Punjab Technical University 2008 B.C.A Computer Application Basic accounting - Question Paper

B.C.A. (SEM- 1st)
BASIC ACCOUNTING
Time- 03 hours
Maximum Marks- 60

Section- A
Q1
a) Double entry system.
b) Ledger.
c) Book keeping vs. accounting.
d) Net worth.
e) Errors of principle.
f) Realization concept.
g) Going concern concept.
h) Impurest system of petty cash book.
i) Forfeiture of shares.
j) Share premium.

part - B

Q2) explain in detail nature, scope and limitations of management accounting.

Q3) discuss the different sources of finance a long with different characteristics of
the sources discussed.

Q4) explain the significance of computers in the preparation of final accounts. Also define that how computerized accounting is various from manual accounting elaborate the main limitations of computerized accounting?

Q5) From the subsequent balances prepare profit and loss account for the year ending 31't December 2007 and a balance sheet as on that date.

Rs. Rs.
Trading Account 15,680 Salary 2120
Cash 1200 Rent Received 2850
Drawings 1800 Bills payable 4300
Debtors 15800 Bank overdraft 9600
Creditors 5400 Trade expenses 1350
Machinery 20000 Buildings 25000
Furniture 7500 Motor Van 10000
Loan to Mr.Sharma 4000 Dividend Received 2380
Bank Balance 8500 Discount Allowed 1420
Traveling Expenses 700 interest on overdraft 960
Depreciation 4200 Closing stock 12300
Capital 110000 Life Insurance Plan 2,000

Q6)
(a) Distinguish ranging from cash discount and trade discount.

(b) What is the meaning and need of subsidiary books?

Q7)XYZ Issued 40000 shares of Rs.10 every to the public and received the amount as on 1-7-1998 with application Rs.2, Rs.3 on allotment on 1-11- 1998, Rs.3 on 1st call on 1-4-1999 and the balance amount on final call on 1-7- 1999, Ramesh who has 500 shares paid the amount of 1st and final call along with allotment and Mohan who has 100s hares paid the amount of final call with
first call. According to articles of association interest on call in advances is to be paid@ 6%.The interest was paid on 1-7-1999 provide journal entries in the books of the com patty.

Earning:   Approval pending.