DISTANCE EDUCATION
B.C.A. DEGREE EXAMINATION, DECEMBER 2017.
ACCOUNTING FUNDAMENTALS
(2003 onwards)
Time Three hours Maximum 100 marks
Answer any FIVE questions.
All questions carry equal marks.
x 20 100)
1. Briefly explain the uses and their need for financial
Accounting.
2. Briefly explain the various accounting concepts.
3. Explain the different kinds of errors.
4. What are the advantages of Trial Balance? Explain its
importance.
5. Prepare the necessary Journal entry in the books of
Maharajan.
April 1 2016 Maharajan commenced business with
cash Rs. 1,00,000
2 Purchased goods for cash Rs. 70,000
3 Purchased goods from Devi Co
Rs. 80,000
4 Purchased furniture Rs. 30,000
Sub. Code
15
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WK 6
5 Withdrew cash for private use Rs.10,000
9 Paid Devi Co Rs. 40,000
9 Cash sales Rs. 40,000
15 Sold Goods to Rajan Co Rs. 75,000
20 Purchased Goods from Sami Co Rs. 1,20,000
30 Paid Salary Rs. 34,000
6. From the following details calculate
Gross Profit Ratio
Net profit Ratio
Stock Turn over Ratio
Debtors Turnover ratio
Rs.
Sales 1,50,000
Cost of goods sold 1,20,000
Opening stock 29,000
Closing stock 31,000
Debtors 15,000
Administration expenses 15,000
7. The following Trial Balance has been extracted from the
books of Baskar on 31.03.2016
Trial Balance
Debit Credit
Rs. Rs.
Machinery 40,000
Cash at Bank 10,000
Cash in Hand 5,000
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Trial Balance
Debit Credit
Rs. Rs.
Wages 10,000
Purchases 80,000
Stock (01.04.2015) 60,000
Sundry Debtors 40,000
Bills Receivable 29,000
Rent 4,000
Interest on Bank loan 500
Commission received 3,000
General expenses 12,000
Salaries 7,500
Discount received 4,000
Capital 90,000
Sales 1,20,000
Bank Loan 40,000
Sundry Creditors 40,000
Purchase returns 5,000
Sales Returns 4,000
3,02,000 3,02,000
Adjustments
Closing stock Rs. 80,000
Interest on Bank loan not yet paid Rs. 400
Commission received in advance Rs. 1,000
Prepare Trading and Profit and Loss Account and
Balance Sheet as on 31.03.2016.
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8. From the following details prepare Trading and Profit
and Loss account for the period ended 31.03.2016 and
Balance sheet as on that date.
As on 1.4.2015
Rs.
As on 31.3.2016
Rs.
Stock 50,000 25,000
Sundry debtors 1,25,000 1,75,000
Cash 12,500 20,000
Furniture 5,000 5,000
Sundry Creditors 75,000 87,500
Other Details Rs.
Drawings 20,000
Discount received 7,500
Discount allowed 5,000
Sundry expenses 17,500
Cash paid to Creditors 2,25,000
Cash received from
debtors
2,67,500
Sales returns 7,500
Purchase return 2,500
Cash sales 2,500
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