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NOVEMBER/DECEMBER 2020

BACM15C/UACM15C — FINANCIAL
ACCOUNTING I

Time : Three hours Maximum : 75 marks

SECTION A — (10  2 = 20 marks)

Answer ALL questions.

1. What is single column cash book?


uÛ£zv öμõUP Hk GßÓõÀ GßÚ?
2. What do you mean by petty cash book?
]À»øμ öμõUP Hk Gߣuß ö£õ¸Ò GßÚ?
3. What is net profit?
{Pμ »õ£® GßÓõÀ GßÚ?
4. What is Profit and loss Account?
C»õ£ |mh PnUS GßÓõÀ GßÚ?
5. A company purchased machinery for Rs.50,000.
The useful life of the machinery is ten years and
the residual value is Rs.10,000. Find out the value
of depreciation.
J¸ {ÖÁÚ® ¹.50,000 US J¸ C¯¢vμzøu
Áõ[Q¯x. Auß E£÷¯õP•ÒÍ Põ»® £zx
BskPÒ Auß GÔ ©v¨¦ ¹.10,000. ÷u´©õÚzvß
©v¨ø£ Psk¤i.
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6. What do you mean by Depreciation?
÷u´©õÚ® GßÓõÀ GßÚ?

7. What is equated date?


\©©õÚ uÁøn |õÒ GßÓõÀ GßÚ?

8. What is ‘Average Due Date’?


\μõ\› uÁøn |õÒ GßÓõÀ GßÚ?

9. State the features of Single Entry System.


JØøÓ¨£vÄ •øÓ°ß ]Ó¨¤¯À¦PøÍ SÔ¨¤kP.

10. Define Single entry system.


JØøÓ¨£vÄ •øÓUS Áøμ»UPn® u¸P.

SECTION B — (5 × 5 = 25 marks)

Answer ALL the questions.

11. (a)Prepare Double column cash book from the


following information.
2000 March
1 Cash balance Rs.6,900
6 Paid to Sundar Rs. 1,428 and
received discount Rs. 72
9 Paid salary Rs.5,025
20 Cash sales Rs.11,370

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29 Cash withdraw for personal use Rs.1,020

30 Getting compensation from

Railway officer Rs.4,380

31 Cash received from Santhi

Rs. 3,975 and allowed discount Rs.75

¤ßÁ¸® £μ[Pμ¸¢x C¸£zv öμõUP


HmiøÚ u¯õº ö\´P.
2000 ©õºa

1 öμõUP C¸¨¦ ¹.6,900

6 _¢u¸US ö\¾zv¯x ¹.1,428

uÒУi ö£ØÓx ¹. 72

9 \®£Í® ö\¾zv¯x ¹.5,025

20 öμõUP ÂØ£øÚ ¹.11,370

29 ö\õ¢u £¯ß£õmkUS Gkzu öμõUP® ¹.1,020

30 μ°À÷Á AvPõ›°h® ¹.4,380 CǨ¥k ö£ØÓx

31 \õ¢v°h® öμõUP® ö£ØÓx ¹.3,975,

uÒУi AÎzux ¹.75

Or

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(b) Give journal entries to the following
transactions :
March 1 Sold goods to Ragavan for cash Rs.9,500
2 Sold goods to Mugunthan Rs.7,000
3 Cash sales Rs.12,000
4 Goods bought by Murthy Rs.3,500
5 Sold old machinery Rs. 14,000
SÔ¨÷£miÀ RÌÁ¸ÁÚÁØøÓ £vÄ ö\´P.
©õºa 1 μõPÁß GߣÁ¸US öμõUPzvØS \μUS ÂØÓx ¹.9,500
2 •S¢uß GߣÁ¸US ÂØÓ \μUS ¹.7,000
3 öμõUP ÂØ£øÚ ¹.12,000
4 ‰ºzv GߣÁº Áõ[Q¯ \μUS ¹.3,500
5 £øǯ C¯¢vμ® ÂØÓx¹.14,000

12. (a) Prepare profit and loss a/c from the following
details.
Rs.
Rent 10,000
Bad debts 500
Discount allowed 300
Gross profit 8,500
Discount received 500
Carriage outwards 1,000
Wages 200

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¤ßÁ¸® £μ[PøÍU öPõsk C»õ£ |mh
PnUQøÚ u¯õº ö\´P.
¹.
ÁõhøP 10,000
ÁμõUPhß 500
uÒУi AÎzux 300
ö©õzu C»õ£® 8,500
uÒУi ö£ØÓx 500
öÁÎ HØÔ ö\À ö\»Ä 1,000
T¼ 200

