Vinayaka Missions University 2012 B.Com Financial accounting[] 1040103 - Question Paper

COURSE CODE - 1040103
UG DEGREE exam - FEB 2012
BA (COR.SEC) / BCOM / BCOM (ACC.FIN / CA
/ INT.BUS / MAR.MGT)
FINANCIAL ACCOUNTING
(For Candidate Admitted from Calendar 2007 Onwards)
Time: three Hours Max.Marks:75
PART - A
ans All the Questions: 10 X two = 20
1. describe self-balancing ledger.
2. What is meant by Accommodation Bill?
3. What is accounting.
4. describe financial accounts?
5. describe Partnership.
6. describe branch accounts.
7. What is Liabilities?
8. Who is an Insolvent Partner?
9. describe ledger accounts.
10. describe recording.
PART - B
ans All the Questions: five X five = 25
11. a. What do you understand by "self balancing ledger" state the advantages of this system.
(Or)
b. What is meant by annuity method?
12. a. Prepare a sales ledger Adjustment Account from the subsequent details: 2007 Jan-1 Opening balance of Debtors Rs 60,000
Total sales for the month Rs 1, 80,000
Sales returns Rs 1,000
Cash received from Debtors Rs 30,000
B/R Received Rs 3,000
(Or)
b. elaborate Accounting Conventions? discuss briefly.
13. a. elaborate the advantages of double entry system?
(Or)
b. Prepare Trial Balance from the subsequent
Rs. Rs.
Capital 9000 Rent outstanding 1000
Plant & Machinery 12,000 Opening stock 2000
Purchases 8000 Sales return 4000
Sales 12,000 Investments 14,000
Sundry Creditors 8000 Debtors 12,000
Balance loan 22,000
14. a. Write a note on capital and revenue.
(Or)
b. discuss the basic factors affecting the Amount of Depreciation.
15. a. What is Trial Balance? explain the main objects.
(Or)
b. elaborate accounting conventions?
PART - C
ans any 2 Questions: two X 15 = 30
16. A and B partner sharing profits in the ratio 3:2 c is admitted and
new profits sharing ratio 2:2:1 c brings in cash Rs.8000 for capital
and Rs.2000 for Goodwill the balance sheet of A and B as follows,
Capital Liabilities Assets
A 8000 Good will 2500
B 8000 Assets 17500
Reserve 4000
20,000 20, 0000
Partner decided that goodwill account should appear in the new
firms; books at Rs.6000 provide Journal Entries and prepare Balance
Sheet of the new firm.
17. What is Book Keeping? Distinguish ranging from Accounting and Book
Keeping. Distinguish ranging from Single Entry and Double Entry
System.
18. discuss the kinds of partnership.
19. Write a short note on
a. Trial balance
b. Balance sheet.
20. Briefly define the purpose and method of preparation of every
subsidiary book.

Earning:   Approval pending.