Madras University (UnOM) 2010 B.B.A Business Administration Financial Accounting - Question Paper

(d)out of the chque issued for Rs4500 cheques of Rs.3800 only were presented for
payment.
(e)A cheque of Rs 600 deposited has been dishonoured prior to 31.03.2003, but no entry was
made in the cash book.

16.Messrs.Sarojini Balu&co.,purchased a machine for Rs.22000 on january 1, 2002.The estimated
life of the machinery is 10 years , after which its brek-up value will be Rs.2000.
Depreciation has to be charged at 21% on the dimnishing balance.There was an additional
to original plant on january one 2004 to the value of Rs4000 you are needed to prepare
machinery A/C for the 1st 3 years.
17.Mohan a retail merchant commenced business with a capital of RS.12000 On 1-01-2000.
Subsequently on 1-05-2000 he invested further capital of Rs 5000.31-12-1994 his assets and
liabilities were as follows
RS
Cash at bank 3000
Debtors 4000
Stock 16000
Furniture 2000
Creditors 5000
compute the profit or loss made during the year 2000.
18.write a short note on:
(a)Life membership fees,
(b)Dontions.
19.Opening stock Rs,25000
Closing stock Rs,45000
Purchase Rs,150000
Gross profit is 20% on sales, compute sales.

Part C -(10X3=30 marks)
ans any three ques.
20.Journalise the subsequent transaction of M/S Radha & Sons

2000 Rs
Jan1 Business started with Rs.250000 150000
and cash deosited with bank

three Purchased machinery credit from 50000
Rangan
12 goods sold to yasodha to 22500

15 goods sold for cash 25000
21 cash paid to ramola 20000
31 paid salaries 15000
31 paid rent 2500

21.Mr.Madhan while balancing his books obtains that he is out by Rs,280.Being needed to prepare
the finance account he places the difference to a newly opened suspence account which he
carries forward to the next year. In the next year the subsequent mistakes were discovered.

(a)goods bought from them Mr.Mani amunting to Rs 50 had been posted to the credit of his
account as Rs.550
(b)A dishonoured bills receivable for Rs.2000 returned by the banks account a bills debited
to bills receivable account.
(c)Discount amounting to Rs.20 from the creditor has been in his account but not posted
to discount account.

prepare journal entries

22.A company whose accounting year is the calender year, purchased on 1-1-93 a machine for Rs.4000. It purchased further machinery on 1-09-93 for Rs.20000, on 1-07-1994 for Rs 10000.show how the machinery account would appear in the books of the company for all three years ender diminishing balance method. Depreciation to be given at 10% pa.

23.The subsequent are the balance in the ledger of Mr.Sundar for the year ended 31-03-2005

Opening stock 20000
Raw materials 3000
Work in progress 10800
Finished goods 250000
Sales 240000
Wages 42000
Factory expenses 40000
Office expenses 30000
Closing stock:
Raw materials 20000
Work in progress 4000
Finished goods 8000

Prepare manufacturing and trading account for the year ended 31-03-2005.

Earning:   Approval pending.