Download PTU BHMCT 1st Semester 2019 May 14503 ACCOUNTS I Question Paper

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Total No. of Pages : 02

Total No. of Questions : 09

BHMCT (Sem.-1)

ACCOUNTS-I

Subject Code : BH-105

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M.Code: 14503

Time: 3 Hrs.

Max. Marks : 30

INSTRUCTIONS TO CANDIDATES :

1. SECTION-A is COMPULSORY consisting of TEN questions carrying ONE mark each.

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2. SECTION-B contains FIVE questions carrying 2 1/2 (Two and Half) marks each and students has to attempt any FOUR questions.
3. SECTION-C contains THREE questions carrying FIVE marks each and students have to attempt any TWO questions.

SECTION-A

1. Write short notes on :
   1. Money measurement concept
   2. Contra entries

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   3. Drawings
   4. Cash discount
   5. Compound journal entry
   6. Outstanding expenses
   7. Fundamental accounting equation

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   8. Golden rule of real accounts
   9. Credit note
   10. Wasting assets

SECTION-B

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1. Pass the opening journal entry from the following information :
   Cash Rs.10,000, Outstanding expenses Rs. 3000, Furniture Rs.5000, Due from Mr. K Rs.3000, Due From Mr. R Rs.5000, Due To Mr. N Rs.3500, Due to Mr. J Rs.500, Land and Building Rs.50000.
2. What is the difference between cash discount and trade discount? Explain with suitable examples.
3. Describe in detail generally accepted accounting principles.
4. Prepare the accounts of Ganesh and Co. from the following information :
   

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   2010	Particulars	Amount (Rs.)
   Dec 1	Balance due from Ganesh & Co.	10,000
   Dec 4	Cash sales to Ganesh & Co.	4,000
   Dec 8	Bought furniture from Ganesh & Co.	20,000
   Dec 12	Ganesh & Co. Purchased goods from us	6,000
   Dec 15	Ganesh & Co. returned goods	400
   Dec 20	Ganesh & Co. settled his account by cheque and received discount	300

5. Define any five accounting concepts with suitable examples.

SECTION-C

1. Explain three types of accounts with examples. Give their respective rules of journalizing the transactions. Is it possible to pass a single journal entry for two or more transactions?
2. Enter the following transactions in journal :
   

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   Month	Particulars
   January 1	Mr.Amit started business with Rs.6,00,000
   January 10	Bought furniture from Modern Furniture for Rs.20,000
   January 11	Purchased goods for cash Rs.15,000
   January 15	Purchased goods from Roy & Co. for Rs.50,000
   January 18	Bought machinery for Rs. 10,000 and payment made by cheque
   January 20	Paid electricity bill Rs.100
   January 23	Received commission by cheque Rs.5000

3. Prepare a three column cash book for recording the following transactions :
   

   2011	Particulars	Amount (Rs.)
   March 1	Cash in hand	10,000
   March 1	Cash at bank	8,000
   March 2	Sold goods for cash with cash discount @ 10%	6,000
   March 3	Paid by cheque for direct purchases	1,500
   March 5	Paid rent in cash	1,000
   March 7	Deposited cash into bank	2,000
   March 9	Received cheque from Arun after a discount of Rs.100	900
   March 10	Received commission in cash	700
   March 11	The cheque received from Arun was dishonoured	900
   March 12	Paid for wages	100
   March 14	Cash withdrew from Bank	3,000

NOTE : Disclosure of Identity by writing Mobile No. or Making of passing request on any page of Answer Sheet will lead to UMC against the Student.

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