woo'ouTTUOAARp Manay//:dany 149 ACCOUNTING GROUP See ee : er ator Paper T: Financial Accounting ‘Time 9 Hours) (Max, Marks : Regular 40/ Private 50 (Min, Marks : Regular 13 / Private 17 meson A: and C are compulsory for al Reewei ond Private students, Please follow the question ge vee J cach section, Marks distribution ieee ee ees as shown in anestion Paper. The blind candidates will be given 0) wiowen ene WE H : REGIE Section A: Objective 1. Qube 8 anne . Regular Sxl=6 / Private 5x1=6 (9) eure ©) wre aE ae (© Business () None of these, 2 we Pass ve ay Bee aftr ey is 20%, the amount of gross profit on a turnover of Rs. (a) Rs, 40,000 «) Rs. 80,000 (© Re, 60,000 (@) Re. 1,00,000, 3. yeah ara & (3) mene are (@) ares ert (8) sree ara ©) waa aera) Land-Lord Account is @ (@ Personal Ale (b) Real Are (© Nominal Ale (2) None of these. 4. feat sie ot oar A ort (21) ga Po (2) mae Pah oe (8) sere ft ae @) wR a RE ae | Del-Credere Commission is valculated on : (a) Total Sales (b) Cash Sales (c) Credit Sales (4) None of these. 5. Sy aes ea ARE Me eg i Rr 8 2g Bh 1 ty en see x.y and 2 share profit in the ratio of 1/2, 3 and 1/6, z dies. New Ratio of x and y will be : (a) 3:2 (b) 2:3 fo) 2 (@) 10:11 WE Ws BY Tree Section B ; Short Answer 1, Rar AY geet Pre aa-2at A era Rat Ag Journalise the following transactions in the books of Dinesh : 2018 Regular 53-16 / Private §x3=15 wrt Re. SAE 1 Febrasry 1 doy & auere so Fat (Business started with cash) 75,000 ea 7 February 7 ewe wre wet (Purchased goods for cash) 10,000 Fa 9 February 9 eat st gure ata Bar (Sold goods to Swati on credit) 5,000 weet) 12 February 12. wre ae wer (Purchased furniture for each 3,000 BE 18 February 18 weft & se aT (Cash received from Swati) 5,000 ‘ee 19 February 19 eae Yarar (Paid rent) 1,000 orret OR s fafire ster ger war & ? What are Special Purpose Books ? WOd'auI[UOAARp MAAL//: CNY2 dard ? ing Stand cetivas of Accounting 2. Rater sou IF var gem # ? What ar the obi . a tr ae Fe 1 ratios: cot ge at segue PATA mutual 3 ‘Foti rex Rae A, Bate C8 BER BF ATT rowing are . A,B ond C are threw dopmrtments of « dopa fr (Departments) A a 1 a ’ (At ager Bates Ration : 3 4 ii) afar argue (Employees Ratio) 4 ? 1 (Gi) ee orga (Purchase Ratio} a 1 1 Gs wih a Space Opie) (a) Paar ae (Advertisement Expenses) Rem (2). dem (Salary) he 900 (8) Arver en) dove expandvane in three departments. “f airéerr afore | Allocate the above expen he a a Rt ane re ae vant Ret? 3. stare sr tte Prd af aer are & ? What isthe difference betwe wet OR aoc are fee, ce ae rata Rercot at ote rar Ta rrepare a Receipt and Re twine pects lon fom te Caan Be of Sy Chi, Pat, PPA fate at (Sundry Expenses) safer were hag (Closing Cash in Hand) 20 4. ger coer ant aarey | State the advantages of Joint. Venture. =z s Payments Account: ea) > sireftrs ty : (Opening Balance) 100 z ern Oe (Cash in Hand) a g eH they Cash at Bank) 5 x ar (Subseription) 3,300 a rt (Donations) 360 2 Prder wer investment Purchased) 41,000 2 fram far (Rent Paid) 400 g ‘woe 2 (General Beponses) 210 — aw are ote arr eft (Postage and Stationery) 70 > 30 & 3 g 5 saa OR 1G 2017 A ster & 100 wet art 25,75 TTT 140 we a EB eater ae Rt EL EC 2a 30 fee ae 31 at Yt a 2 8 | ater a ger # as & ones 2 A | On Jet ay, 2017 A purchased from Mohan 25, 7% Debentures ofRs, 100 cach @ Re. 140 cach cum-inerest Intorest is payable on these dobuntureson 30th Soptombor and Sei March sch nore Tae Jovrnal Ents in the booke of Mohan, sear. Page the neceaeary 5. ener wf fer Aer ota Ht ac? Under what circumstances Partnershp Firm is dissolved ? smrar OR Aa Ba cat aah # | 8 oe erat or eae ch eer oF AL apr area 1 site, 2017 Fear | eas 31 ar, 2017 4 Prmifea rd ‘wet Fr Ae een stl traders. They decided to amalgamate their business and to do busin pacieshin om Ap 1 S01, Them sued as AB, Tht Basse Shea a yin ener were as under . AW RE (A's Balance Shect) mt Rs.) Bre (Creditors) 10,000 whx6 eMac wt (Rs) $4 Capita 3,000 ee Sick) 20,000 UM (Debtors) 40,000, aay Cun 5,000 0 5,000 ~ 30,000 WOd'auI[UOAARp MAAL//: CNYwoo'ouTTuOAARp Mana//:dany 3 149 Bo ART (B's Balance Sheet) fre Bs Ba ws) are Wreditors! 10,000 ayfrrft (Machinery) 18,000 HA Capital? 