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Anna University Chennai 2007 B.A Economics commerce - Question Paper

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MODEL QUESTION PAPER PART - III COMMERCE, PAPER-I (EnglishVersion)

Time : 3 hours    Max. Marks : 100

PART - A

2 x 10 = 20 Marks

1) Answer any TWO ofthe following questions not exceeding 40 lines each.

a)    What is meant by partnership ? Explain its six merits and three demerits.

b)    Write any ten differences between a Private company and a public company.

c)    Define Money and explain the functions of money.

4 x 5 = 20 Marks

II.    Answer any FOUR ofthe following questions not exceeding 20 lines each.

a.    Explain different types of industries with examples.

b.    Write any five principles / features of co-operative societies.

c.    Explain any Five advantages of multinational corporations.

d.    Write any five essentials of good filling.

e.    Describe any Five types of preference shares.

f.    Write any five merits of debentures.

5x2 = 10 Marks

III.    Answer any FIVE ofthe following questions not exceeding 5 lines each

a.    State the meaning ofEntrepot Trade.

b.    Explain Mithakshara Law

c.    What is a Certificate of commencement of business ?

d.    What is Statement in lieu of Prospectus ?

e.    Mention any two problems facing by the Public Enterprises.

f.    Write about Franking Machine.

g.    What is working capital.

h.    Write aboutEXIM BANK

PART-B

(Marks - 50)

IV. Answer anv TWO ofthe following questions.    2x5 = 10

Marks

a)    Describe the accounting concepts.

b)    State the types of accounts and their principles

c)    Prepare Kishore Account in the books of Gopal from the following transactions.

2002

September, 1 Purchased goods from Kishore    Rs.20,000/-

3 Sold Goods to Kishore    Rs.10,000/-

6 Goods returned to Kishore    Rs.250/-

8 Cheque received from Kishore    Rs.750/-

10 Sold goods to Kishore    Rs.4,000/-

12 Purchased goods from Kishore    Rs.2,000/-

18 Cash paid to Kishore    Rs.3,000/-

30 Goods sold to Kishore    Rs.300/-

(d) Record the following transactions in the subsidiary books.

2002

April,    1    Purchased goods from Krishna    Rs.1,000/-

3    Sold Goods to Ramesh    Rs.3,000/-

6    Purchased Goods from Narayana    Rs.5,000/-

10 Sold Goods to Pavan    Rs.2,000/-

15 Purchased goods from Govind    Rs.500/-

V.    Answer any ONE ofthe following questions

a) Prepare triple column cash book from the following information

2002

March, 1 1 Cash in hand    Rs.10,000/-

Cash at Bank    Rs.10,000/-

2 Received cheque from Gopal    Rs.18,000/-

Discount allowed    Rs.200/-

4 The above cheque was sent to the Bank

8 Drawn from bank for office use    Rs.6,000/-

14 Mr. Rao directly deposited

a cheque into the Bank    Rs.4,000/-

22 Bought furniture    Rs.2,000/-

30 Cash remitted into Bank    Rs.1,800

(OR)

b) Prepare Bank Reconciliation statement as on 31 -12-2002 from the following particulars.

1.    Overdraft balance as per pass book Rs. 15,000/-

2.    Interest on overdraft Rs.500/- was debited in the pass book but not posted in the cash book.

3.    Bank charges Rs.70/- were posted in the Pass Book but not recorded in the Cash Book

4.    Cheques issued but not presented for payment before 31-12-2002 were Rs.3,000/-

5.    Cheques sent for collection but not credited by Bank by 31 -12-2002 were Rs.6,000/-

6.    An amount of Rs.5,600/- has been collected as dividend and credited in the pass book only but not recorded in the Cash Book.

VI.    Answer any FIVE ofthe following questions. 5x2 = 10 Marks

a.    What is capital ?

b.    Write any two advantages of Double Entry system.

c.    Journalise the following transactions.

2001 January, 1 Sold goods to Jyothi

6 Purchased goods from Kavitha

10 Cash paid to Devika

Rs. 1,000/-

Rs.500/-


15 Commission paid

d.    Write any two advantages of Ledger.

e.    Explain the termDebit Note.

f.    What is Contra Entry?

g.    From the following balances, write the opening Entry.

Cash in hand

Rs.10,000/-

Cash at Bank

Rs.25,000/-

Sundry Creditors

Rs.3,000/-

Sundry Debtors

Rs.4,000/-

Bills receivable

Rs.8,000/-

Furniture

Rs.3,500/-

Bills payable

Rs.2,000/-

h. Prepare a Trial balance as on 31-12-2002

Capital

Rs.50,000/-

Cash at Bank

Rs.20,000/-

Furniture

Rs.15,000/-

Buildings

Rs.25,000/-

Sundry Debtors

Rs.10,000/-

Sundry Creditors

Rs.20,000/-

From the following Trial balance of Krishna, prepare Trading, profit and loss account forthe year ending 31-12-2002 and Balance sheet as on that date.

Debit Balances

Amount

Rs.

Credit Balances

Amount

Rs.

Salaries

12,000

Capital

50,000

Purchases

52,000

Sales

94,000

Trade Expenses

2,000

Discount

400

V\feges

15,600

Creditors

42,000

Carriage

800

Bills payable

13,600

Audit Fees

1,000

Commission

1,200

Bad debts

2,400

Debtors

60,000

Furniture

6,000

Machinery

20,000

Insurance

800

Bills Receivable

4,000

Opening Stock

14,000

Cash in hand

1,000

Cash at Bank

7,200

2,00,000

2,00,000

Adjustments:

1.    Closing stock Rs.22,000/-

2.    Outstanding wages Rs.4,000/-

3.    Prepaid Insurance Rs.100/-

4.    Provide Bad debts reserve at 5%

5.    Depreciate Machinery and furniture by 5%.







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