wk 9

Total No. of Pages : 8

Register Number : 5627
Name of the Candidate :

B.Com. DEGREE EXAMINATION MAY 2014.

(FIRST YEAR)

540/140 — FINANCIAL ACCOUNTING

(NR)

(Common with B.Com. IB (NR) B.Com. BS/BBS (NR)

B.Com. A and F (NR) B.Com. M.M./B.M.M. (NR)
B.Com. CA (NR)

Time : Three hours Maximum : 100 marks

Answer any FIVE questions. (5 × 20 = 100)

All questions carry equal marks.

1. What is Bank Reconciliation Statement? Explain various causes of varying

balances between cash book and pass book.

2. Explain various methods of preparing accounts for joint venture.

3. From the following Trial balance of Mr. Narayanan. Prepare Trading and
Profit & Loss account for the year ended 31.12.98 and Balance sheet as on that
date.
Particulars Debit Particulars Credit
Rs. Rs.
Drawings 10,550 Capital 1,19,400
Bills receivable 9,500 Sales 3,56,430
Purchases 2,56,590 Commission 3,640
Return inwards 2,780 Provision for bad debts 2,000
Stock 89,680 Sundry Creditors 59,630
Plant and machinery 28,800 6% Loan 20,000
Salaries 11,000
Travelling 1,880
Sundry Debtors 62,000
Stationery 2,000
Telephone charges 1,370
Interest 5,870
Bad debts 3,620
Furniture 8,970
Wages 40,970
Cash in hand 530
Cash at bank 18,970
 wk 9

Particulars Debit Particulars Credit

Rs. Rs.
Insurance 400
Rent and Taxes 5,620
5,61,100 5,61,100
Adjustments:
Closing stock Rs.1,28,960
Write off bad debts Rs.2,000
Provide for provision for had and doubtful debts at 5%
Provide For Provision for discount on debtors at 2%.

4. Following are from the books of Surya, who keeps under single entry system
for his transactions.
1.1.2013 1.1.2014
Stock 12,000 15,000
Debtors 20,000 16,000
Bills Receivable 10,000 21,500
Creditors 8,500 19,500
Cash 10,000 19,000
Bank Overdraft 12,000 –
Machinery 47,500 47,500
Furniture 4,000 5,000
Drawings were Rs.14,000 Depreciate furniture @ 5% and write off Rs. 2,500 on
machinery. Write off bad debts Rs.500 and create Provision for bad and
doubtful debt at 5% on sundry debtors. Find the profit or loss.

5. Prepare bank reconciliation statement as on 31st March 2008 of Mr. X from the
following particulars after finding out the adjusted bank balance as per cash
book
(a) Bank overdraft as per cash book Rs.7,000
(b) Cheque issued but not encashed during the year Rs.4,400
(c) Cheque deposited but not credited by bank during the year Rs. 1,320
(d) Bank charges not recorded in the cash book Rs.300
(e) Cheques deposited as per bank statement not entered in the cash book
Rs. 1,900
(f) Interest charged by the bank recorded twice in the cash book Rs.900

6. Ramu owed to Krishna Rs. 12,000 on 1.1.2009. On the same date Krishna drew
upon Ramu a bill for the amount at 2 months and Ramu returned the bill duly
accepted. Krishna got the bill discounted at his bank at 6% p.a. Before the bill
was due for payments Ramu told Krishna that he was not able to pay the full
amount and requested Krishna to accept Rs.4,500 immediately and draw upon
him another bill for the remaining amount for two months together with
interest at 8% p.a. Krishna agreed. The second bill was duly met. Give journal
entries in the books in the books of Ramu and Krishna.

