debenture Discount
--1000
400000
510000
400000 510000
Other Information:
1) During the year company issues Right Shares in ration of 4:1.
2) During the year 12% Debentures issued at 5% Discount
3) Provide 10% Depreciation on fixed assets.
You are required to prepare Fund-Flow Statement.
3
Que.4
Followings are Balance sheets of Yash Ltd. as on 31/3/2010 & 31/3/2011.
Liabilities
Equity Sh. Cap.
P& L A/C.
5% Debentures
Creditors
Bank Loan
(15 Marks)
31/3/2010 31/3/2011
600000
700000
125000
135000
200000
250000
125000
150000
175000
100000
1225000
Assets
31/3/2010
31/3/2011
Machinery
600000
750000
Building
300000
250000
Vehicles
125000
130000
Stock
100000
75000
Bank
50000
75000
Debtors
40000
30000
Prelimin. Exp.
10000
20000
Deb. Discount
--5000
1335000
1225000
1335000
Additional Information:
1) During the year debentures issued at 10% discount
2) A building costing of Rs.50000 on which accumulated depreciation was Rs.15000 was
sold at Rs. 40000
3) Dividend for previous year Rs.30000 declared and paid
Prepare Cash Flow Statement
OR
Que.4
The followings are summarized Balance Sheets of Ronak Limited.
Liabilities
Equity sh. Capital
8% Pref. Sh. Cap
General Reserve
Profit & Loss A/C
Capital Reserve
Debentures
Creditors
Bills Payable
Taxation Provision
(15 Marks)
31/3/2009 31/3/2010
Assets
31/3/2009 31/3/2010
4,50,000 5,50,000 Machinery
4,00,000 3,20,000
1,00,000
---Investments
50,000
60,000
2,00,000 2,10,000 Stock
2,00,000 1,95,000
30,000
35,000 Bills Receivable
40,000
15,000
26,000
33,000 Debtors
2,00,000 4,55,000
----- 2,70,000 Cash
&
Bank 1,59,000 1,97,000
90,000
75,000 Balance
78,000
59,000
75,000
10,000
10,49,000 12,42,000
10,49,000 12,42,000
Other Information:
(1) During the year Machinery of Rs.10,000 sold at profit and the profit of same credited to
Capital Reserve. There is no other amount credited to Capital Reserve during the year.
(2) For redemption of preference shares necessary equity shares issued at par.
(3) During the year Dividend of Rs.40,000 paid.
Prepare Cash Flow Statement
4
CVM’s
SEMCOM
Preliminary Examination (October-2014)
Date: 10th October, 2014
TYBCOM (Semester-V)
Advanced Accounting – X
Time: 11:30 to 1:30
Total Marks: 60
Que.1
(15 Marks)
From the following Information prepare income statements as per absorption costing & marginal
costing.
Sales- 5000 Units@ Rs.30 P.U.
Closing Stock- 1500Units
Opening Stock-500 Units (Variable Cost Rs. 8 Per unit, Fixed Cost Rs.8000)
Variable Factory Cost- Rs. 5 per Unit
Variable Administrative Cost- Rs. 10 per Unit
Fixed Factory Cost-Rs.30000
Fixed Administrative Cost-Rs.60000
Variable Sales Cost- Rs. 4 per Unit
Fixed Sales Cost- Rs.12000
OR
Que.1
(15 Marks)
From the following Information prepare income statements as per absorption costing & marginal
costing.
Production-10000 Units
Sales- 9000 Units@ Rs.35 P.U.
Opening Stock- 500 Units (Variable Cost Rs. 6 Per unit, Fixed Cost Rs.5000)
Variable Factory Cost- Rs. 7 per Unit
Variable Administrative Cost- Rs. 8 per Unit
Fixed Factory Cost-Rs.40000
Fixed Administrative Cost-Rs.50000
Variable Sales Cost- Rs. 3 per Unit
Fixed Sales Cost- Rs.18000
Budgeted fixed production cost was Rs.80,000 of r the production of 10,000 units.
Que.2
(15 Marks)
Explain the Meaning and Advantages of value added. How value added statement is differ from
Profit & Loss A/C?
OR
Que.2
(15 Marks)
st
For the year ended on 31 March, 2014 following transactions recorded in book of Raj Co. Ltd.
Particulars
Amt. (Rs.)
Sales
20,00,000
Raw Material Cost
5,07,000
Direct Wages
4,12,000
Interest on Investment
42,000
Salary to office staff
1,10,000
Depreciation on Assets
63,000
Sales Tax
20,000
Income Tax
20% on Profit
1
Managerial Remuneration
Royalty Paid
Interest on Bank Loan
Dividend on Equity Share
50,000
25,000
12,000
40,000
You are required to prepare Income Statement & Value Added Statement, for the year ended on
31st March, 2014.
