A Firstranker's choice
Total No. of Questions — 32
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Total No. of Printed Pages - 4
Part — 111
COMMERCE, Paper — 1
(English Version)
Time : 3 Hours [Max. Marks : 100
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PART - I (Marks — 50)
SECTION - A
Answer any two of the following questions not exceeding 40 lines each : 2x10=20
- Define the Co-operative Society. Explain its features.
- Distinguish between a Private Company and a Public Company.
- What is Business Finance ? Explain its needs and significance in the business
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SECTION -B
Answer any five of the following questions not exceeding 20 lines each : 4x5=20
- Equity Shares.
- Share and a debenture.
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Answer any five of the following questions not exceeding each: 5x2=10
A Firstranker's choice
PART - 1§ (Marks - 50)
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Answer the following question - 1x20=20
From the following Trial Balance. prepare Final Accounts of Sathish as on 31-12-2017 -
Trial Balance
| Debit Balances | Amount | Credit Balances | Amount |
|---|---|---|---|
| Opening Stock | 1000 | Sales | 20,000 |
| Cash in hand | 10,000 | Returns | 800 |
| Purchases | 1,500 | Capital | 40000 |
| Wages | 11,000 | Creditors | 4250 |
| Rent | 3,000 | Discount | 800 |
| Carriage Inward | 1,000 | ||
| Fuel and Power | 1,000 | ||
| Insurance | 500 | ||
| Buildings | 10,000 | ||
| Debtors | 7,000 | ||
| Salaries | 1,300 | ||
| Legal Expenses | 600 | ||
| Drawings | 1,000 | ||
| Discount | 750 | ||
| Printing, Stationery | 1,400 | ||
| Machinery | 6,000 | ||
| 65,850 | 65,850 |
Adjustments :
- Closing Stock 2.100.
- Outstanding Stationery 600.
- Depreciation on Machinery 10%.
- Bad debts 500.
- Prepaid Wages 500.
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SECTION-E
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Answer any one of the following questions : 1x10=10
- Prepare three column Cash Book from the following particulars :
March
1 : Cash in Hand 11.000
Cash at Bank 20.000
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Cash Sales 1.900
Issued Cheque to 1.800
Received cash from 1.850
Discount allowed 150
Cash withdrawn from Bank for office use 550
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Salaries paid by cheque 400
Cash purchases 600
Paid into Bank 800
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- From the following information, prepare a Bank Reconciliation Statement of Ms.
Sathish Brothers as on 30" April, 2017
- Credit balance of Pass Book 45,000.
- Cheque amounting to 10,500 were deposited in the Bank but only cheques of 4,500 were cleared upto 30" April.
- Cheques amounting 15.000 were issued but cheques worth 5,100 not been presented for payment in the Bank upto 30" April.
- In the Pass Book there was a credit 300 for interest on investments and debit of 75 for bank charges.
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SECTION - F
Answer any two of the following questions : 2x5=10
- Explain different types of Accounts alongwith their debit-credit rules.
- Prepare Shirisha’s account from the following particulars :
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2017
January
1 : Amount due to Shirisha 12,000
7 : Goods purchased from Shirisha 16,000
14 : Goods returned to Shirisha 5,000
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19 : Cash paid to Shirisha 6,000
23 : Goods purchased from Shirisha 9,000
30 : Shirisha’s account is settled with 10% discount
- Prepare Sales Book and Sales Return Book from the following :
2017
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May
1 : Sold goods to Rahul 6,500
3 : Sold goods to Manish 6,000
8 : Returned goods by Rahul 700
11 : Sold goods to Raj Kumar 12.000
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14 : Sold goods to Bhanu 11,000
17 : Returned goods from Raj Kumar 2,000
21 : Sold goods to Anand 9,000
- What are the Errors disclosed by the Trial Balance ?
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FirstRanker.
A Firstranker's choice
SECTION -
five of the following questions : 5x2=10
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- Accounting Cycle ?
- Entity Concept.
the following transactions -
2017
business with cash 20.000
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plant 5.000
for postage
6.000
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