BACHELOR'S DEGREE PROGRAMME H-1 Term-End Examination CD June, 2015 i1"-- f=) ELECTIVE COURSE : COMMERCE ECO-2 : ACCOUNTANCY-I

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1 No. of Printed Pages : 11 ECO-2 BACHELOR'S DEGREE PROGRAMME H-1 Term-End Examination CD June, 2015 i1"-- f=) ELECTIVE COURSE : COMMERCE ECO-2 : ACCOUNTANCY-I Time : 2 Hours Maximum Marks : 50 Weightage : 70% Note : Attempt any four questions, including Question No. 1 which is compulsory. 1. Answer any two of the following : 7+7 (a) (b) (c) (d) Name the parties interested in Accounting information and state their basic interests therein. Explain with example the 'Cost Concept' and 'Dual Aspect Concept'. "Single entry book-keeping is an incomplete system". Do you agree? Explain. Explain the method of valuation of unsold stock for calculating fair profit on consignment. ECO-2 1 P.T.O.

2 2. (a) What is Bank Reconciliation Statement? 6+6 What are its advantages? (b) On 31St Dec. 2012, the Cash Book of Mr. Karamat Ali showed a debit balance of 5,850. Prepare the Bank Reconciliation statement to work out the passbook balance from the following information : (i) (ii) Cheques amounting to 1,350 issued in mid December have not been presented for payment till A cheque of 900 was deposited but it was collected in the first week of January. (iii) Dividend collected by bank, 390 has not been shown in Cash book. (iv) (v) 225 deposited by a customer direct in the bank account of the account holder. Bank charges, 45 appeared only in the pass book. (vi) A cheque of 120 entered in Cash Book but it was not sent to bank for collection. ECO-2 2

3 3. Prepare Final Accounts from the following Trial Balance which belong to financial year ending on 31st December Name of Account Debit Balance (Z) Credit Balance (Z) Stock ( ) 60,000 - Land and Building 6,00,000 - Furniture 1,12,500 - Machinery 3,00,000 - Capital - 6,00,000 Sales - 11,25,000 Wages 52,500 - Purchases 5,73,750 - Purchases Return - 16,500 Sales Return 26,250 - Carriage Inward 11,250 - Salaries 36,000 - Rent 26,250 - Interest paid on bank loan 11,250 - Discount 3,750 - Bad debt 3,750 - Interest received - 7,125 Cash in hand 16,125 - Cash at Bank 41,250 - Investments 56,250 - Debtors 1,14,000 - Goodwill 37,500 - Creditors - 1,50,000 B/R and B/P 15,000 11,250 Bank Loan - 1,87,500 20,97,375 20,97,375 ECO-2 3 P.T.O.

4 Other Information : (a) Stock as on , 13,500 (b) Make a provision for doubtful 5% (c) Accrued interest on investment, 1,200 (d) Depreciate Machinery by 10% and Furniture by 10% 4. Ram and Raheem entered into a contract to 12 construct a building for 10,00,000. Ram was entrusted to maintain joint venture accounts and also to look after the joint venture business. He was entitled to a commission of 5% on contract price, in addition to a profit in a ratio of 4 : 3. Raheem paid his share of contribution of 4,00,000. Ram purchased construction material for 7,25,000 and paid other expenses, 25,000. Ram also contributed material from his own stock worth 40,000. Stock remaining unconsumed was taken over by Raheem for 50,000. Record the above transactions in the Journal of Ram and show the Joint Venture Account and Raheem's personal account as the working notes. 5. Comment on any two of the following 6+6 statements : (a) (b) (c) Income and Expenditure Account is different from Profit and Loss Account. Trial Balance is not the conclusive proof a accuracy of books. Accounting equation is based on Dual concept of Book-keeping. ECO-2 4

5 6. (a) From the following particulars taken from 6+6 the Cash Book of a club prepare a Receipts and Payments Account for the year ending Opening balance Z Cash 10,000 Bank 50,000 Subscriptions 3,30,000 Donations Received 26,000 Investments purchased 1,00,000 Rent paid 40,000 General Expenses 21,000 Postage and stationery 7,000 Sundry Expenses 3,000 Closing cash in hand 2,000 (b) Explain the factors that are taken into account while determining the amount of depreciation, and show how its total amount is worked out. ECO-2 5 P.T.O.

