VIJAYAM JUNIOR COLLEGE :: CHITTOOR

JUNIOR MEC II TERMINAL EXAMINATIONS

DATE:01-10-2018 COMMERCE MARKS :100 TIME :3Hrs
I ANSWER TWO OF THE FOLLOWING 2X10=20
1. Define a joint stock company and explain its characteristic features.
2. Explain the contents of a Memorandum of Association.
3. What do you mean by Equity Shares? What are its merits and demerits.
II. ANSWER FOUR OF THE FOLLOWING. 4X5=20
4. What are the contents of Articles of Association?
5. What is the need for Business Finance?
6. Distinguish between Equity shares and Preference shares.
7. What are the differences between Shares and Debentures?
8. Explain different types of Debentures.
9. Explain different financial resources available to Indian business men.
III. ANSWER FIVE OF THE FOLLOWING. 5X2=10
10. Statuary company. 11. Minimum subscription 12. Certificate of Commencement of
Business 13. Statement in Lieu of Prospectus. 14. Fixed Capital 15. Retained Earnings.
16. Commercial Banks
17. State Financial Corporation. 18. Global depository Receipts.
IV ANSWER THE FOLLOWING. 4X5=20
19. What is the concept of accounting? Describe the major concepts in the accounting
20. Explain the Double Entry System and its advantages
21. From the following particulars prepare Subsidiary books.
2016 Rs.
Feb 1 Sold goods to Aparna Kapoor 20,000
2 Goods sold to Akshitha Mohadwani 30,000
3 Sold goods to Aradhya Bhachan 45,000
15 Purchased goods from Anitha Chowdary 34,000
20 Sold goods to Apurva Reddy 43,000
28 Purchased goods from Avani Dixit 56,000
22. Enter the following transactions in the proper Subsidiary Books.
2014 Rs.
March 1 Purchased from Ravindra 4,000
2 Purchased from Patel 3,500
4 Sold goods to Mohan (Trade Discount 5%) 5,500
5 Purchased from Ramu 4,200
7 Returned goods to patel 200
8 Goods returned by Mohan 100
10 Sold to Sridevi Stores 2,000
11 Sold to Rajya Lakshmi stores 1,000
13 Returned goods to Ravindra 400
15 Bought goods from Srikanth for cash 5,000
V ANSWER THE FOLLOWING 2X10=20
23. Prepare Triple Column Cash Book of Kalyan from the following.
2018 Particulars Rs.
April 1 Cash Balance 28,000
Bank balance 30,000
5 Cash sales 5,000
6 Paid into Bank 25,000
8 Received cash from Mohan 2,000
Cheque 2,900
Full settlement of 5,000
10 Cash withdrawn from bank for office use 2,000
18 Bought Machinery paid by cheque 10,000
21 Received commission 800
25 Cash purchases paid through cheque 4,000
30 Paid to Vardhen by cheque 7,900
(in full settlement of Rs.8, 000)
24. From the following information, prepare a Triple column Cash Book.
2017 Particulars Rs.
March 1 Cash in Hand 5,000
Cash at Bank (Overdraft balance) 8,000
2 Received a cheque from Anand 9,000
Discount allowed 100
4 The above cheque was sent to the bank
Cash paid to Siva Ram 500
5 Received a cheque from Mr. X 6,000
The cheque was sent to the bank on the same day.
Discount allowed 3,000
8 Draw a cheque for office use 5,000
10 Cash sales 1,000
12 Draw a cheque for personal use 2,000
13 Mr. A directly deposited a cheque into the Bank
14 Received a cheque from Mr. Y which was deposited
in the bank on the same day. 8,000
22 Bought furniture 2,000
25 Cheque received from Mr. Y was dishonoured by
the bank
30 Cash remitted to the bank 1,000
VI. ANSWER FIVE OF THE FOLLOWING. 5X2=10
25. Explain Debtors and Creditors. 26. Explain Real account with example. 27.What is Credit note
28. Overdraft 29. What is contra entry? 30. Imp rest System
31.From the following information. Write down the opening entries in the books of
Narayana as on January 1st 2018.
Cash in Hand - Rs.4, 000 Cash at Bank – Rs.13, 000 Loan from Ramesh & Co. – Rs.6, 000
Furniture & Fixtures – Rs.6, 000 Sundry Debtors – Rs.20, 000 Sundry Creditors – Rs.11, 000
Stock – Rs.27, 000
32. Write-up the opening entries in the books of Ravindra as on April 1 st, 2016 from the following
information.
Cash in hand – Rs.2, 000 Stock – Rs.10, 000 Bills payable – Rs.4, 000
Sundry debtors – Rs.24, 000 Sundry Creditors – Rs.10, 000 Cash at Bank – Rs.14, 000
Machinery – Rs.12, 000 Furniture – Rs.1, 000 Bills Receivable – Rs.6, 000