35,000 el (Stock) 12,000 rem Debtors) 8,000 t re (Cash) =2.000 j oH 5,000 einer BHAT A Alief [Gy Brat OME 10 nee | (3) seh 8 fst ye se 8 207 eS ee TT | (a) Se REP gee ARES LOK a I Rat 77 | () See RET LOT ET ee Brat aT | saci n Raw otter & arc ay | Follanae dccisions were taken in connection with amalgamation ‘a) Bad Debts on Debtors were assumed at 10% tb Machinery was valued at 20% above book value, ve! Stock a valued at 10% less than book value. 1d! Creditors were valued at 10% | { % less than book value. | Prepare Balance Sheet of new fi E | im after amalgamation, hitp://swww.davvonline.com we w: dh Tate Section C: Long Anewer Regular 5x4=20 / Private 6x6+80 Lat SS, 2017 em Ba a she sare ac Par ene Prepare Final Accounts of Gaurav. Provisions for the year ‘ending at 31 March, 2017 from the following: wa (Rs) ‘ert (Rs) ut Pit (Purchase and Sales) + 70,007 82,500 Fra amit (Sales Returns) 505, - ‘situs Bad Debts) 300 - ‘BW Depreciation) 1,800 - GIPT air (General Expenses) 700 ~ afew sod wraurt (Provision for Bad Debts) ~ 1,200 ‘tea (Salaries) 3,000 ~ EH iCopita - 55,310 ‘Oss Cash) 8,708 ~ Sere et SC (Debtors and Creditors) 21,300 20,625 ‘Tint Furniture) 4.500 ‘sew TA (Outstanding Iz (Plan) are wear (Opening Stock) mamta (1) SRT ea 21,499 wr (2) 4, “Sie ea ae et te RTE 1,000 Br ARE 1 (4) 2000 8048 Reo | Adjustments {1 Closing Stock Re, 21,499 (2) Credit purchase of Rs. 4,200 has not been recorded (3) Write-off ‘Rl fr Bad Debts and make n provision of Rs 1.000 fr Bet rs Doubtful Debts (4) Purchase of omiture of Re, 2.000 has been wrongly recorded in Purchase Scat srt OR een ae urTEe H sine wT | Distinguish between Journal and Ledger, feet Ru # aores at Farr & Rear RETR | ‘Diacuse the principles of slocation of indirect expenses in Departmental Accounts : eT OR Woo'aul[UOAARp MAAL//: CNYwoo'ouTTUOAARp Manay//:dany -=the Rule in Gamer Vs. afurrae 4 i cara egg {ere 309 Fre ct sh Seton, Prope rh Rv Ge los Pe each mates ot "san face Particulars) ee sms tft (Opening Stack) m0 arene ec OFF (Opening Potty Cash) 48,000 rad wre tr (OutotandingSwlery fr Previous Year) se.s00 rar at Sorta (Goods sen to Branch) 375 sre ft (Cash Sales! 7 se Oy et Cash rn apne) ie ‘ey W FET He (Closing Balance of Petty Cash) ara vetore ST erm nf By hee Wh Coho ek tem eso et mg 08 25% rH gnc et eA | OS Pe. wa e 8,000 pre 4 Glsing Stock fins not bon ascertained. Manager. ges commission charging auch commission. Branch sells goods afer adding 25% prot © st oe 3. her 9 20-08 & ig we are age we AT | se TER A ee 1 ever aft eS OU me ae se ya 9 are @ | Bre a Pret 4000 27 so a rw rg ae cfr AY et ORE TE yi OY OS ft Shree ae gre Prot sites ett awe a ae auf er er 50% OE TT fre seer rar abr perc ater A geet Heat rar Rare org a rent is BS SONS 7000 27; 7500 a7; sz 9000 24 8 1 Minin Phan 4000 Mohan took mine on leae for 20 years, Rate of Royalty is Re, 1 per ton- MITE jess thi sed for per year. Short working of that year wili not be rozouped in which yield cose will O° hon nd the year which royally wil be more Shan minimam runt, ony 20% of Ste 0 ecoupment of shortworkings, Prepare the Land-Lord Account in the books ©) 0%ton, veld for first four years respectively is 3600 tan, 7000 ton, 7500 ton an sat OR > anf tic yar ere & ores are eT aT B 7 count a te Ae 120 we HT How Income and Expenditure Account is prepared fom Receipt and Payment ‘per "C7 6.000 exit ar re, at ATM STB 20% sates ar, ame GE HH ore AST | cay ea ase 1,950 BT 4 site 80 evi st ae | ae aot ee 8 2,000 wet Aig TT A ATE SE ETT oy | gase M 3 ag fr 1 weve # 9/4 arr 5,200 we a ie gu 175 eit alt re 300 eft tare Per err aera 4 8 geret er a aror Ta | feo. A incre Aoniulneuenee, invoice price of Rs. 6,000 which was 20% above cost price. A neste Rs, 120 on Freight and Rs, 80 on Tnsurance, He received an acceptance from his agent of Hs. 2,008 yh was discounted with his bank at Rs, 1,950, The agent sold 34 goods at Rs. 6,200 and his Srdbs Expenses wero Rs. 175 and Commission Rs. 300. The ‘agent paid the due amount through two bill. Propare Consignment Account and Agent's Ae in the Books of ‘A’. fafr ae sre & 2 shyt Fert ware et? ave eT, 1 What is the meaning of Investment ? How many types of securities are there ? Explain. 5. seit cota & var stew whe F ? What are the objectives of Firm Amalgamation ? PH: Capitals): A~7,500; B-5,000 ‘aE (Creditors) ‘apt WTTT-ATH (Realisation Ale-Profit) We rae ECA et Rea 8, TR wae aE (Assuming that C is insolvent show the fins WOd'auI[UOAARp MAAL//: CNY