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 wk 9

7. The following particulars related to Madura Club for the year ended
31st December 2010.

Receipts and Payments Account for the Year ended 31.12.2010

Receipts Rs. Payments Rs.
To Balance c/d 600 By Salaries 1,245
To Subscriptions By Stationary 240
Arrears 24 By Rates and Taxes 360
Current 1,266 By Telephone 60
Advance 48 1,338 By Investments 750
To Profit from canteen 900 By Advertisements 105
To Miscellaneous 45 By Postage 100
To Sale of old newspapers 112 By Sundries 350
To Dividends 485 By Balance c/d 270
3,480 3,480
You are required to prepare an income and expenditure account and
balance sheet after making the following adjustments.
(a) There are 450 members each paying annual subscription of Rs. 3; Rs.27
being in arrear for 2009 at the beginning of this year.
(b) Stock of stationery on 31st December 2009 was Rs.30 ; on 31st December
2010 Rs.54
(c) Cost of buildings is Rs.6,000: depreciation at the rate of 5%
(d) On 1.7.2008 ‘A Co. Ltd. purchased a second hand machine for Rs.20,000
and spent Rs. 3,000 on reconditioning it. On 1.1.2009 the firm purchased
new machinery worth Rs. 12,000. On 30.6.2010, the machinery
purchased on 1.1.2009 was sold for Rs.8,000 and on 1.7.2010 fresh plant
was installed at a cost of Rs. 15,000.
The company writes off 10% on the original cost of machinery each year.
The accounts are closed every year ending 31st March. Show the
machinery account and depreciation for three years ending 31.3.2011.

8. A and B were partners in a Joint venture sharing profits and losses in the ratio
of 4:1. A supplied goods to the value of Rs.50,000 and incurred expenses of
Rs.5,400. B supplied goods to the value of Rs. 14,000 and his expenses
amounted to Rs.800. B sold the goods on behalf of joint venture and realized
Rs.92,000. B is eligible for a commission of 5% on sales. B settled the account
by a bank draft. Prepare Ledger a/c for A and B.

9. From the following prepare an account current by Aravindh to Manogar

charging, interest at 6% p.a. for six months ended 30.6.2010.
2010 Rs.
Jan. 1 Balance due from Manogar 1,200
Jan. 10 Sold goods to Manogar 1,040
Jan. 17 Manogar returned goods 250
Feb. 10 Manogar paid by cheque 800
Feb. 14 Manogar accepted Aravind’s draft for one month 600
Apr. 29 Goods sold to Manohar 1,230
May 15 Received cash from Manogar 1,400
June 15 Manogar accepted Aravind's bill for 3 months 1,000

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10. From the following particulars, prepare the Debtors Ledger Adjustment
Account and Creditors Ledger Adjustment Account as would appear in General
Ledger for the year ended 31.12.2010
January 1,2010 Rs.
Balance on bought ledger (Dr.) 1,740
Balance on bought ledger (Cr.) 23,880
Balance on sales ledger (Dr.) 9,240
Balance on sales ledger (Cr.) 480
December 31, 2010
Purchases 1,32,360
Purchases returns 5,120
Sales 1,74,980
Sales returns 2,340
Cash received from customers 1,52,420
Discount allowed thereon 5,640
Cash paid to suppliers 1,16,860
Discount received thereon 3,320
Cash paid to customers 260
Bills receivable received 8,240
Bills payable accepted 4,500
Bills receivable dishonoured 500
Bought ledger balance (Dr.) 1,540
Sales ledger balance (Cr.) 36,700

uªÇõUP®

GøÁ÷¯Ý® I¢x ÂÚõUPÐUS Âøh¯ÎUP.

Âøh¯ÎUP. (5 × 20 = 100)
AøÚzx ÂÚõUPÐUS® \© ©v¨ö£sPÒ.

1. Á[Q \›UPmk¨£mi¯À GßÓõÀ GßÚ? Á[Q ö\À÷»miØS® öµõUP HmiØS®

EÒÍ Á[Q C¸¨¦ ©õÖ£kÁuØPõÚ Põµn[PøÍ ÂÁ›.

2. Cøn ÂøÚ°À PnU÷PkPÒ u¯õ›zu¼À EÒÍ £À÷ÁÖ •øÓPøÍ ÂÁ›.

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3. v¸. |õµõ¯nß GߣÁ›ß ¤ßÁ¸® C¸¨£õ´Â¼¸¢x 31.12.98® |õÐhß

