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Posted Date: 12 Aug 2009 Posted By: ezhilarasi Member Level: Gold
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2009 Pondichery University Computer application B.C.A DEGREE EXAM ,fundementals of accountancy Question paper
B.C.A DEGREE EXAMINATION, MAY 2009
Second semester
Computer applications
FUNDAMENTALS OF ACCOUNTANCY
TIME: 3 hours Max mark: 100
PART-A (10*2=20 MARKS)
ANSWER ALL QUESTIONS:
1. What is double entry book keeping?
2. Mention any two limitations of the single entry system.
3. State the errors that are disclosed by a trial balance.
4. What is real account?
5. What is trading account?
6. What is subsidiary book?
7. What is prime cost?
8. Give formula for liquidity ratio.
9. What are the elements of cost?
10. What is safety stock level?
PART-B(5*6=30 MARKS)
ANSWER ANY FIVE QUESTIONS:
11. Calculate the ordering level of material A from the following particulars:
(a) Minimum limit 5000 units
(b) Maximum limit 25,000 units
(c) Daily requirements of material 1,000 units.
(d) Time required for fresh delivery 10 days.
12. David keeps his books as the single entry system and the following information is available:
1.4.1998 31.3.1999
Rs. Rs.
Furniture 200 200
Stock 2, 8000 3,050
Sundry debtors 2,100 3,400
Cash 150 200
Sundry creditors 1,750 1,900
Bills payable 300
Loan 500
Investment 1,000
He had drawn out of the business Rs.500 during the year.
Prepare a statement showing his profit for the year ended 21.3.1999 after writing off 10% depreciation on furniture and making a provision for bad debts at bob on sundry debtors.
13. Prepare cost sheet from the following information:
Rs.
Materials used 1, 50,000
Direct wages 1, 20,000
Factory overheads 30,000
Administrative expenses 20,000
Direct wages 20,000
Profit 20% on selling price
14. How will you rectify the following errors?
(a) A sale of goods to the value of Rs.8, 000 to Raja has been debited to Raju.
(b) A purchase of goods from arun amounting to Rs.6, 000 has been debited to his account.
(c) A payment of Rs.10, 000 in respect of salary paid to the manager has been debited to his personal account.
(d) The total of the discount column on the debit side of the cash book has been added short by Rs.600.
15. on 1st January 1998, a firm purchased five machines at Rs.20,000 each. On july 1, 2000 it bought two additional machines at the price of Rs. 20,000 each. Installation charges Rs.1000. the accounts are closed each year on 31 st Desember. Depreciation is provided at 10% pa. Show the machinery account for 5 years under Reducing Balance Method.
16. Explain the various types of accounting convention.
17. Define Depreciation and explain the different methods of providing depreciation
18. Explain in detail about the Dupont analysis.
PART-C(5*10= 50 MARKS)
ANSWET FIVE QUESTIONS
19. (a) from the following particulars of Mr.karunanithi, who keeps his books on single entry, prepare Trading profit and loss account and a balance sheet for the year 31st December 1999.
1.1.99 31.12.99
Rs. Rs.
Machinery 18,000 18,000
Stock 8,000 7,000
Debtors 2,000 3,000
Creditors 5,000 4,000
Cash 4,660 5,120
The following transaction took place during the year ending 31st December 1999
Rs.
Wages 6,000
Sundry expenses 2,500
Printing 1,120
Rent 2,500
Lighting 780
Cash collection from customers 82,500
Cash purchases 64,340
Carriage 1,680
Purchase Returns 1,000
During the year Mr. Karunanithi had taken goods form his business for his own use amounted to Rs. 15 per week. He had not paid any money into business. He had also taken cash Rs.3, 120 for domestic purpose.
Or
(b) The following Trail Balance of Arun as at 31st Dec.2005 is given to you. Prepare final Accounts.
Debit balances Rs. Credit balances Rs.
