Anna University Chennai 2007 B.A Economics commerce - Question Paper
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%.
|
Attachment: |
| Earning: Approval pending. |
