DCA102 Accounting Fundamentals DCA Question Paper : tmu.ac.in
University : Teerthanker Mahaveer University
College : Teerthanker Mahaveer College of Management & Computer Applications
Degree : DCA (Diploma in Computer Application)
Subject : DCA102 Accounting Fundamentals
Semester : I
Document Type : Question Paper
Website : tmu.ac.in
Download Previous/ Old Question Papers : https://www.pdfquestion.in/uploads/tmu.ac.in/5788-oldquestiondca201011.pdf
Accounting Fundamentals :
DCA I SEMESTER EXAMINATION 2010-11
Course Code : DCA102
Paper ID: 0121102
Related : Teerthanker Mahaveer University DCA101 Economic Environment of Business DCA Question Paper : www.pdfquestion.in/5789.html
Time : 3 Hours
Max. Marks: 75
Note : Attempt six questions in all. Q. No. 1 is compulsory.
1. Define any five of the following (limit your answer in 50 words) : (3×5=15)
a) Matching concept.
b) Joint Venture
c) Bills of Exchange
d) Deferred Revenue Experience
e) Equity
f) Liability
g) Money measurement concept
h) Errors in Trial Balance
2. Mr. Prabir, a trader of graphics, found that his bank balance on 31-03- 2010 was Rs. 17290 but this was only Rs. 14705 as per current account statement supplied by his banker. You are required to prepare a bank reconciliation statement.
On scrutiny the following information is available :
i) Cheques deposited but not cleared Rs. 5270
ii) Cheques issued for payment but not presented Rs. 1400
iii) Cash book page no. 51 is overcast by Rs. 100
iv) A withdrawal of Rs.4500 has been wrongly entered in the statement as Rs. 5400
v) Collection agent directly deposited into the bank Rs. 3200
vi) Bank collected Dividend from UTI Rs. 1200
vii)Cheques dishonored Rs. 2100
viii) Bank charges for dishonored cheque Rs. 15
3. Explain the purpose of ratio analysis. Comment on its limitations, if any. (12)
4.a) Briefly explain the qualitative characteristics of accounting. (6)
b) Mr. Amulya carries out a sole proprietorship business. As on 31st Dec. 2008 he valued sock-in-trade at cost following FIFO method of valuation. Again in 2010 he calculated the historical cost on the basis of simple average. Which accounting concept was violated in the process- Which qualitative characteristic was affected- Explain.
5.a) What is bill of exchange- How do you compute the due date of a bill of exchange- What is grace period- (6)
b) Find out the due dates of the following bills : (2+2+2)
i) Drawn on 11-03-09 payable after 3 months.
ii) Drawn on 08-03-09, payable after 1 month. 11th April 2009 wasa Sunday.
iii) Drawn on 26-02-09, payable after ninety days.
6.a) Distinguish between Capital Expenditure and Revenue Expenditure with the help of suitable examples. (6)
b) What does Balance Sheet Communicate- What are the limitations of Balance Sheet information- (6)
7. Comment on the following statements : (6×2=12)
a) Sub-division of the Journal has made the journal proper useless.
b) Trail balance and Balance Sheet serve the same purpose.
8.a) Explain ‘first-in-first-out method’ and ‘weighted average method’ of inventory valuation. (6)
b) Define Net Realizable Value- Why are inventories valued at lower of the historical cost and net realizable value- (6)
Re-appear DCA I (First) Semester Examination 2012-13 :
Course Code : DCA102
Paper ID : 0811202
Time : 3 Hours
Max. Marks : 70
Max Marks : 75
Note : Attempt six questions in all. Q. No. 1 is compulsory.
1. Answer any five of the following (limit your answer to 50 words): (4×5=20)
a) What do you understand by accounting?
b) What do you mean by term accounting concepts and conventions’?
c) What is a Trial Balance?
d) Define journal proper.
e) How is Manager’s Commission calculated?
f) Differentiate between provisions and reserves.
g) Write any three merits of providing depreciation by Diminishing Balance Method.
h) Explain one sided error with the help of an example.
2. What is journal? Why is it called a book of original entry? Explain its performa and rules of journalizing? (10)
3. What do you understand by accounting cycle? Which parties use accounting information and why? (10)
4. Assuming at least five adjustments, prepare a Trading and Profit and Loss Account and Balance Sheet with imaginary figures. (10)
5. A machinery was purchased by Prem Ltd. for `3,50,000 on 1st July 2009. The machinery is depreciated @ 15% p.a. on straight line method. The machinery was sold on 1st October 2011, for `1,80,000. You are required to prepare Machinery Account, if the books are closed on 31st March every year. (10)
6. X draws a bill on Y for `2,00,000. Bill is payable after three months. Y accepts the bill and returned to X on 1st March, 2012. On 4th April, 2012, X gets the bill discounted from bank at 24% p.a. The bill is dishonored on due date and bank pays `500 as noting charges.
On the same date X draws a new bill payable after two months for `80,000 plus interest @ 24% p.a. and the balance amount is received from Y in cash. New bill is duly honored on due date. Pass journal entries in the books of X. (10)
7. What do you mean by suspense account? How is suspense account used in the rectification of errors? Explain with suitable illustration. (10)