Or
(b) Prepare trading account for the year ended
31st December 2013 from the following data :
Rs.
Opening stock 50,000
Purchases 2,80,000
Wages 20,000
Closing stock 60,000
Sales 3,80,000
Salaries 35,000
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RÌUPsh ÂÁμ[PÎÀ C¸¢x i\®£º 31, 2013
÷uv²hß •i²® BsiØPõÚ Â¯õ£õμ
PnUS u¯õº ö\´P.
¹.
öuõhUP \μUQ¸¨¦ 50,000
öPõÒ•uÀ 2,80,000
T¼ 20,000
CÖv \μUQ¸¨¦ 60,000
ÂØ£øÚ 3,80,000
\®£Í® 35,000

13. (a) A company purchased a plant for


Rs.1,00,000. The useful life of the plant is
5 years and the residual value is Rs.10,000.
Find out the rate of depreciation under the
straight line method.
J¸ {ÖÁÚ® ¹.1,00,000 ©v¨¦ÒÍ G¢vμ®
JßøÓ Áõ[Q¯x. Auß £¯ß£kzx® Põ»® 5
BskPÒ ©ØÖ® CÖv ©v¨¦ ¹.10,000.
÷u´©õÚ ÂQuzøu ÷|º÷Põmk •øÓ°À
PõsP.
Or
(b) A machine purchased on 1st July 2000 at a
cost of Rs.15,000. The depreciation is written
off at 10% on the original cost every year.
The book closed on 31st December each year.
Prepare machinery account for three years.
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J¸ C¯¢vμ® 1 áüø» 2000 AßÖ ¹.15,000
US Áõ[P¨£mhx. JÆöÁõ¸ Á¸h•®
AhUPÂø» «x 10% ÷u´©õÚ®
÷£õUöPÊu¨£mhx. JÆöÁõ¸ Á¸h•®
i\®£º 31 AßÖ ¦zuP® ‰h¨£k®. ‰ßÖ
Á¸hzvØS C¯¢vμ PnUS u¯õº ö\´P.

14. (a) Find out average due date for the following
bills :
Year Amount Period (months)
1.1.17 250 2
15.1.17 300 3
30.1.17 600 2
2.2.17 300 3
15.2.17 400 2

RÌPsh £μ[Pμ¸¢x \μõ\› uÁøn


|õøÍ Psk¤iUPÄ®.
Bsk öuõøP (¹.) Põ»® (©õu[PÒ)
1.1.17 250 2
15.1.17 300 3
30.1.17 600 2
2.2.17 300 3
15.2.17 400 2
Or
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(b) The due dates for the payment of certain
amounts are as follows :
Rs.
10th Jan 2018 4,000
18th Feb. 2018 2,200
5th Mar. 2018 800
12th April 2018 1,000
21st May 2018 2,000
1st June 2018 800

Find out average due date.


]» ö\¾zuÀ öuõøP°ß uÁønz ÷uv
¤ßÁ¸©õÖ.
¹.
áÚÁ› 10, 2018 4,000
¤¨μÁ› 18, 2018 2,200
©õºa 5, 2018 800
H¨μÀ 12, 2018 1,000
֩ 21, 2018 2,000
áúß 1, 2018 800

\μõ\› uÁønz ÷uvø¯ PnUQkP.

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15. (a) From the following details find out drawings.
Rs.
Opening capital 10,000
Closing capital 20,000
Loss 4,000
Additional capital 15,000
¤ßÁ¸® £μ[PÎÀ C¸¢x Gk¨¤øÚ
PõsP.
¹.
öuõhUP •uÀ 10,000
CÖv •uÀ 20,000
|mh® 4,000
Cøh•uÀ 15,000
Or
(b) From the following details find out profit or
loss.
The assets and liabilities in the beginning of
the year were Rs.40,000 and Rs.25,000
respectively. Drawings Rs.500 per month.
Additional capital introduced during the year
was Rs.6,000. Capital at the end of the year
Rs.22,000.
RÌUPõq® £μ[Pμ¸¢x C»õ£® AÀ»x
|mhzøu PshÔP. Bsk xÁUPzvÀ C¸¢u
ö\õzxUPÎß ©v¨¦ ¹.40,000 ©ØÖ®
ö£õÖ¨¦PÎß ©v¨¦ ¹.25,000. Gk¨¦PÒ
©õu® JßÖUS ¹.500. |h¨¦ BsiÀ öPõsk
Á쨣mh TkuÀ ‰»uÚ® ¹.6,000. CÖv
‰»uÚ® ¹.22,000.
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SECTION C — (3 × 10 = 30 marks)

Answer any THREE questions.

16. Discuss the objectives of accounting.


PnUS £v°¯¼ß ÷|õUP[PøÍ ÂÁõv.

