Veer Narmad South Gujarat University 2011-1st Year B.C.A Computer Application SB-1421 Computerised Financial Accounting ( Sem - 2 ) - Question Paper

SB-1421

First Year B. C. A. (Sem. II) Examination March / April - 2011 Computerised Financial Accounting

[Total Marks : 100

(2) Figures to the right indicate full marks of question.

1 From the following reasons of difference prepare bank    10

reconciliation statement of Chavda as on 31.1.2011. Bank overdraft as per pass book is Rs. 10,500

(i)    Bank has paid insurance premium of Rs. 1,000 which was not recorded in pass book.

(ii)    Bank charges of Rs. 75 was debited in pass book which has recorded in cash book on receipt side as Rs. 150/-

(iii)    A bill receivable of Rs. 4,500 has discounted with the bank for Rs. 2,920. The same is dishonoured and is debited in the pass book with noting charges Rs. 25.

(iv)    Cheques issued and the date on which the same were debited in pass book are as follows :

Date of	Date of Debit.	Amount
drafting	in Passbook	(Rs.)
22.1.2011	2.2.2011	2,500
25.1.2011	29.1.2011	1,500
28.1.2011	5.2.2011	3,000

(v) Out of cheques deposited of Rs. 12,000 during the month of January cheques of Rs. 5,000 were not recovered.

(vi)    Cheques sent for collection and dates on which the same were credited to passbook are given below :

Date of    Date of credit Amount

deposit    in pass book    (Rs)

6.1.2011    18.1.2011    1,200

29.1.2011    6.2.2011    1,350

13.1.2011    24.1.2011    1,200

23.1.2011    2.2.2011    1,000

(vii)    Rs. 1,200 credit balances of the cash book as on 15.1.2011 has brought down as a debit blance of Rs. 900 on 17.1.2011.

From the following transactions, prepare three columnar cash book of Shree Sankar :

2010

April 1 Opening cash balance Rs. 3,000 Opening bank overdraft Rs. 6,000

April 3 Goods of Rs 3,000 sold for cash at 10% discount

April 5 Goods of Rs. 5,000 purchased at 10% trade discount and 5% cash discount and the amount is paid by cheque.

April 7 Goods of Rs. 8,000 sold to Keshav Keshav paid 60% amount by cash and the remaining amount is paid by cheque.

April 9 Cheque issued by Keshav is deposited in the bank

April 13 Gita issued a cheque of Rs. 7,000 towards payment of his old debt of Rs. 7,025

April 15 Rs. 3,000 for salary and Rs. 2,000 for railway freight are paid by cheques.

April 17 Rs. 3000 deosited in the bank.

April 20 Rs. 2,000 withdrawn from the bank for payment of shop rent

April 21 Rs. 2,500 paid for shop rent.

April 23 Bank debited Rs. 50 for bank commission and Rs. 25 for bank charges in the bank account of Sankar.

April 26 As more funds are required in the business, personal vehicle of Rs. 12,000

is sold for Rs. 9,000 nd Rs. 8,000 brought in the business.

April 28 Rs. 1,000 deposited in the bank account.

OR

2 (a) Enter the following transactions in the analytical    10

petty cash book under the imprest system and balance

the same.

Rs.

2011

Jan. 1 Received an imprest

cheque to begin with...........................400

Jan. 3 Paid for stationery......................................40

Jan. 8 Purchased postage stamps.........................20

Jan. 12 Paid for cartage and coolie........................32

Jan. 18 Purchased papers and pencils.................100

Jan. 20 Paid for taxi hire charges.........................80

Jan. 24 Paid tips to peons.......................................10

Jan. 27 Paid Vinod as advance..............................60

Jan. 30 Sent telegrams.............................................16

Jan 31 Paid for refreshments to customers..........24

(b) Write short note on :    4

Imprest system of petty cash book.

3 (a) Dipak has the following transactions. Draw euqation 10 to show the effect of these transactions on his assets, liabilities and capital.

(i)    Commenced business with cash Rs. 60,000

(ii)    Purchased goods for cash Rs. 20,000 and credit Rs. 10,000

(iii)    Purchased furniture of Rs. 10,000

(iv)    Sold goods of costing Rs. 20,000 for cash Rs. 35,000

(v)    Sold goods costing Rs. 6,000 for Rs. 8,000 on credit to Mihir

(vi)    Returned goods costing of 3,000 to supplier of goods.

