LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

MS 25

B.Sc. / BCA DEGREE EXAMINATION – Comp. Sci. / Comp. App.

FOURTH SEMESTER – APRIL 2007

CO 4203 / CO 3102/CA 3101- ACCOUNTS AND BUSINESS APPLICATIONS

 

 

Date & Time: 26/04/2007 / 1:00 – 4:00          Dept. No.                                                     Max. : 100 Marks

 

 

 

SECTION – A

Answer  ALL the questions:                                                        (10 x 2 = 20 marks)

1. What is meant by sundry debtors?
2. Explain depreciation.
3. Distinguish between cash discount and trade discount.
4. What do you mean by the term “debit note”?
5. Define “Accounting”.
6. Following is the list of various accounts. Find out which are real , nominal or personal account:

1. a) Commission account            b)Freight account
2. c) Machinery account d) Bank account

1. Prepare Single column cash book of Mr.Karan

April 2005

1        Cash in hand                            Rs. 5,000

9         Bought goods for cash            Rs. 2,000

16        Sold goods to Nikil for cash   Rs. 8,000

23       Purchased furniture                 Rs. 5,000

26       Received Interest                    Rs. 400

30       Paid Rent                                Rs. 1,500

1. Prepare trial balance from the following:

Opening stock     — 10,600         Wages               — 2,200        Carriage inward     —      200

Purchases            — 12,000        Trade expenses   — 1,020

Rent& Repairs    —      960            Furniture       — 2,600        Cash in hand         —    1,200

Debtors               —  3,000             Drawings      — 1,200        Sales                    —  25,350

Discount received —     400             Capital                     — 7,000        Creditors               —    2230

1. Rectify the following errors with suspense A/c:

1. a) Sales book was undercast by Rs. 400
2. b) Wages paid to workers Rs.2,000 has been wrongly posted as 3,000 in

Cash a/c

1. Mr. Samuel bought a plant for Rs. 40,000 and spent Rs. 400 for its installation.  The machine is expected to have a life of  5 years and the estimated scrap value is Rs.1,200 at the end of its life.  Calculate the rate of depreciation.

 

SECTION – B

Answer any FIVE Questions:                                                                  (5 x 8 = 40 marks)

 

1. a)   What is meant by “Business entity concept”?

1. What are the three golden rules of accounting?
2. What is a trial balance?
3. What is error of principle?

 

1. Journalise the following transactions in books of Mr. Jayakumar

 

2004 April    1   5 9 13 17 21 27 30

Started business with cash Rs.2,00,000 , building Rs.2,00,000 and Machinery Rs. 4,00,000 Purchased goods from Kamesh Bros., for cash  Rs. 40,000 Paid into bank Rs.10,000 Sold goods to  Srikanth on credit Rs.15,000 Bought Furniture from M/s Modern Furn on credit Rs.30,000 Final settlement made by Srikanth Rs.14,900 Withdrew cash from bank for personal use Rs.7,000 Paid Salaries Rs.20,000; 30% paid by cash and 70% by cheque

1.  Prepare a double column cash book with cash and discount of Mr. Samuel

May 2004 1 4 6 8 12 16 22 26 28 29 30

Cash in hand  Rs. 8,000 Purchased goods for cash  Rs.4,000 Received cash from Lalitha  Rs.2,500 Sold goods to Santhosh on credit Rs. 13,000 Purchased goods from Ram on credit Rs. 20,000 Santhosh settled his account in full Rs. 12,850 Purchased furniture for cash Rs. 19,000 Settled Ram by cash Rs.19,800 and discount received Rs.200 Sold good to Mahesh for cash Rs.26,000 Sold old Machinery to M/s Varun & Co on credit Rs. 36,000 Received cash from Mahesh Rs.10,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. From the particulars given below draw the stores ledger card:

 

