Dr B R Ambedkar Open University (BROU) 2008 B.Com Accounts - Question Paper

Time allowed: two hours

Answers to this paper must be written on the paper given separately.
-You will NOT be allowed to write during the 1st 15 minutes.
-This time is to be spent in studying the ques. paper.
-The time provided at provided at the head of this paper is the time allowed for writing the answers.
-All working, including rough work, must be clearly shown ; it should be done immediately before/after the rest of the answers.

PLEASE ALSO NOTE that parts of the identical ques. MUST BE DONE continuously so as to facilitate valuation
- Attempt all ques. from part A and 2 ques. form part B.
The intended marks for ques. or parts of ques. are provided in brackets [ ].


part - A

Q one (a) The subsequent ques. has to be answered using 2 columns. Rewrite Column one in the order provided. Column two contains descriptive phrases for items provided in Column 1. Match the phrases to suit the items in Column one by selecting phrases from Column 2. Ignore those that remain.


Column one Column two
(i) Final Account - have associated for profit - making.
(ii) two : one Ratio - 'use me in case of need'.
(iii) Accounting of Entrance Fees - compulsory for sole traders.
(iv) Co - owners of business - absorbed in owner's account.
(v) Net Profit - checks current compilation of yearly accounting
- determined by the bye - laws of the organisation
vi) General Reserve solvency test.


Q one (b) every statement provided beneath has 2 blanks, a word/phrase and the rupee-value blank. As your ans for each, indicate the word/phrase or Rs. ................... in the blank spaces given. Serial order of statements (i) to (iv) should not be disturbed.


(i) The charity institute's 'Care for us Fund' received and wisely invested Rupees 6 lakhs @ 15% p.a. to yield Rs ............... for the year. Which therefore reflects only in the ................. of the final accounts compiled.


(ii) The Furniture A/c indicates a closing balance of Rs. 60.000. The fact that one-third of this value was bought and used only in the last quarter, the annual wear and tear computed @ 15% and termed .................. will be Rs. ............. for the provided accounting year.


(iii) As reported, the Current Ratio of M/s Luck and Co. is 1.5 : one and the Current Liabilities Rs. 90.000, then it is obvious that the total of ................. is Rs ................ .


(iv) If Rs. 12.000 of debtors was written off in the Previous Year and 20% of it is recovered in the Current Year, then Rs ............... will be credited in the ................... A/C.


Q one (c) write explanatory notes on :

Earning:   Approval pending.