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BCom FY BCom Sem 2 BCom Sem 2 (2016 2017) Feb 2017 ATKT ACCOUNTS Question Paper - Mumbai University | munotes

BCom Sem 2 (2016 2017) Question Paper, Feb.pdf
FY BCOM · 807 KB · 1 May 2025

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Older exam Feb 2017 - ATKT BUS. COMMUNICATION Semester-end · BCom sem 2 (2016 2017) → Newer exam April 2017 - MATHS Semester-end · BCom sem 2 (2016 2017) →

Questions asked in this paper

  1. Q1 a) Match the columns (any 8):- 8 marks
    • 1) Select a company in Tally a) Debited to Branch A/c
    • 2) “ b) Credited to Branch
    • 3) Relationship between “consignor” & c) Purchase /Trading A/c
    • 5) Expenses incurred by consignor f) Any size of business
    • 6) Goods received from another Branch g) Total Debtors A/c
    • 7) Collection from debtors by consignee h) Opening statement of Affairs
    • 8) ‘Closing balance of Goods sent to branch A/c * i) Principal and Agent
    • 9) Tally suits j) Debited to consignment A/c
    • 10) Goods returned by branch customers k) No entry in the books of
  2. Q1 b) State whether the following is True or False (any 7): 7 marks
    • 1) Under Stock & Debtors method, Branch Stock A/c is opened in order to ascertain net profit/ loss of Branch
    • 2) Del credere commission is always allowed on credit sale
    • 3) Ifconsignee gets Del credere commission, the consignor will bear the Bad debts
    • 4) Trial balance is prepared under single entry system in order to verify arithmetical accuracy of the records
    • 5) In single entry system, credit sales are recorded only in the Debtors A/c but no sales register is maintained
    • 6) Tally is simple, easy to setup and use
    • 7) Tally allows the user to maintain multiple companies & with unlimited levels of {
    • 8) Under the Stock n Debtors system Branch stock A/c is a Real A/c,
    • 9) The consignee acts as the agent of the consignor for supply of goods
    • 10) All expenses incurred by the consignee are credited to his A/c
  3. Q2 From the following details prepare Borivali Branch Account for the Six months ended December, 2013 after depreciating branch Furniture at 20% per annum :- (8) Opening branch Liabilities:- _ | Branch Expenses paid by the 68,000 Goods sent to the Branch 3,60,000 Remittances received from the 4,65,600 Petty Cash sent to the Branch | 32,000 Branch
  4. Q2 Mr. Kaushik is having his Head Office at Delhi and Branch office at Jaipur. Prepare the Branch Account in the of the head Office from the following transactions with Goods Supplied to Branch 6,20,000 Amounts Remitted to the during the year. Branch for: Amounts Remitted by the - Petty Cash 8,000 Realisation from 4,60,600 Closing balances at Branch: Opening Balance at Branch:- 2,000 - Debtors 1,06,000
    • 2. Enterprises of Pune has two branches at Ratnagiri and Devgad. The branches maintain a account with State bank and are authorised to make purchases locally. (15) Following information is obtained from Ratnagiri branch by Pune Office Balance as on : Transactions during the year Goods received from Payments to Creditors Receipts from Debtors Sales on Credit 40,000 Sales for Cash 1,00,000 Goods Returned by Customers 10,000 Goods Returned to Pune 12,000 i Goods sent to Kolhapur Branch 8,000 Expenses paid at branch By Cheque 19,200 Cash Deposit in Bank 2 Amount transferred to Pune ? Prepare necessary accounts for branches under Stock and Debtor method in Pune Office
    • 3. On 1“ November, 2016, Sahil sends goods costing Rs. 1,00,000 to Divya on consignment basis. Sahil paid Rs. 5,000 as Railway Freight and Rs. 2,000 as Insurance. On December,2016, an Account Sales was received from Divya disclosing that the entire quantity of goods were sold for Rs. 1,50,000 — Out of which Rs. 30,000 was sold on credit. A customer who purchased goods for Rs. 5,000 failed to pay and the debt proved bad. All other debts were collected by Divya in Full “As per agreement, Divya is allowed a commission @ 10% sales. Divya sends the amount due to Sahil by a cheque Prepare Necessary Ledger Accounts in the Books of Consignor. (15) The Virar Auto Ltd. Consigned to their agent in Vasai two motor cars costing Rs 48,000 each for sale. Commission was payable Ordinary 8% and Del-Credere Commission Thee agent was to bear all expenses in Vasai which amounted to Rs. 6,500. The agent sold one car for Rs. 65,000 and remitted Rs. 52,000 on account. The Second car was sold for Rs. 71,500 but out of this a sum of Rs. 13,000 became bad debt Prepare the necessary accounts in the Books of Consignee. (15)
    • 4. Sri Ganesh keeps his books by Single Entry. On 1-1-2016 his capital was Rs. 1,38,000. An analysis of his Cash Book for the year gives the following particulars. (15) Received from Sundry 1,20,000 Due to Bank (1* Jan) 14,800 Debtors 10,000 Payment to Creditors 50.000 Paid on Capital Account General Expenses 20,000 Balance at Bank 8,000 Balance in hand 200 From the above materials prepare a profit & Loss Account for the year ended 31-12-2016 and a Balance Sheet as at that date, after providing 5% interest on Capital, 10% depreciation on plant, 5% on Furniture & Fittings and a reserve of 5% on Sundry Debtors,
    • 4. Mr. Om Prakash does not maintain proper books of accounts. He produces following Loan From Bank (Bank). 20,000 From Debtors (Cash). 60,000 To Creditors (Bank). 25,000 For Expenses (Cash). 12,000 Cash on Hand 1,600 5,600
  5. Q5 write short note on (any 3) :- (1: Stock and debtors Method,
    • 2) Consignee
    • 4) Tally
    • 5) Vouchers Types

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