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QP CODE: 22103476: Reg No: Name

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28 views4 pages

QP CODE: 22103476: Reg No: Name

Uploaded by

salmanishaqueee
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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QP CODE: 22103476 22103476 Reg No : .....................

Name : .....................

UNDER GRADUATE (CBCS) REGULAR / REAPPEARANCE EXAMINATIONS,


NOVEMBER 2022
Fifth Semester
(Offered by the Board of Studies in Commerce)
OPEN COURSE - CO5OPT03 - FUNDAMENTALS OF ACCOUNTING
2017 Admission Onwards
9B099799
Time: 3 Hours Max. Marks : 80
Part A
Answer any ten questions.
Each question carries 2 marks.

1. What do you mean by drawings?

2. What is narration?

3. Narrate the rules of debit and credit as per conventional approach.

4. What are intangible assets? Give Example.

5. Briefly explain discount allowed and its effect in business.

6. Explain briefly different types of ledger.

7. Explain debit note and credit note.

8. Why the totals of two sides of a Trial Balance are equal?

9. What is a Balance Sheet? What is the need of preparing it?

10. What do you mean by direct expense?

11. Prepare a trading account from the following items:


Purchases Rs. 57400
Opening stock Rs. 12600
Sales Rs. 105000
Carriage inwards Rs. 2100
Wages Rs. 2800
Closing stock Rs. 16800

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12. What do you mean by grouping and marshalling of assets and liabilities?
(10×2=20)
Part B
Answer any six questions.
Each question carries 5 marks.

13. Why Accounting is called the language of the Business world? Explain

14. Distinguish between Book Keeping and Accounting

15. What are the advantages of double entry system of accounting?

16. Pass the opening entry on the basis of the following information obtained from the
business of Mr. Shyam

Rs.
Cash in hand 2000
Sundry debtors 6000
Stock of Goods 4000
Machinery 5000
Land and Buildings 10000
Sundry Creditors 10000

17. Pass necessary Journal Entries


Date Transactions Amount (Rs.)
2019
Jan 1 Started business with 50,000
2 Purchased furniture 15.000
3 Purchased goods for cash 9,000
5 Open bank account 8,000
7 Purchased goods for cash 7,000
8 Sold goods for cash 12,000
12 Withdrew cash for personal purpose 3,000
16. Purchased goods from Roy 9,000
18. Sold goods to James 15,000
20. Cash received from James 12,000
21. Cash paid to Roy 6,000
24. Paid salary 2,000

18. Explain the features and objectives of journal?

19. Distinguish between journal and Ledger.

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20. From the following transactions, prepare a Trial Balance as on 31st March 2019
Date Particulars Amount(Rs)
2019 March
Pramod started business with 50000
1
March 4 Purchased goods from Baby 4500
March 8 Bought Furniture 8000
March 9 Sold Goods to Aravind 3000
March 10 Received Commission 750

21. Mention the differences between a Balance sheet and a Trial balance.
(6×5=30)
Part C
Answer any two questions.
Each question carries 15 marks.

22. Explain in detail the various Accounting Concepts and Conventions

23. Explain the various subsidiary books maintained by a firm. Also Explain the advantages of
Subdivion of journal.

24. Enter the following transactions in a petty cash book maintained under imprest system
2019
April
1 Received from chief cashier
Rs.200
3 Conveyance charges paid to
office staff Rs.14
5 Bus fare paid to peon Rs.8
8 Postage stamps and inlands
purchased Rs.22
12 Paid for stationery Rs.18
14 Locks purchased Rs.20
15 Paid cartage Rs.15
18 Office cleaning Rs.25
20 Ink and paper Rs.20
23 Refreshment charges Rs.12
25 Printing charges Rs.13

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25. From the following trial balance, prepare financial statements for the first quarter of the
financial year 2018-19

Particulars Debit (Rs.) Credit (Rs.)


Capital Account 114000
Drawings 10000
Stock 46000
Purchases and Purchase returns 150200 600
Cash in hand 3400
Bank balance 22660
Freehold premises 38600
Trade expenses 840
Printing, stationery and advertising 1640
Professional charges 280
Commission 3300
Investments 4000
Interest on deposits 200
Sundry debtors and creditors 36000 29000
Wages 25000
Salaries 14000
Income tax 1600
Discount allowed and received 6300 4600
Sales and Sales returns 550 208950
Bills recivable and Bills payable 3200 10000
Office furniture 3050
Insurance 4000
Bad debts recovered 670
371320 371320
Stock on closing date is valued at Rs. 52000
(2×15=30)

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