Question
Write a note on relationship between Accounting Information System, Manufacturing Information System and Human Resource System.
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Answer
Relationship between Accounting Information System, Manufacturing Information System and Human Resource System. 
The above diagram depicts how the three functional departments are mutually related. The human resource department sends a list of number of workers, their category their level of skill etc. to the manufacturing department and to the accounts department. The manufacturing department on receiving such list sends a report of level of production achieved by each worker and other deductions to be made from their wages on various Accounts. This report is send by the manufacturing department to both Accounts department as well as the HR department. The accounts department on receiving such reports make its own calculations of the various statutory payments and dues of the workers and make the final payments and send the report of the same to both HR Department as well as the manufacturing department to monitor the performance of the workers.
The above diagram depicts how the three functional departments are mutually related. The human resource department sends a list of number of workers, their category their level of skill etc. to the manufacturing department and to the accounts department. The manufacturing department on receiving such list sends a report of level of production achieved by each worker and other deductions to be made from their wages on various Accounts. This report is send by the manufacturing department to both Accounts department as well as the HR department. The accounts department on receiving such reports make its own calculations of the various statutory payments and dues of the workers and make the final payments and send the report of the same to both HR Department as well as the manufacturing department to monitor the performance of the workers.Need a full question paper?
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Mr. Joshi started a business with a capital of ₹ 5,00,000. At the end of the year his position was:
Sundry creditors at this date totalled ₹ 80,000. During the year he introduced a further capital of ₹ 1,50,000 and withdrew for household expenses ₹ 90,000.
You are required to calculate profit or loss during the year.
Sundry creditors at this date totalled ₹ 80,000. During the year he introduced a further capital of ₹ 1,50,000 and withdrew for household expenses ₹ 90,000.
You are required to calculate profit or loss during the year.
Gopal keeps incomplete records. On $1^{st}$ April, $2016, $ his position was as follows:
His position on $31^{st}$ March, $2017$ was as follows: Cash in hand $₹\ 3,000;$ Cash at Bank $₹\ 5,000;$ Stock $ ₹\ 44,000;$ Debtors $₹\ 21,000$; Fixed Assets $₹\ 80,000$; Creditors $₹\ 22,000$. You are informed that Gopal has taken stocks worth $₹\ 4,500$ for his private use and that he has been regularly transferring $₹\ 2,000$ per month from his business banking account by way of drawings. Out of his drawings he spent $₹\ 15,000$ for purchasing a Scooter for the business on $1$st October, $2016.$
You are requested to find out his profit or loss and to prepare the Statement of Affairs after considering the following:
→His position on $31^{st}$ March, $2017$ was as follows: Cash in hand $₹\ 3,000;$ Cash at Bank $₹\ 5,000;$ Stock $ ₹\ 44,000;$ Debtors $₹\ 21,000$; Fixed Assets $₹\ 80,000$; Creditors $₹\ 22,000$. You are informed that Gopal has taken stocks worth $₹\ 4,500$ for his private use and that he has been regularly transferring $₹\ 2,000$ per month from his business banking account by way of drawings. Out of his drawings he spent $₹\ 15,000$ for purchasing a Scooter for the business on $1$st October, $2016.$
You are requested to find out his profit or loss and to prepare the Statement of Affairs after considering the following:
- Depreciate Fixed Assets and Scooter by $10\%$ p.a.
- Write off Bad-Debts $₹\ 1,000$ and provide $5\%$ for doubtful debts on Sundry Debtors.
- Commission earned but not received by him was $₹\ 2,500.$
What do you understand by multi-valued attribute? How is it different from complex and composite attribute? Illustrate by giving suitable example.
From the following figures prepare the Trading and Profit and Loss Account for the year ended 31st March, 2019 and the Balance Sheet as at that date:
Adjustments:
Adjustments:
- Commission include ₹ 1,600 being commission received in advance.
- Write off ₹ 2,000 as further Bad-debts and maintain Bad-debts provision at 5% on debtors.
- Expenses paid in advance are: Wages ₹ 5,000 and Insurance ₹ 1,200.
- Rent and Salaries have been paid for 11 months.
- Loan from X has been taken at 18% p.a. interest.
- Depreciate furniture by 15% p.a. and Motor Car by 20% p.a.
- Closing Stock was valued at ₹ 60,000.
Bring out the relationship between AIS and Marketing Information System.
From the following balances and adjustments taken from the books of Pankaj & Co., prepare Trading and Profit & Loss Account for the year ending $31^{\text {st }}$ March, 2023 and the Balance Sheet as at that date:
→| Particulars | ₹ | Particulars | ₹ |
| Capital | 65,000 | Stock ($1^{\text {st }}$ April, 2022) | 32,000 |
| Creditors | 36,800 | Debtors | 12,500 |
| Rent Received | 600 | Cash at Bank | 22,560 |
| Purchases Return | 4,000 | Drawings | 5,000 |
| Sales | 2,89,600 | Purchases | 1,71,000 |
| Provision for Doubtful Debts | 600 | Carriage Inwards | 1,500 |
| Advertisement Expenses | 16,050 | Wages | 23,000 |
| Goodwill | 49,000 | Power | 9,000 |
| Machinery | 20,000 | Insurance | 22,000 |
| Discounts Received | 1,800 | Salaries | 46,390 |
| General Expenses | 8,600 | Income Tax | 5,000 |
| Sales Return | 600 | Bank Loan | 55,000 |
| Discount Allowed | 5,000 | Interest on Bank Loan | 1,500 |
| Patents | 2,700 |
Adjustments:
i. On $31^{\text {st }}$ March, 2023, stock is valued at cost ₹ 23,000 .