2000 July 1	Opening stock     3000 units   @ Rs.10 each
3	Issued                  1,250 units
9	Purchased               750 units  @ Rs. 12.50 each
11	Issued                  1,250 units
23	Purchased            3,000 units  @ Rs. 14 each
24	Issued                  2,000units
28	Issued                     800 units
30	Purchased               450 units  @ Rs. 10.50 each

 

 

 

 

 

 

 

 

 

Adopt the FIFO method of issue and determine the value of closing stock

 

1. Jasmine manufacturing company has drawn up the following P & L A/c  for the year ended 31^st March 2006

Particulars	Rs.	Particulars	Rs.
To opening stock To Purchases To Wages To Manufacturing expenses To Gross profit     To Selling expenses To Administration expenses To Distribution expenses To Interest on loan To Net Profit	26,000 80,000 24,000 16,000 52,000	By Sales By closing stock           By gross profit By compensation for acquisition of land	1,64,000 38,000
	1,98,000		1,98,000
	4,000 22,800 1,200 800 28,000		52,000     4,800
	56,800		56,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Calculate the following ratios:   a) Gross profit ratio       b) Net profit ratio

1. c) Selling & distribution expenses ratio
2. d) Finance expenses ratio

1. Prepare a bank reconciliation statement from the following data as on 31-1-2004:

• Debit Balance as per cash book as on 30-11-2004 Rs.30,400
• Cheque issued on 30-11-2004 but not yet presented to bank for payment Rs.6,450
• Cheque deposited in to bank on 28^th November 2004 but not yet credited into the account Rs.1,500
• Bank interest debited in the pass book only Rs.560
• A periodic payment made to telephone department for Rs.2,300 under standing instruction not entered in cash book.
• A cheque deposited into bank is dishonoured, but no entry made in cash book. Rs. 2,900
• 3,000 deposited by a customer, Mr. Daniel directly into bank
• Interest on investment received by the bank Rs.1,150 and entered in the pass book but not recorded in cash book.

 

 

 

 

1. M/s Jackson & Co bought a machinery for Rs. 1,00,000 on 1.1.2002 and spent Rs. 20,000 on installation, 10,000 on other charges immediately after the purchase.  On 1^st September 2004 it sold the plant & machinery for Rs. 95,000 and on the same date another machinery was purchased costing Rs. 1,50,000.  It charges depreciation @ 10% p.a. under written down value method and the accounts are closed on 31^st December every year.  Prepare machinery a/c and depreciation account for 3 years.

 

1. Prepare  ledgers for the following transactions in the books of Mr. George

2005 March   3 8 11 16 24 27 30

Mr. George invested capital Rs.70,000 Bought furniture for cash Rs.10,000 Sold goods to Anjali  for cash Rs.15,000 Purchased goods from Good Luck & Co for Rs.17,000 Opened a current in Indian Bank Rs.5,000 Paid Good Luck & Co Rs.10,000 Paid Salaries    Rs.6,500

 

SECTION – C

Answer any TWO questions:                                                                   (2 x 20 = 40 marks)

 

1. From the following Trial Balance extracted from the books of  Mr. Kamal  prepare Trading and

Profit & Loss A/c and Balance Sheet for the year ended 31-12-2005

 

Debit balances	Rs.	Credit balances	Rs.
Cash at bank Good will Land & Buildings Loose tools Opening stock Carriage outwards General expenses Sundry debtors Purchases Interest on loan Carriage outwards Salaries Bad debts Repairs Power Insurance Printing & Stationery Customs duty Packing charges	5,000 10,000 12,000 3,000 9,000 1,250 1,050 11,000 10,200 120 1,800 4,000 1,000 950 2,700 850 2,150 1,000 1,150	Sales Bank Loan Capital Sundry creditors Discount received Commission received	25,000 4,000 40,000 7,000 300 1,920
	78,220		78,220

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments:

• Closing stock on 31-12-2005 Rs.15,000
• Depreciate Plant & Machinery at 10%

(c)   Provide provision for bad and doubtful debts at 5%

(d) Outstanding salaries Rs. 200

(e) Provide Interest on capital 2%

(f) Commission received in advance Rs. 320

 

