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

e) Sale to Shankar has been wrongly posted to purchase book for goods worth Rs. 28,000.

9. From the subsequent balances, prepare a Trial Balance.

Particulars Rs. Particulars Rs.

Drawings 2,000 Sales 68,000
General expenses 4,740 Purchases 40,000
Buildings 20,000 Bank Overdraft 10,000
Stock 16,540 Capital ?
Wages 8,515
Debtors 6,280
Creditors 2,500
Bad Debts 550
Loan on Ravi 7,880

part - C

10. From the subsequent Trial Balance of Chandrashekar, prepare Final Accounts for the year 31st March 2006.

Trial Balance as on 31st March 2006.
Debit Rs. Credit Rs.

Drawings 4,500 Capital 24,000
Purchases 20,000 Sales 30,500
Returns Inwards 1,500 Discounts 1,900
Stock (1-4-2005) 8,000 Sundry Creditors 10,000
Salaries 4,200 Bills Payable 2,500
Wages 1,200
Rent 350
Bad Debts 400
Discounts 700
Sundry Debtors 14,000
Cash in hand 260
Cash at Bank 5,940
Insurance 400
Trade expenses 300
Printing 150
Furniture 2,000
Machinery 5,000

68,900 68,900

Adjustments :
a) Closing stock Rs. 7000
b) Insurance prepaid rs. 60
c) Outstanding liabilities : Salaries Rs. 200, wages Rs. 200
d) Make provision for doubtful debts at 5% on debtors
e) compute interest on capital at 5% p.a.

Earning:   Approval pending.