Question : 3
The Profit & Loss A/c of Swift Ltd. For the year ended 31 March, 2008 was as follows.
Dr.
Profit & Loss A/c
Rs.
Opening Stock
2,00,000 Sales
Purchases
9,00,000 Interest on Govt. Securities
Wages
80,000 Profit on Sale of Plant
Office/Admn. Expenses
2,05,000 Closing Stock
Sales Expenses
5,000
Interest on Debentures
8,000
Interest (Bank overdraft)
7,000
Depreciation
14,000
Loss on Sale of Machinery
11,000
Provision for Tax
1,00,000
Net Profit
1,20,000
16,50,000
Liabilities
Equity Share Capital
Preference Shares (10%)
Reserves
Profit & Loss Account
Debentures (11 %)
Bank overdraft
Current Liabilities
Balance Sheet (A : 31 March, 2008)
Rs.
Assets
5,00,000 Land & Buildings
3,00,000 Plant & Machinery
55,000 Govt. Securities
45,000 Stock
1,00,000 Debtors
75,000 Cash
1,25,000 Discount (Shares)
12,00,000
(15 Marks)
Cr.
Rs.
14,20,000
11,000
9,000
2,10,000
16,50,000
Rs.
2,75,000
4,75,000
1,00,000
2,50,000
60,000
30,000
10,000
12,00,000
Calculate: (1) Return on Gross capital employed (2) Return on Net capital employed.
OR
Question: 3
Discuss Du Pont chart in detail.
(15 Marks)
Question: 4
Discuss the scope and utility of environmental accounting.
OR
(15 Marks)
Question: 4
Discuss different methods of transfer pricing.
(15 Marks)
2
SEMCOM
S G M ENGLISH MEDIUM COLLEGE OF COMMERCE & MANAGEMENT
VALLABH VIDYANAGAR
Prelims Exam 2014-15
TYBCOM- Semester-V
SUB: BRAND MANAGEMENT
Date: - 10/10/2014
Q.1
Q.1
Q.2
Q.2
Q.3
Q.3
Q4.
Q4.
Time: 11:30 to 01:30
SUB CODE: UB05ECOM06
Marks: 60
What do you mean by Brand? Explain concept, types & significance 15
of branding.
OR
Explain the concept o and sources of Brand Identity.
15
Define Brand Equity. Explain the sources of brand equity.
OR
Write a detail note on consumer-based brand equity.
15
15
What do you mean by Brand Position? Discuss the various 15
guidelines for effective positioning strategies.
OR
What is brand repositioning? Explain various strategies for brand
repositioning with examples.
Explain the concept of Brand Extension & discuss the advantages of
brand extension in detail.
OR
Explain the concept of Brand Hierarchy in detail.
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SGM ENGLISH MEDIUM COLLEGE OF COMMERCE & MANAGEMENT
VALLABH VIDYANAGAR - 388120
PRELIMINARY EXAMINATION
B.Com (SEMESTER - V)
BUSINESS TAXATION - I
Date: 09-10-2014
Time: 11:30 to 1:30
Q-1 [A]
[B]
No. of Pages: 03
Total Marks: 60
Justify the statement: “Every Assessee is a person but every person is not an
Assessee”
Explain following terms:
1. Previous Year with exception
2. Dividend
(07)
(08)
OR
Q-1
Explain following terms:
1) Assessment Year
2) Casual Income
3) Total Income
(15)
Q-2 [A]
Discuss rules of Residential Status of an Individual Assess with exceptions.
(07)
Write on deductions available:
1. Under section 80 D
2. Under section 80 E
(08)
[B]
OR
Q-2 [A]
[B]
[C]
Discuss rules of Incidence of Tax for an Individual Assessee.
List out any 10 fully exempted incomes under section 10.
General Deduction available under section 80 G.
(05)
(05)
(05)
Q-3 [A]
Mr. Sahas (employed in Mehsana) provides following details of his income for the
previous year 2013-14.
1. Basic Pay Rs. 4,00,000
2. Dearness Allowance Rs. 2,00,000
3. Bonus Rs. 20,000
4. House Rent Allowance Rs. 72,000
5. Rent paid at the rate of Rs. 6,000 per month for his residence. From 1st
February, 2014, he vacated the rented residence and moved to his own
house.
6. Only 40% of the Dearness Allowance is being considered for the retirement
benefits.
Compute exempted and taxable amount of House Rent Allowance for the
Assessment year 2014-15.
(06)
[B]
Mr. Karim joined Construction company on 1-1-2007 in the grade of Rs. 14,000 –
(03)
1
1,000 – 20,000 – 2,000 – 36,000 with one increment. Due to best service allowed
him an additional increment on 1-1-2012. Calculate Basic pay of Mr. Karim for
A.Y. 2014-15.