•iÁøh²® BsiØPõÚ Â¯õ£õµ, C»õ£ |mh PnUS ©ØÖ® C¸¨¦{ø»U
SÔ¨¦ BQ¯ÁØøÓ u¯õº ö\´P.
£µ® £ØÖ Â£µ® ÁµÄ
¹. ¹.
Gk¨¦ 10,550 •uÀ 1,19,400
ö£.©õ.^mk 9,500 ÂØ£øÚ 3,56,430
öPõÒ•uÀ 2,56,590 PÈÄ 3,640
EÒ v¸¨£® 2,780 ÁõµõUPhÝUPõÚ JxUS 2,000
\µUS 89,680 £Ø£» PhÜ¢÷uõºPÒ 59,630
C¯¢vµ® uÍÁõh[PÒ 28,800 6% Phß 20,000
\®£Í® 11,000
÷£õUSÁµzx 1,880
£Ø£» PhÚõÎPÒ 62,000
GÊxö£õ¸Ò 2,000
öuõø»÷£] ö\»ÄPÒ 1,370
Ámi 5,870
ÁõµõUPhß 3,620
AøÓP»ßPÒ 8,970
T¼ 40,970
öµõUP® 530
Á[Q 18,970
Põ¨¥k 400
ÁõhøP, Á›PÒ 5,620
5,61,100 5,61,100
\›UPmkuÀPÒ :
CÖv \µUQ¸¨¦ ¹.1,28,960
ÁõµõUPhß ÷£õUöPÊxP ¹. 2,000
5% Áõµõ I¯UPhß ÷£õUöPÊxP
2% PhÚõÎPÒ «uõÚ Ámh JxUS E¸ÁõUSP.

4. v¸. `º¯õ GߣÁº uÚx PnU÷PkPøÍ JØøÓ¨ £vÄ •øÓ°À £õxPõzx

Á¸QÓõº. AÁº RÌPsh ÂÁµ[PøÍ AÎUQÓõº.
1.1.2013 1.1.2014
\µUQ¸¨¦ 12,000 15,000
PhÚõÎPÒ 20,000 16,000
ö£ÖuØS›¯ ©õØÖa ^mkPÒ 10,000 21,500
PhÚõÎPÒ 8,500 19,500
öµõUP® 10,000 19,000
Á[Q ÷©ÀÁøµ¨ £ØÖ 12,000 –
C¯¢vµ® 47,500 47,500
AøÓP»ß 4,000 5,000

CÆÁõsiØPõÚ Gk¨¦ ¹. 14,000 , AøÓP»ß «x 5 \uÃu® ÷u´©õÚ® ©ØÖ®

¹. 2,500 C¯¢vµzvß «x ÷£õUöPÊv¯x. ÁõµõUPhß ÷£õUöPÊv¯x ¹. 500
÷©¾® £Ø£» PhÚõÎPÒ «x 5 \uÃu® Áõµõ ©ØÖ® I¯UPhß JxUS E¸ÁõUSP.

CÆÁõsiØPõÚ C»õ£ AÀ»x |mhzvøÚ PnUQkP.

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 wk 9

5. ¤ßÁ¸® ÂÁµ[PøÍU öPõsk v¸. X GߣÁ›ß 31.3.2008® |õÐUPõÚ Á[Q

\›UPmk¨£mi¯ø» u¯õº ö\´P.
(A) öµõUP Hmiߣi Á[Q ÷©À Áøµ¨£ØÖ ¹.7,000
(B) Põ÷\õø» öÁΰmhx BÚõÀ öµõUP©õUP¨£hõux ¹.4,400
(C) Põ÷\õø» Á[Q°À ö\¾zu¨£mhx BÚõÀ Á`À ö\´¯¨£hõux ¹. 1,320
(D) öµõUP HmiÀ £v¯¨£hõu Á[Q Pmhn® ¹.300
(E) öµõUP HmiÀ ©mk® £v¯¨£mh Põ÷\õø» ö\¾zxuÀPÒ ¹. 1,900
(F) Á[Q ÷©ÀÁøµ¨£ØÖ «uõÚ Ámi ö\¾zu¨£mhx öµõUP HmiÀ C¸•øÓ
£v¯¨£mhx ¹.900

