Rajiv Gandhi University of Health Sciences, Karnataka
I Semester Bachelors in Hospital Administration Degree Examination — OCT-2019
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Time: Three Hours
Fundamentals of Accounting
Q.P. CODE: 1303
(QP contains Two Pages)
Max. Marks: 80 Marks
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Your answers should be specific to the questions asked
Draw neat, labeled diagrams wherever necessary
LONG ESSAYS (Answer any Two) 2 x 10 = 20 Marks
- Explain different kinds of accounting concepts and conventions.
- Prepare trading and profit and loss account for the year 31 March 2017 and a balance sheet as on that date.
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| PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
|---|---|---|---|
| CAPITAL | 40,000 | Depreciation | 4,600 |
| Bad debts | 1,000 | Bad debts provision | 3,000 |
| Salaries | 8,000 | Outstanding salaries | 1,000 |
| Insurance | 1,300 | Debtors | 50,000 |
| Prepaid insurance | 300 | Creditors | 40,000 |
| Purchase (less closing stock) | 1,50,000 | Closing stock | 22,400 |
| Machinery | 36,000 | Sales | 2,10,000 |
| Furniture | 5,400 | Opening stock | 15,000 |
- Enter the following transactions in proper subsidiary books
- Mar 01 - Bought from albert Rs.2,000
- Mar 02 - Sold goods to brown Rs.1,000
- Mar 08 - David bought goods from us Rs.700
- Mar 10 - Received goods returned by brown Rs.80
- Mar 12 - We returned goods to albert Rs.50
- Mar 18 - Sold goods to mohan Rs.500
- Mar 22 - Purchased goods from Moses Rs.600
- Mar 25 - Returned goods to Charles Rs.100
- Mar 30 - Sold goods to Salomon Rs.600
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SHORT ESSAYS (Answer any Eight) 8 x 5 = 40 Marks
- Explain branches of accounting.
- Explain limitations of accounting.
- Differentiate between profit-and loss account and balance sheet
- What are the different types of accounts? Explain golden rules of accounts.
- Explain different types of errors.
- Journalise the following transaction in the books of ram
- July 1-Started business with cash Rs.4,000
- July 2-Purchased machinery Rs.2,000
- July 10-Bought furniture from suresh Rs.500
- July 12-Sold furniture Rs.100
- July 15-Purchased goods from srinivas on account Rs.4,000
- July 18-Sold goods to Sridhar Rs.2,000
- July 25-Returned damaged goods to srinivas Rs.50
- July 27-Received cheque from Sridhar Rs.1,000
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- Prepare a personal account of varun from the following transactions in the books of ganesh:
- Mar 1-Debit balance of varun Rs.1,050
- Mar 5-Bought from varun Rs.1,500
- Mar 7-Cheque issued to varun Rs.1,800
- Mar 9-Sold to varun Rs.3,500
- Mar 12-Ganesh sold goods to varun Rs.1,600
- Mar 14-Varun sold goods to ganesh Rs. 900
- Mar 20-Received cheque from varun Rs.1,800
- Mar 24-Varun claimed as allowance of Rs.300 for damaged goods
- Mar 28-Varun received goods returned by ganesh Rs.450
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- Enter the following transactions in simple cash book
- July 1-Balance of cash in hand Rs.15,000
- July 8-Purchased goods for cash from X for Rs.3,200
- July 15-Sold goods for cash Rs.4,800 to Y
- July 20-received commission is Rs.650
- July 21-Paid commission Rs.550
- July 28-Paid to satish on account Rs.7,150
- July 31-Paid salary to the office clerk Rs.1,000 and office rent Rs.600
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- From the following balances prepare a trial balance
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| Capital | 80,000 | Sales | 50,000 |
| Purchases | 30,000 | Salaries | 4,000 |
| Rent | 3,000 | Insurance | 600 |
| Drawings | 10,000 | Bills payable | 5,000 |
| Machinery | 56,000 | Bank | 9,000 |
| Cash | 4,000 | Stock | 10,400 |
| Debtors | 5,000 | Creditors | 2,000 |
| Bills receivable | 3,000 | Loan to madhu | 2,000 |
- Enter the following transactions prepare bank reconciliation statement as on 31-8-2016:
- Bank balance as per cash book Rs.8,000
- Cheques of Rs.1,000, 2,000 and 3,000 issued on 8™ , 10" and 13" of august of these a cheque issued on 10" only was not presented forpayment till 315 august
- Interest and dividend collected by the banker on 25" august and informed the customer on 1%t September Rs.500
- Cheques of Rs.3,300 deposited into bank-of which a cheque of Rs.2,300 only collected in august
- A cheque of Rs.2,000 received and debited in cash book but not sent to bank till 31 august
- The following entries found in pass book only:
- Interest on bank balance Rs.250
- Electricity bill paid Rs.400
- Commission charged Rs.50
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SHORT ANSWERS (Answer any ten) 10 x 2 = 20 Marks
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- What is book keeping?
- Define accounting.
- What is meant by accounting equation?
- What is meant by journal?
- What is meant by posting?
- What is meant by suspense account?
- What is meant by petty cash book?
- What is meant by balance sheet?
- What is a creditor?
- What is meant by overdraft?
- What is meant by double entry system of book keeping?
- How do you treat outstanding salaries of final accounts?
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