SUNDER DEEP GROUP OF INSTITUTIONS, GHAZIABAD
Printed Pages: 2 Paper Code-HMCT 306
MBA
Pre University Examination, 2015-16
APPLIED ACCOUNTING
Time: 03:00 hrs Total Marks: 100
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Note:(1)Attempt all sections as directed.
(2)Be precise in your answer.
Section- A
Attempt all parts. All parts carry equal marks. Write answer each part in short. (2*10=20)
1)What is Ledger? What purpose does it serve?
2)Explain with examples Real, Personal and Nominal Account.
3)What is need for providing depreciation?
4)Define night auditor.
5)What is journal?
6)Define cash flow statement.
7)Define any two method of depreciation.
8)What is profit and loss account?
9)What is fund flow statement?
10)Define goodwill.
Section B
Attempt any five questions in this section. (10*5=50)
Q1) Difference between book-keeping and Accounting
Q2) Record the following Transactions in the journal of Ram Nath.2015
Jan 1 Started business with cash Rs60, 000, Machinery Rs30, 000 and furniture Rs 16,000.
Jan2 Purchased goods for cash Rs28, 000
Jan 4 Sold goods to Ratnakar of Rs15,000 at trade discount of 10%
Jan 7 Ratnakar returned goods worth Rs5,000
Jan 10Recieved cash from Ratnakar Rs8,850 in full settlement of his account.
Jan12 Purchased goods from Surendra Traders of Rs10,000 less trade discount 15%.
Jan 15 Returned goods to Surendra Traders worth Rs 2,000
Jan18 Cleared the accounts of Surendra Traders by paying cash under a discount of 5%.
Jan 18 Purchased goods from Nitin Rs 4,000 : Prakash Rs2,000
Jan 19 Paid cash to Nitin Rs1,580 and discount receive Rs20
Jan 20 Paid fire insurance premium Rs200
Jan 21 Paid Ram life insurance premium Rs 825
Jan 28 Sold goods of Rs 5,000 for cash at 10% Trade discount and 2
% cash discount
Jan 30 Paid rent Rs 600,advertising expenses Rs 400 and Salaries Rs 1,200
Q3) Prepare the format of Final account with the help of suitable example.
Q4) why accounting concepts and conventions required? How will you distinguish between accounting concepts and conventions?
Q5) Distinguish between Trading Account and Profit & Loss Account. Also give their advantages.
Q6What is tabular ledger? Also discuss its merit and demerits.
Q7) Distinguish between fund flow and cash flow statement.
Q8) Discuss the various users of accounting.
Section C
Attempt any two questions in this section. (15*2=30)
Q1) on 1st Jan 2003 a company purchased a plant for Rs 20,000. On 1 July in the same year it purchase additional plant of Rs8,000 and spent Rs2,000 on its erection. Depreciation is provided at 10% per annum on original cost on 31st December every year. Show the plant Account from 2003 to 2005.
Q2Difference between trial balance and ledger..Also prepare formal of Trial balance with suitable examples.
Q3) What is cash book? Difference between single column and double column cash book.