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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A commenced business on 1st April, 2018 with a capital of ₹ 10,000. He immediately bought Furniture and Fixtures for ₹ 2,000. On 1st October, 2018, he borrowed ₹ 5,000 from his wife @ 9% p.a. (interest not yet paid) and introduced a further capital of his own amounting to ₹ 1,500. A drew @ ₹ 300 per month at the end of each month for household expenses. On 31st March, 2019 his position was as follows:
Cash in Hand ₹ 2,800; Sundry Debtors ₹ 4,800; Stock ₹ 6,800; Bills Receivable ₹ 1,600; Sundry Creditors ₹ 500 and owing for Rent ₹ 150. Furniture and Fixtures to be depreciated by 10%.
Ascertain the profit or loss made by A during 2018-19.
Cash in Hand ₹ 2,800; Sundry Debtors ₹ 4,800; Stock ₹ 6,800; Bills Receivable ₹ 1,600; Sundry Creditors ₹ 500 and owing for Rent ₹ 150. Furniture and Fixtures to be depreciated by 10%.
Ascertain the profit or loss made by A during 2018-19.
Prepare a Bank Reconciliation Statement as on 31st March, 2019 from the following:
- On 31st March, 2019, Cash Book of a firm showed bank balance of ₹ 36,000 (Dr.).
- Cheques had been issued for ₹ 30,000, out of which cheques of ₹ 24,000 were presented for payment.
- Cheques of ₹ 8,400 were deposited in the bank on 28th March, 2019 but had not been credited by the bank. Also, a cheque of ₹ 3,000 entered in the Cash Book on 30th March, 2019 was banked on 3rd April.
- A cheque from Suresh for ₹ 2,400 was deposited in the bank on 26th March, 2019 was dishonoured, advice was received on 2nd April.
- Pass Book showed bank charges of ₹ 120 debited by the bank.
- One of the Debtors deposited ₹ 3,000 in the bank account of the firm on 26th March, 2019, but the intimation in this respect was received from the bank on 2nd April.
Mr. Asif Ali, a retail trader, who keeps Incomplete Records gives you the following information for the year $2018-19:$
The Assets and Liabilities were as follows:
Other Informations:
→The Assets and Liabilities were as follows:
Other Informations:
- Credit Sales during the year were $₹\ 35,100.$
- Sales returns $₹\ 800.$
- Credit Purchases during the year were $₹\ 30,000.$
- Discount allowed to Debtors $₹\ 300.$
- Discount received from Creditors $₹\ 130.$
- Make a provision for doubtful debts $@ 5\%$ on Debtors.
- Also make a provision for discount $@ 2\%$ on Debtors.
On 15th June, 2019, X sold to Y goods to the value of ₹ 15,000 drawing upon the latter two bills, one for ₹ 10,000 payable 2 months after date and other for ₹ 5,000 payable 3 months after date, X discounted the first bill with his bank at 6% p.a. and endorsed the second bill in favour of his creditor, Z. The first bill was met on maturity but the second was dishonoured. Z paid ₹ 50 as noting charges. On 1st October, Y cleared his account to X by paying ₹ 5,100 which included ₹ 50 as interest.
Record the necessary Journal entries in the books of both X and Y.
Record the necessary Journal entries in the books of both X and Y.
Distinguish between a Balance Sheet and Trial Balance. (Any five points)
‘An accounting report is essential a report which must be able to fulfil certain basic criteria' Explain? List the various types of accounting reports.
What is Accounting Information System?
Chakravarti does not maintain proper books of accounts. Following information is obtained from his books for the year ended $31^{st}$ March, $2018$:
The Stock on $31^{st}$ March, $2018$ was valued at ₹ $20,000$ but Chakravarti has no record of the Stock on $1^{st}$ April, $2017$. However, he informs you that he sells his goods at cost plus $25\%$.
Prepare his Cash Book, Trading and P & L A/c for the year ended $31^{st}$ March, $2018$ and a Balance Sheet as at that date.
→The Stock on $31^{st}$ March, $2018$ was valued at ₹ $20,000$ but Chakravarti has no record of the Stock on $1^{st}$ April, $2017$. However, he informs you that he sells his goods at cost plus $25\%$.
Prepare his Cash Book, Trading and P & L A/c for the year ended $31^{st}$ March, $2018$ and a Balance Sheet as at that date.
Mr. White does not keep his books properly. Following information is available from his books.
During the year Mr. White sold his private car for ₹ $50,000$ and invested this amount into the business. He withdrew from the business ₹ $1,500$ per month upto $31^{st}$ October, $2015$ and thereafter ₹ $4,500$ per month as drawings. You are required to prepare a statement of profit or loss and a statement of affairs as at March $31, 2016$.
→During the year Mr. White sold his private car for ₹ $50,000$ and invested this amount into the business. He withdrew from the business ₹ $1,500$ per month upto $31^{st}$ October, $2015$ and thereafter ₹ $4,500$ per month as drawings. You are required to prepare a statement of profit or loss and a statement of affairs as at March $31, 2016$.
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