Assignment Questions for M.Com. Part I (Sem. I) Mar./Apr. 2017 Instructions for Assignment Submission Please note following instructions for submission of Assignments: 1. These assignments should be submitted only by those students who have registered for M.Com. Part I (Sem. I) Distance mode Repeaters, the examinations to be held in Mar./Apr. 2017. 2. For each subject s assignment the maximum marks obtainable are 20. 3. Attempt any two questions out of three. (Each question carry marks). 4. For each course / paper / subject, assignment should be Hand Written on a separate sheet. Only Blue Colored Ink Pen is to be used for Assignment Writing. 5. Only A4 / Assignment paper should be used for the Assignment Writing. 6. A separate set should be made for each subject. 7. A cover page as per the format given below on page number 2 should be attached on the top of the set for each subject. 8. Finally for a particular semester, one file should be made for all subjects. 9. Examination Hall Ticket must be attached with assignments when it submits to respective Study Centre.. Submit the assignments to the respective Study Centre where you had taken the admission for academic year 2016-17. 11. It is the student s responsibility to ensure that the assignments reach the centre on or before the due date. No excuses of any kind for late or non-submission of assignments will be entertained. 12. If a student is unable to submit the assignment(s) in person, the student may at his / her own risk submit the assignment(s) through an acquaintance, fellow student or by courier. 13. Submit the assignments only when you will get the seat no. or generate Hall Ticket for Mar./Apr. 2017 exam. In case of any query contact : Shri. Dattatray K. Kamalakar Course Co-ordintor, Commerce, Centre for Distance Education, Shivaji University, Kolhapur. Telephone: - (0231) 2693871 E-mail:- cde_com@unishivaji.ac.in Last Date for Assignment Submission:- 20 th April, 2017
M.Com. Part I (Sem. I) Mar./Apr. 2017 Distance Mode Exam Seat No. :- Assignment for the Subject of Paper Number :- Subject Code :- Name of the Candidate :- Name of the Study Centre :- Address :- Pin Code :- Mobile No :- PRN Number :- Course :- M.Com. Part I (Sem. I) Distance Mode. Date of Submission of Assignments :- Signature of Student :- Marks obtained out of 20 :- Signature of Evaluator of Assignment :-
M.Com. Part I (Sem. I) Assignment Questions Note : 1. All questions carry equal marks. 2. Attempt Any Two for all Papers. Sub. : Management Concepts and Organizational Behavior Paper I (Management Concepts) Q.1 Define Management and explain functions of management. Q.2 Define Motivation and explain process of motivation. a. Management in 21 st century b. Types of Coordination Sub. : Managerial Economics Paper I Q.1 Describe nature and scope of Managerial Economics. Q.2 Explain Law of Demand and Types of elasticity of Demand. a. Price Elasticity b. Break-Even Analysis Sub. : (Group a) Advanced Accountancy Paper I Q.1 The following are the Balance Sheet of the two companies as on 31/3/2016 Liabilities AB Ltd. CD Ltd. Assets AB Ltd. CD Ltd. Equity share Land & Building 2,50,000 2,00,000 capital,00,000 4,00,000 Furniture & 70,000 20,000 (Rs. 0 each) Fittings Plant & General reserve 2,00,000 1,20,000 4,00,000 2,20,000 Machinery Profit and loss Goodwill 80,000 60,000 2,80,000 1,80,000 A/c Stock 2,00,000 1,80,000 Sundry creditors 1,60,000 1,00,000 Sundry debtors 40,000 1,50,000 Investment in Bills payable -------- 80,000 4,80,000 ----- shares 3000 Eq.
