Bangalore University 2006 B.B.M Fundamentals of Accounting - Question Paper

39,100 39,100

5. Journalise the subsequent transactions.

2006

Jan first Rajini started business with a capital of Rs. 50,000
second She purchased furniture for Rs. 5,000
third She bought goods on credit from Vinod for Rs. 8,000
14th She sold goods to Suresh for Rs. 5,000
15th She received cash from Suresh Rs. 3,000
18th She purchased goods for cash Rs. 12,000
25th She sold goods for cash Rs. 8,000
28th She paid rent Rs. 1,200
31st She apid Vinod Rs. 3,000 on account.

6. From the following, prepare a Bank Reconciliation Statement showing the balance as per cash book on 31st December 2005.

a) Out of cheque of Rs. 9,200 paid on December 29th Rs. 4,200 appear to have been credited in the pass book only on second January 2006.

b) The cheque issued in December 2005 amounting in all to Rs. 15,000 of which Rs. 6,000 have been cashed in the identical month.

c) The Banker wrongly credited a cheque for Rs. 1,200.

d) Rs. 900 interest on overdraft and Rs. 50 for bank charges debited in the pass book on 31st December.

e) Pass book indicates a credit of Rs. 1,200 as interest on securities collected by the banker.

f) The Bank pass book showed an overdraft of Rs. 19,200.

7. Enter the subsequent transactions in the simple petty cash book.

2006

Jan first Received a cheque for Rs. 100 to open the book.
fifth Bought postage stamps Rs. 5.
eighth Paid for stationary Rs. 8.
tenth Sent a Telegram Rs. 7.
twelfth Paid for cartage Rs. 5
14th Paid tiffin charges for customers Rs. 13.
20th Balance due to Bindu paid Rs. 6.
25th Paid auto charges of the salesman Rs. 7
28th Paid Coolie Rs. 9
29th Purchased paper clips Rs. 4
31st Paid electric charges Rs. 8

8. You are needed to rectify these errors which were located before the preparation of the final accounts.

a) An amount of Rs. 37,500 posted to the cash book as against a cash sales of Rs. 3,75,000.

b) An amount of Rs. 5,000 spent towards wages for installation of a machine posted to wages account.

c) Rs. 10,000 received from Shankar posted Shyam's account.

d) Purchased goods from Arvind worth Rs. 10,000 has been completely omitted.

Earning:   Approval pending.