 

 

 

 

 

 

1. Record the following transactions for the month of January 2006 in the proper Subsidiary books of

M/s New & Sons:

 

Jan 1       Jan 4     Jan 6 Jan 9 Jan 11   Jan 12     Jan 15           Jan 19 Jan 22 Jan 24   Jan 27     Jan 31

Purchased from M/s Brown & Co: 20 Calculators @ Rs. 550 each 10 dozen Scientific Calculators @ Rs.1,250 each Trade discount on all the above items @ 10% Sold to M/s Rahul Bros: 50 scientific calculators @ Rs.1500 each and trade discount  @ 5% 20 dozens of ball pen @ Rs.72 per dozen Returned 10 scientific calculators to M/s Brown & Co Purchased 10 dozen ball point pen @ Rs. 12 each for cash M/s Rahul  Bros returned: 1 dozen scientific calculators and 2 dozens of ball pen Sold to M/s Gopal & Co: 10 dozen accounts notebook at Rs.18 each 5 gross ink pen at Rs. 60 per dozen Purchased from M/s Vimal printers: 10 gross of 192 pages notebooks @ Rs.240 per dozen Less trade discount 5% with invoice no: 35 5 gross digital diaries @ Rs.1,000 each less trade discount 2% with invoice no: 43 3 dozen rewritable CD @ Rs. 35 each with invoice no: 49 Credit note sent to M/s Gopal & Co for Rs. 250 being over charged Sold old furniture to M/s JFA furniture mart on credit Rs. 12,000 Returned to Vimal printers: 2 gross notebooks and 3 Digital diaries bought on Jan 15 Sold to M/s Pravesh Traders: 4 dozen of 192 pages notebooks @ Rs. 300 per dozen 2 gross digital diaries @ Rs.14,400 per dozen Sent a debit note to M/s. Brown & Co  for Rs. 2000 for goods damaged in transit.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. The following are the summarized balance sheet of Madan industries Ltd.,

as on 31^st December, 2005 and 2006:

Liabilities	2005 Rs.	2006 Rs.	Assets	2005 Rs.	2006 Rs.
Capital: Preference shares Equity shares General reserve Profit & Loss A/c Debentures Current liabilities: Creditors Provision for tax Proposed dividend Bank overdraft	– 40,000 2,000 1,000 6,000   12,000 3,000 5,000 12,500	10,000 40,000 2,000 1,200 7,000   11,000 4,200 5,800 6,800	Fixed assets Less: Depreciation     Current assets: Debtors Stock Prepaid expenses Cash	41,000 11,000	40,000 15,000
				30,000     20,000 30,000 300 1,200	25,000     24,000 35,000 500 3,500
	81,500	88,000		81,500	88,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepare: (i) Statement showing changes in the working capital

(ii) A statement of sources and applications of funds.

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LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

   B.C.A. DEGREE EXAMINATION – COMPUTER APPLICATIONS

QB 04

THIRD SEMESTER – November 2008

CO 3104/CO 3102 – ACCOUNTS & BUSINESS APPLICATIONS

 

 

 

Date : 11-11-08                     Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

            PART –A

                                                                   

              ANSWER ALL QUESTIONS                              (10x 2 =20)

1. Define Accounting.
2. State the rules for debit and credit under double entry system.
3. What is meant by error of principle?
4. Write a note on going concern concept?
5. Bring out any four differences between cash discount and trade discount.
6. John bought a machine for Rs.750000 and spent Rs.25000 towards its installation. The useful life of the machine is 7 years and the estimated scrap value is Rs.100000. Calculate the rate of depreciation under Straight Line method.
7. Rectify the following errors:

(a) Rs.10000 received from Sam & Co. has been wrongly entered as from Shyam&Co

(b) An amount of Rs.1000 withdrawn by the proprietor for his own use has been  debited  to office expenses account.

