Download PTU BHMCT 2020 March 1st Sem 14503 Accounts I Question Paper

Roll No. ___________

Total No. of Questions: 09

Total No. of Pages : 02

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BHMCT (Sem.-1)

ACCOUNTS-I

Subject Code: BH-105

M.Code: 14503

Time: 3 Hrs.

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Max. Marks : 30

INSTRUCTIONS TO CANDIDATES :

1. SECTION-A is COMPULSORY consisting of TEN questions carrying ONE mark each.
2. SECTION-B contains FIVE questions carrying 2¹/₂ (Two and Half) marks each and students has to attempt any FOUR questions.
3. SECTION-C contains THREE questions carrying FIVE marks each and students have to attempt any TWO questions.

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SECTION-A

1. Fill in the Blanks with the word debited or credited :
   1. Capital account is always __________ when the proprietor contributes into the business.
   2. Bad debts are written off by __________ bad debts account and crediting sundry debtors account.
   3. Machinery account will be __________ when machinery is sold by the business.
   4. All expenses/losses are __________ as per double entry system.

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   5. Furniture account is __________ when the business sells furniture.
2. Fill in the Blanks with an appropriate word :
   1. Cash is a __________ asset. (Fixed/ Current)
   2. Purchases Book always shows __________ balance. (Debit/ Credit)
   3. In every transaction, at least __________ parties are involved.

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   4. __________ Book maintains cash balance under imprest system.
   5. Capital account is a __________ account.

SECTION-B

2. Explain two accounting concepts of your choice.

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3. Why is Journal sub-divided? Briefly explain various types of subsidiary books.
4. Discuss prominent characteristics of Journal and Ledger.
5. What is a contra entry and how is it passed?
6. Discuss opening entry.

SECTION-C

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7. What is 'Double Entry System'? Discuss the important rules with appropriate examples.
8. Enter the following in a Triple Column Cash Book:
   2017
   Jan-01 Cash in hand Rs 15000
   Jan-01 Cash at bank Rs 57000
   

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   Jan-05 Sold goods Rs 19000
   Jan-09 Paid by cheque for direct purchases Rs 13400
   Jan-17 Paid cash wages Rs 1200
   Jan-26 Received cheque from Avinash Rs 10000
   Jan-28 Deposited the above cheque in Bank
   

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   Jan-29 Paid advance rent Rs 30000
9. Enter the following transactions in the Journal and the Ledger :
   1. Raj started business with Rs 350,000.
   2. Opened Bank account with Rs 200,000
   3. Purchased Machinery Rs. 100,000 and paid Rs. 30,000 on installation of the machinery.
   4. Purchased goods worth Rs. 50,000 from Ramesh.

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   5. Sold goods for Rs. 20,000 on cash.

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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