Dr B R Ambedkar Open University (BROU) 2009-2nd Year B.Com B.A//B.Sc (3YDC) First Spell , conducted by Dr BR Ambedkar Open University - Question Paper

Total No.of Pages:7]
Code No.216/A/09
S64
FACULTY OF COMMERCE
B.A/B.com/B.Sc second Year(3YDC) 1st Spell Examination, May 2009
Subject code No& Name:08 COMMERCE GROUP-A
Course Code No& Name: 02 - Accountancy


Time:3 Hours]
[Max Marks:100
[Min Marks:35

SECTION- A
[Marks: 4x15= 60]

Instructions to the candidates:
a) ans any 4 of the subsequent ques. in about 30 lines every.
b) every ques. carries 15 marks

1) Distinguish ranging from consignment and sale ?.

2) What is a Bill of Exchange ? elaborate its features ?

3) discuss various kinds of reserves.

4) From the subsequent particulars prepare Bank Reconciliation statement as on 31-12-2008.

a) Bank balance as on per Cash book on 31-12-2008 Rs. 8000.
b) Interest allowed by the bank Rs.300 is not obtained on Cash book.
c) Bank charges appearing in passbook only Rs. 60.
d) Cheques issued before 31-12-2008 but not cashed Rs. 1200.
e) Cheques deposited but not credited before 31-12-2008 amounted to Rs 2000.
f) Dividend collected by bank on behalf of the Customer Rs.300. appearing in passbook
only.

5) From the subsequent Trail Balance of Kiran as on 31-03-2008, prepare final accounts.

Dr.Balances Rs Cr. Balances Rs.

Drawings 7,200 Capital 60,000
Stock 1-4-2007 20,500 Sales 1,40,000
Purchases 68,000 Creditors 14,300
Carriages 1,500 Bills payable 4,200
Debtors 23,000 Discounts 1,000
Cash 2,700 Salaries 17,700
Bills Receivable 9,300 Insurance 1,200
Furniture 10,000
Machinery 28,000
Office Rent 2,000
Wages 21,000
General expenses 6,900

Total 2,20,000 2,20,000

Adjustments:
a) Stock on 31-03-2008 was valued at Rs.27,000
b) Write off Rs. 500 as bad debts and raise the provision for bad debts at 5% on debtors.
c) Unexpired insurance Rs. 300
d) Depreciate Machinery and furniture by 10%

6) provide rectification entries for the subsequent errors.
a) Purchases book was under cost by Rs. 100
b) Goods sold to Ram Rs.200 was passed through purchases book
c) Repairs to buildings Rs.800 was debited to building account.
d) Discount allowed Rs.100 was not posted to Discount account.
e) Wages paid for the installation of Machinery Rs 10,000 was debited to wages account.
f) Salaries paid Rs. 1200 was not posted.

7) On 1-1-98 Naveen purchased a machine fro Rs.90,000 and spent Rs.10,000 for installation.
On 1-1-2000 he purchased a different machine for Rs 80,000. On 31-1-2001, he sold the 1st
machine for Rs. 40,000. Naveen depreciates the machinery at 10% under straight line
method.Prepare Machinery account up to 31-03-2002, assuming the books are closed every year
on 31st March.

8) provide the Journal entries for the subsequent transactions.
2008 Jan one Eshwar Commenced business with a cash of Rs. 1,00,000
Jan one Purchased a motor truck Rs. 40,000
Jan two Purchased goods from Anand Rs. 15,000.
Jan three Sold goods Rs. 2000.
Jan four Returned goods to Anand Rs.1,000
Jan five Sold goods to Chand Rs. 2,500.
Jan 10 Cash purchases Rs.5000.
Jan 12 Goods returned by Chand Rs. 200.



part –B
[Marks: 5x8 = 40]

Instructions to the candidates:

a) ans any 5 of the subsequent ques. in about 15 lines every.
b) every ques. carries eight marks.

9) What is Trail Balance? Why is it prepared ?

10) What is journal proper ? elaborate the entries recorded in it ?

11) elaborate the Causes for depreciation ?

12) discuss ‘ Business entity concept’.

13) elaborate the rules of double entry ?

14) Prepare consignment account from the subsequent.
a) Cost of goods consigned Rs. 10,000
b) Sales(Whole consignment) Rs 15,000
c) Consignor’s Expenses Rs 1,000
d) Consignee’s Expenses Rs 500
e) Consignee to get commission at 5% on sale

15) On 1-1-2008 ‘A’ Sold goods to ‘B’ for Rs. 5000. And wrote a three months bill for the identical
amount, which was duly accepted by ‘B’ on 1-2-2008 A discounted the bill for Rs.4000.
On the due date 'B’ dishonoured the bill. provide Journal entries in the books of ‘A’

16) provide the adjustment entries.
a) Prepaid insurance Rs. 600
b) Outstanding Rent Rs. 500
c) Closing stock Rs. 12,000
d) Interest on Capital Rs. 400

17) The Joint Venture of ‘A’ and ‘B’ resulted in a profit of Rs 10,000.’A’ and ‘B’ agreed to
share the profit in 3:2 Ratio. provide the Journal entries (relating profit) in the books of
‘A’ and ‘B’ under the “Memorandum Joint Venture Method”.

18) Ascertain the cost of goods sold.
Opening stock Rs. 40,000
Closing stock Rs. 20,000
Purchases Rs. 3,00,000
Sales Rs. 4,50,000
Wages Rs.27,000
Office expenses Rs. 15,000




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216/A/09

Earning:   Approval pending.