Name of the University : IGNOU The People’s University
Department : Footwear Technology
Degree : B.Sc
Subject Code/Name : BFW-045 / Basic Accounting
Year : December, 2011
Website : ignou.ac.in
Document Type : Question Paper
Download Model/Sample Question Paper : https://www.pdfquestion.in/uploads/ignou.ac.in/6268-BFW-045.pdf
Basic Accounting Question Paper :
B.Sc. (Foot wear Technology) : (BSCFWT)
Term – End Examination :
BFW-045 :
Time : 3 hours
Maximum Marks : 70
Note : Attempt any seven questions. All questions carry equal marks.
Related : IGNOU The People’s University BFW044 Art of Public Speaking-I B.Sc Question Paper : www.pdfquestion.in/6267.html
1.X Ltd. bought a Machinery for Rs. 30,000 on 10 1st April 1997. One more machine was purchased on Oct. 1, 1997 costing Rs. 20,000. On July 1, 1998 a New Machinery for Rs. 10,000 was added to the existing Machinery. On 1St Jan 1999, one third of the Machinery which was installed on April 1, 1997 was sold for Rs. 3000. Show the Machinery A/C in the Book’s of X Ltd. the rate of depreciation is 10% on Reducing Balance Method.
2.Develop Accounting Equation for the following 10 transactions :-
(a)Rohit started business with cash Rs. 1,50,000.
(b)Goods destroyed by fire Rs. 2500.
(c)Rent paid in advance Rs. 75.
(d)Sold good’s for (profit Rs. 3000) Rs. 9000.
(e)Withdrew for private use Rs. 5000 in cash.
3. What do you mean by Kind’s of Accounts ? What 10 are the basic rules of these Accounts ? Would you classify the following Accounts ?
(a)Rent
(b)Outstanding interest
(c)Land
(d)Bank overdraft
(e)Ram (A purchaser).
4. Journalise the following transactions : 10
(a)Paid Rs. 250 in cash as wages on Installation of a Machine.
(b)Sold old machinery to Nathu for Rs. 2500.
(c)Goods worth Rs. 5000 given as charity.
(d)Out of rent paid this year, Rs. 1000 is related to next year.
(e)Received interest on Loan from the debtor Rs. 150.
5. Prepare three – Coloumn Cash Book. 10
June 1 Cash in hand Rs. 1,60,000
Bank overdraft Rs. 11,40,000
June 7 Received a cheque from Bina and
deposited into Bank of Rs. 6,50,000.
June 20 Withdrew from Bank for office use Rs. 50,000.
June 30 Income tax paid by cheque Rs. 30,000. June 30 Bank charges Rs. 5000.
6. Rectify the following error : 10
(a)A sum of Rs. 65 spent for repairing office furniture has been debited to furniture A/C.
(b)Rs. 5400 received from Mehta were posted to the debit side of his account.
(c)Discount of Rs. 2000 received was posted to the Debit of discount A/C.
(d)The Sale’s, day Book was under cast by Rs. 1100.
(e)Total of sale’s figure was taken as Rs. 58,726 instead of Rs. 58,762.
7. What do you understand by Subsidiary Books ? Explain the differences between trade discount and cash discount.
8. From the following figures, show the calculation of Bad debts and Provision for Bad debt in Profit and Loss A/C.
Provision for Doubtful debt’s Rs. 1,000
(1-4-2010)
Bad debts written off in Rs. 1200
(2010-2011)
S. Debtor’s Rs. 20,500
Adjustment :
(a)Rs. 500 treated as further Bad debt.
(b)Reserve for doubtful debts is to be maintain at 5% on debtors.
B.Sc. FOOTWEAR TECHNOLOGY : (BSCFWT)
Term-End Examination June, 2015 :
BFW-045 : Basic Accounting
Time : 3 hours
Maximum Marks : 70
Note : All questions are compulsory.
1. What are the various kinds of Accounts ? What are the Golden rules of these Accounts ? How would you classify the following Accounts : 10
(a) Depreciation
(b) Mohan (a partner of a firm )
(c) 2’s (a creditor)
(d) Bank Loan
(e) Bank
2. Prepare Accounting equations from the following 10
(a) Started business with cash 1,00,000 and goods 40,000
(b) Bought goods for cash 30,000 and credit for 20,000
(c) Paid salaries 5,000
(d) Received rent from tenants T1,000
(e) Withdrew cash for.personal use T5,000
3. What do you understand by “Rectification of Errors” ? What are the different types of errors ? Explain with the help of an example. 10
4. Journalise the following transactions : 10
(a) Goods worth 25,000 were distributed as free samples.
(b) Goods worth 5,000 and cash 4,000 were stolen by an employee.
(c) Provide interest on capital (T 50,000) at 6% for 6 months.
(d) 1,000 due from Hari is a bad debt.
(e) Paid rent by cheque of 10,000.
5. Prepare a three-column Cash Book : 10
July —1 Cash Balance 10,000
Bank Balance 50,000
July — 5 Cash Received
from sale of shares 1,00,000
July — 7 Paid Jyoti by cheque of 8,000
July — 21 Drawn from Bank 5,000
July — 30 Paid into Bank 6,000
6. Rectify the following errors : 10
(a) A credit sale of 527 to John was recorded as 725
(b) Purchase Book was undercast by 1,000
(c) X was paid cash t 5,600 but Y was debited by 5,000
(d) 120 owing by a customer had been omitted from the list of debtors.
(e) Sales return was overcast by 5,000
7. How will you adjust the following into PSC A/c : 10
Bad Debt 3,000
Provision for Bad Debt t 1,500
Sundry Debtors 22,700
Adjustment :
(a) 700 in a further Bad Debt
(b) Make 10% provision on Sundry Debtors