8. Pass necessary adjusting entries for the following transactions:

• Wages due Rs.1000 (b) Rent received in advance Rs.20000

9. Balance Sheet of M/s.Peacock Ltd. as on 31.03.2008

Liabilities	Rs.	Assets	Rs.
Share Capital	300000	Land	825000
Reserves & Surplus	225000	Cash	375000
Bank Overdraft	350000	Stock	175000
Creditors	600000	Goodwill	100000
	1475000		1475000

Calculate Proprietary ratio

10. Prepare Bank Reconciliation Statement: (Rs.)

Balance as per Pass Book 9000                Cheques issued but not presented 15000

Cheques deposited but not credited 1500 Bank has given credit for interest 150

PART –B

                            ANSWER ANY FIVE QUESTIONS                             (5 x 8= 40)

11. Write short notes on: (a)Current assets (b) Bank Reconciliation Statement (c)Common Size statements (d)Trial Balance
12. Briefly explain the objectives of accounting.
13. What is cash flow statement? What are its utilities?
14. Journalise the following transactions:

• Started business with cash Rs.100000, Furniture Rs.200000, Machinery Rs.300000 and Bank Loan Rs.50000
• Purchased goods for cash Rs.25000, of which 50% of the payment made by cheque.
• Sold goods to Rashid Rs.50000
• Final settlement received from Rashid Rs.49500
• Paid advertising charges Rs.5000
• Cash withdrawn from bank for office use Rs.20000 and for personal use of the proprietor Rs.15000
• Paid Salaries Rs.20000 and wages Rs.5000
• Received rent by cheque and deposited at once Rs.4000

15. On 1.1.2000 M/s. Welcome Ltd. bought a second-hand machine for Rs.50000 and spent Rs.10000 for repairs. On 1.7.2001, the company bought a new machine costing Rs.100000. On 30.6.2002, the machine bought on 1.1.2000 was sold for Rs.40000. The company writes off depreciation at 12% p.a. on original cost method and closes its accounts on 31^st December every year. Show Machinery account and depreciation account for 3 years ending 31-12-2002.

Date	Particulars	Rs.
2008, Jan   1	Cash in hand	40000
2	Paid Cash into bank	8000
7	Purchased goods from Gopal	1000
10	Paid Rent	1500
12	Purchased furniture by cheque	2000
15	Sold goods to Daniel	10000
16	Final Settlement made to Gopal	975
18	Final Settlement received from Daniel	9975
20	Withdrew from bank	4000
25	Paid wages	500
30	Received from Basheer	7500
31	Withdrew for own use by cheque	1000

16. Prepare a three column cash book of a merchant to record the following transactions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

17. The following are the Balance Sheets of East Ltd. & West Ltd. As on 31-3-2008. You are required to prepare Common Size Balance Sheets.

Liabilities	EAST(Rs)	WEST(Rs.)	Assets	EAST (Rs)	WEST(Rs.)
Share Capital	50000	120000	Land & buildings	100000	200000
Reserves	20000	180000	Plant & Machinery	20000	40000
15% Debentures	80000	—	Stock	40000	60000
Bank Loan	120000	30000	Debtors	100000	45000
Creditors	40000	60000	Bills Receivable	20000	30000
Bills Payable	10000	30000	Cash	40000	45000
	320000	420000		320000	420000

        

18. From the following Balance Sheets of Ankit Ltd.,  prepare a Cash Flow Statement:

 

Liabilities	2006 (Rs)	2007(Rs.)	Assets	2006 (Rs)	2007(Rs.)
Share Capital	400000	500000	Land	100000	132000
Profit & Loss A/c.	20000	46000	Cash	60000	94000
Creditors	140000	90000	Stock	160000	180000
			Debtors	240000	230000
	560000	636000		560000	636000

 

 

 

 

 

 

 

PART –C

        ANSWER ANY TWO QUESTIONS                         (2 x 20=40)

19. From the following particulars prepare a trading and profit& loss account for the year ended 31-3-2008 and a Balance Sheet as on that date.