shares in CD ltd. Cash at bank 1,20,000 50,000 16,40,000 8,80,000 16,40,000 8,80,000 The following additional information is supplied to you. a) AB ltd acquired 40,000 shares of CD ltd. On 1//2015. b) The stock of CD Ltd includes goods of the value of Rs. 16,000, which were supplied by AB Ltd. At a profit of 33 rd on cost. c) The balance on profit and loss a/c of CD Ltd. As on 1/04/2015 was Rs. 40,000 and General reserve Rs. 1,00,000. Prepare a consolidated Balance sheet of AB ltd. And its subsidiary CD ltd as on 31/03/2016 Q.2 A) A firm of contract obtained a contract for construction of bridges across a river. The following details are available for the year ended 31/03/2007 Particular Rs. In lakhs. Total contract price 5000 work certified 2500 work uncertified 5025 Estimated further cost to completion 475 Progress payments received 2000 To be received 140 Find out total foreseeable loss to be recognized as expenses. B) Compute the percentage of completion and contract revenues and costs to be recognized. Contract Price Rs. 75 lakhs. Material issued to the contract: Rs. 18 lakhs of which materials costing Rs. 3 lakhs is still lying unused at the end of the period. Labour paid Rs. 12 lakh. (Rs. 2 lakh is still payable.) Specific contract cost Rs. 6 lakh, sub- contract cost for work executed Rs. 5 lakh, advances paid to sub contractors Rs. 3 lakh. Cost estimated to be incurred to complete the contract Rs. 30 lakh. a. Objective and Need of Accounting Standards b. Difference between IFRS and GAAP
Sub. : (Group a) Advanced Accountancy Paper II (Auditing) Q.1 What do you mean by management audit? Explain scope and salient feature of management audit. Q.2 What is meant by Report & Distinguish between Auditors Report and Auditors Certificate. a. Tax Audit b. Cost Audit Sub. : (Group b) Advanced Costing Paper I Q.1 Explain objectives of cost accounting. Q.2 The following transactions took place in respect of an item of material. Receipts (Qty.) Rate (Rs.) Issue (Qty.) 2.3.2016 200 2.00 -.3.2016 300 2.40-15.3.2016 - - 250 18.3.2016 250 2.60-20.3.2016 - - 200 Record the above transaction in the stores ledger and pricing the issues at simple average rate. a. Prime Cost, Factory Cost, Cost of Production, Cost of Sales b. Idle Time and Over Time Sub. : (Group b) Advanced Costing Paper II Q.1 The Modern Company is divided into four departments A, B, C are producing departments and D is a service department, the actual costs for a period are as follows : Rs. Rs. Rent 00 Supervision 1500 Repairs to plant 600 Fire insurance in respect of 500 Repairs to plant 450 Employers liability for insurance stock 150 Power 900 Light 120
The following information is available in respect of the four departments : Dept. A Dept. B Dept. C Dept. D Area (sq. mtrs.) 1500 10 900 500 Number of employees 20 15 5 Total wages (Rs.) 6000 4000 3000 2000 Value of plant (Rs.) 24,000 18000 12000 6000 Value of stock (Rs.) 15,000 9000 6000 - H. P. of plant 24 18 12 06 Apportion the costs to the various departments on the most equitable basis. Q.2 A product passes through three distinct processes to completion. These processes are numbered respectively 1, 2 and 3. During the week ended 500 units are produced. Process 1(Rs.) Process 2 (Rs.) Process 3 (Rs.) Direct Material 3000 1500 00 Direct Labour 2500 2000 2500 Direct Exp. 500 0 500 The overhead expenses for the period over Rs. 1400 appointed to the processes on the basis of wages. No work in progress or process stocks existed at the beginning or at the end of the week. Prepare Process Account. a. Contract Costing b. Service Costing Sub. : (Group c) Taxation Paper I (Income Tax) Q.1 Compute the total income and tax liability of Mr. Puneet for A.Y. 2013-14. Mr. Puneet, aged 60 years, who retired from the services of the Central Government on 30.6.2012, furnishes particulars of his income and other details as under: a) Salary @ Rs. 7,000 p.m. b) Pension @ Rs. 1,500 p.m. for July 2012 to Nov 2012. c) On 1.12.2012, he got 1/3rd of his pension commuted for Rs. 1,60,000. d) A house plot at Salem sold on 21.1.2013 for Rs. 4,50,000 had been purchased by him on 28..1978 for Rs. 12,000. The stamp valuation authority had assessed the value of said house plot at Rs. 6,50,000 which was neither disputed by the buyer nor by him. The fair market value of this house plot as on 1.4.1981 was Rs. 16,000