17. Prepare trading profit and loss a/c and balance


sheet from the following details.
Debit balances Rs. Credit balances Rs.
Furniture 1,500 Capital 40,000
Motor car 10,800 Discount 150
Salaries 4,950 Creditors 4,700
Insurance 3,300 Sales 80,410
Debtors 11,070 Purchase return 2,520
Stock 14,360 Commission 400
Purchase 67,350
Cash 2,610
Carriage inwards 1,450
Carriage outwards 1,590
Bad debts 1,310
Office expenses 5,100
Return inwards 1,590
Depreciation 1,200
1,28,180 1,28,180

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The following adjustments are to be made :

(a) Make provision for doubtful debts at 5%

(b) Calculate discount on creditors at 2%

(c) Carriage inwards includes carriage paid on


purchases of furniture Rs.50

(d) Outstanding salaries Rs.150

(e) Prepaid insurance Rs.300

(f) Stock on hand Rs.10,700

(g) Depreciation on Motor van at 10%.

¤ßÁ¸® £μ[PøÍ öPõsk ¯õ£õμ C»õ£ |mh


PnUS ©ØÖ® C¸¨£õ´øÁ u¯õº ö\´P.
£ØÖ C¸¨¦PÒ ¹. ÁμÄ C¸¨¦PÒ ¹.

AøÓP»ß 1,500 •uÀ 40,000

÷©õmhõº ÷Áß 10,800 uÒУi 150

\®£Í® 4,950 PhÜ¢÷uõº 4,700

Põ¨¥k 3,300 ÂØ£øÚ 80,410

PhÚõÎPÒ 11,070 öPõÒ•uÀ v¸¨£® 2,520

\μUQ¸¨¦ 14,360 PÈÄ 400

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£ØÖ C¸¨¦PÒ ¹. ÁμÄ C¸¨¦PÒ ¹.

öPõÒ•uÀ 67,350
öμõUP® 2,610
EÒ HØÔaö\À ö\»Ä 1,450
öÁÎ HØÔaö\À ö\»Ä 1,590
ÁμõUPhß 1,310
A¾Á»P ö\»ÄPÒ 5,100
EÒv¸¨£® 1,590
÷u´©õÚ® 1,200

1,28,180 1,28,180

\›UPmkuÀPÒ ¤ßÁ¸©õÖ :
(A) Áμõ I¯UPhß JxUS 5% E¸ÁõUS
(B) PhÜ¢÷uõº «uõÚ uÒУi JxUS 2% PõsP.
(C) EÒ HØÔa ö\À ö\»ÂÀ AøÓP»ß
Áõ[Q¯uØPõÚ HØÔ ö\À ö\»Ä ¹.50
Ah[Q²ÒÍx
(D) öPõk£h ÷Ási¯ \®£Í® ¹.150
(E) •ßTmi ö\¾zv¯ Põ¨¥k ¹.300
(F) \μUQ¸¨¦ ¹.10,700
(G) ÷u´©õÚ® ÷©õmhõº ÷Áß «x 10%.

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18. A company acquired a machine on 1.1.2011 at a
cost of Rs.3,50,000 and spent Rs.50,000 on its
installation. It purchased further machinery on
1.1.2012 for Rs.1,00,000. The firm writes off
depreciation at 10% on diminishing balance
method. The books are closed on 31st December of
each year. Show the machinery account and
depreciation account for 3 years.

{ÖÁÚ® 1.1.2011 AßÖ ¹.3,50,000 ©v¨¦ÒÍ


C¯¢vμzøu Áõ[Q¯x ÷©¾® ¹.50,000 Aøu
ö£õÖzxÁuØS ö\»Ä ö\´ux. 1.1.2012 AßÖ
¹.1,00,000 ©v¨¦ÒÍ ÷©¾® J¸ C¯¢vμ®
Áõ[Q¯x. 10% SøÓ¢x ö\À C¸¨¦ •øÓ°À
÷u´©õÚ® ÷£õUöPÊu¨£mhx. JÆöÁõ¸ Á¸h•®
i\®£º 31 AßÖ ¦zuP® ‰h¨£k®. ‰ßÖ
Á¸hzvØS C¯¢vμ PnUS u¯õº ö\´P.

19. What are the types of problem related with


average due date?

\μõ\› uÁøn |õÐhß öuõhº¦øh¯ ¤μa]øÚPÎß


ÁøPPÒ ¯õøÁ?

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20. What are the difference between single entry and
double entry system?

JØøÓ £vÄ •øÓUS®, Cμmøh £vÄ •øÓUS®


EÒÍ ÷ÁÖ£õkPÒ ¯õøÁ?

———————

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