Debit balance	Rs.	Credit balance	Rs.
Bank	20500	Capital	80000
Drawings	6000	Creditors	10000
Machinery	25000	Sales	120000
Stock (1.4.2007)	15000	Purchase Returns	1000
Purchases	82000	Provision for bad & Doubtful debts	400
Sales returns	2000	Discount received	800
Debtors	20600	Interest received	1200
Furniture	5000
Direct expenses	2000
Carriage outwards	500
Rent	4600
Bad debts	800
Trade expenses	400
Postage	800
Insurance	700
Salaries	21300
Cash	6200
	213400		213400

Adjustments:

(a)Stock as on 31-3-2008 – Rs.50000  (b)Salaries due Rs.2700   (c)Prepaid Insurance Rs.200 (d) Depreciate Machinery @10% p.a. (e) Write off further bad debts Rs.600 and provide for  bad and doubts debts @5% on debtors.

 

20. Enter the following transactions in the subsidiary books of M/s. Blue Star Electricals.

Sep1.  Purchased from M/s.Robin Electricals	Sep. 4 Sold to M/s.Mukesh Apartments
20 Dozen -100 W Electric Bulbs @ Rs.20 each	5 Dozen – 100 W Electric bulbs @ Rs.30 each
4 Gross -40 W Tube-lights @ Rs.600 per dozen	3 No. – Mercury Bulbs @ Rs.300 each
10 No. -Mercury Bulbs @ Rs.250 each	10 Dozen – 40 W Tube-lights @ Rs. 80 each
10% Trade discount on all items	5% Trade discount on all items
Sep 10. Sold to Karun Stores	Sep .15 Bought from M/s. Wind Electricals
10 No. – 100 W Electric bulbs @ Rs.25 each	4 dozen – Ceiling fans @ Rs.750 each
2 Dozen – 40 W Tube-lights@ Rs.60 each	20 No. – Table fans @ Rs.1000 each
10% Trade discount on all items	5% Trade discount on all items
Sep. 20 Purchase returns to M/s. Robin Electricals	Sep. 30 Sales Returns from M/s.Mukesh Apartments
10 No. – 100 W Electric bulbs vide Debit note no.5	10 No -100 W bulbs vide Credit note no.3
10 No. – 40 W Tube-lights vide Debit note no.6	4 No.- 40 W Tube-lights vide Credit note no.4

 

21. The following details related to Michael Traders for the year ended 31-3-2008

Particulars	Rs.	Particulars	Rs.
To Opening Stock	75000	By Sales                             520000
To Purchases	325000	Less: Sales Returns              20000	500000
To Gross Profit	200000	By Closing Stock	100000
	600000		600000
To operating expenses		By Gross Profit	200000
Administration exp.         40000		By non-operating income:
Selling Expenses              25000	65000	Dividend                                   9000
To Non-operating expenses		Profit on sale of shares           11000	20000
Loss on sale of assets	5000
To Net Profit	150000
	220000		220000

                                  Trading & Profit & Loss account

 

                Balance sheet of Michael Traders as on 31-3-2008

Liabilities	Rs.	Assets	Rs.
Share Capital	200000	Land & buildings	150000
Reserves	100000	Plant & Machinery	80000
Creditors	150000	Stock	100000
Bills Payable	90000	Debtors	80000
		Cash	90000
	500000		500000

 

Calculate:

• Gross Profit Ratio (b) Net Profit ratio           (c) Operating Profit ratio

(d) Operating Ratio                 (e) Stock Turn over ratio (f ) Current Ratio

(g) Debtors turn over ratio      (h) Creditors turn over ratio

(i) Fixed Asset turn over ratio (j) Fixed Asset ratio

 

 

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         LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.C.A. DEGREE EXAMINATION – COMPUTER APPLICATION

KP 08

THIRD SEMESTER – April 2009

CO 3104 / 3102 – ACCOUNTS & BUSINESS APPLICATIONS

 

