University Of Pune Question Paper
D.T.L. Examination, 2010
BOOK KEEPING AND ACCOUNTANCY (Paper – I)
(Old) (2005-Course)
Time : 3 Hours Max. Marks : 100
N.B. : 1) Q. No. 1 is compulsory and solve any five of the
remaining.
2) Figures to the right indicate full marks.
1. After considering the under mentioned information, prepare a Trading and Profit
and Loss Account for the year ended 31st March 2007 and a Balance Sheet as on
that date from the Trial Balance of a manufacturer.
Trial Balance
Dr. (Rs.) Cr. (Rs.)
Capital account 2,03,000
Drawing Account 15,000
Free hold Land and Premises 90,000
Plant and Machinery 40,000
Loose Tools 3,000
Bills Receivable 3,000
Stock 45,000
Purchases 51,000
Wages 20,000
Carriage 1,500
Salaries 5,000
Rent, Rates and Taxes 2,800
Discount and allowances 1,500
Bills payable – 3,800
National Bank 20,000
Cash in hand 400
Sundry Debtors 45,000 –
Sundry Creditors 40,000
Repairs and Replacement 1,800
Purchase Return 2,650
Extension of Premises 7,500
Bad debts 1,200
Advertisements 500
Goods sold 1,15,000
Sales Return 2,000
Gas and water 800
Furniture and Fixtures 1,200
General Expenses 800
Printing and stationary 450
Income Tax 5,000
3,64,450 3,64,450
Write off depreciation on Plant and Machinery at 5%, Loose tools at 15% and
Furniture at 5%. The stock on hand on 31st March 2007 amounted to Rs. 60,000.
Provide
2
1 2 % for discount on sundry debtors and 5% for doubtful debts.
Rs. 1,500 were due for wages and Rs. 450 for salaries for the month of March 2007.
The Last bill of Rs. 400 for taxes was for the half year ending 30th June 2007. 20
-3- [3841] – 1
2. Record the following transactions in the journal of Shri Kiran.
February, 2009
1. Commenced business with cash Rs. 5,000 and furniture Rs. 3,000.
3. Bought goods on credit from Deepak Rs. 5,250.
4. Sold goods for cash Rs. 1,250.
5. Paid into Bank Rs. 2,000.
7. Purchased furniture and payment by cheque Rs. 700.
9. Sold goods to Anand Rs. 920.
14. Sold goods for cash Rs. 1,590.
16. Paid to Deepak Rs. 1,000 on account.
19. Paid for Life Insurance premiums Rs. 280.
21. Paid to Ramanand for commission Rs. 150.
23. Received from Anand Rs. 900 in full settlement of his account.
25. Purchased shares of Tata Co. Rs. 500 and paid for it by cheque.
27. Paid Telephone charges Rs. 320.
28. Paid to Deepak Rs. 4,200 in full settlement of his account. 16
3. From the following transactions of Sudhir, prepare cash book with cash and
discount column and balance the cash book.
May, 2009
1. Cash balance in hand Rs. 1,500.
3. Received for cash sales Rs. 1,280.
5. Received from Mr. Anil Rs. 2,140 and allowed him discount Rs. 60.
7. Paid to Mr. Summer Rs. 680 in full settlement of his account of Rs. 700.
10. Purchased goods for cash Rs. 1,000 less 20% trade discount and 5%
cash discount.
14. Sold goods for Rs. 3,000 at 10% trade discount for cash to Mr. Anil.
15. Mr. Amir settled his account of Rs. 900 by paying Rs. 880.
17. Paid cash to Mihir Rs. 1,500 less discount 2%.
18. Deposited into Bank Rs. 2,000.
20. Received cash from Timir Rs. 2,000 off 3%.
22. Paid Residential rent of Mr. Sunil Rs. 600.
24. Remitted to Mr. Kunal Rs. 270 and he allowed discount Rs. 30.
26. Received dividend on shares Rs. 450.
28. Paid office rent Rs. 300 and paid for office stationery Rs. 70.
31. Paid salaries Rs. 400.
31. Cash stolen Rs. 340. 16
[3841] – 1 -4-
4. Rectify the following mistakes committed by an inexperienced clerk Mr. Average.
1) A purchase of Rs. 1,000 from Mr. Dilip, instead of being credited to him from
purchase book has been wrongly debited to his account with the same amount.
