Bangalore University 2006 B.Com Financial Accouting II - Question Paper

II Semester B.Com. Examination, May/June 2006
(Semester Scheme)
COMMERCE
Financial Accouting II

Time : three Hours Max. Marks : 90

Instructions : Answers should be fully in English or in Kannada.

part - A

ans any 10 of the subsequent. every ques. carries two marks.
(10x2=20)

1. a) What is meant by Fire Claims ?

b) Whay avg. Clause is included in Fire Claims ?

c) compute the amount of Fire Claim by applying avg. Clause from the subsequent :

Rs.
Loss of stock by fire 2,00,000
Amount of policy 1,71,000
Total value of stock 2,28,000

d) provide a specimen of Bill Receivable Account as prepared under single-entry system.

e) State 2 drawbacks of single entry system.

f) Ascertain opening stock when :
Purchases 1,20,000
Wages 40,000
Sales 2,00,000
Closing stock 30,000

Percentage of G.P on sales is 25%.

g) How do you allocate the subsequent Expenses in Departmental Account ?

1) Carriage-in-wards 2) Advertising Expenses.

h) Mention important objectives of departmental accounts.

i) What is stock reserve ?

j) What is goods-in-transit ? provide an example.

k) obtain out loading which is 25% of Invoice price of goods, when the cost of goods is Rs. 60,000.

l) provide importance of Accounting standards.

part - B

ans any five of the subsequent. every ques. carries five marks.
(5x5=25)

2. On 15th June, 2005. the Premises and stock of a Firm was destroyed by fire, but the Accounting records were saved from which the subsequent particulars were available.

Rs.
Stock on 1-1-2004 1,47,000
Stock on 31-12-2004 1,63,800
Purchases for the year 2004 7,96,000
Sales for the year 2004 9,74,000
Purchases from 1-1-2005 to 15-6-2005 3,24,000
Sales from 1-1-2005 to 15-6-2005 4,62,400
Carriage-out-wards from 1-1-05 to 15-6-05 22,000
Stock salvaged 60,600

Earning:   Approval pending.