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

Size: px

Start display at page:

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

Isabella Jefferson
5 years ago
Views:

1 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 four questions, including question no. 1 which is compulsory. 1. Answer any two questions from the following : 7+7 (a) (b) (c) (d) What is significance of debit and credit balance in different types of accounts? Explain with examples. What is Trial Balance? State the type of errors that do not affect the trial balance. Why is journal sub-divided? Name the special Journals generally maintained by business and state the type of transactions entered in each of them. Explain briefly the utility of Debit note and credit note and give the format of any one of these. ECO-2 1 P.T.O.

2 2. {a) State the transactions recorded in Bill 6+6 Receivable and Bill payable journals. (b) Distinguish between cash Basis and accrual basis of accounting. Why do you consider accrual basis more rational? 3. (a) State the salient features of Joint venture. 6+6 Distinguish it from consignment. (b) What is a single Entry System? Distinguish it from Double Entry System. 4. The following information is extracted from the 12 books of businessman. Rs. Debtors as on Bad debts during ,000 Provision for Bad debts is to be maintained at 5% of debtors A provision for discount on debtors is also to be made at 2% you are required to calculate the amount to be set aside in respect of provision for bad debts and provision for discount on debtors respectively, and give the journal entries there of. 5. How would you rectify the following errors in 12 books of K and CO? (a) The sales returns book has been undercast by Rs ECO-2 2

3 (b) (c) (d) (e) (f) The total of the Bill Receivable Book amounting Rs has been posted to the credit of Bill Receivable Account. While posting purchases book to be ledger the personal Account of Kumar has been credited with Rs. 221 instead of Rs Rs. 10,000 paid for the purchases of a T.V. set for the proprietors is debited to General exp. A/c An amount of Rs paid by Pran has been credited to the account of Praneet. Goods sold to Inder for Rs. 1,200 has been entered in the Purchases Book. 6. On July 1, 2006 a company purchased a plant for 12 Rs. 2,00,000. Depreciation was provided at 10% per annum on straight line method on December 31, every year. With effect from Jan. 2008, the company decided to change the method of depreciation to diminishing balance 15% per annum. On 1 St July 2009, the plant was sold for Rs. 1,20,000. Prepare Plant Account from 2006 to ECO-2 3 P.T.O.

4 X11 c14~ dlii I ET chi 1 ch 1-1 qkicit, k1ww 41 ckei ch 14 : WirIT17: : *ffrreti-i Frizi :2 3TA7WTgl3 : 50 *6" : ft't7 Wrf' mq-t7 drh figrq. / 5Iq1 '.1(9e411 3A-4111 `I 1. fttt d7r q 31 I 7+7 (a) fq-fir- t tta-itt 4rse. qtrr 4-wa t? Tirta. ce.41t9d411 (b) gm4d ITT TeTzi t? *.Z.-7:g WrM cirrle. I (c) \31-6 fa-fit9 wril TE4 fqiirṟqa. rrn4ll \An t? fqfpsa \714(4 tra7 cev-ir ta (d) traz WP-IT 4F5e. dk-i413 11I'W1311 wrā71 721T f*-7:ft tf-a7 ECO-2 5 P.T.O.

5 2. (a) f--4-es (Act) (g t? R i',4- Tf 'ff211 kzr fq-o. 14 "rgit Aicti t I (b) Tr 3TOff 3IMITT TIT ;tgict.)-1-4 err t?31f Talii-R -ER ctgici.)-1-0 3Tfirw "Mt WiciFT \TIM I tl 3. (a) TitzjWi 3S1 4-1 rollact -4-F-A7 TIT 6+6 1=iu1.41-*-Tr TrwR t? (b) -cr-*7 twiti" cni c t? 747.) -Mft t 4. t.) folua- 75-it 31: tit T. ltit 'kr-4zmlj 1,000 c., t-alz 31-1-z1) % 0 7 *f t dftwr 2% '4'7'4 3-11q,711 Trt atrzk-a-i.& hi t mrafideii t 5. lirref Piiror(go apjf--474t 12 j'et7 31Tcf f*--{4 mcbik (a) fq-*-74-4pr:ft T T. tf cb+-1 fout ECO-2 6

6 (b) AP? Gigs (gi l TR-T fl f1 i TrEfTi (c) r * ceircrctim tgldl 4 :f-di41 ct)( TIITT tqllt 212 t=04 *i TR se. t TRIT1 (d) * «afetrvia 31:147 O1 qq1-1 7?(Z * Iry 10,000 T. cqq t.q1 t-i-qz (e) 3-14.gru -1q4 TA 1000 co-1 WI 1*(91-4 (f) 1,200 'T. W 4110 rzik) W4:{ cf tqf 6. 1,MI 2006 '0.) 'W:c191' 2,00, ki,co -kigifdrit 10% Aram' (.1411qi 11111t es0 31 fq1:fer cti *13:191" 7r-ea. 4 Ttr-T-4- -r-i-on fffznst "4 15% 'Era' 517 Trfed V- 7 if tki r)41111t I 2009 VI 1,20,000 V.14 7:07 t 2006 A 2009 'a'w'"1 Hill mil ECO-2 7

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

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