Seat Number cmR- 026

ITIIIIJ 11111\1111111
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A 1.4
Fundamentals of Accounting (New) (June 2017)
(71104)
P.Pages: 2
Time: Two Hours Max. Marks: 60

Instructions to Candidates:
1. Do not write anything on question paper except Seat No.
2. Graph or diagram should be drawn with the black ink pen being used
for writing paper or black HB pencil.
3. Students should note, no supplement will be provided.
4. Solve any three questions from Section - I & any two question from
Section - II.
5. Use of simple calculator is allowed.
I

SECTION -I

1. Trial Balance of Rawal showed a excess credit of Rs. 1020 which was 12
transferred to the debit side of suspense account. On scruting following
errors were located. Pass only rectification entries.
a) Total of purchase book was overcast by Rs. 2,000.
b) Purchase return book has been overcash by Rs. 750.
c) Salaries paid Rs. 4,500 has been posted to salaries account as
RS.5,400.
d) Paid Rs. 7,250 to Monali has been debited to Deepali's Account.
e) Bad debts recovered Rs. 2200 has not been posted in Cash Book.
f) Paid wages Rs. 7700 by Cheque was not recorded at all.

2. Journalise the following transactions in the books of Mr. Arjun. 12

01/06/2017 - Mr. Arjun started business with Cash Rs. 4,00,000

04/06/2017 - Purchased goods from Ratnesh Rs. 40,000 on credit.
08/06/2017 - Paid wages by cheque Rs. 2,000.
10/06/2017 - Sold goods to Rajan Rs. 60,000 on credit.
12/06/2017 - Paid to Ratnesh by cheque Rs. 30,000.
15/06/2017 - Received bearer cheque for Rs. 50,000 from Rajan.

3. Journalise the following transactions in the books of Mr. Karan. 12

01/05/17 - Paid into SBI Rs. 50,000

04/05/17 - Goods worth Rs. 2,000 burnt by fire.
08/05/17 - Paid house rent Rs. 4,000.

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15/05/17 - Bought goods on credit from Raj Rs. 10,000 at 5% trade

discount.
20/05/17 - Paid cash Rs. 9,400 to Raj in full settlement.
25/05/17 - Paid for postage Rs. 5,000.

4. From the following transactions prepare necessary ledger accounts in the 12

books of Mr. Ram and balance them.

01/04/17 - Started business with cash Rs. 20,000 and Machinery

RS.40,000.
05/04/17 - Cash purchases Rs. 6,000 at 5% trade discount.
08/04/17 - Paid wages Rs. 1,400.
10/04/17 - Cash sales Rs. 12,000
15/04/17 - Paid to Ajay traders Rs. 6,000.
18/04/17 - Open bank Ale. in SBI by depositing Rs. 2,000.

5. Record the following transactions in simple cash book of Mr. Prem for the 12
month of June 2017.

01/06/17 - Started business with Cash Rs. 40,000.

04/06/17 - Open Current Account with bank & deposited Rs. 20,000
Paid telephone bill Rs. 2,000.
08/06/17 - ,
101.06/17- Sold goods for Cash Rs. 5,000
12/06/17 - Received dividend Rs. 1,000
18/06/17 - Paid electricity bill Rs. 2,000.

SECTION .11

Explain objectives and scope of financial accounting. 12

6.
. .
Explain concept, objectives and scope of Auditing Standards. 12
7.

Write short notes any two. 12

8.
a) Advantages of Internet Banking.

b) Types of Cheques.

c) Types of Accounting.

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