Bharathiar University 2007 B.Com University - Question Paper

ADVANCED ACCOUNTING
SECTION-A
select the accurate answer:
1. Depreciation is given on _________.
(a). current assets
(b). fixed assets
(c).fictitious assets
2. If the interest is to be charged on the avg. assets of the department, then by
avg. asset we mean _________.
(A). the assets at the end of the year
(b). the assets in the middle of the year
(c). add ½ of the increase in the assets over the year to the assets in the beginning of
The year
3. The figure for credit sales is calculated from _________.
(a). total creditors account
(b). total debtors account
(c). closing balance sheet
4. X and Y are sharing profits and losses in the ratio of 3:2. Z is admitted with 1/5th share in profits of the firm which he gets from Y. Now the new profit sharing ratio ranging from X,Y and Z will be ___________.
(a). 12:8:5
(b). 8:12:5
(c). 2:2:1
5. Unclaimed dividend is shown in the balance sheet under the items ________.
(a). current liabilities
(b). unsecured loan
(c). provisions

Fill in the blanks:
6. General ledger adjustment accounts are opened in Bought ledger and ___________.
7. Under branch trading and profit and loss account system, remittances are taken to the _____________ side of the branch account.
8. The bills receivable as endorsed having been dishonoured and are debited to ________.
9. Accumulated losses are transferred to the capital accounts of the partners at the time of admission in their __________ ratio.
10. Super profit is the excess of avg. profits over _________ profit.

State actual or False:
11. The amount of depreciation is credited to depreciation fund account in case by annuity method.
12. Interest is computed on the cash price at the provided rate.
13. There is no system like single entry in account.
14. It is often desired to revalue the asset and liabilities at time of admission of a partner.
15. A reserve which is represented by investments outside the business is known as reserve fund.

Match the following:
16. Depreciation (a) profit & loss a/c
17. Branch account (b) partnership Act 1932
18. Single Entry system (c) Debtors system
19. Partnership (d) Depletion method
20. Company (e) statement of affairs method


part B-(5*6=30 marks)
ans ALL ques..

21. (a) elaborate the factors affecting the amount of depreciation?
Or
(b) discuss the method preparing self balancing ledger and its significance.

Earning:   Approval pending.