GOVERNMENT DIPLOMA IN CO.

OPERATION AND ACCOUNTANCY AND

CERTIFICATE IN CO.OPERATIVE HOUSING MANAGEMENT
Monday, 27th May 2019
(Time : 2.00 p.m. to 5.00 p.m.)
(Maximum Marks - 100)
ACCOUNTS
PAPER . II

(Version - English and Marathi)

N. B. : (1) All questions are compulsory"

(2) Figures to the right indicate full marks.
(3) English version will be considered as authentic.

1. From the following Trial Balance of Pravara Go-operative Society, Ahmednagar 30

as on 31st March 2019 and additional information, prepare Trading and Profit
and Loss Account for the year ending 31st March 2019 and Balance Sheet on
that date.
Trial Balance
Particulars Debit (Rs.) Particulars Credit (Rs.)
Opening Stock 12,000 Sales 3,44,000
Purchases 3,27,400 Sales of empty bags 14,000
Carriage lnward 4,000 Returns outward 5,000
Salaries 12,000 Reserve Fund 10,000
lnt. on Government Loan 720 Government Loan 6,000
General Expenses 1,440 Education Fund 1,000
Printing and Stationery 170 Share Capital 50,000
Cash in hand 4,940 Creditors 6,200
Cash at Bank 6,000
National Saving Certificate 500
Electricity 320
Advances 850
Debtors 5,600
Dead Stock BOO
Building 60,000
Total .. 4,36,200 4,36,200

Additional lnformation -
(1) Closing stock is valued at Rs, 18,000.
(2) Audit fee payable Rs. 500.
(3) Charge Depreciation at 10o/o ot1 Dead Stock and 5% on Building.
(4) Make provision for Bad Debts Rs, 200.
(5) Authorised capital is Rs. 1,00,000 divided into share of Rs. 20 each.
IP.T.A.
2. (A) From the following information you are required to prepare Bank Reconciliation 10
Statement as on 31st March 2019 in respect of Janta Sahakari Urban Gredit
Society, Pune.
(i) Bank overdraft as per cash book Rs. 30,000.
(ii) Cheque of Rs. 15,000 was deposited in Bank on 29th March 2A19 and credited
in passbook on 2nd April 2019.
(iii)Bank had charged interest Rs. 4,238 on 30th March 2019 which was not entered
in the cash book till 3rd April 2019.
(iv)Bank had credited Rs. 6,000 in the passbook on 30th March 2019 toward
quarterly interest on Term Deposit of society. This was entered in cash book on
2nd April 2019.
(v) A cheque of Rs. 26,000 was deposited in the bank on 25th March 2019, however
the said cheque was dishonoured and hence debited the same in passbook on
30th March 2019. No entry of dishonoured cheque was passed in the cash book v
till 3rd April 2019.
(vi)Society paid electricity charge by cheque Rs.5,210 on 20th March 20'19. The
same was presented in the bank and paid by the bank on 4th April 2019.
(B) What is Depreciation ? What is the need of providing Depreciation ? Describe 10
the methods of depreciation.
3.(A) Rakesh accepted a bill for Rs. 10,000 drawn on him by Mahesh for mutual 10
accommodation. Mahesh discounted the same with the bank for Rs. 9,800. He
remitted half of the amount to Rakesh. On due date Mahesh remitted his share of
amount to Rakesh who honoured the bill on presentation.
Pass the Journal Entries in the books of Rakesh and Mahesh'
(B) From the following financial statement, you are required to calculate - (i) Gross 10

Profit Ratio, (ii) Net Profit Ratio, (iii) Stock Turnover Ratio, (iv) Current Ratio and
(v) Liquied Ratio.
Trading and Profit and Loss Account ending on 31st March 2019

Particulars Debit (Rs.) Particulars Credit (Rs.)

To Opening Stock 2,50,000 By Sales 18,00,000

To Purchases 10,50,000 By closing stock 1,50,000

To Gross Profit 6,50,000

19,50,000 19,50,000

To Administrative Expenses 2,30,000 By Gross profit 6,50,000

To Selling Expenses 1,00,000 By Profit on sale of 50,000

To Finance Expenses 20,000 fixed assets

To Net Profit 3,50,000
7,00,000 7,00,000
 tr
Balance Sheet as on 31st March 2019
Liabilities Rs. Assets Rs.

50,000 Shares of 5,00,000 Land and Building 5,00,000

Rs. 10 each Plant and Machinery 2,00,000
General Reserve 4,00,000 Stock 1,50,000
Sundry Creditors 2,00,000 Sundry Debtors 2,50,000
Profit and Loss A/c 1,50,000 Cash at Bank 1,50,000
12,50,000 12,50,000

4. (A) Write short notes. (any two) 10

(1) Cost Accounting.

(2) Rectification of Errors.
(3) Management Accounting.
(4) Various types of Negotiable lnstrument.

(B) Distinguish between any two of the following. 10

(1) Capital and Revenue Expenditure.

(2) Trial Balance and Balance Sheet.
(3) Cheque and Demand Draft.
(4) Valuation and Verification of Assets.

5. (A) State the fottowing statements are true or false.

(1) Receipt and Payment account shows the amount of profit earned or loss suffered.
(2) Wage paid for erection of machinery should be debited to Wages Account.
(3) Closing Stock is valued at Market price.
(4) Debentureholders are the creditors of a business.
(5) Charitable institutions generally prepare lncome and Expenditure Account.

(B) Fill in the gaps / blanks.

(1) Profit and Loss Account and Balance Sheet of Co-operative Society should be
prepared in .................. Form.
(2) Final Accounts should be prepared in .. days from the date of
year ending.
(3) Donation to scholarship fund is a ......
(4) One on whom bill is drawn is called
(5) Donation Fund is shown on the . side of Balance Sheet.

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