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BCom SY BCom Sem 3 BCom Sem 3 (2016 2017) Sep 2017 ACCOUNTS Question Paper - Mumbai University | munotes

BCom Sem 3 (2016 2017) Question Paper, Sep.pdf
SY BOCM · 488 KB · 1 May 2025

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Questions asked in this paper

  1. Q1 A. State whether the following statements are True or False (any 8) 8 marks
    • i. On Amalgamation, Old firms are dissolved
    • ii. Computer cannot copy or repeat the same information very fast and
    • iii. Credit note is raised where there is purchase return to supplier
    • iv. Income received in advance is a liability,
    • v. Balance sheet is an account
    • vi. Under piecemeal distribution asset realize gradually
    • vii. Maximum foss method and excess capital method both are same
    • viii. | Goodwill is an intangible asset
    • ix. The Indian Partnership Act is in force since 1956
    • x. AS with amalgamation of Firm Match the following pairs (any 7) 7 Marks Indira & Neha are partners. There final balance as on December, 2014 was as Trial Balance As On 31" December 2014 Stock on 1-1-2013 66,000 Postage 1,200 Bills Receivable 2,700 Debtors and Creditors | 1,05,600| 96,300 Purchases and Sales | 2,85,000 | 453,000 | Furniture 36,000 9,000 3,000 | Cash in Hand 14,700
    • (1) The Closing Stock on December 2014 was valued at Rs. 94,000
    • (2) The outstanding expenses were : (a) Wages Rs. 3,000 and (b) Salaries Rs. 2,000
    • (3) Goods of Rs. 3,000 were distributed as free samples
    • (4) Interest on partners’ capitals was to be provided at 7% p.a
    • (6) Depreciation was to be provided on furniture at 10% and on machinery at 5% You are required to prepare a Trading and Profit & Loss A/c for the year ended 31 December 2014 and a Balance Sheet as on that date
  2. Q2 Following is the trial balance of Anand Bharat & Chetan on March 2012:
    • i. On 1" October, 2012, Chetan was admitted, who bought Rs. 20,000 as his capital and also bought Rs. 5000 for his share of Goodwill = Anand & Bharat were sharing Profit & Losses as 3:2. After R’s admission they shared profit & Losses in 2:1:1
    • ii. The sales from April 2012 to 30" Sept. 2012 were Rs. 93600
    • iv. The purchases from April 2012 to 30" Sept. 2012 were Rs. 35,000 Depreciate Building @ 5% p.a. and Machinery @ 10% p.a
    • vi. on Capital to be allowed @ 10% p.a
    • vii. Closing stock Rs. 4,000 on 30" Sept., 2012 and Rs. 7,000 on 3 1* March 2013 You are required to prepare Partnership Final Account for the year ended 31"
  3. Q5 the method of Creation of vouchers in Tally? 8 marks
    • B. What are the advantages of computerized accounting system? 7
  4. Q5 Write short notes (any 3) 15 marks
    • i. Creation of Cost Center and Cost Categories & their Advantages
    • iv. Profit & Loss Appropriation account in partnership final account

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