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Roll No.
Total No. of Pages : 03
Total No. of Questions : 07
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B.Sc. (IT) (2015 & Onwards) (Sem.-4)
BASIC ACCOUNTING
Time: 3 Hrs.
Subject Code : BSIT-405
M.Code: 74087
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Max. Marks : 60
INSTRUCTIONS TO CANDIDATES :
- SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks each.
- SECTION-B contains SIX questions carrying TEN marks each and students have to attempt any FOUR questions.
SECTION-A
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- Write short notes on :
- Explain three merits of Trial Balance.
- What do you mean by Subsidiary book?
- How Journal book differ from ledger?
- Define Income and Expenditure.
- Discuss in detail benefits of double entry system.
- Define Accounting.
- How will you calculate long term capital?
- What do you mean by prepaid expenses?
- How you define convention of accounting?
- Define Computer.
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SECTION-B
- Journalise the following transactions
Date Transactions Rs. 2009 Jan.1 Started business with cash 50,000 Jan.3 Sold Goods to Rohan 40,000 Jan.7 Goods purchased from Sohan 20,000 Jan.20 Paid Rent 500 Jan.25 Commission Received 200 Jan.30 Machinery purchased 10,000 - Prepare a Cash Book with discount column of Shri Shyam from the following transaction. Enter the following in Shri Shyam's Cash Book and show the Balance :
2009 March 1 Balance of cash in Hand Rs. 25,000 March 3 Rent paid Rs. 2,000 March 5 Purchased goods for cash Rs. 10,000 March 10 Stationery purchased Rs. 2,500 March 12 Sold Goods for Cash for Rs. 8,000 March 15 Cash received from Ram Rs. 980 and discount allowed Rs.20 March 18 Cash paid to Shyam Rs.950 and discount Received Rs.50 March 25 Wages Paid Rs. 2,000 - What do you mean by long term financial resources? Discuss in detail the method with which you can mobilize your financial resources.
- What do you mean by Accounting? Discuss in detail nature, principles and scope of accounting. Who are users of accounting information? What are the different forms of business organizations?
- From the following balances of Mr. Sunil, prepare the P&L. account for the year ended on 31-3-2004 and balance sheet for the same date,after making necessary adjustments.
PARTICULARS AMOUNT (RS) PARTICULARS AMOUNT (RS) Capital of MR. Sunil 2,28,800 Stock (1-4-03) 38,500 Drawing of MR. Sunil 13,200 Wages 35,200 Plant and Machinery 99,000 Sundry creditors 44,000 Freehold Property 66,000 Postage and telegrams 1,540 Purchases 1,10,000 Insurance 1,760 Return outward 1,100 Gas and fuel 2,970 Salaries 13,200 Bad debts 660 Office Expenses 2,750 Office rent 2,860 Office Furniture 5,500 Freight 9,900 Discounts (Dr.) 1,320 Loose tools 2,200 Sundry debtors 29,260 Factory lightening 1,100 Loan to Mr.Mukesh @ 44,000 Provision for bad debts 880 10% p.a. as on 1-4-03 Interest on loan to Mr. Mukesh 1,100 Cask at bank 29,260 Cash on hand 2,640 Bills payable 5,500 Sales 2,31,440 Adjustments :
- Stock on 31-3-2004 was valued at Rs. 72,600.
- A new machine was installed during the year costing Rs. 15,400. But it was not recorded in the books as no payment was made for it. Wages Rs. 1100 paid for its erection has been debited to wages account.
- Depreciate Plant and machinery by l/3rd, Furniture by 10%, freehold property by 5%.
- Loose tools were valued at Rs. 1,760 on 31-3-2004.
- Of the sundry debtors Rs. 600 are bad and should be written off.
- Maintain a provision of 5% on sundry debtors and doubtful debts.
- The manager is entitled to a commission of 10% of the net profit after charging such companies.
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- Discuss in detail applications of computers in accounting in the current scenario in the era of globalization.
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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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This download link is referred from the post: PTU B.Sc IT (BCA) Last 10 Years 2010-2020 Previous Question Papers || Punjab Technical University