Hemchandracharya North Gujarat University 2006 B.Sc Computer Science 104 : Financial Accounting & Management - Question Paper

AA-3404 Seat No. _________

First Year M. Sc. (CA & IT) exam
March / April – 2006
Financial Accounting & Management
Time : three hours] [Total Marks :70

Instructions : (1) Figures to the right indicate marks.
(2) Show necessary working clearly.

1 Write short notes : (any two) 7

(a) Types of transactions.
(b) Types of accounts and rules of Debit and
Credit.
(c) Control account for debtors and creditors
(d) Revenue Expenditure and Captial
Expenditure.

2 M/s Jafri Bros. furnishes the trial balance as on 12 12
31-12-05. Prepare trading and profit and loss
account for the year ended 31-12-05 and Balance
Sheet as on 31-12-05 :
Particulars Dr.(Rs) Dr.(Rs)
Capital
Sales and Purchases
Opening Stock
Goods Returns
Salary
Stationery Exp.
Postages and Telegram
Travelling Expenses
Administrative Expenses
Plant and Machinery
Building
Furniture and Fitting
Debtors and Crediotrs
10% Punjab National Bank
Loan (on 1-7-2005)
Cash and Bank Balance
Interest on Punjab National Bank Loan -
4,00,000
3,00,000
20,000
1,00,000
20,000
30,000
50,000
70,000
1,60,000
2,00,000
1,00,000
2,00,000
-

60,000

10,000
4,00,000
8,00,000
-
20,000
-
-
-
-
-
-
-
-
1,00,000
4,00,000
17,00,000 17,00,000


Additional Infromation :

(1) Closing stock as on 31-12-2005 was Rs.3,20,000.
(2) Outstanding Expenses at the end of 31-12-2005
Salary………………………………..Rs.20,000
Stationary & Printing………………..Rs.40,000.
(3) Provide depreciation on :
(i) Building @ 5% p.a.
(ii) Plant & Machinery @ 10% per annum.
(iii) Furniture @ 15% per annum.
(4) Provide bad debt reserve @ 5% on debtors.
(5) Provide 10% interest on capital.

OR

2 Answer the subsequent : (any 3 )

(a) State whether the subsequent statements are actual or
fales

(i) Transactions and events are the identical
thing.

(ii) Purchase of machinery on credit is
recorded in purchase book.

(iii) Every transactions and event affect the
balance sheet.

(iv) Tallied trial balance is a proof of
correct accounting records.

(b) Difference ranging from cash transactions and non-
cash transactions.

(c) Accrued expenses and Accured income.

(d) Current Assets and Current Liabilities.

3 (a) What is financial management ? How it 3
is useful ? Write in very brief.

(b) The subsequent are the financial statements 7

Earning:   Approval pending.