PGDCAA/DCA/CCA-02
December Examination 2016
PGDCAA DCA CCA Examination
Fundamentals of Accounting
Paper PGDCAA/DCA/CCA-02
Time 3 Hours Max. Marks 100
Note: The question paper is divided into three sections B and C. Write answers as per given instructions.
Section A 10 × 2 20
(Very Short Answer Questions)
Note: Answer all questions. As per the nature of the question delimit your answer in one word, one sentence or maximum upto 30 words. Each question carries 2 marks.
What is an Account?
Name the category of accounts that are balanced?
What is Compound Journal Entry? Give an example.
For what purpose is a 'Journal Proper' used?
State any two objectives of 'Financial Statement Analysis'.
Name the four ratios measuring 'Profitability'.
Define a 'Funds Flow Statement'.
(viii) Net sales during the year 2015 is 285000. Gross Profit is 25% of sales. Find out cost of goods sold.
485
PGDCAA/DCA/CCA-02 100 4 (P.T.O.)
PGDCAA/DCA/CCA-02 100 4 (Contd.)
485
What are outstanding expenses? What is its adjusting entry?
Give three examples of cash flow from Investing Activities.
Section B 4 × 10 40
(Short Answer Questions)
Note: Answer any four questions. Each answer should not
exceed 200 words. Each question carries 10 marks.
Write short notes on:
Cash Discount
Real Account
Ledger
Fixed Assets
What do you mean by 'Three Column Cash How is it
prepared?
What is a Trial Balance? Discuss the methods of preparation
of a Trial Balance.
What do you understand by 'Unearned Income'? How is
unearned Income shown in the Final Accounts?
Enter the following in Shri Ram's Cash Book:
2015
March 1 Balance of cash in hand Rs. 15000
March 8 Purchases goods for cash from X Rs. 3200
March 15 Sold goods for Rs. 4800 to Y
March 20 Received commission Rs. 650
March 20 Paid commission Rs. 550
March 28 Paid to Nath on account Rs. 7150
March 31 Paid salary to the office clerk Rs. 1000 and
paid office rent Rs. 600
PGDCAA/DCA/CCA-02 100 4 (P.T.O.)
485
What is meant by Financial Statement Analysis? Briefly explain
limitations of it.
Current assets of a company are Rs 900000. Its current ratio
is 3 and liquid ratio is 1.2. Calculate current liabilities, liquid
assets and inventory.
Explain the difference between:
Funds flow statement and Cash flow statement.
Funds flow statement and Balance sheet.
Section C 2 × 20 40
(Long Answer Questions)
Note: Answer any two questions. Each answer should not
exceed 500 words. Each question carries 20 marks.
10) Write short notes on: (any two)
Journal
Profit and Loss Account
Balance Sheet
Short Term Solvency Ratios
11) Give the names of main subsidiary books to record credit
transactions and also give the brief description of each
subsidiary books.
12) Give a specimen of cash flow statement as per accounting
standard using imaginary figures.
"Ratio Analysis plays an important role in the process of
decision making in business". Explain.
PGDCAA/DCA/CCA-02 100 4
485
13) Following are the Balance Sheets of a limited company as on
31st December 2013 and 2014.
Liabilities 2013
Rs,
2014
Rs. Assets 2013
Rs.
2014
Rs.
Share capital 54000 74000 Goodwill 3000 2520
Reserves 13000 15500 Buildings 50950 48000
P&L A/c 8600 8800 Plant 35000 43000
Bank Loan (long term) 25000 Stock 25500 18800
Creditors 28000 24000 Debtors 22000 16200
Bills Payable 8000 8500 Cash 150 180
Bank 2100
136600 130800 136600 130800
Other information: During the year 2014:
Dividend paid was Rs. 6000
Rs. 3600 was written off as depreciation on plant and
Rs. 2950 on buildings.
Profit on sale of plant was Rs. 3000
Prepare funds flow statement and statement of changes in
working capital.