Gujarat University 2007 B.C.A Computer Application _ Financial Accounting and Management (Old ) - Question Paper
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FBCA-05
April-2007
Seat No. :
Financial Accounting and Management
(Old Course)
Time : three Hours] [Max. Marks : 50
1. (a) What is an Account ? provide the proforma of an account and also provide the rules of debit and credit. (6)
(b) What is Accounting formula ? State the Accounting formula with an improper example of it. (4)
OR
Record the subsequent transactions in the subsidiary books of M/s. Shah & Sons. (10)
2007
January
1 Started a business with cash of Rs. 10,000.
2 Opened an account with a Bank by depositing Cash of Rs. 2,000.
4 Purchased furniture of Rs. 2,000 from A to Z Furniture Mart.
4 Purchased Goods of Rs. 4,000 from Arvind Stores at 10% trade discount.
5 Out of the goods purchased from Arvind Stores, 1/3rd of the goods were sold to Binit Brothers at 50% profit on Cost Price.
6 Binit Brothers returned the damaged goods of Rs. 300 and the identical goods were returned to Arvind Stores.
10 Cash sales amounted to Rs. 5,000, while cash purchase amounted to Rs. 1,000.
15 Received a cross cheque of Rs. 1,450 from Binit Brothers in full settlement.
16 Paid to A to Z Furniture Mart a cheque of Rs. 1,900 in full settlement.
19 Withdrawn Rs. 200 from bank for office use.
31 Paid Salary of Rs. 2,800 by cash and rent of Rs. 350 by cheque.
2. Prepare Final Accounts of Parikh Brothers for the year ended 31st December, 2006 from
the subsequent Trial Balance and additional information (10) Trial Balance as on 31st December, 2006
Debit Balances Rs. Credit Balances Rs.
10% Investments (1–7–06) Interest on 10% Bank Loan Furniture
Plant & Machinery Land & Building Cash on hand
Bills Receivable Debtors Drawings
Printing & Stationery
Bad Debts Insurance Premium Advertisement Salaries
Carriage Outward
Octroi
Carriage Inward
Wages
Sales Return
Purchases
Stock (1–1–2006) 18,400
1,200
4,000
8,000
60,000
2,400
8,000
32,800
4,000
1,200
2,000
3,200
400
4,800
1,200
1,600
800
2,000
8,000
1,04,000
12,000 Commission
Bad Debt Recovered
10% Bank Loan
Sales
Purchases Return Bad Debt Reserve Capital
Creditors Bills Payable Bank Overdraft 4,400
2,000
24,000
1,68,000
4,000
1,600
52,000
18,000
4,000
2,000
2,80,000 2,80,000
Additional info :
(i) Stock as on 31–12–2006 was Rs. 10,000.
(ii) Outstanding Salary and Prepaid Insurance were Rs. 800 and Rs. 400 respectively. (iii) Depreciate Land & Building, Plant & Machinery at 10% p.a. and 20% p.a.
Earning: Approval pending. |