Monday, December 07, 2015
Roll No………..
Total No. of Questions: 07
B.Com. (Sem.-1st)
FINANCIAL
ACCOUNTING
Subject Code:
BCOP-101
Paper ID:
[B1101]
Time:3
Hrs. Max.
Marks: 60
INSTRUCTIONS
TO CANDIDATE:
1.
Section –A This is Compulsory. It consists of 10 sub-questions of 2 mark each .Answer to each question should be
given in 2-5 lines.
2.
Section-B, It consists of six questions. Attempt any four questions. Each question carries ten marks.
SECTION
–A
Q.1. Write
Short Notes on the following
(a) Business Entity Concept
(b) Subsidiary Books
(c) Errors of Principles
(d) Promissory Notes
(e) Provisions
(f) Average Due Date
(g) Straight Line Method of
Depreciation
(h) Bad debts
(i) Self Balancing Ledgers
(j) Final Accounts
SECTION
–B
Q.2. M/s XYZ
are maintaining three ledgers i.e. Debtors Ledger, Creditors Ledger and Normal
Ledger,
All these ledges are maintained on the system of self Balancing. From the following
particulars,
prepare adjustments account that would
appear
in each of these ledgers.
|
Date
|
Particulars
|
Amount
(Rs.)
|
|
March,1
|
Balance of Sundry Debtors
Balance
of Sundry Creditors
|
32,000
39,000
|
|
March,31
|
Credit
Purchases
Credit
Sales
|
9,000
19,600
|
|
|
Cash
Sales
|
3,000
|
|
|
Paid
to Creditors
|
19,750
|
|
|
Discount
Allowed by them
|
1,250
|
|
|
Cash
Received From Debtors
|
15,600
|
|
|
Discount
Allowed to them
|
4,00
|
|
|
Bills
payable Accepted
|
3,000
|
|
|
Bills
payable Received
|
6,000
|
|
|
Returns
Inward
|
1,750
|
|
|
Returns
Outward
|
12,00
|
|
|
Rebates
Allowed to Debtors
|
550
|
|
|
Rebates
Allowed to Creditors
|
300
|
|
|
Provisions
for Doubtful Debts
|
640
|
|
|
Bad
Debts
|
900
|
|
|
Bills
Receivable Dishonoured
|
750
|
Q.3. Write
note on the followings :
(a)
Accounting Equation
(b) Accounting Cycle
Q.4.
Journalise the following Transactions in the books of M/s Shanker
2013
Rs.
June
1 Started business with a capital of 50,000
June
2 Paid into bank 30,000
June
4 Purchased goods from kamal on credit 15,000
June
6 Paid to shiram (he allowed discount of
Rs. 100) 4,900
June
8 Cash Sales 20,000
June
12 Sold to Hameed 5,000
June
15 Purchased goods from Bharat on credit
9,500
June
18 Paid Salaries 4,000
June
20 Received from prem (Discount allowed
Rs.20) 2,480
June
25 Withdraw from bank for office use 5,000
June
28 Withdraw for personal use 4,000
June
30 Paid Hanif by cheque 7,000
Q.5. Prepare
Bank Reconciliation Statement of M/s Ashima Travels, from the
following
information :
Bank
overdraft as per Cash Book on 31st july,2006 Rs. 55.000
Cheques
issued but not presented for payment Rs.
7,500
Cheques
deposited but not yet collected by the bank Rs.
6,600
Interest
on investment collected by the bank Rs. 2,100
Bank
charges Rs.1350 debited by the bank not yet entered in the cash book.
Q.6 From the
following trial balance extracted from the books of Thiru.
Venkatachalam
as on 31.03.2013
prepare (i) Trading and Profit & Loss A/C and
(ii) Balance Sheet.
Trial
Balance as on 31-03-2013
Debit Balances Rs. Credit Balances Rs.
Cash
in hand 2,000 Capital 2,00,000
Machinery 60,000 Sales 2,54,800
Stock 50,000 Sundry Creditors 40,000
Bill
receivable 1,600 Bank overdraft 22,000
Sundry
debtors 50,000 Return outwards 3,000
Wages 70,000 Discount received 1,800
Land 40,000 Bills Payable 1,800
Carriage
inwards 2,400
Purchases 1,80,000
Salaries 24,000
Rent 4,000
Postage
1,000
Return
inwards 3,200
Drawings
10,000
Furniture
18,000
Interest
600
Cash
at bank 6,600 5,23,400 5,23,400
Q.7. Explain
various types of errors which an accountant may make while writing
the
books
of accounts.
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