Rajiv Gandhi University of Health Sciences, Karnataka
I Semester Bachelors in Hospital Administration Degree Examination — APRIL 2015
Time: Three Hours Max. Marks: 80 Marks
--- Content provided by FirstRanker.com ---
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
--- Content provided by FirstRanker.com ---
LONG ESSAYS (Answer any Two) 2 x 10 = 20 Marks
- What is meant by accounting principle? Explain different kinds of accounting concepts and conventions.
- 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--- Content provided by FirstRanker.com ---
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--- Content provided by FirstRanker.com ---
Mar 30 - Sold goods to Swamy Rs.600 - From the following trial balance of ANZ Ltd. as on 31 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 31 March 2014 is Rs.1,200--- Content provided by FirstRanker.com ---
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
- Explain advantages of accounting.
- Differentiate between journal and ledger.
- What is trading account? Explain its importance.
- Explain the errors identified by trial balance.
- Explain different system of book keeping.
- Journalise the following transactions:
Jan 1st Rajini started business with a capital of Rs.50,000--- Content provided by FirstRanker.com ---
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--- Content provided by FirstRanker.com ---
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 - 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:
--- Content provided by FirstRanker.com ---
i. Interest on bank balance Rs.250
ii. Electricity bill paid Rs.400
iii. Commission charged Rs,50
--- Content provided by FirstRanker.com ---
- From the following information prepare a trial balance as on 31 March 2013
--- Content provided by FirstRanker.com ---
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 - 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--- Content provided by FirstRanker.com ---
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 - Prepare the personal account of Mr. Ganesh from the following transactions: 2014
--- Content provided by FirstRanker.com ---
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--- Content provided by FirstRanker.com ---
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
--- Content provided by FirstRanker.com ---
--- Content provided by FirstRanker.com ---
SHORT ANSWERS (Answer any ten) 10 x 2 = 20 Marks
- What is book keeping?
- Who is a debtor?
- What is meant by posting?
- What is meant by assets?
- What is ledger?
- What is meant by insolvent?
- Name the different types of accounts.
- What is meant by overdraft?
- How do you treat outstanding salaries in final accounts?
- What is meant by debit note?
- What is meant by statement of affairs?
- What is meant by final accounts?
--- Content provided by FirstRanker.com ---
--- Content provided by FirstRanker.com ---
--- Content provided by FirstRanker.com ---
This download link is referred from the post: PTU B.Tech 5th Semester Last 10 Years 2011-2021 Previous Question Papers|| Punjab Technical University