Opening stock 15,000 capital 90,000
Land and Buildings 35,000 sundry creditors 9,600
Machinery 50,000 purchase
Furniture and returns 2,100
Fixtures 5,000 sundry incomes 1,200
Purchases 1, 06,000 Reserve for bad
Salaries 11,000 debts 300
General expenses 2,500
Rent 3,000
Postage and
Telegram 1,400
Stationary 1,300
Wages 26,000
Freight on
Purchases 2,800
Carriage on sales 4,000
Repairs 4,500
Sundry debtors 30,000
Bad debts 600
Cash in hand 100
Cash at bank 6,400
Sales returns 5,100
_______ ________
3, 10,200 3, 10,200
¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯
Adjustments:
(i) Wages outstanding Rs.2, 100.
(ii) Depreciate: Land and Buildings 2%, Machinery 10% and Furniture and Fixtures 15%
(iii) Closing Stock Values Rs.14, 900.
20. (a) Calculate current asserts, current liability, and stock turnover ratio from the following:
Current ratio=5 Working Capital =Rs.1.20.000
Opening stock=Rs.39, 000 Closing Stock=Rs.41, 000
Sales=Rs.7, 00,000, Gross profit ratio=25% on sales
Or
(b) From the following details, make out a balance sheet with as many details as possible
(i) Stock Velocity=6
(ii) Capital turn over ratio=2
(iii) Fixed assets turn over=4
(iv) Gross profit turnover ratio=20%
(v) Debtors velocity=2 months
(vi) Creditors velocity=73 days.
21. (a) journalize the following transactions:
Rs.
(i) Raja started business with each 25,000
(ii)He sold goods on credit 10,000
(iii) Purchased furniture for cash 12,000
(iv) Paid salaries 2,500
(v) Withdrew cash for private use 2,300
(vi)Received rent from tenants 1,000
(vii) Purchased goods from Murali for
Cash 1,800
(viii) Cash deposited into bank 5,000
Or
(b) The cash book of Mr.Raman showed a balance of Rs.50, 000 on 30-09-2005. This balance did no tally with the balance showed by the pass book. From the following particulars ascertain the bank balance as per pass book.
(i) Cheques deposited into bank but not colleted up to 30-09-2005 Rs.15, 000.
(ii) Cheques issued to customers but not presented for payment up to 30-09-2005, Rs.8,350
(iii) Bank charges not entered in the cash book Rs.200.
(iv) A Cheque for Rs.25000 deposited into bank for collection has been dishonored by the fact of dishonor is not recorded in the cash book.
(v) A cheques issued by Mr. Gopalasamy for Rs.1500 has been wrongly debited to Gopal’s account by the bank.
22. (a) Prepare profit& loss account from the following information:
Rs.
(i) gross profit transferred 2,70,000
(ii) Discount received 5,000
(iii) Discount paid 3,000
(iv) Salaries paid 15,000
(v) Rent paid 5,000
(vi) Postage and telegram 2,000
(vii) Office expenses 1,000
(viii) Depreciation on plant 1,500
(ix) Depreciation on office furniture 1,000
(x) Bad debts 200
(xi) Stationary 1,500
(xii) Repair 1,000
(xiii) General expenses 500
(b) Prepare cost sheet from the following:
Rs.
(i) Opening stock of finished goods 1,800
(ii) Closing stock of finished goods 500
(iii) Opening stock of work in progress 1000
(iv) Material used 1, 50,000
(v) Direct labour 50,000
(vi) Factory overheads 10,000
(vii) Selling and distribution
Expenses 5,000
(viii) Office and administration expenses 4000
Net profit is 25% of cost
23. (a) Following information is available in respect of component A 25:-
Maximum stock level 16,800 units
Budgeted consumption:
Maximum 1,500 units per months.
Minimum 800 units per months.
Estimated delivery period:
Maximum 6 months.
Minimum 2 months.
You are required to calculate: Re-order level and Re-order quantity.
Or
(b) What do you mean by accounting standards? What are the contents of Indian Accounting Standards?
________
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