B.Com In Investment Management SEM I 2018 2019 Nov 2019 INV. MGT. INTRO. TO ACCOUNTING I Question Paper - Mumbai University | munotes

Questions asked in this paper

• 2) Figures to the right side indicate full marks

1. Q3 Answer should be precise and to the point
2. Q4 Use of simple calculator is allowed
3. Q5 Specify assumptions, if any, while answering the questions 1.a) MULTIPLE CHOICE QUESTION : (ANY EIGHT) [8]
4. Q1 Totalling of journal or ledger
5. Q2 Machinery bought on credit for permanent use
6. Q3 Money value or Reputation of business is known as
7. Q4 Hire Purchase Comprise of Hire Purchaser and ‘
8. Q5 Assets which can be seen are called-as
9. Q6 The goods remaining unsold are
10. Q7 Rent Paid to landlord is debited to Account
11. Q8 Sale of typewriter to be credited to Accounting for Inventory. is Provided by
12. Q10 The AS.10 does not apply to Paper Subject Code: 81502 Introduction to Accounting-I
    • b) MATCH THE COLUMN: (ANY SEVEN) 7
13. Q2 Journalize the following transactions, Post them into ledger and prepare trial balance in books of M/s Jan. 01 Business started with Cash Building Rs 85000; Furniture Rs. 25000 Purchased Goods worth Discount from Ritesh & Co Sold Goods worth to Parmar and Co Jan. 20 Received Cash from Parmar Paper Subject Code: 81502 Introduction to Accounting-I
14. Q2 State whether the following Capital, Revenue or Deferred Revenue Expenditure: 15 marks
15. Q2 Wages incurred to install the machinery
16. Q3 Cost of training of employees
17. Q4 Renewal of license
18. Q5 Brokerage and Commission paid for raising capital
19. Q6 Heavy Expenditure incurred on advertising
20. Q7 Amount received on sale of old furniture 3.) Doshi Roadways purchased a trucks from Tata Ltd. On hire-purchase system on The cash price of each truck was Rs. 15,000. Payment was made as follows: [15] 1.1.2016 : Rs.2,000 down payment, remaining payments is in Rs.3,000/- five installments at the end of every year Depreciation at 10% per original cost is charged You are required to: calculate interest per year; and show the necessary accounts.in the books of Doshi
21. Q3 Find out the value of closing stock of M/s Mayur Ltd. using (A) FIFO Method (B)Weighted Average Method from the following details of Material as on 31“ January, 2016 Paper Subject Code: 81502 Introduction to Accounting-I
22. Q4 Below is the Trial Balance of m/s Karishma as on December 2016: Following is the additional information given to you: 15 marks
    • a) Provision for doubtful debts to be maintained at 10% Depreciation to be written off on machinery @ 10%p.a 75% of Lightning Expenses and Rent are to be charged to factory and the balance to office
    • d) and Salaries of Rs. 2,000 of December 2016 were paid in the month of Paper Subject Code: 81502 Introduction to Accounting-I
    • e) Closing stock as on December 2016 was Raw Materials Rs.15,800 Finished Goods Rs 18,200 and Work-In-Progress was Rs. 7,000 4.a) From the following particulars, Prepare Manufacturing Account for the year ended [8] Paper Subject Code: 81502 Introduction to Accounting-I 4.b) Pass necessary adjustment entries for the following adjustment: [7]
23. Q1 Interest on Capital Rs 500 and Interest on Drawings Rs 150
24. Q3 Closing Stock was valued at Rs. 55,000
25. Q4 Provision for doubtful debts to maintained @ 5% on debtors of Rs 50000
26. Q6 Goods withdrawn by proprietor worth Rs 6500 5 a) Explain AS-1 & AS-2 [8]
    • b) Explain Accounting Concepts and Conventions? 5 Write Short Notes (ANY THREE) [15] 5 Objectives of Accounting 7

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