NOVEMBER 2022 62501/CZ21A/AY21A/BS21A

Time : Three hours lus imurn . 75

marks SECTION \ — ( 10 ^ 2 - z'0 run rk s)

.inset er any TEL questions.

1. State the rue aning of tion-tradin, conce rn.

2. What are the contents of final accounts !

.3. Write the me an ing of written mo» n value method

of depreciation.

4. that do you mean b -4x'erage clause police ‘?

5. Mention any two defects of sin gle entry system.

6. What is single entry system?

7. What is siispense account?

8. Give the meaning of BHS.

9. What is partial repossession?

10. that isinstalment?

11. \\"hat is balance shee t?

receip t an I pay ment accoun I*

SECT1t0N B — (ñ x ñ = 2ñ marks)
Answer any FILE questions.

13 Pepae trading account from the information given below :

Rs.
Opening stock 3, 600
Purchases 18, 260
\Vages 3,620
Clos i n, stock 4, 420
Sales 32, 000
Carriage on purchases ñ00
Rent (factory) 400
Sales returns 700
Purchase returns 900

need for preparing a Balance Sheet? Explain.

2 62501/C Z2IA/AY21A/BS2IA
From the Bolton.'iny particulars. prep are II acliinery account for
3 years under sti-a iFla t line metliod.

Price of the machine Rs. /36,000

Freight charges Rs. 2, 500

Installation charge s Rs. 1.500

1 ife of the machine ii yeare

Distinguish between fixed instalment *ys tern and reducing

balance meshod of depreciation.

Find out the total purchases for the ye ar 1999 on the basis of the
following particulars

n›
Opening creditors 37,000

Opening bills payable 22,000

Closing creditors 39,500

Closing bills payable 18,000

Cash paid for bills payable during the year 80,000

Discount received from creditors 1,370

Ca sh p aid to trade creditem dumug the year 39,950

Cash purchases made during the year 32,540

3 6250 UC Z21A/AY2IAIBS2 IA
 :J7,000
22,000
!39,500
18,000

S0,000
1, 370
39, 900
32,540

18. On 1. 1. 20()(I G‹ psi I purchased a machinery under Hire

Purchase sj-s tern . I lie dOi4’rt d› ment was Rs. 1 0.000 and the
balance is p aj-a tale ‹in three a nnual instalme nts of Rs. 10,000
cach. Interest is to be charged at 3*i p. a. Calculate the cash
price.

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19. From the follow inp, find how much is to be show'n in Income and
Expenditure account, for the year ending 31. 12. 2000 against
subscript i ‹m.
Subscriptiran received during the year Rs. 14,340
Subscription outst. n ding on 1. 1.2000 Rs. 1,200
Subscription outs.t anding on 31. 12.2000 Rs. 1,500
Subscription received in advance on 1.1. 2000 Rs. 900
Subscription received in advance on 31.12. 2000 Rs. 540
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62501/CZ21A/AY21A/BS21A
 SECTION C — (3 x 10 - 30 marks)
.Answer any THREE questions

20. From the following Ti ia1 balance of Shri. Rajan prepare Trading
and P & L account and the Balance sheet.
Rs. Rs.
Purchases and Sales 16,000 30,000
Debtors and Creditors 3,250 2, 100
Discounts 1.300
Wages 6,ñ 00
Capital
10,65â
Salaries
?,520
Carriage inw ards
275
Or-erdraft
3, 000
Carriage outwards
500
Insurance
150
Rent
500
Sundry Expenses
160
Cash
2, Ts0
Buildings
4,000
machinery
2,000
Opening stock
5,8?0
45,755 45, 755

Adjustments :
(a) Rent due Rs. 30
(b) Insurance prepaid Rs. 20
(c) Depreciate machinery by 10fio
(d) Reserve for doubtful debts Rs. 500
(e) Closing stock Rs. 6,000
(f) Discount expected from creditors 5%\

5 62501/CZ21A/AYS1AfBS21A
 1,300
6,500

10,655
2,520

27ö

3,000

500

150

500
160
2,750
4,000
2,000
3,8ú 0

45,75ü 45,’i55

(ğ)
6
62501/CZ21A/
AY21A/BS2IA
tin lie. -*. TOO l a tire occurre d in the preinises ct a company. From
the following partieula re, ascertain the autount of claim to be
lc›d,ed in case of' stock ivhic h »-us insiii’ed.

Stock on I• 1.20 )I 1,00,000

Purchases from 1. 1.2001 to the date of fire 1,50,000
\\ ages 50,000
it anufact urin g e xpenses
30,000
Sales from 1.1.2001 to the date of fire
2, 40,OOO
flross profit is -?o’8o on sales
The stock salt aged Eva s valued at Rs. 19, 500

From the following de rails of a merchani, calculate the results

for the year ended 31.12. 2000
1.1 I.20tJ0 31. 1U.?001
Rs. Its.
Cash 200 000
Bank 1,80(I ?°, 500
Stock 6.00tl 3, 000
Accounts receivable 11, 200 1 2, 000
Fixtures 2,800 2,800
Machinery 18, 000 1’?, 200
:\ccounts payable 6.000 4, OOO
Loan from a friend 4, 000 4, 000

During this year he introduced Rs. ñ, 00C1 as additional capital

and has drawn Its. 500 per month. Interest due to friend’s loan
Rs. 120. Provide dou btful debts at 10* .

62501/CZ2 1A/AY21A/BS2IA
 1.11.2000 i41. l0. 2001

*k C* 18000 17200

23. What are the causes for discrepancy between the balance as per
the cash book and the pass book?

24 Mr. .fi purchased a machine from B Limited for Rs. ñ,60, 000;
payment to be made Rs. 1, 30.000 dew n and three instalments of
Rs. 1, ii0, 000 each at the end of each yea r. He depreciates the
asset at 10% per antiii in on written down value method.
Because of financial diffic ulties. Mr. A after having paid down
payment and fi rat in.stalment at the end of the first year, could
not pay second inst‹i1inent and the seller took possession of the
asset. Prepare ledger accounts in both parties.

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8 62501/CZ2lA/AY21A/BS21A