Download PTU B.Sc IT (BCA) 2019 May 4th Semester 74087 BASIC ACCOUNTING Question Paper

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 :

1. SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks each.
2. SECTION-B contains SIX questions carrying TEN marks each and students have to attempt any FOUR questions.

SECTION-A

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1. Write short notes on :
   1. Explain three merits of Trial Balance.
   2. What do you mean by Subsidiary book?
   3. How Journal book differ from ledger?
   4. Define Income and Expenditure.
   5. Discuss in detail benefits of double entry system.

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   6. Define Accounting.
   7. How will you calculate long term capital?
   8. What do you mean by prepaid expenses?
   9. How you define convention of accounting?
   10. Define Computer.

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SECTION-B

2. 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

3. 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

4. What do you mean by long term financial resources? Discuss in detail the method with which you can mobilize your financial resources.

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5. 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?
6. 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 :

   1. Stock on 31-3-2004 was valued at Rs. 72,600.
   2. 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.
   3. Depreciate Plant and machinery by l/3rd, Furniture by 10%, freehold property by 5%.

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   4. Loose tools were valued at Rs. 1,760 on 31-3-2004.
   5. Of the sundry debtors Rs. 600 are bad and should be written off.
   6. Maintain a provision of 5% on sundry debtors and doubtful debts.
   7. The manager is entitled to a commission of 10% of the net profit after charging such companies.

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7. Discuss in detail applications of computers in accounting in the current scenario in the era of globalization.

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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