 

 

Date & Time: 27/04/2009 / 9:00 – 12:00  Dept. No.                                              Max. : 100 Marks

PART –A                              Answer ALL Questions

(10 x 2 = 20)

1. What do you understand by dual aspect concept?
2. What are ‘Nominal Accounts’? Give examples.
3. Briefly explain the term “Current Assets”.
4. What is meant by Compensating error?
5. Define Cash Flow Statement.
6. Siva bought a machine on 1.1.2006 for Rs.50000. This is expected to last for 5 years. The estimated residual value at the end of five years is Rs.12000. Calculate the rate of depreciation under Original Cost Method.
7. From the following details of a trader calculate “Gross profit Ratio”

Sales Rs.200000, Return outwards Rs.30000, Opening Stock Rs.40000, Purchases Rs.120000, Return inwards Rs.20000 & Closing Stock Rs.13000

8. Rectify the following errors:

• Purchase of old furniture Rs.5000 was passed through purchase book.
• 20000 received from Raja has been wrongly entered as from Raju.

9. Prepare Cash account from the details:

Date	Particulars	Amount (Rs.)
1/1/2009	Started business with cash	50000
5/1/2009	Paid into Bank	10000
12/1/2009	Purchased goods for Cash	20000
21/1/2009	Sold goods for Cash	30000
29/1/2009	Withdrew from business for own use	5000

 

 

 

 

 

 

 

 

10. Enter the following transactions in the Purchase Book of Mr.Pandian:

Date	Particulars	Amount (Rs.)
1/1/2009	Bought goods from Basheer	50000
5/1/2009	Banu sold goods to us	20000
20/1/2009	Bought goods from Anto for Cash	100000
25/1/2009	Sold goods to Kannan on credit	15000

 

PART –B                 Answer any FIVE Questions

(5 x 8 = 40)

11. Prepare a bank reconciliation statement from the following data as on 31.3.2009

Particulars	Amount (Rs.)
Balance as per cash book	25000
Cheques  issued but not presented for payment	1800
Cheques  deposited in bank but not collected	2400
Bank paid insurance premium as per the standing instruction	1000
Direct deposit made by a customer	1600
Interest on investment collected by bank	400
Bank charges	200
A wrong credit relating to some other account was found in the Pass book	2400

12. On 1.4.2000, Mr. Suresh bought a machine for Rs.8000 and spent Rs.3000 on its installation. Depreciation is written off @10% p.a. on the original cost. On 30.6.2003, the machine was found to be unsuitable and sold for Rs.6500. On the same date, another machine was bought for Rs.10000. Prepare Machinery account and depreciation account from 2000 to 2003 assuming that the accounts are closed on 31^st December every year.

 

13. Enter the following transactions in Gopal’s cash book with discount and cash columns:

Date	Particulars	Amount (Rs.)
2009, Mar  1	Cash balance	50000
5	Cash sales	30000
8	Bought goods from Davis for cash	5000
12	Cash sales to Manoj	20000
15	Sold goods to Mohan on credit	10000
18	Cash withdrawn from business for own use	3000
21	Bought goods from Cherian on credit	20000
22	Paid into bank	7000
24	Cash received from Mohan as final settlement	9950
25	Drew a cheque for office use	1000
28	Final settlement made to Cherian	19500
30	Cash Purchases	2000
30	Paid for advertising	500
31	Received commission	3500

 

14. Saleem is not an expert in accounting. He has prepared the following trial balance. You are requested to correct it and prepare a corrected Trial balance.