2) A payment of Rs. 1,000 made to Mr. Swarup for cash purchase of goods
from him, stands debited to his account.
3) Total of purchase book is taken more by Rs. 100.
4) Goods sold to Mr. Yogesh, of Rs. 400 has been entered in the purchase day
book and posted accordingly.
5) Commission received Rs. 200 has been posted to the debit of Commission A/c.
6) A sales of Rs. 720 was entered in the Sales Book as Rs. 270 and posted
accordingly to the Customers A/c. 16
5. X and Y are partners sharing profit and losses in the ratio of 3 : 2. They admit Z
into partnership for 4
1 share in profits. Calculate the new ratio. 16
6. Gopal bought machinery worth Rs. 60,000. It is decided that depreciation should
be charged at fixed rate of 5% on original cost. Show Machinery Account as it
would appear for first four years.
Also prepare Machinery Account assuming that depriciation is charged at 10%
on reducing balance method. 16
-5- [3841] – 1
7. Ascertain the value of goodwill of P.Co. Ltd. carrying on business as retail traders
from the following information.
Balance Sheet as on 31st Dec. 1978
Rs. Rs.
Paid up Capital : Goodwill at cost 25,000
2500 shares of Rs. 100 each 2,50,000 Land and building at cost 1,10,000
Profit and Loss A/c 56,650 Plant and Machinery –
Bank overdraft 58,350 at cost less depreciation 1,00,000
Sundry creditors 90,500 Stock at cost 1,50,000
Provision for Taxation 19,500 Book Debts less provision
for doubtful debts 90,000
4,75,000 4,75,000
The company commenced operating in 1974 with a paid up capital as aforesaid
of Rs. 2,50,000. The profit earned, before providing for taxation, have been as
follows :
Rs.
1974 – 61,000
1975 – 64,000
1976 – 71,500
1977 – 78,000
1978 – 85,000
You may assume that income tax at the rate of 50% has been payable on these
profits. The average dividend paid by the co. for the four years is 10% which is
taken as reasonable return expected on the capital invested in the business. 16
8. Write short notes on any two :
a) Accounting standards issued by ICAI.
b) Classification of accounts.
c) Subsidiary books. 16
———————
D.T.L. Examination, 2010
BOOK KEEPING AND ACCOUNTANCY (Paper – I)
(Old) (2005-Course)
Time : 3 Hours Max. Marks : 100
N.B. : 1) Q. No. 1 is compulsory and solve any five of the
remaining.
2) Figures to the right indicate full marks.
1. After considering the under mentioned information, prepare a Trading and Profit
and Loss Account for the year ended 31st March 2007 and a Balance Sheet as on
that date from the Trial Balance of a manufacturer.
Trial Balance
Dr. (Rs.) Cr. (Rs.)
Capital account 2,03,000
Drawing Account 15,000
Free hold Land and Premises 90,000
Plant and Machinery 40,000
Loose Tools 3,000
Bills Receivable 3,000
Stock 45,000
Purchases 51,000
Wages 20,000
Carriage 1,500
Salaries 5,000
Rent, Rates and Taxes 2,800
Discount and allowances 1,500
Bills payable – 3,800
National Bank 20,000
Cash in hand 400
Sundry Debtors 45,000 –
Sundry Creditors 40,000
Repairs and Replacement 1,800
Purchase Return 2,650
Extension of Premises 7,500
Bad debts 1,200
Advertisements 500
Goods sold 1,15,000
Sales Return 2,000
Gas and water 800
Furniture and Fixtures 1,200
General Expenses 800
Printing and stationary 450
Income Tax 5,000
3,64,450 3,64,450
Write off depreciation on Plant and Machinery at 5%, Loose tools at 15% and
Furniture at 5%. The stock on hand on 31st March 2007 amounted to Rs. 60,000.
Provide
2
1 2 % for discount on sundry debtors and 5% for doubtful debts.
Rs. 1,500 were due for wages and Rs. 450 for salaries for the month of March 2007.
