BCom Environmental Management SEM I 2019 2020 Nov 2020 ENVT. MGT FINANCIAL ACCOUNTING Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 From th. following transactions prepare necessary ledger accounts in the Books & Mr Ram an: balance the same. (15) 2018 1. Started business with cash Rs.8000
   • 4. Purchased goods on credit from Mr.Deshmukh Rs.3000 at 10% T.D
   • 6. Cash sales Rs.4000 at 5% C.D
   • 20. Credit sales to Mr. Rahim Rs.2000
   • 22. Paid cash to Mr. Dev Rs.2700
   • 31. Withdraw cash for personal use Rs.2000
2. Q1 following transactions pass necessary journal entries. 2018M -ch 1. Shri Amit started his business with cash Rs. 81,000 Building 15 marks
   • 4. Paid cash into Bank Of India Rs.90,000 Purchase furniture from Maya and issued him a cheque Rs.6900
   • 7. Credit purchases from Shinde Rs.15000 less 4% trade discount
   • 11. Credit sales to Ashok Rs.3000 less trade discount 2%
   • 12. Ashok returned goods of Rs.294
   • 19. Sent a telegram of Rs.30 to Shinde to supply goods of Rs.7500 Purchase computer & printer of Rs.25000 from kewal and in part payment gave him cash of rs.15000 Paid life insurance premium on life of Ameya of Rs.3000
3. Q2 New Tr: company, Mumbai purchased machinery for Rs.90,000 on Apri! Ou 1* Oct 2016, additional Machinery was purchased For Rs.60,000 on oct .he sold the machinery purchased on 1* oct2016 for ion is to be charged at 10% p.a. under straight line method on 31“ march every Prepare y account and depreciation account for Three Year i.e. 2016-17, 17-18 15 marks
4. Q2 State ther the following expenditure is a capital or revenue expenditure. Give rea ons 15 marks
   • 1. t duty on Raw material purchased expenditure incurred on advertisement
   • 4. Furn ure worth Rs. 19000 destroyed by fire which was not insured
   • 5. invested in a government loan
   • 6. Cos fconstruction of building
   • 7. Rs.2200 was spent on painting the new factory / Amar has the following ledger balance as on march2018 Pur. Of matevial Investmen 10900 Freight on Stock on | Repairs &
   • F. Gen. Expenses The foll ving information is available:
   • 2. Dep. ciation to be provided at on factory shed 10% on machinery and 15% on
   • 3. Rep: Rent and taxes are to be apportiuned factory and office in the 4, ve for ban and doubtful debts to be provided at 4% on debtors
   • 5. Insu premium covers a period of one month in advance You re required to prepare manufacturing, trading & profit & loss account for the year 3! 2018 and balance sheet as on that date
5. Q3 From th following details for the year ended march 2018. Prepare manufacturing trading profit & loss account of m/s Rahul: (15) 75,000 Salary of works of Raw Office salaries ims 4000 On plant nward | On factory shed On office furniture Deluxe purchased a furniture worth Rs.80,000 on 1* April 2009 and (15) furniture on oct 2009 worth Rs.60,000 charged depreciation at 15% p.a. on fixed installment basis oct 2011 they sold out furniture for Rs.60,000 which was purchased on 2pare furniture account & Depreciation account for the year 20019-10, 2010-11 d 2011-12, assuming that the financial year closed on 3 1* march every year
6. Q4 ‘Trial Balance as on mar 2018 from the following balances extracted form
   • A) Expl Meaning Accounting policies and state need of accounting policies. 8
   • B) Accounting? Mention features of Computerized 7
7. Q5 t Notes on. (Any 3) 15 marks
   • 2. Impor! of Computerized Accounting System
   • 3. uish Between Book Keeping & Accountancy

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