PATTAMMAL ALAGESAN COLLEGE OF ARTS & SCIENCE ATHUR, CHENGALPATTU.

603101

2nd INTERNAL ASSESSMENT TEST SEP-2018

CLASS:II BCA SUB: FINANCIAL A/C DATE:26/09/18

SUB CODE:SBZ3C Max Mark: 50 Duratiion: 2 Hours

PART –A (Answer any Four questions) 4*5=20

1. Difference between single entry and double entty system.

2. Find out profit from the following data. Rs
Capital at the beginning of the year 8,00,000.00
Drawings during the year 1,80,000.00
Capital at the end of the year 9,00,000.00
Capital introduced during the year 50,000.00
3. Calculation of new profit sharing ratio and sacrificing ratio.

X and y are partners in a business sharing profit in ratio of 5:3 they decide to admit z into the
firm giving him 1/6 th share. Calculate the new profit and sacrificing ratio of the partners.

4. On 1-1-86 A purchased machinery on hire purchase system. The payment is to be made Rs.4,000
down payment. And Rs. 4,000 annually for three years. The cash price of the machinery is
Rs.14,900 and the rate of interest is 5% calculate the interest in each years instalment.
5. Distinction between hire purchase system and instalment systems.
6. Mention any five contents of a partnership deed?

PART-B (Answer any Three Questions) 3*10=30

7. Prepare a bank reconciliation statement from the following data as on 31/12/1995
(a) Balance as per cash book Rs. 12,500
(b) Cheques issued but not presented for payment 900
(c) Cheques deposited in bank but not collected 1,200
(d) Bank paid insurance premium 500
(e) Direct deposite buy a customer 800
(f) Interrest on investment collected by bank 200
(g) Bank charges 100
8. X and Y are partners with capitals Rs. 60,000 and 20,000 respectively on 1st jan 1989 the trade
profit for the year ended 31st Rs. 24,000. Interest on capital is to be allowed at 6% per annum. Y
is entitled to a salary of Rs6,000. Per annum. The drawing of the partners were Rs.6,000 andRs.
4,000 the interest for X,Y Rs.200,100. Prepare the profit and loss Appropriation A/c and partners
capital account.
9. Explain the method of preparing B.R.S
10. How do you deal with the following partnership accounts.(a) interest of capital (b) interest on
drawing .