M.Com semester 1 previous year question papers of Karnataka State Open University

Will you please share with me the M.Com semester 1 previous year question papers of Karnataka State Open University?

[Kiran Chandar]

As you want to get the M.Com semester 1 previous year question papers of Karnataka State Open University so here it is for you:

Time : 3 Hours Max. Marks : 90
PART – A

Answer any three questions. Each question carries 15 marks. (15×3=45)
1. Define accounting. Explain in detail the need and scope of accounting.
2. What is Human Resource Accounting ? Discuss the various methods of valuation
of human resources in India.
3. What is financial statement analysis ? Explain the various tools of financial
statement analysis.
4. From the following information, you are required to prepare a Balance Sheet.
Current Ratio 1.75
Quick Ratio 1.25
Stock Turnover Ratio (Based on Closing Stock) 9 times
Gross Profit Ratio 25%
Average Collection Period (in months) 1.5
Ratio of Reserves to Capital 0.2
Turnover of Fixed Assets 1.2
Debt-Equity 0.6
Fixed Assets to Net Worth 1.25
Sales for the year Rs. 24,00,000

MCO (P) 94 -2-
5. From the following summarized Balance Sheets of Sri. Raghavendra Co. Ltd.,
as on 31-03-2008 and 31-03-2009, prepare
a) Statement showing changes in working capital
b) Funds flow statement.
Liabilities 31-03-2008 31-03-2009
Rs. Rs.
Share Capital 4,50,000 5,00,000
General Reserve 3,00,000 3,10,000
Profit and Loss Account 56,000 68,000
Creditors 1,68,000 1,34,000
Mortgage Loan – 2,20,000
Provision for taxation 75,000 10,000
10,49,000 12,42,000
Assets 31-03-2008 31-03-2009
Rs. Rs.
Fixed Assets 4,00,000 3,20,000
Investments 50,000 60,000
Stock 2,40,000 2,10,000
Debtors 2,10,000 4,55,000
Bank 1,49,000 1,97,000
10,49,000 12,42,000
Additional information :
a) Investments costing Rs. 8,000 were sold during the year for Rs. 8,500.
b) Provision for taxation made during the year amounted to Rs. 9,000.
c) During the year, a part of the fixed assets costing Rs. 10,000 were sold for
Rs. 12,000.
d) Dividend paid during the year amounted to Rs. 40,000.
-3- MCO (P) 94

PART – B

Answer any three questions. Each question carries 10 marks. (10×3=30)
6. Give an account of procedures followed in government system of accounting in
India.
7. Discuss the various accounting conventions which influence the preparation of
financial statements.
8. Explain the concept of Responsibility Accounting.
9. The Balance Sheet of Aashish Ltd. revealed the following among other things.
31-3-2006 31-3-2007
Inventories 5,50,000 6,10,000
Book Debts 4,50,000 5,50,000
Cash at Bank 60,000 80,000
Advances for supply of materials 1,00,000 1,26,500
Due to suppliers 2,50,000 3,22,000
During 2006-07, material prices rose by 15% and those of finished goods by
10%. Calculate the monetary working capital adjustment to be made under current
cost accounting system.
10. The working capital of ABC Ltd. has deteriorated in recent years and now stands
as under.
Current Assets : Inventory 5,60,000; Debtors 3,50,000 and Cash 70,000
Current Liabilities : Creditors 4,90,000 and Bank Loan 2,10,000
a) Compute the current and quick ratios.
b) A further bank loan of Rs. 50,000 against debtors is under negotiation.
Assuming the loan is revised, calculate the revised current and quick ratios.

PART – C

Answer any three sub-questions. Each sub-question carries five marks. (5×3=15)
11. a) Give a brief account of Indian GAAP.
b) What is meant by inflation accounting ?
c) How are cash flows classified in a cash flow statement ?
d) Write a note on bench marking.
e) What are the limitations of ratio analysis ?

Contact Details:
Karnataka State Open University
14th Cross, 2nd Stage,
Manasa Gangothri Campus,
Gokulam,
Manasa Gangothri,
Mysore,
Karnataka 570006 ‎
097 39 330033
India

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