6 31fETWT4 31W : 50 fff : 70% : r VT?" TraY dth ffi9d11 1 W7frfr7 e 444- q arf-4-4ref`i 1. F-1 4--Ircingd 14-4 t drit fffft17 : 7+7 (a) -4UF -449 i'cf icifitrutrti t Ailcb-r# -4-39% -1-L-&4real (b) ovici 4cbc4-1-11'2TT` rglikftzr Trr (self I (c) " ti".terratrcr 2,1-914 Hcrt? -> 31-vi -srurr-d (d) 4u Trt lul-ift 3-1-9Ṉt t.1;1 Farq cf.>1 oe.msqi ECO-2 6

7 2. (a) 4.ct, fa-4-{7 T-trzf Ttit qe-li 6+6? (b) 31 f 7,2012a,l chtliicf 5,850 kl5fit 1u tl r-p--tior(ad TFa-r4 311TR -wr qlq d -lchl 44) tii-otrifq-qm AziR : (i) -k4q-t -qui 4 firffizm rct> 1,350 "lg.) ich 4ch 4 l-d19 t rm -9-w le rch -FRI (ii) 900 1,41, fq-4 wtze* -q-m rail Trzir 'pm -Tff ( -fta) 4.1.) icbir TP:fr z 390 Wf Wass fqurzrr (iv) ) t 31-0 tgi 1:1T W(1. rqt411 (v) 4ct t1a (bank charges) 45-4" kipf tqf 4iticich -4t -kurl#ti (vi) z 120 t 1.) tr* Trf4f-tz 74 -q7e 4a, TFI ECO-2 7 P.T.O.

8 3. Fri fig dm4z, 31 fq#-4t 2012 :17d 12 -q-afatzi Tf-44-d t 3TRATT m-14 &fug -1-r ra7 : srit tgi WE WIT (lie ter Z tr7z iter Z -. ici.) ( ) 60,000 li:r,ta7 6,00,000 - Z 1,12,500 - toi -it 3,00,000 listil - 6,00,000 fdw7-11,25,000 IRO 52,500 - Th7:1 5,73,750 - Wzr c09til - 16,500 rcio,41 c1-iii 26,250-3'{ TIM 1.9T 11,250 - ddi 36,000 - fw711 26,250 - U WTI IR c.emsf 11,250 - WA 3,750-1,4cf ""ut 3,750 - TM ceim - 7,125 tams trer 16,125 - cil tti 41,250 - f--d-71 56,250 - icit 1,14,000 - tarrt (goodwill) 37, ( - 1,50,000 3ITET cm cltt4 kr rf 15,000 11,250 'ob '131 1,87,500 20,97,375 20,97,375 ECO-2 8

9 3r4:1 : (a) -e.ict-) ( ) Z 13,5001 (b) 317tai (1 5% * i;11-49t9 (c) f9-47i -7r1r--47 3TFT Z 1,2001 (d) 'TRW TF9N7 TR 10% 7 74 cvvii*1 4. Trrr 24-r z10,00,coo -) R-T itqi 12 fīnfur chk4 t-q a d I TR TIV*1 dq111-1 Tf441 chi T cla4 * TrziT I ach1 I4eit17 5% W14179' *T 3Till*T4 t 'ff 2TT 4 : 3* ff131 -ea 1 ti fp74 Z 4,00,000 *T 3171-q1 Rill Ti z 7,25, d9' 771:1-1t *-4 'ffett Z 25,000 * TraF rcnif T t-e.tch Z 40,000 * 7:1717t Z 50,000 *1W-41 pit Hi i k a-ctwr t A f-<upr, TN-4a Midi T1 cqrch-picf tgidi AzIR Thr--4R I ECO-2 9 P.T.O.

10 ci 4 A l chl : 6+6 (a) 1T-oiq -ura-r (i l A f9.1-1(-iit (b) -qtzff di I (c) r.& ct,or cb1 [f - 4chc'' mrft-a- t 6. (a) kc 1I art.4-*7 rc-r F-14-1 (.1 (Ad 6+6 fqq T11,1171 iq c Ir (44-9-rr7T 91-Tra-ra- ( ch ITRITVW *Er Z 10,000 gra, 50,000 ti -qt (subscriptions) 3,30,000 i Ti 26,000 f9"471i WTI' 1,00,000 f-*--tr wr 91Tr-dF 40,000 o-ii-61 oq 21,000 seen (74144 a7: -Tr9-# 7,000 f-q-fan «44{ 3Tf Tr -trisf tr-*-- 3,000 2,000 ECO-2 10

11 (b) ql f9"etitut TilT44 ch-1 nil WM. t?.411(9441 7qfw 74-T1 Tc-r flpi? ECO-2 11

BACHELOR'S DEGREE PROGRAMME Term-End Examination December, 2014 ELECTIVE COURSE : COMMERCE ECO-2 : ACCOUNTANCY-I

No. of Printed Pages : 8 ECO-2 BACHELOR'S DEGREE PROGRAMME Term-End Examination December, 2014 ELECTIVE COURSE : COMMERCE ECO-2 : ACCOUNTANCY-I Time : 2 Hours Maximum Marks : 50 Weightage : 70% Note :