Question Paper FA

IInd Semester B.Com Degree Examination, 1st February 2012
BC2B02 – Financial Accounting
Time: Three Hours                                                                                    Maximum: 20 Weightage

I - Answer All Twelve Questions
A - Fill in the Blanks:
1)     Transaction = ……………  +  ……………
2)     Where ………… ends …………… begins
3)     Debit the receiver and credit the giver is the rule for ………………
4)     Cash purchases are entered in the …………

B - Write the Correct Answer from the Choice Given in the Brackets:
5)     Sale of old asset will be recorded in (purchase book, sales book, journal proper, nowhere)
6)     Contra entries are related to (cash, bank, cash and bank, none of these)
7)     The amount of salary paid to ram should be debited to (ram’s account ,cash account, salary account)
8)     Classification of accounts is made in ( journal, ledger, subsidiary books, balance sheet)

C - Answer in One Word:
9)     Hybrid system of accounting  means.
10)Excess of revenue over expense is known as.
11)Ledger folio used to.
12)Analytical petty cash books are using for.
 (12 × ¼ = 3 Weightage)

II – Short Answer Type Questions (Answer Any 5 Questions)
13)Define accounting?
14)What is double entry system?
15)Write the accounting rules?
16)Define accounting cycle?
17)What is petty cash book?
18)Define trial balance?
                                          (5 × 1 = 5 Weightage)

III – Short Essay / Paragraph Questions (Answer Any 4 Questions)
19)Explain the various accounting concepts
20)What are the objectives and functions of accounting
21)Show the Effect of Transactions on Accounting Equation :
1. Ram started business with cash Rs. 250000
2. Brought furniture for Rs. 21000
3. Purchased goods from KP traders, Rs. 28500
4. Cash sales Rs. 35000
5. Sold goods on credit to Manoharan Rs.25000
6. Paid for office stationary Rs. 250

      22)Prepare a columnar petty cash book and post them into ledger
Jan. 1  Balance in hand Rs. 50
         5  Received from the cashier Rs. 500
        6  Travelling expenses Rs. 45

        7  Postage Rs. 23
        20  Stationery Rs. 30
        22  Wages to coolie 150
        27  Cartage Rs. 15
        30  Tea Rs. 20
22)How do you classify ledger?
                                                      (4 × 2 = 8 Weightage)

IV – Essay Questions (Answer Any 1 Questions)
23)Enter the following transactions in cash book with tree columns and balance the cash book.
Dec.   1   cash balance Rs. 8,000;Balance with bank Rs.20,000
           2   Paid in to bank Rs.4,000
           4   Received cash from Sunder Rs.2,000 and allowed him discount Rs.60
           5   Cash sales Rs.550
           6  Sold  goods for Rs. 450 and received cheque.
           9   Paid to Dasan by cheque of Rs.640 in full settlement of his account paid for     
12   Cash purchace for Rs. 1290, paid a cheque.
13   Paid by cheque to Rinu Rs.1,450 in full settlement of his account Rs.1,600
18   Withdrow for office use Rs.1,800
19   Withdrow for personel use Rs.200
20   Advertaisement expence Rs. 90
23   Cash withdrow from bank Rs.1000 for personel use.
24   Paid salaries Rs. 2500 by cheque
25   Life insurance premium paid Rs.600
26   Paid rent Rs. 800
27   Office furniture purchaced worth Rs. 750
28   Received a cheque of Rs. 1160 frome Revathi in full settlement of his account for Rs. 1240
                               [Hint: Life insurance premium should be treated as drawings]

24) March 09:  1st     commenced business with cash Rs.50,000 and deposited an amount of Rs. 1,00,000 with state bank of India.
5        Bought goods from Suneera  Rs.2000
6        Sold goods to Chandra Rs.1500
11   Drew cheque for Rs.5,000 for petty cash.
15   Paid suneera on account Rs.1,000
16   Received cheque from Chandra Rs.1400;Discount allowed to him Rs.100
17   Paid wages Rs.300
18   Bought goods for cash Rs.3,000
19   Bought almirah Rs.3,000
20   Sold goods for cash Rs.1,500
21   Paid electricity charges Rs.200
22   Bought goods from Manohar Rs.10,000
25   Goods returned to him Rs.200
26   Cheque sent to Manohar in full settlement of his account.
27   Paid carriges Rs.150

                                   (1 × 4 = 8 Weightage)