6. 1.1.2009 AßÖ µõ• GߣÁº Q¸ènõ GߣÁ¸US uµ÷Ási¯x ¹. 12,000.A÷u

÷uv°À Q¸ènõ. µõ• «x AzöuõøPUS 2 ©õu uÁøn°À J¸ ©õØÖa ^møh
GÊvÚõº Aøu µõ• HØÖUöPõsk v¸¨¤ Aݨ¤Úõº. A®©õØÖa^møh
Q¸ènõ Á[Q°À BskUS 6% GÚ uÒУi ö\´uõº. A®©õØÖa ^miØPõÚ
Põ»® •iÁuØSÒ µõ•. Q¸ènõÂh® uØ÷£õx ußÚõÀ •ÊzöuõøP²®
uµ•i¯õx GßÖ®. uØ÷£õx ¹. 4,500 u¸Áx GßÖ® «u•ÒÍ öuõøPø¯
BsiØS 8% Ámi²hß ÷\ºzx 2 ©õu ©õØÖa^möhõßøÓ HØÖUöPõÒÁuõPÄ®
TÔÚõº Aøu Q¸ènõ HØÖUöPõshõº. C¢u CµshõÁx ©õØÖa ^mk
uÁønUPõ»zvÀ •øÓ¯õP ö\¾zu¨£mhx. µõ• ©ØÖ® Q¸ènõÂß HkPÎÀ
SÔ¨÷£mk £vÄPøÍ u¸P.

7. ©xµõ \[Pzvß i\®£º 31,2010 ® |õÐhß •iÁøh²® BsiØPõÚ ÂÁµ[PÒ

R÷Ç uµ¨£mkÒÍÚ. AuøÚ öPõsk AÆÁõsiØPõÚ Á¸Áõ´ ö\»ÂøÚ
PnUQøÚ²® C¸¨¦ {ø»U SÔ¨ø£²® u¯õº ö\´P.
ö£ÖuÀPÒ ¹. ö\¾zuÀPÒ ¹.
C¸¨¦ R/öPõ 600 \®£Í® 1,245
\¢uõ GÊxö£õ¸mPÒ 240
{¾øÁ 24 Á›PÒ 360
|h¨¦ 1,266 öuõø»÷£] Pmhn® 60
•ßTmi ö\´ux 48 1,338 •u½kPÒ 750
]ØÖsi¯Pzv¼¸¢x Qøhzu C»õ£® 900 ÂÍ®£µ® 105
£Ø£» ö£ÖuÀPÒ 45 u£õÀ ö\»ÄPÒ 100
£øǯ ö\´vuõÒPøÍ ÂØÓx 112 £Ø£» ö\¾zuÀPÒ 350
£[Põuõ¯® 485 C¸¨¦ R.C 270
3,480 3,480
\›UPmhÀPÒ :
(A) Ca\[PzvÀ ö©õzu® 450 EÖ¨¤ÚºPÒ EÒÍÚº. JÆöÁõ¸Á¸® BskUS
¹. 3 \¢uõ ö\¾zxQßÓÚº. 2009 ® BsiØPõÚ \¢uõ {¾øÁ ¹. 27
CÆÁõsk öuõhUPzvÀ C¸¢ux
(B) i\®£º 31, 2009 AßÖ GÊxö£õ¸mPÒ C¸¨¦ ¹. 30, i\®£º 31,2010
AßøÓ¯ C¸¨¦ ¹. 54
(C) Pmihzvß AhUP® ¹. 6,000, AuØPõÚ ÷u´©õÚ® BskUS 5%

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 wk 9

(D) 1.7.2008 AßÖ ‘A' {ÖÁÚ® ¹.20,000ØS £øǯ C¯¢vµ® JßøÓ Áõ[Q
Aøu C¯UP ¹. 3,000 ö\»Ä ö\´ux. 1.1.2009 AßÖ A¢{ÖÁÚ®
¹. 12,000ØS ¦v¯ C¯¢vµ® JßøÓ Áõ[Q¯x. 30.6.2010 AßÖ 1.1.2009
AßÖ Áõ[Q¯ C¯¢vµzøu ¹.8.000 ØS ÂØ£øÚ ö\´ux 1.7.2010 AßÖ
¹.. 15,000ØS ¦v¯ C¯¢vµ® Áõ[Q {Ö¯x.
{ÖÁÚ® C¯¢vµzvß «x BskUS 10 \uÃu® ÷|ºU÷Põmk •øÓ°À
÷u´©õÚ® }UQ¯x. {ÖÁÚzvß PnUSPÒ Bsk÷uõÖ® ©õºa 31 AßÖ
•iUP¨£kQÓx. 31.3.2011® |õÐhß •iÁøh²® Bsk Áøµ°À C¯¢vµ
PnUS ©ØÖ® ÷u´©õÚ PnUS BQ¯ÁØøÓ u¯õº ö\´P.