The Last bill of Rs. 400 for taxes was for the half year ending 30th June 2007. 20
-3- [3841] – 1
2. Record the following transactions in the journal of Shri Kiran.
February, 2009
1. Commenced business with cash Rs. 5,000 and furniture Rs. 3,000.
3. Bought goods on credit from Deepak Rs. 5,250.
4. Sold goods for cash Rs. 1,250.
5. Paid into Bank Rs. 2,000.
7. Purchased furniture and payment by cheque Rs. 700.
9. Sold goods to Anand Rs. 920.
14. Sold goods for cash Rs. 1,590.
16. Paid to Deepak Rs. 1,000 on account.
19. Paid for Life Insurance premiums Rs. 280.
21. Paid to Ramanand for commission Rs. 150.
23. Received from Anand Rs. 900 in full settlement of his account.
25. Purchased shares of Tata Co. Rs. 500 and paid for it by cheque.
27. Paid Telephone charges Rs. 320.
28. Paid to Deepak Rs. 4,200 in full settlement of his account. 16
3. From the following transactions of Sudhir, prepare cash book with cash and
discount column and balance the cash book.
May, 2009
1. Cash balance in hand Rs. 1,500.
3. Received for cash sales Rs. 1,280.
5. Received from Mr. Anil Rs. 2,140 and allowed him discount Rs. 60.
7. Paid to Mr. Summer Rs. 680 in full settlement of his account of Rs. 700.
10. Purchased goods for cash Rs. 1,000 less 20% trade discount and 5%
cash discount.
14. Sold goods for Rs. 3,000 at 10% trade discount for cash to Mr. Anil.
15. Mr. Amir settled his account of Rs. 900 by paying Rs. 880.
17. Paid cash to Mihir Rs. 1,500 less discount 2%.
18. Deposited into Bank Rs. 2,000.
20. Received cash from Timir Rs. 2,000 off 3%.
22. Paid Residential rent of Mr. Sunil Rs. 600.
24. Remitted to Mr. Kunal Rs. 270 and he allowed discount Rs. 30.
26. Received dividend on shares Rs. 450.
28. Paid office rent Rs. 300 and paid for office stationery Rs. 70.
31. Paid salaries Rs. 400.
31. Cash stolen Rs. 340. 16
[3841] – 1 -4-
4. Rectify the following mistakes committed by an inexperienced clerk Mr. Average.
1) A purchase of Rs. 1,000 from Mr. Dilip, instead of being credited to him from
purchase book has been wrongly debited to his account with the same amount.
2) A payment of Rs. 1,000 made to Mr. Swarup for cash purchase of goods
from him, stands debited to his account.
3) Total of purchase book is taken more by Rs. 100.
4) Goods sold to Mr. Yogesh, of Rs. 400 has been entered in the purchase day
book and posted accordingly.
5) Commission received Rs. 200 has been posted to the debit of Commission A/c.
6) A sales of Rs. 720 was entered in the Sales Book as Rs. 270 and posted
accordingly to the Customers A/c. 16
5. X and Y are partners sharing profit and losses in the ratio of 3 : 2. They admit Z
into partnership for 4
1 share in profits. Calculate the new ratio. 16
6. Gopal bought machinery worth Rs. 60,000. It is decided that depreciation should
be charged at fixed rate of 5% on original cost. Show Machinery Account as it
would appear for first four years.
Also prepare Machinery Account assuming that depriciation is charged at 10%
on reducing balance method. 16
-5- [3841] – 1
7. Ascertain the value of goodwill of P.Co. Ltd. carrying on business as retail traders
from the following information.
Balance Sheet as on 31st Dec. 1978
Rs. Rs.
Paid up Capital : Goodwill at cost 25,000
2500 shares of Rs. 100 each 2,50,000 Land and building at cost 1,10,000
Profit and Loss A/c 56,650 Plant and Machinery –
Bank overdraft 58,350 at cost less depreciation 1,00,000
Sundry creditors 90,500 Stock at cost 1,50,000
Provision for Taxation 19,500 Book Debts less provision
for doubtful debts 90,000
4,75,000 4,75,000
The company commenced operating in 1974 with a paid up capital as aforesaid
of Rs. 2,50,000. The profit earned, before providing for taxation, have been as
follows :
Rs.
1974 – 61,000
1975 – 64,000
1976 – 71,500
1977 – 78,000
1978 – 85,000
You may assume that income tax at the rate of 50% has been payable on these
profits. The average dividend paid by the co. for the four years is 10% which is
taken as reasonable return expected on the capital invested in the business. 16
8. Write short notes on any two :
a) Accounting standards issued by ICAI.
b) Classification of accounts.
c) Subsidiary books. 16
———————
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