(The cost inflation index for the financial year 2012-13 is 852). e) Received interest of Rs. 70,000 on bank FDRs, dividend of Rs. 13,000 on mutual fund units and interest of Rs. 45,000 on maturity of NSC, out of which an amount of Rs. 35,000 was already disclosed by him on accrual basis in the returns upto assessment year 2012-13. f) Investment in PPF for Rs. 1,00,000 and payment of mediclaim insurance for self and wife of Rs.18,250 by cheque. He also spent Rs. 6,000 in cash for preventive health check up. Q.2 Write short note on Determination of Residential Status of Individual. Determine the Residential status for Assessment Year 2016-17, of Mr Steve Smith (Australian Cricket Player) visiting India for 0 days per year from Last Years. a. Assessment Year and Previous Year b. Assesses Sub. : (Group c) Taxation Paper II (Income Tax) Q.1 From the following particulars, compute the total income of Mr. Raj for the A.Y. 2013-14 and the losses, if any, to be carried forward to A.Y.2014-15:- Particulars Rs. Salaries 2,75,000 Loss from textile business 3,50,000 Profit from retail trade 1,95,000 Long-term capital loss on sale of listed equity shares (STT paid) 25,000 Long-term capital gains on sales on land 40,000 Short-term capital loss on sale of listed equity shares (STT paid) 50,000 Loss from speculative business 15,000 Loss from house property 75,000
Q.2 Discuss the taxability or otherwise of the following in the hands of the recipient under section 56(2)(vii) the Income-tax Act, 1961 - a) Shivam HUF gifted a car to daughter of Karta for winning the first prize in all India music competition. b) Mrs. Parth received 200 shares of ABC Ltd. from her friend as a gift on occasion of her 50th marriage anniversary. The fair market value on that date was ` 150 per share. She also received jewellery worth ` 35,000 (FMV) from her niece on same day. c) Manish HUF received ` 55,000 in cash from nephew of Manish (i.e., son of Manish s sister). Manish is the Karta of Manish HUF. d) Shivang, a member of his father s HUF, transferred a house property to the HUF without consideration. The stamp duty value of the house property is ` 12,00,000. a. Steps on E-Filing of Income Tax Returns b. Partner Remuneration Under Sec 40(b) Sub. : (Group d) Advanced Banking and Financial System Paper - I (Law and Practice of Banking in India) Q.1 Describe powers and functions of R.B.I. as per RBI Act 1934. Q.2 Describe main provisions regarding Paying Bank as per Negotiable Instrument Act, 1881. a. Stock exchange recognition b. Provisions regarding Mortgage Sub. : (Group d) Advanced Banking and Financial System Paper - II (Bank Management) Q.1 Explain the various functions involved in Bank Management. Q.2 Describe features of lending policies of bank with reference to loans and advances. a. Liquidity management in Banks b. BASEL norms
Sub. : (Group e) Cooperation and Rural Development Paper I (Principles of Cooperation) Q.1 Elaborate the role played by cooperation in economic development of India. Q.2 Give the main provisions of Maharashtra cooperative act 1960 in brief. a. Challenges before cooperative movement b. Credit planning by cooperatives Sub. : (Group e) Cooperation and Rural Development Paper II (Rural Economy in India) Q.1 Explain the problems faced by rural economy in India. Q.2 Explain role played by Regional Rural Banks in development of rural infrastructure in India. a. Water resources in Rural India b. Mechanization of agriculture Sub. : (Group f) Business Administration Paper I (Introduction to Business Administration) Q.1 Explain the importance of business administration. Q.2 What is mean by social audit? State its status in India. a. Spot Analysis b. Corporate Culture and Ethics Sub. : (Group f) Business Administration Paper II (Functional Areas of Management: HR and Production) Q.1 Explain the different functions of Human Resource Management. Q.2 What are the objectives of operations management? a. Flexi Time and flexi Work b. Logistic Management