ii. A furniture costing ₹ 45,000 was purchased on $1^{\text {st }}$ July, 2022 but it was not recorded in the books as payment was not made for it. Wages ₹ 5,000 were paid for assembling which have been debited to Wages Account.
iii. Provide depreciation on both Machinery and Furniture @10%p.a. and amortise patents by one-third.
iv. Increase Provision for Doubtful Debts to ₹ 2,000 .
v. Carry forward $\frac{2}{3}$ rd Advertisement Expenses as unexpired.
vi. Annual Insurance premium of ₹ 1,200 has been paid up to $30^{\text {th }}$ June, 2023.
vii. Manager is to get $10 \%$ commission on net profit before charging such commission.
viii. A fire broke out on $25^{\text {th }}$ March, 2023 destroying goods costing ₹ 20,000, which were not insured.
Manu started business with a capital of ₹ 4,00,000 on 1st October, 2005. He borrowed from his friend a sum of ₹ 1,00,000. He brought further ₹ 75,000 as capital on 31st March, 2006, his position was:
Cash: ₹ 30,000; Stock: ₹ 4,70,000; Debtors: ₹ 3,50,000 and Creditors: ₹ 3,00,000.
He withdrew ₹ 8,000 per month during this period. Calculate profit on loss for the period.
Cash: ₹ 30,000; Stock: ₹ 4,70,000; Debtors: ₹ 3,50,000 and Creditors: ₹ 3,00,000.
He withdrew ₹ 8,000 per month during this period. Calculate profit on loss for the period.
From the following trial balance, prepare the trading and profit and loss account for the year ended 31st March, 2013 and the balance sheet as at that date.
Additional Information
i. Closing stock Rs 12,000 .
ii. Goods costing Rs 2,000 were distributed as free samples while goods costing Rs 1,000 were taken by the proprietor for personal use.
iii. A credit sale of Rs 4,000 was not recorded in the sales book.
iv. Closing stock included goods costing Rs 2,000 which were sold and recorded as sales but not delivered to the customer.
v. Maintain provision for doubtful debts @ 5\%.
| Name of Accounts | Amt(Rs) | Name of Accounts | Amt(Rs) |
| Salaries | 20,446 | Sales | 1,32,840 |
| Bills receivable | 12,754 | Capital | 1,00,000 |
| Investments | 80,000 | Provision for doubtful debts | 5,000 |
| Furniture | 24,000 | 10% Loan (1st October, 2012) | 20,000 |
| Opening stock | 9,000 | Discount received | 800 |
| Purchases | 60,000 | Sundry creditors | 18,600 |
| Sundry debtors | 40,000 | Bills payable | 10,000 |
| Interest on loan | 800 | Outstanding salaries | 1,000 |
| Insurance premium | 1,800 | Bad debts recovered | 400 |
| Wages | 9,200 | Interest on investments | 4,000 |
| Rent | 3,040 | Trading commission | 14,000 |
| Bad debts | 2,400 | ||
| Carriage Outwards | 1,200 | ||
| Cash at Bank | 20,000 | ||
| Depreciation of furniture | 5,000 | ||
| Accrued commission | 2,000 | ||
| Advertisement | 15,000 | ||
| 3,06,640 | 3,06,640 |
Additional Information
i. Closing stock Rs 12,000 .
ii. Goods costing Rs 2,000 were distributed as free samples while goods costing Rs 1,000 were taken by the proprietor for personal use.
iii. A credit sale of Rs 4,000 was not recorded in the sales book.
iv. Closing stock included goods costing Rs 2,000 which were sold and recorded as sales but not delivered to the customer.
v. Maintain provision for doubtful debts @ 5\%.
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On examining the Bank Statement of Green Ltd., it is found that the balance shown on 31st March, 2019, differs from the bank balance of ₹ 23,650 shown by the Cash Book on that date. From a detailed comparison of the entries it is found that:
- ₹ 2,860 is entered in the Cash Book as paid into the bank on 31st March, 2019 but not credited by the bank until the following day.
- Bank charges of ₹ 70 on 31st March, 2019 are not entered in the Cash Book.
- A bill for ₹ 5,500 discounted with the bank is entered in the Cash Book without recording the discount charges of ₹ 270.
- Cheques totalling ₹ 16,720 were issued by the company and duly recorded in the Cash Book before 31st March, 2019 but had not been presented at the Bank for payment until after that date.
- On 25th March, 2019, a debtor paid ₹ 1,000 into the Company's Bank in settlement of his account but no entry was made in the Cash Book of the company in respect of this.
- No entry has been made in the Cash Book to record the dishonour on 15th March, 2019, of a cheque for ₹ 550 received from Ram Babu. Prepare a Bank Reconciliation Statement as on 31st March, 2019.