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Business Accounting

The document appears to be an exam for a Business Accounting class, containing three sections with multiple choice and written response questions. Section A contains 10 two-mark multiple choice questions on topics like branch accounting, departmental accounting, down payments, installment systems, and debtors systems. Section B has 5 five-mark questions requiring calculations and preparing accounting entries. Section C consists of 3 ten-mark questions requiring the preparation of departmental trading accounts and calculating an insurance claim amount based on provided stock figures.

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Maha Rachitha
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23 views

Business Accounting

The document appears to be an exam for a Business Accounting class, containing three sections with multiple choice and written response questions. Section A contains 10 two-mark multiple choice questions on topics like branch accounting, departmental accounting, down payments, installment systems, and debtors systems. Section B has 5 five-mark questions requiring calculations and preparing accounting entries. Section C consists of 3 ten-mark questions requiring the preparation of departmental trading accounts and calculating an insurance claim amount based on provided stock figures.

Uploaded by

Maha Rachitha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

Government Arts & Science College For Women Orathanadu

PG & Research Department Of Commerce

Business Accounting

Class: I B.Com A & B Mark: 75

Sub code: 16CCCCM3 Time: 3hrs

Section-A (10x2=20)

I Answer all the questions:-

1.What are the feature of Branch Account?

2.Define Departmental Accounting?

3.What is Down Payment?

4.Mention any two Objectives of Departmental Accounting?

5.Define Instalment System?

6.Write a note on Minimum Rent?

7.What is Hire Purchase Price?

8.Write a note on Debtors System?

9.What is meant by Short Working?

10.What in Instalment Purchase System?

Section-B (5x5=25)

II Answer all the questions:-

11. A Trichy head office has a branch at Salem to which goods are invoiced at cost plus 20% from the details prepare branch a/c
in the Head office book: Rs.

Goods sent to branch 2,11,872

Cash sales 1,10,400

Credit sales 96,000

Cash received from debtors 88,000

Debtors on 1.1.2016 24,000

Stock on 1.1.2016 7,680

Stock on 31.12.2016 13,440

12.Calculate the claim amount of applying average clause amount of policy Rs.25,000: stock on date of fire Rs.30,000 actual loss
stock of Rs.22,500.

13.Find out purchase and sales from the following details by making necessary a/c's Rs.

Opening balance of debtors 30,000

Opening balance of creditors 1,60,000


Collection from debtors 10,000

Discount received 2,500

Bad debt 1,000

Payment to creditors 14,000

Discount allowed 1,500

Return inwards 2,000

Return outwards 3,000

Cash purchase 6,000

Cash sales 10,000

Closing balance of debtors 35,000

Closing balance of creditors 15,000

14.Prepare Memorandum Trading a/c for hire insurance from the following information.

Year Sales Rs. Gross profit Rs.


1993 12,50,000 3,75,000
1994 8,00,000 1,60,000
1995 9,50,000 95,000
1996 2,83,000 ?
stock on 1.1.96 to 75,000 purchases Rs.2,00,000 stock salvaged Rs.10,000 Gross profit rate 10%

15.Complete the provisional insolvency act under prefrential creditors amount from the following

Rs.

salary of clerks 200

wages of labour 240

Sales tax 400

Salaries 1000

Income tax 1000

Wages of servants 80

Municipal tax 400

Wages 6000

Total amount paid Rs. 16,000

Section-C (3x10=30)

III Answer all the question:-

16.The following purchase were made by a business home having three departments

Dept A 1000 Units

Dept B 2000 Units at a total

Dept C 2400 Units


Stock on 1st January were:

Dept A 120 Units

Dept B 80 Units

Dept C 152 Units

Sales were:

Dept A 1020 Units at Rs.20 each

Dept B 1920 Units at Rs.22.50

Dept C 2496 Units at Rs.25 each case

Prepare Departmental Trading account.

17.A fire occurred in the premises of a business on 15.12.2001 from the following particulars, ascertain the account of Claim for
loss of stock. Rs.

Stock on 1.4.2005 30,600

Purchase from 1.4.2015-31.3.2016 1,22,000

Sales from 1.4.2015-31.3.2016 1,80,000

Stock 1.4.2015 27,000

Purchase from 1.4.2016-15.12.2016 1,47,000

Sales from 1.4.2016-15.12.2016 1,50,000

Stock were always valued at 90% of the cost salvage value of stock Rs.18,000.

18.What is self balancing system? Discuss the advantage of self balancing system?

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