S.No	Name of Account	LF	Debit (Rs.)	Credit (Rs.)
1	Capital			15560
2	Sales			27560
3	Sales returns			980
4	Drawings		5640
5	Debtors			5300
6	Premises		7410
7	Purchases		12680
8	Return outwards		2640
9	Loan from Sharma			2500
10	Creditors		5280
11	Legal charges		7840
12	Cash		1420
13	Bills payable		1000
14	Wages		5980
15	Opening stock			2640
16	Factory expenses		4650
			54540	54540

15. The following information is extracted from the books of Mr. Panner:

Total Sales Rs.100000, Cash Sales Rs.20000, Sales returns Rs.7000, Debtors (31.12.2008) Rs.9000 Bills Receivable (31.12.2008) RS.2000, Provision for bad debts Rs.1000, Total purchases Rs.200000 Cash Purchases Rs.20000, Purchase returns Rs.34000, Creditors (31.12.2008) Rs.70000 Bills Payable (31.12.2008) Rs.40000. You are required to calculate: (a) Debtors Turnover ratio   (b)Average collection period   (c) Creditors turnover ratio    (d)Average payment period

16. What are the objectives of accounting?
17. How do you classify accounting conventions?
18. Write a note on common size statements.

PART –C                                       Answer any TWO Questions   (2 x 20 =40)

19. X started business on 1.1.2009. Following were the transactions for one month. You are required to pass journal entries.

Date	Particulars	Amount (Rs.)
2009,     Jan 1	Started business with:       Cash	50000
	Furniture	30000
	Goodwill	20000
3	Bought goods from Shankar on credit	10000
5	Sold goods to Raman for Cash	20000
7	Paid into Bank	5000
9	Received cheque from Shaji and banked at once	15000
10	Paid Commission	500
11	Sales returns made	3000
12	Returned goods to Shankar	2000
15	Final Settlement made to Shankar by cheque	7500
16	Withdrew from bank	1000
18	Goods withdrawn for own use	1500
19	Paid for stationery	500
21	Received interest	750
24	Bought a second-hand computer for Cash	7500
28	Paid salaries by cheque	6000
31	Received rent	4000

20. Summarized balance sheet of Karun Ltd. as on 31.3.2008 and 31.3.2009 are as follows:

Liabilities	31.3.2008(Rs.)	31.3.2009(Rs.)	Assets	31.3.2008(Rs.)	31.3.2009(Rs.)
Share Capital	450000	450000	Fixed Asset	400000	320000
General Reserve	300000	310000	Investment	50000	60000
P & L account	56000	68000	Stock	240000	210000
Creditors	168000	134000	Debtors	210000	455000
Tax Provision	75000	10000	Bank	149000	197000
Mortgage Loan	—	270000
	1049000	1242000		1049000	1242000

Additional Details:

• Investment costing Rs.8000 were sold for Rs.8500
• Tax provision made during the year was Rs.9000
• During the year, part of the Fixed Asset costing Rs.10000 was sold for Rs.12000 and the profit was included in P& L account.

You are required to Prepare Cash Flow Statement for the year ending 31-3-2009.

 

21. From the following trial balance of Kumar, prepare Trading and Profit & Loss account for the year ended 31-3-2009, and a Balance Sheet as on that date:

S.No	Name of Account	LF	Debit (Rs.)	Credit (Rs.)
1	Opening stock		13500
2	Cash in hand		1250
3	Cash at Bank		3750
4	Power		300
5	Furniture		2250
6	Purchases		70500
7	Machinery		22500
8	Drawings		1800
9	Capital			22500
10	Salaries		5400
11	Sales			126225
12	Wages		6000
13	Carriage Inwards		750
14	Carriage Outwards		450
15	Rent		1350
16	Creditors			5750
17	Provision for bad & doubtful debts			60
18	Printing charges		840
19	General expenses		180
20	Goodwill		4500
21	Discount		105
22	Insurance		210
23	Debtors		18900
			154535	154535

 

Adjustments:

• Stock as on 31-3-2009 was Rs.50000
• Wages unpaid Rs.1500
• Depreciate Furniture @10% p.a. and Machinery @ 5% p.a.
• Charge interest on Capital @2% p.a.
• Write off bad debts Rs.900 and provide for bad & doubtful debts @5% on remaining debtors.

 

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