e-year Degree Course) (New Course) (Group-B) FINANCIAL ACCOUNTING Paper-I Time : 3 Hours ] [Maximum Marks : 100 __ Note :- Attempt all Sections as directed. | ftager wh edi Sax cif Section-A (%]@Ug-31) Long Answer Type Questions 20 each (att srt oA) Note :— Attempt all the three questions. aut da wei & ar cfs S-210 aa) —that in the tas = rem = rent of that year will be reduced to was a strike of one month in year 2012. necessary accounts in the books of Ashok. 54748 sis 4 amfsaa aed fa. & we wae UH We mw oe se frase cera A =a few =F 50,000 afte ws wr stk weet at a 50 Fa out a Reikt el seis st ae after fet vw fe ae ama a asf F ager uf si age at waa %, tie ae fet at st aepl ayer uit sat de amt af 4 agg wei tant %, dt tt fen ag waar uf & 30% HI age Se aH after aa @ oem! eet (433) rerearies at Gert 3 faecrt afer a fare vfafeat dif us stays ward wifi _ Mohini Ltd. purchased three Jeeps costing & 2,00,000 each from Gupta Motors Ltd. % 1,20,000 was paid immediately balance of amount was to be paid in . three annual instalments with interest @ 12% pa. Mohini Ltd. charges depreciation @ 20% b diminishing method. Mohini Ltd. paid its instalmen at the end of Ist year 2011, but it could not pay IInd instalment. Gupta Motors agreed to leave or S-210 (45)the b a3 4 da Sti ya =F 2,00,000 gy caf as aan aif fot 12% afi afer ert ef aifet fe. sist wz 20% St at A HAP aa wait A wa cnt t) yam wt 2011 F ara A fee arya ae fear, Siar ae ome feet at qa 7 aK wath yen Hed fa. sad oa we os set wan ws a si F qe aw ta af a marifad aa aH fee aera a wei Ea wera fey itt ar yeaa warms Bs Tele EMI 30% anften Ga a sree we feat 7M Met fates at geet Fa asi A sravan ue RT| S-210 (5) Tum OverS-210 (6) peathoomssets? furniture & 1,000 (realising value 30%), Z 5,000 (realising value 60%) were included. His liabilities were of % 30,000, out of these, liability of — Z 2,000 was fully secured by machinery and a liability of = 500 was partly secured by the furniture. id estimated : He applied for being insolvent an deficiency of % 15,000 with considering the following _ wa FF i items : Salaries of four clerks & 1,300, Wages of four workers % 500, Rent of 3 months due to landlord = 300, Income-tax & 300, Sales tax = 100, Managers salary _ % 2,000, Compensation due to an employee under Workers’ Compensation Act ~ 400, House tax 4 Ma = 100. e | ad Prepare statement of Affairs and Deficiency A/c.faint % 100, wat a Aq F 2,000, we atant al afeyid afufraa A seria ea uf =F 400, qene = 100: | sadat fram @ suet feafa-fram w at ua | SEU! 5: What is meant by Departmental Accounts ? What are the advantages of keeping departmental records ? What are bases of apportionment of indirect expenses while preparing the Departmental Accounts. faurta at a ara aa aaa & ? fauria aa Tar a ah-aira cy da & 2 faaria aii a da at ara aya ert an azarae fea-fer stet ae Sat 3? S-210 (7)to Lucknow Branches wholesale price. From the following particulars find out profit earned by Head Office and Branch during 2012 : age Head Lucknow Office Branch — Stock as on Ist Jan., 2012 25,000 - : Purchase 1,50,000 = Goods supplied to Branch 54,000 - ‘Sales 1,53,000 50,000 Stock as on 31st Dec. - - Goods is sold by H.O. at wholesale price and branch sells the goods to customers only. S-210 (8)25,000 1,50,000 eel aret Serr fae 54,000 = | et 1,53,000 50,000 31 fae at TehT = = “ ae araies grr die aes x fama fear sia & aie Ural Hae West Bl A Sait F1 Section-B (aug-a) Short Answer Type Questions 6 each (aq sata we) 4 Attempt any five questions : | fart uta wet a oe che: -210 (9) ruilTHe TM 30% oT ate af wt fof = fast z 153,000 1 safe se Saft FI Ha F 1,03,500 om afrgt wet a @ a4 st uf aa ifs | _ (Vii) The ship Jaltarang commenced a voyage on : Jan. 1, 2011 from Mumbai to Toyko and back. The voyage was completed on 28th Feb., 2011. It carried the consignment of tea on its outward journey and of what on its return journey. The ship was insured on an annual premium of % 30,000. Prepare voyage account fromethe, following particulars : -210 (11) Tun overDep. for the period of journey Stores issued ‘54,000 Interest on Advances 3,000 a Freight earned (Outward journey) 1,20,000 ee Freight earned (nward Journey) 1,00,000 Passage money received 6,000 Primages is 5% on freight. Manager is entitled to 10% commission on the profits earned after charging such commission. Stores and coal on hand worth % 10,600 on 28th Feb., 2011. Address commission on outward freight is 5% and 6% on inward freight. $-210 (12)5. Answer all questions. Choose the correct answer among the four alternatives of each question. wa wet S om tfc) wie oer @ aR freed a Some a wm qa site, (i) Rebate on Bill discounted for a Banking Co. ses (a) An Expense (b) An Income © A Liability @ A Non-banking Asset S-210 (14)For a General Inst premium is : = (@ An Income (6) An Expenditure _ or An Asset @ A Liability te aa star wert B fee gaint Mitra & : (3) TF FA (3) =a ¢ () Ge waht (&) ue afar | ra (iii) The Fire Purchaser charges depreciation on : a os! (a) Cash price of the Asset (b) Hire purchase price of the Asset (c) Higher of the above two ig (@)_ Lower of the above two fe. foun Sm waht wa cM e : P (a) waft FS Te AI KR (a) wate & fect ma A TK (@ ai 48 Tt ate K ®) Aaa TAR -210 (sgThe main objective of Average clause is : 4 (a) Encourage under insurance... oes sag (b) Encourage full insurance (c) Discourage the overinsurance | (d) Discourage full insurance 1 4 ST a am Awe stra Z : 4 4 (8) oa ot at tive aor " : —@) pi at at seater oT (@) aft ahr at adenfea eer (3) wt dt a adeiea aor S-210 (16 )