Bharathiar University 2006 B.Com University - Question Paper

12. (a) elaborate the objectives of departmental accounts?

(Or)

(b) A cloth merchant casually sells goods to his approved customers on ‘sales or return ‘basis treating all such transactions as true sales at the time of dispatch.
Just before the end of the financial year a few cloth costing Rs 2,000 as sent to
Manohar at 20% profit on sale and was passed through on 31.12.2004 if consent of manomohar is pending?

13. (a) elaborate the limitations of single entry system?

(or)

(b) Raji keeps his books on single entry basis. Prepare a statement of affairs as on 31.10.2002, and a statement of profit or loss for the period ended 31.10.2202

Particulars 1.11.2002 31.10.2002
Rs. Rs.

Bank balance 500 (cr) 350(Dr)
Cash on hand 10 50
Drs 4500 3600
Stock 2700 2900
Plant & furniture 5000 5000

Raji had withdrawn Rs2, 000 during the year, and his addition capital rs4200 on 1.11.2002. A provision on debtors.

14 (a) X and Y share profits and losses in the ratio of 5:3.Z is admitted for 3/10th share of profits half of which was gifted by X and the remaining share was taken by z equally from Xand Y . The goodwill of firms valued at Rs.21600. Z brings in the needed amount
Of goodwill. The profit for the 1st year of new partnership amount is Rs.24000. pass the necessary journal entries to adjust goodwill and to distribute profits.
(or)





(b) A, BandC Started business on 1.1.2002 with capitals of Rs.20,000. Rs17, 500, Rs.14, 500 respectively. The profits for the year 2002 amounted to Rs. 40,000 and the partner’s drawings had been A-Rs.10, 000; B-Rs. 7500andC-Rs.4, 5000 A, BandC was 3:2:1. compute the interest on capital @ 5%P.a.

(or)

Earning:   Approval pending.