6

Register Number : Name of the Candidate : 150

Adjustments: (a) Salaries outstanding (b) Closing stock

5 2 4 8
B.Sc. DEGREE EXAMINATION, 2012
( MATHEMATICS ) ( FIRST YEAR ) ( GROUP - B - ANCILLARY ) ( PART - III )

18,500. 30.

(c) Insurance prepaid was

(d) Depreciation of Furniture at 10%. (e) Bad debts provision on Debtors at 5%.

550. ACCOUNTANCY - I May ] [ Time : 3 Hours Maximum : 75 Marks SECTION A (6 5 = 30)

Answer any SIX questions. ALL questions carry equal marks. 1. Define accounting and state its functions. 2. What are accounting conventions? 3. How can accounts be classified? 4. Explain capital expenditure and give three examples for it. Turn Over

5. Write a note on Petty cash Book. 6. What are the causes for discrepancy between the balance as per pass book and cash book? 7. Define depreciation and mention any four methods of depreciation. 8. Write notes on : (a) Error of omission Sundry creditors Investments Salaries Sales Returns Printing and stationary Sundry Debtors Purchases Rent Carriage inwards Bad debts Postage and telegram Travelling expenses Cash at Bank Wages Insurance 6,000 16,700 1,800 5,200 240 31,000 72,000 560 390 160 210 550 3,270 1,300 220

and (b) Error of commission. 9. What are adjusting and closing entries in final accounts? 10. What is account current? Why is it prepared? SECTION B (3 15 = 45)

Answer any THREE questions. ALL questions carry equal marks. 11. How would you rectify the following errors? (a) 1,000 spent for repairs on building has been posted to building account.

(b) Goods worth 400 purchased from Shanmugam has not been posted in accounts.

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Interest is to be charged at 10% p.a. Find out the average due date and calculate the interest on drawings on 30.6.2011. 13. ABC & Co Ltd purchased a machine on 1 st January, 2009 for 60,000 and another st machine on 1 - July, 2009 for 50,000. On 1 st , July, 2010 the company sold the first machinery for 40,000. It was decided that the machine be depreciated at 10% per annum on Diminishing Balance method. Show the machinery account upto 31 st December, 2011. Prepare a Trading and profit and loss account for the year ending 31 st - March, 2012 and a Balance Sheet as on that date from the following balances.

(c) Purchased furniture for the personal use of the proprietor worth 2,000 debited to furniture account. (d) 10,000 paid to a Siraj for salary debited to his personal account. 500 to Charles was not posted to his account. 1,000.

(e) Discount allowed

(f) The sales book was over cast by

(g) Sale of goods 5,000 to Nathan was debited to Balans account. A partner has withdrawn the following sums of money during the half year ending 30th June, 2011. January, 15 February, 10 500 400 700 800 1,000 900

Capital Sales Purchase refunds Opening stock Furniture and Fittings

52,000 1,01,000 1,900 22,000 5,500

March, 12 April, 5 May, 20 June, 18

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