No. of Printed Pages : 7                             ECO-2      BACHELORS DEGREE PROGRAMME                   Term-End Exam...
3.   (a) What is the difference between normal loss          and abnormal loss ? Give examples.        6+6     (b) What is...
(d)    An amount of Rs. 375 owed by Dinesh was            omitted from the schedules of sundry            debtors.     (e)...
(b)   Liabilities to be provided for are.          Rent Rs. 200 Salaries Rs. 300          Advertisement Rs. 50    (c)   In...
1.711.311.-2                             k-imen   wilt chi             sto-t                                             t...
(b)   .014i14i Tf— Ti                      t        ffreT4 t? z1Z-           rct,fl mcbik f r t?     r a-KR (51           ...
6.   7.7?.           Yes    -P:191 WI 31 Fi-cr       14-1, Tic► ii (gtoi   12        -1.-i ci tsid t I                    ...
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Eco 2

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Eco 2

  1. 1. No. of Printed Pages : 7 ECO-2 BACHELORS DEGREE PROGRAMME Term-End Examination . June, 2011 ELECTIVE COURSE : COMMERCE ECO-2 : ACCOUNTANCY-ITime 2 hours Maximum Marks : 50Note : Attempt any four questions, including question no. 1 which is compulsory.1. Answer any two questions from the following. 7+7 (a) What do you understand by Dual Aspect Concept ? Explain its accounting implications with examples. (b) What is Trial Balance ? Explain the various forms in which it is prepared. (c) Explain Bank Reconciliation Statement and its advantages. (d) What is Journal Proper ? State the transactions that are usually recorded in Journal Proper.2. (a) Differentiate between a Bill of exchange and a promissory Note. 6+6 (b) What do you understand by Matching Costs against revenue ? Explain the main implication of the Matching Concept.ECO-2 1 P.T.O.
  2. 2. 3. (a) What is the difference between normal loss and abnormal loss ? Give examples. 6+6 (b) What is Sectional Balancing ? How does it differ from self balancing ? Give proforma of a Total Debtors Account.4. Give journal entries for the following adjustments. 12 (a) Interest received in advance Rs. 60,000. (b) Interest on drawings Rs.12,000 (c) Provision for discount on creditors Rs. 2,000. (d) Loss of goods by theft Rs. 8,500. (e) Drawing of goods by the proprietor Rs. 7,500. (f) Out standing wages Rs. 3,000.5. The Trial Balance of Siva did not tally. The credit 12 side exceeded by Rs. 1455. This amount was entered in the debit column against suspense account and the Trial Balance was made to tally. Later the following errors were discovered. (a) Goods worth Rs. 1,250 were sold to Mahesh on credit. This was entered in the sales book but was not posted. (b) Goods worth Rs. 313 were returned by Ahmed. The amount was credited to his account but was not recorded in the return inwards book. ,(c) Manoj paid Rs. 670 but his account was wrongly credited with Rs. 607.ECO-2 2
