Download RGUHS (Rajiv Gandhi University of Health Sciences) BHA (Bachelors in Hospital Administration) 2015 May 1st Semester 1303 Fundamentals Of Accounting Previous Question Paper

Rajiv Gandhi University of Health Sciences, Karnataka
I Semester Bachelors in Hospital Administration Degree Examination ? APRIL 2015
Time: Three Hours


Max. Marks: 80 Marks
Fundamentals of Accounting
Q.P. CODE: 1303
(QP contains Three Pages)
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
1.
What is meant by accounting principle? Explain different kinds of accounting concepts and
conventions.
2.
Enter the following transactions in proper subsidiary books:
Mar 01 ? Bought from Ram Rs.2,000
Mar 02 ? Sold goods to Sharma Rs.1,000
Mar 08 ? Laxman bought goods from us Rs.700
Mar 10 ? Received goods returned by Sharma Rs.80
Mar 12 ? We returned goods to Ram Rs.50
Mar 18 ? Sold goods to Jain Rs.500
Mar 22 ? Purchased goods from Mohan Rs.600
Mar 25 ? Returned goods to Anand Rs.100
Mar 30 ? Sold goods to Swamy Rs.600
3.
From the following trial balance of ANZ Ltd. as on 31st March 2014, prepare final accounts.
Debit
Amt in Rs
Credit
Amt in Rs
Stock (1-4-2012)
1,500
Sales
78,000
Purchases
25,000
Capital
20,000
Debtors
6,000
Returns outwards
1,000
Drawings
5,000
Bills payable
4,000
Returns inwards
800
Creditors
6,600
Machinery
15,000
Provision for bad debts
1,400
Bills receivable
2,500
Land and building
30,000
Salaries and wages
12,000
Trade expenses
7,000
Rent
1,200
Stationery
700
Bad debts
300
Furniture
3,500
Cash balance
500
111,000
111,000
Adjustments:
a) Closing stock as on 31st March 2014 is Rs.1,200
b) Accrued expenses: Wages ? Rs.400. Rent ? Rs.50
c) Provision for bad and doubtful debts at 15% on debtors
d) Depreciate machinery at 10% and land and buildings at 8%
SHORT ESSAYS (Answer any Eight)
8 x 5 = 40 Marks
4.
Explain advantages of accounting.
5.
Differentiate between journal and ledger.
6.
What is trading account? Explain its importance.
7.
Explain the errors identified by trial balance.
8.
Explain different system of book keeping.
9.
Journalise the following transactions:
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Rajiv Gandhi University of Health Sciences, Karnataka
2014
Jan 1st Rajini started business with a capital of Rs.50,000
Jan 2nd She purchased furniture for Rs.5,000
Jan 3rd She bought goods on credit from Vinod for Rs.8,000
Jan 14th She sold goods to Suresh for Rs.5,000
Jan 15th She received cash from Suresh Rs.3,000
Jan 18th She purchased goods for Rs.12,000
Jan 25th She sold goods for cash Rs.8,000
Jan 28th She paid rent Rs.1,200
Jan 31st She paid Vinod Rs.3,000 on account
10. Enter the following transactions. Prepare bank reconciliation statement as on 31.08.2014:
Bank balance as per cash book Rs.8,000
Cheques of Rs.1,000; 2,000 and 3,000 issued on 8th, 10th and 13th of August of these a
cheque issued on 10th only was not presented for payment till 31st August
Interest and dividend collected by the banker on 25th August and informed the customer on
1st 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 31st August
The following entries found in pass book only:
i. Interest on bank balance Rs.250
ii. Electricity bill paid Rs.400
iii. Commission charged Rs,50
11. From the following information prepare a trial balance as on 31st March 2013
Capital
12,500
Sales
15,450
Furniture
640
Motor car
6,250
Buildings
7,500
Debtors
3,800
Creditors
2,500
Bad debts
125
Opening stock
3,460
Purchases
5,475
Bank (Cr)
2,850
Purchase returns
125
Commission (Cr)
375
Sales returns
200
Advertisement
250
Interest account (Dr)
118
Cash balance
650
Insurance and tax
1,250
Salaries
4,082
12. Enter the following transactions in single column 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
13. Prepare the personal account of Mr. Ganesh from the following transactions: 2014
March 1 ? Debit balance of Ganesh account Rs.8,100
March 2 ? Bought of Ganesh Rs 1,400
March 5 ? Goods worth Rs.2,300 sold to him
March 9 ? Paid to him Rs.1,300
March 12 ? Returned goods to him Rs.130
March 15 ? Ganesh bought goods from us Rs.1,500
March 18 ? He returned goods Rs.600
March 22 ? Received a bearer cheque from Ganesh Rs.1,000
March 25 ? Goods worth Rs.250 sent back to him
March 30 ? Ganesh sold goods to us worth Rs.1,800
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Rajiv Gandhi University of Health Sciences, Karnataka
SHORT ANSWERS (Answer any ten)
10 x 2 = 20 Marks
14. What is book keeping?
15. Who is a debtor?
16. What is meant by posting?
17. What is meant by assets?
18. What is ledger?
19. What is meant by insolvent?
20. Name the different types of accounts.
21. What is meant by overdraft?
22. How do you treat outstanding salaries in final accounts?
23. What is meant by debit note?
24. What is meant by statement of affairs?
25. What is meant by final accounts?
*****
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