8. A ©ØÖ® B BQ÷¯õº J¸ CønÂøÚ°ß TmhõÎPÒ AÁºPÒ C»õ£ |mh[PøÍ

4:1 GßÓ ÂQuzvÀ £Qº¢xöPõÒQßÓÚº. A GߣÁº ¹.50,000 ©v¨¦ÒÍ
\µUQøÚ AÎzuõº ÷©¾® AÁº ö\´u ö\»Ä ¹.5,400. B ¹. 14,000 ©v¨¦ÒÍ
\µUQøÚ AÎzuõº÷©¾® AÁº ö\´u ö\»Ä ¹. 800. B CønÂøÚUPõP
AøÚzx \µUSPøͲ® ¹.92,000ØS ÂØÓõº. AÁ¸US ÂØ£øÚ°À 5 \uÃu PÈÄ
Esk B uõß ö\¾zu ÷Ási¯ öuõøPø¯ Á[Q Áøµ÷Áõø» ‰»©õP
ö\¾zvÚõº. C¸Áµx HkPξ® ÷£÷µmk PnUSPøÍ u¯õº ö\´P.

9. ¤ßÁ¸® ÂÁµ[Pμ¸¢x AµÂ¢z GߣÁº ©÷ÚõP¸US Aݨ¦® ÁøP°À

30.6.2010® |õÐhß •i²® BÖ©õu Põ»zvØS BsiØS 6% Ámi GÚU öPõsk
|h¨¦ PnUöPõßøÓ u¯õº ö\´P.
2010 ¹.

áÚ. 1 ©÷ÚõP›hª¸¢x ö£Ó÷Ási¯x 1,200

áÚ. 10 ©÷ÚõP¸US ÂØÓx 1,040

áÚ. 17 ©÷ÚõPº v¸¨¤ Aݨ¤¯ \µUS 250

¤¨. 10 ©÷ÚõPº Põ÷\õø» ö\¾zv¯x 800

¤¨. 14 AµÂ¢u GÊv¯ J¸ ©õuzvØPõÚ ©õØÖa^møh ©÷ÚõPº HØÖU öPõshx 600

H¨µÀ. 29 ©õ÷ÚõP¸US ÂØÓx 1,230

÷© 15 ©÷ÚõP›hª¸¢x ö£ØÓ öµõUP® 1,400

áüß 15 AµÂ¢u GÊv¯ 2 ©õuzvØPõÚ ©õØÖa^møh ©÷ÚõPº HØÖU öPõshx 1,000

10. ¤ßÁ¸® ÂÁµ[Pμ¸¢x ö£õx¨ ÷£÷µmiÀ ÷uõßÖ® PhÚõÎPÒ ÷£÷µmk

\›UPmk PnUQøÚ²® PhÜ¢÷uõº ÷£÷µmk \›UPmk PnUQøÚ²® 31.12.2010®
|õ÷Íõk •iÁøh²® BsiØS u¯õº ö\´P.
áÚÁ› 1,2010 ¹.
öPõÒ•uÀ ÷£÷µmk C¸¨¦ (£.) 1,740
öPõÒ•uÀ ÷£÷µmk C¸¨¦ (Á) 23,880
ÂØ£øÚ ÷£÷µmk C¸¨¦ (£) 9,240
ÂØ£øÚ ÷£÷µmk C¸¨¦ (Á) 480

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 wk 9

i\®£º 31, 2010

öPõÒ•uÀ 1,32,360
öPõÒ•uÀ v¸¨£® 5,120
ÂØ£øÚ 1,74,980
ÂØ£øÚ v¸¨£® 2,340
PhÚõÎPÎhª¸¢x ö£ØÓ öµõUP® 1,52,420
AÁºPÐUS AÎzu uÒУi 5,640
PhÜ¢÷uõ¸US ö\¾zv¯ öµõUP® 1,16,860
AÁºPÎhª¸¢x ö£ØÓ uÒУi 3,320
PhÚõÎPÐUS AÎzu öµõUP® 260
ö£ÖuØS›¯ ©õØÖ ^mkPÒ ö£ØÓx 8,240
ö\¾zxuØS›¯ ©õØÖ ^mkPÒ HØÓx 4,500
{µP›UP¨£mh ö£ÖuØS›¯ ©õØÖa ^mkPÒ 500
öPõÒ•uÀ ÷£÷µmk C¸¨¦ (£) 1,540
ÂØ£øÚ ÷£÷µmk C¸¨¦ (Á) 36,700

—————————

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