(vii)    Received cash from customer Rs. 2,000

(viii)    Paid salary Rs. 1,000

(ix)    Salary due but not paid Rs. 4,000

Explain the following terms :    4

(i)    Liabilities

(ii)    Debtors

OR

From the following information prepare a trial balance 10 as on 31st March, 2010 in the books of Shri Tejanand

	Rs.		Rs.
Building	72,000	Furniture	10,000
Bank Balance	9,000	Cash Balance	1,000
15% obtain loan	30,000	Capital	50,000
Creditors	40,000	Purchases	2,50,000
Opening stock	12,000	Sales	3,22,000
Purchases returns	10,000	Rent	6,000
Sales returns	12,000	Provident fund	1,000
Salaries	16,000	Interest on 15% loan	2,000
Provident fund		Postage and telegram	1,000
contribution	500	Commission	6,000
Carriage inward	1,000	Bad debts	1,500
Insurance premium	1,000	Discount received	2,000
Bills receivable	4,000

(b) Write short notes (any three) Branches of Accountancy (1) Financial A/c (2) Cost AJc.

4 Write short notes : (any three)    12

(i)    Difference between single entry system and double entry

(ii)    Difference between cash transaction and credit transaction

(iii)    Creation of company (in tally)

(iv)    Accounting period concept

(v)    Rules of debit and credit

(a)    Classify into "Assets" or liabilities.

Debtors, Creditors, plant, bills, payable, closing stock, bank overdraft prepaid insurance

(b)    Find out the missing figures from the table given below :

Assets Liabilities Capital

(1)    1,50,000 50,000    ?

(2)    80,000    ?    50,000

(3)    ?    20,000    60,000

(c)    State with reasons whether the following statements are true or false.

(i)    Drawings account is a real account

(ii)    Bank is a real account

(iii)    Household expense account is a nominal account

(iv)    Goodwill account is a personal account.

(d)    Indicate the best answer for each of the following :

(i) When a cheque is returned dishonoured it is

recorded on

(a)    Cash column on the credit side

(b)    Bank column on the credit side

(c)    Cash column on the debit side

(d)    Both cash account and bank account in the ledger.

(ii)    Bank reconciliation statement need to be prepared by

(a)    Customer of the bank

(b)    Bank

(c)    None of the above

(iii)    Purchases book is used to record

(a)    All cash purchase of goods

(b)    All credit purchases

(c)    All credit purchases of goods

(d)    All credit purchases of assets other than goods

(iv)    Accounting equation is based on which principle ?

(a)    Accrual concept

(b)    Business entity concept

(c)    Realization concept

(d)    Dual concept

6 (a) Journalize the following transaction in the books of Mahavir

(i)    Brought goods on credit from A for Rs. 1,000 at 10% trade discount

(ii)    Paid salary Rs. 3,000

(b) Enter the following transaction in sales book.    6

2011

Jan. 1 Sold to M/s Rana Emporium Bangalore : 100 sarees at Rs. 200 per saree trade discount 10%

Jan. 16 Sold to modern emporium Delhi 100 pieces of Jeans at Rs. 500 each 500 pieces of woollen pillow at Rs. 250 each Jan.25 Sold to Khadi Bros, Delhi, 100 pieces of Khadi Kurtas at Rs. 200 per Kurta 150 khadi shirts at Rs. 80 each 100 khadi bags at Rs. 120 each

OR

6 (a) Dinesh started business in 1st April, 2010 with    6

cash Rs. 15,000, furniture Rs. 2,000, stock of goods Rs. 7,500 debtors Rs. 5,000 and creditors Rs. 6,000 Journalise the above transactions and post it to the ledger.

(b) From the following transactions of Ramanand prepare 3 his purchase return book and sales return book.

Premsagar returned one pair of defective dhoti of Rs. 150.

Return goods to Sanjay as being not as per samples. Goods of Rs. 1,600 purchased at 10% trade discount received a credit note from Sanjay

Motisagar returns goods of Rs. 200

Return to Anil goods damaged and sent a debit note along with the goods Rs. 600.

SB-1421]    7    [ 3600 ]

Attachment: veer-narmad-south-gujarat-university-2011-b-c-a-computer-application-28238-1.pdf

Earning:   Approval pending.