  3. 3. (d) An amount of Rs. 375 owed by Dinesh was omitted from the schedules of sundry debtors. (e) The sales book was undercast by Rs. 420. Give journal entries to rectify the errors and show the suspense account.6. The receipts and payments account of ABC & Co. 12 is given below. Receipts and Payments Account For the year ending March 31 2009 Receipts Rs. Payments Rs. To Balance b/d 5000 By Charities 14500 To cash at Bank 2700 By Salaries 2600 To cash in hand 8000 By Rent & Taxes 1200 To subscriptions 4000 By Printing 300 To Endowment Fund 15000 By Postage 100 To Legacies 6000 By Advertisements 250 To Interest on Investment 9500 By Furniture 650 To Interest on deposits 150 By Insurance 1200 To sales of old news papers 75 By Investments 14000 By Advance for building 5000 By balance c/d cash at Bank 8000 Cash in hand 2625 50425 50425 Prepare the Income and Expenditure Account for the year ended March 31, 2009 after considering the following. (a) It was decided to treat one half of the amount received on account of legacies and donations as income.ECO-2 3 P.T.O.
  4. 4. (b) Liabilities to be provided for are. Rent Rs. 200 Salaries Rs. 300 Advertisement Rs. 50 (c) Insurance premium was paid in advance for three months. (d) Rs. 500 due for Interest on investment was not actually received.ECO-2 4
  5. 5. 1.711.311.-2 k-imen wilt chi sto-t trfta-IT 19. , 2011 Liickqgtoi : at ruNti :tv.Liq :2 Fir4 3TAIM777 : 50 : f WTT 71 fi:/7/ 5/q/ tLR1/ 1 31P-71 t 41. F-14--irciriAci T fwt 1;179 drit fiti7 I (a) c)t5Ichl 3TTeTRTTT 377 err 11:17c 1 ? 7+7 3q1kul Tirta. Tqk 71-7q d77 I (b) drl4z 3-Trcr cwit t? 7-4 cM4 f4517 chl ogRy41 W v, A - (c) ci-Trrqr9 -FT- { a--crr c4msql .ff2tr tzfr{ -9TiT cild (d) Tyro *i czNI t.? 71 onl-f 4 T§rr f zrr 31111t? - *2. (a) 7f 1 3t1 rclPP-1g f c 1 3-T7T -14-1*.iiw I — 7 d7T 4 6+6 (b) c114 Ic1 3-1TTP:f ff:f9T9 ch() TI1:17th t ?#FMN ti cI 4 11 t -TUT Firm21 •- 17T I d-3. (a) fii1ipl 11:1 ci ii 3171-m-FT dgmtui 6+6 Tlf0 c4iitsql IECO-2 5 P.T.O.
  6. 6. (b) .014i14i Tf— Ti t ffreT4 t? z1Z- rct,fl mcbik f r t? r a-KR (51 3ITMT ,TR4. 1:14-1FoRgo *11-1141s12 1111 .5Aftz (a) 60,000 T. f aTfaii ogiA rcheii (b) 3177IT TIT 044M Rs.12,000 (c) c;-tqlt. TIT all 31P:TY-ff 2,000 T. 4 (d) 8,500 T. W 4-110 TTEIT (e) 7,500 T. -k7P:11 "GM aTTFuf chql TIM I (f) TrAlt 3,000 T.5. Pia! t 1c 143 frrOF tr-gz -(Tki 1455T. 12 afq- - t i (IPI i tiOLIdt. e4Z1TaT 14 * tqA fir rgqi I ZUk 1:17- filF 41414i T TM 1011 4Tqs (a) 1250 T. f -44M. 4k1"). 34 fq- Fzt At t Lk% TW* 131491 1 I (b) 313 T. t1 TIM 3171:K "giTT J14ti rchtil TRIT 31:* tql 14 tea Reii Lit% rd---71 11:Rt ,46 Tefolgr 77 I (c) 4-1-11, A 670 T. 4 ii7177 ict)411 4t 3fic#11 tai ii 607 tw4 4 14 tea Rbtil TRfT I (d) 375 T. tt4 .4 r t I Litl dticbI TR alqIt..4. TO1 TTe TP411 (e) fdtli ts0 QS 420 tcLI Wrf 04INITFIT I 31:114ff aTVAA*13%/Rt A410 sirafi,d4WWiT derr dircl-cf A9TR IECO-2 6
  7. 7. 6. 7.7?. Yes -P:191 WI 31 Fi-cr 14-1, Tic► ii (gtoi 12 -1.-i ci tsid t I InfOrTRigr- rq-arraT d suf,IN 7* limn wf47 -5rn-rnrw tti 5000 .F 14500 lW tig 2700 td9. 2600 -.47*175f 8000 W{ c, 1- 1 f 1200 T 4000 S.941 W4 300 A*ellerf 15000 61q, 100 -aultrd Arm 6000 fq- 250 a la 41 TR allrf 9500 M9197 650 717 tii e4414 150 cl Hi 1200 r4 til-INK CA fay? 75 a Icis3i-f 14000 qff t oR aitll .1- 5000 ttT : Utri 8000 tcns* 2625 50425 50425 31 TIM 2009.0 7:1771 t4 a c) qT1* fr t aiFf ::(7 oldi -ii-1 .ii-ilq A-1. 0 tifTff ii tgt w{ cpit I (a) 7-47ff 7 . 17 31T71 Utz:4 W. alTtiT %TM 377 TET 4 tigiT71 ,Iwli I (b) 379 Tgq f*{TzTT 200 T., dal 300 T. f- - 1 - 44:17 Wzi 50 T. (c) 3 1 WT 414-11 mlriiqi-i WF alTAITT TIffIff rchtit :7 MT I (d) raPiti it TIT od-11, 31* 500T. 317f 317rTe FlECO-2 7

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