I ECO-2. No. of Printed Pages : 8. BACHELOR'S DEGREE PROGRAMME Term-End Examination December, 2015 ELECTIVE COURSE : COMMERCE ECO-2 : ACCOUNTANCY-I

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1 No. of Printed Pages : 8 I ECO-2 co co BACHELOR'S DEGREE PROGRAMME Term-End Examination December, 2015 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) Distinguish between Single Entry System and Double Entry System of Accounting. What is the difference between Receipts and Payment Account and Income and Expenditure Account? Explain. Explain the concepts of 'Conservatism and 'Consistency' with examples. State the difference between Capital Expenditure and Revenue Expenditure. ECO-2 1 P.T.O.

2 2. (a) What is 'Net Worth'? How is it computed? Explain with an example. (b) What do you understand by Self-Balancing System? State its advantages On 1st April, 2013 a firm of Sportswear, Delhi 12 sent a consignment of 500 swimming suits to M/s Ram Niwas and Sons of Kanpur (consignee) valuing Z 1,25,000. The consignor incurred an amount of Z 1500 in sending the goods to the consignee. At the end of the month, the consignee sent a statement of sales showing that 400 suits were Z 350 per suit and his selling expenses amounted to Z The consignee is entitled for a commission of Z 25 per suit sold. The unsold stock is to be valued at cost plus proportionate expenses. The consignee had also spent Z 500 on consignment received. You are required to show necessary ledger accounts in the books of the consignor. 4. From the following Ledger Balances extracted 12 from the books of a proprietor as on 31st March, 2013 prepare the Trading and Profit and Loss Account for the year ending on and also the Balance Sheet after taking into account the following additional information : ECO-2 2

3 Name of Ledger Account Debit Credit Balance (Z) Balance (!) Capital 8,00,000 Sales 15,00,000 Return inward Purchases 7,65,000 Return outward Stock ( ) Land and Building 8,00,000 Plant and Machinery 4,00,000 Furniture and Fixtures 1,50,000 Wages Carriage inward Salaries Rent Interest on loan Discount 5000 Bad debts 5000 Interest on Investment 9500 Cash in hand Cash at Bank Investments Debtors 1,52,000 Creditors 2,00, Bills Receivable and Payable Loan 2,50,000 Total 27,96,500 27,96,500 ECO-2 3 P.T.O.

4 Additional Information : (a) Unsold stock on , Z 1,75,000. (b) Depreciate : Plant and 15% Furniture and 15%. (c) Provide Bad debt 5%. (d) Outstanding Rent, 13, On January 1, 2010, a firm purchased a Machine 12 for Z 75,000 and spent Z 5,000 on its erection. On 1st July, the same year, a second machine was purchased for Z 40,000. On 1st July 2011, the firm sold the machine which had been purchased on , for Z 55,000. On July 1, 2012, a new plant costing Z 60,000 was added and the machinery purchased on 1st July 2010 was disposed off for Z 30,000. Firm charges depreciation 10% on fixed instalment basis. Prepare Machinery Account for 3-years showing balance as it would appear on Write short notes on any two of the following : (a) Joint Venture as a temporary partnership. 6+6 (b) Secret reserves. (c) Selection of a method of charging depreciation. (d) Types of Assets. ECO-2 4

5 FrI21 : 2 hiu 37A1M74 37W : 50 Tff : 70% *F. : fin.6' d1t 7. r7-q# SR/ til&-ll Ffifi6 e 3t i 1. ri tgc-f -14 fffftir : 7+7 (a) 7T-0' A-ur ITT-A' -z7r ITT' ,sit-IIL; 1 (b) Trcii i yrdri tgicif dgf 31{-0444 (Aid' qzrf 31'7 t? cqrsql Tri-A7 I (c) 72TIch(c\4cl dqwul t.se41W-A7 I (d) ttttd owl 72TT t 3 ECO-2 5 P.T.O.

6 2. (a) f549 Tn7fff (Net Worth) -A qzif t? (-44-i44 dial t? v* dqiui (b) TE1 TIVfft (Self-Balancing System) 74 31rq izrr Tr1750 t? 77t 'ffri4 Z"gi.-tr-A k 2013 qc-ci 12 1:Fri AR f ( 11-rEft) 1,25,000 t 500 itui TV Traci f*-7i mac ER z 1,500 oiq f fff tif?4,rnfirfa --tur -Tq" f-<a-r-zrr 7Tzfi ft td 350 Tit T{ A cif z 8,000 fdwzt od44 ft I th art 7 writa- 3Tr --*-R)- t I F.4-11 fq--k 1-11C1 ITT itc1.1;-1 rwid s Trfd-W &ft t 3747Tri f*--41. zildr t IiffErt 500 taqui 3171.Ft-4 ift oi4 rr,1 01 tt.71ā t tr77 I 4. f, 77-* (gcf 7)1# 12 (31 HI -ci, 2013 lit) 37T0T TP7T7Ala (41(4 17it -gftat aqrr R --tr--a7 ECO-2 6

7 "LA..R (gi wr 9-Ft trqz in (Z) *ftz ilq (Z) - 8,00,000 fawzr - 15,00, arm W arcrt.dtch ( ) 35,000-7,65, ,000 80,000 - IIITE a %Taff 8,00,000 - Lei Id Trvffit TOW.q. f44 cmivit ,00,000-1,50,000-70, T4W ,000 - q1-1 48,000-1-*--uzir 35,000 - itut ITT Cell Zr z (WA) I-4ff WTI 4 T ITT.441,4 15,000-5,000-5, ,500 tr*3-tti 21,500 - 'I, *(E 55,000 - MT -Kit r')-kr 75,000-1,52, ,00,000.wf-d 50, ffuErF AT t4 iq.1 20,000 15,000.t. [ - 2,50,000 T 27,96,500 27,96,500 ECO-2 7 P.T.O.

8 3ifer4w *Lull : (a) T 3TF-4-7 HIc1 1,75,0001 (b) Loid 1:171-9-# 15%, 791-4T fvtatieit 15% I (c) 317h74 fa7 t974 7T 5% cM7 f*-zif t1 (d) 3 f*-tt7t 13, d1, 2010.") , Z Rit rziq ci4ir,114, f-*7 d ,000 afft 14'47 TgfTt I '") T 1"t , frt1 f{ f 60,000 ' 'ff2tt 1 Ac c 30, fa-0:17 f*-77 (Fixed instalment) tqfq. 3INTT 'T 10% 7fff itc-.44vfl tl a1-1 1: /TM T TT -7)7 f<u F-1 r(5 CI 14 ft-4: Tffk,p7 fz wfurz.ii f7ft i7 6+6 (a)t47( dkistoi, T:ft7ft tco-i 14 (b) T 71. (Secret reserves) (c) 4-1C-1 W4 f-qrq q (d) 4Ct4I.1 rig t 7TTT ECO-2 8

BACHELOR'S DEGREE PROGRAMME Term-End Examination GO December, 2011 ELECTIVE COURSE : COMMERCE ECO-2 : ACCOUNTANCY-I

No. of Printed Pages : 7 ECO-2 BACHELOR'S DEGREE PROGRAMME Term-End Examination GO December, 2011 ELECTIVE COURSE : COMMERCE ECO-2 : ACCOUNTANCY-I - Time : 2 hours Maximum Marks : 50 Note : Attempt any