Madras University (UnOM) 2009 B.C.A Computer Application Financial Accounting - Question Paper
November 2009-Financial Accounting-Madras University-BCA
NOVEMBER 2009 51304/SBZ3A
Time: Three hours Maximum : 75 marks
SECTION A (10 x 2 = 20 marks)
Answer any TEN questions.
All questions carry equal marks.
Each answer should not exceed 30 words.
1. Explain the functions of accounting.
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2. Explain the accounting period concept.
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3. Define fixed assets and fair market value.
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4. Explain average due date, ffprffif) Qpiraj Cectu efflerrffi@.
5. Explain stock and debtors system.
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6. Explain branch adjustment account.
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7. Explain the nature of Hire purchase account.
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8. Pass journal entries in the books of Hire vendor when goods sold on hire purchase.
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9. Define partnership deed.
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10. Distinguish between fixed capital and fluctuating capital.
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11. Pass journal entries for raising goods will in the books.
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12. Pass journal entries for writing-off the good will.
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j SECTION B (5x5 = 25 marks)
Answer any FIVE questions.
All questions carry equal marks.
Each answer should not exceed 200 words.
13. What are the features of double entry system?
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14. Prepare trial balance as on 31.3.2009 for the following:
|
Rs. | |
|
Cash a/c |
6,190 |
|
Purchase a/c |
1,450 |
|
Sales a/c |
2,300 |
|
Capital a/c |
6,000 |
|
Stationary a/c |
130 |
|
Wages a/c |
350 |
|
E.B. charges a/c |
70 |
|
Postal a/c |
80 |
|
Advertisement |
30 |
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15. Explain any two methods of depreciation. (BiiiiDirOTOT srn-ojgi shst (LpanjpffiSDOT eSlsrr@a.
16. Distinguish between departmental and branch accounts.
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17. Explain the special features of hire-purchase agreement.
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18. A and B are partners sharing profits and losses in the ratio of 3 : 2. C is coming as a new partner who pays Rs. 10,000 as premium for good will. The profit sharing ratio among A, B and C is equal. Pass necessary journal entries assuming that premium money is retained in the business.
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19. Pass journal entries for the following:
A, B and C are partners sharing profits and losses in the ratio of 4 : 3 : 2. B retires. The value of goodwill in Rs. 45,000. A and C decide to share profits and losses in the ratio of 3 : 2.
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5 51304/SBZ3A
SECTION C (3x10 = 30 marks)
Answer any THREE questions.
All questions carry equal marks.
Each answer should not exceed 500 words.
Pass rectification entries for the following
transactions :
(a) A builders bill for Rs. 4,600 for the erection of a small shed was debited to repair a/c
(b) A cheque for Rs. 750 received from Desai was credited to the aecount of Ram.
(c) Goods sold to Z for Rs. 475 have been wrongly entered in the sales book as Rs. 745.
(d) Goods to the value of Rs. 700 returned by X were included in closing stock, but no* entry was made in the books.
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21. Explain the advantages of departmental accounting.
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22. A sold goods to B as detailed below :
Date of Invoice Value of goods sold (Rs.)
5.5.03 3,000
12.5.03 1,500
19.5.03 3,500
26.5.03 2,250
1.6.03 2,000
3.6.03 1,000
The payments were agreed to be made by bills payable 90 days form the respective dates of the invoice. But B wanted to average for payment of all the bills to be made on a single date. Calculate the date on which such a payment could be made.
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5.5.03 3,000
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19.5.03 3,500
26.5.03 2.250
1.6.03 2,000
3.6.03 1,000
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On 1.1.2008 Ray & Co. purchased a motor car form X. Co. on hire purchase system. At the time of agreement a sum of Rs. 24,000 was paid out of the cash down price of the car and the balance was payable in 3 equal annual instalments together with interest @ 5% p.a. The amount of last instalment including interest was Rs. 33,600. Depreciation was to be provided at 10% p.a. on the reducing balances. Prepare X Co. account only.
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24. A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. Their balance sheet as on 31.3.2009 is as under: liabilities Rs. Assets Rs.
Capital A 90,000 Fixed assets 1,60,000
B 60,00b Current assets 75,000
Current disabilities 85,000
2,35,000 2,35,000
On 1.4.2009 C is admitted to the partnership. C purchases 33.33% of As interest for Rs. 35,000.
Prepare partners capital accounts and good will a/c
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9 51304/SBZ3A
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Attachment: |
| Earning: Approval pending. |