[C] Determine taxability of the following perquisites.
(06)
1. The employer has provided a car (without driver) all expenses of maintenance
are borne by the employee. The car is for office and private use and has 1.8 lt.
cubic capacity engine.
2. The company has paid bills of Rs. 22,500 for the use of telephone facility
provided at his residence.
3. The company gave him birthday gift (in cash) of Rs. 4900.
4. The company has provided concessional lunch facility during office hours for
which a token amount per dish is deducted from salary (cost per dish Rs. 100
for 290 days is borne by the company).
5. The company has transferred a laptop to the name of employee at a token price
of Rs. 5,000 as against its original cost of Rs. 75,000 used by the company for
last 3 years (Depreciation @ 50% pa rate under DBM is to be considered)
OR
Q-3
Ms. Vani Parikh joined a company at Valsad as Assistant Manager with basic
salary of Rs. 2,40,000. From the following particulars compute his taxable salary
income for the assessment year 2014-15.
(15)
1.
2.
3.
4.
Dearness allowance: 30% of basic salary. (Forming part of salary)
Education allowance: Rs. 26,800.
She has three children two them are staying in collage hostel.
Company has provided him a residential house. Fair rent of this house is
Rs. 1,15,000 per annum. In this house a company has provided furniture
costing Rs. 75,000.
5. Company has paid Rs. 20,800 for medical treatment of her husband in a
private clinic.
6. Employer and employee contribute each Rs. 16,000 per annum towards
RPF.
7. Rs. 41,600 interest credited in his recognized provident fund @ 12.5%.
8. Company provided her a motor car of 18 H.P. for office and private use.
All expenses of maintenance of motor car amounting to Rs. 72,000 per
annum are born by the company.
9. The company has paid following expenses on her behalf
a. Salary of sweeper Rs.600 pm
b. Gas-Electricity Bill Rs. 16,000 per annum [50% used for official
purpose]
10. She has paid Professional tax Rs. 2,400.
Q-4
For the Previous Year 2013-14, Mr. Manit submits the following information.
Determine taxable income from House Property for A.Y. 2014-15.
2
(15)
Particulars
Nature of occupation
Fair rent
Municipal valuation
Standard rent
Annual rent
Unrealized rent of the previous year 2013-14
Unrealized rent of the previous year 2012-13
Vacancy period
Loss on account of vacancy
Municipal taxes paid
Land revenue
Insurance
Interest on capital borrowed by mortgaging
House 1 (funds are used for construction
House 2)
House 1
Let out for
residence
3,50,000
3,60,000
3,00,000
6,00,000
10,000
--2 months
1,00,000
40,000
5,000
20,000
1,40,000
House 2
Let out for
business
3,20,000
3,50,000
5,00,000
4,20,000
80,000
3,00,000
4 months
1,40,000
50,000
7,000
30,000
---
OR
Q-4
Ms. Vaishvi owns following house properties. Compute her taxable
the head of Income from House Property for the A.Y. 2014-15.
House 2
House 1
Use of Property
SelfLet out
occupied
Municipal valuation
30,000
20,000
Annual fair rent
24,000
21,000
Standard rent
25,000
--Monthly rent receivable with 2,500
--amenities
Municipal taxes (paid)
2,000
1,000
Value of tenants’ amenities provided 1,000
--by the land-lord (included in rent)
Interest on loan taken for the 15,000
7,000
construction
Total capitalized interest during 5,000
2,500
construction period
Year of completion of construction
2011-12
2009-10
Vacancy period
3 months
---
3
income under
House 3
Selfoccupied
36,000
32,000
----2,000
--4,000
5,000
2010-11
---
(15)
SEMCOM
S G M ENGLISH MEDIUM COLLEGE OF COMMERCE & MANAGEMENT
VALLABH VIDYANAGAR
Prelims Exam 2014-15
TYBCOM- Semester-V
SUB: SERVICE MARKETING
Date: - 07/10/2014
Q.1
Q.1
Q.2
Q.2
Q.3
Q.3
Q4.
Q4.
SUB CODE: UB05ECOM05
Time: 11:30 to 01:30
Marks: 60
What do you mean by Service? Explain the characteristics of 15
Service Marketing?
OR
Explain the service marketing-mix in detail with practical example. 15
What are the different levels of serviced product? Discuss the new 15
service development process in detail.
OR
How do you define price? Describe the various pricing methods for 15
service organization.
Explain the different distribution channel for service marketing 15
strategy.
OR
Discuss the various elements to be considered for location 15
decisions of service outlets.
What is service quality? Discuss the characteristics of service 15
quality.
OR
Write down a detailed note on determinants of service quality
15
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