November 2012
Bachelor of Computer Application (BCA) – Semester 3
BC0044 – Accounting and Financial Management – 4 Credits
(Book ID: B0805)
Total Marks: 60 Marks
Answer all the questions.
1. Journalise the following transactions: (10 Marks)
01.01.09 Bought goods for Rs.10,000
02.01.09 Purchased goods from X Rs.20,000
03.01.09 Bought goods from Y for Rs.30,000 against a current dated cheque
04.01.09 Purchased goods from Z [price list price is Rs.30,000 and trade
discount is 10%]
05.01.09 Bought goods of the list prce of Rs.1,25,000 from M less 20% trade
discount and 2% cash discount. Paid 40% of the amount by cheque
06.01.09 Returned 10% of the goods supplied by X
07.01.09 Returned 10% of the goods supplied by Y
1. Explain errors of omission and errors of commission. (10 Marks)
2. From the following balances extracted from Trial balance, prepare Trading Account.
The closing stock at the end of the period is Rs. 56000 (20 Marks)
Particulars Amount in Rs.
Stock on 1-1-2004 70700
Returns inwards 3000
Returns outwards 3000
Purchases 102000
Debtors 56000
Creditors 45000
Carriage inwards 5000
Carriage outwards 4000
Import duty on materials received from
abroad
6000
Clearing charges 7000
Rent of business shop 12000
Royalty paid to extract materials 10000
Fire insurance on stock 2000
Wages paid to workers 8000
Office salaries 10000
Cash discount 1000
Gas, electricity and water 4000
Sales 250000
3. Why wealth maximization is superior to profit maximization? (10 Marks)
4. Following are the extracts from the Trial Balance of a firm as on 31st March 20X7
(10 Marks)
Dr Cr
Sundry Debtors 2,05,000
Provision for Doubtful Debts 10,000
Provision for Discount on Debtors 1,800
Bad Debts 3,000
Discount 1,000
Additional Information:
1) Additional Bad Debts required Rs.4,000
2) Additional Discount allowed to Debtors Rs.1,000
3) Maintain a provision for bad debts @ 10% on debtors
4) Maintain a provision for discount @ 2% on debtors
Required: Pass the necessary journal entries and show the relevant accounts including final
accounts.
Bachelor of Computer Application (BCA) – Semester 3
BC0044 – Accounting and Financial Management – 4 Credits
(Book ID: B0805)
Total Marks: 60 Marks
Answer all the questions.
1. Journalise the following transactions: (10 Marks)
01.01.09 Bought goods for Rs.10,000
02.01.09 Purchased goods from X Rs.20,000
03.01.09 Bought goods from Y for Rs.30,000 against a current dated cheque
04.01.09 Purchased goods from Z [price list price is Rs.30,000 and trade
discount is 10%]
05.01.09 Bought goods of the list prce of Rs.1,25,000 from M less 20% trade
discount and 2% cash discount. Paid 40% of the amount by cheque
06.01.09 Returned 10% of the goods supplied by X
07.01.09 Returned 10% of the goods supplied by Y
1. Explain errors of omission and errors of commission. (10 Marks)
2. From the following balances extracted from Trial balance, prepare Trading Account.
The closing stock at the end of the period is Rs. 56000 (20 Marks)
Particulars Amount in Rs.
Stock on 1-1-2004 70700
Returns inwards 3000
Returns outwards 3000
Purchases 102000
Debtors 56000
Creditors 45000
Carriage inwards 5000
Carriage outwards 4000
Import duty on materials received from
abroad
6000
Clearing charges 7000
Rent of business shop 12000
Royalty paid to extract materials 10000
Fire insurance on stock 2000
Wages paid to workers 8000
Office salaries 10000
Cash discount 1000
Gas, electricity and water 4000
Sales 250000
3. Why wealth maximization is superior to profit maximization? (10 Marks)
4. Following are the extracts from the Trial Balance of a firm as on 31st March 20X7
(10 Marks)
Dr Cr
Sundry Debtors 2,05,000
Provision for Doubtful Debts 10,000
Provision for Discount on Debtors 1,800
Bad Debts 3,000
Discount 1,000
Additional Information:
1) Additional Bad Debts required Rs.4,000
2) Additional Discount allowed to Debtors Rs.1,000
3) Maintain a provision for bad debts @ 10% on debtors
4) Maintain a provision for discount @ 2% on debtors
Required: Pass the necessary journal entries and show the relevant accounts including final
accounts.
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