DEERWALK INSTITUTE OF TECHNOLOGY
FINAL TERM EXAMINATION, SEM II (BCA) SUBJECT CAAC – 152 FINANCIAL ACCOUTING
PASS MARK 24 FULL MARK 60
TIME 3 HRS DATE 23 MARCH, 2021
INSTRUCTIONS
Students should be seated in the examination hall 10 minutes prior to the conduction of examination.
Fill in the required details carefully on the front page of the answer sheet.
Malpractice observed during the examination will lead to an expulsion.
Raise your hand towards Invigilator in case you need any assistance during the examination.
Good luck and all the best.
Attempt All The Questions [10×1=10]
1. In accounting, the terms ‘Nominal account’ indicates
a. Increase & Decrease b. Left & right
c. Expenses & Income d. Assets & Liabilities
2. Users of Accounting information include
a. Suppliers b. Lenders
c. Customers d. All of the above
3. Wages paid for installation of Machinery refers to:
a. Capital expenditure b. Revenue expenditure
c. Revenue receipts d. Capital receipts
4. Who prepared the cash book?
a. Teacher b. Business Man
c. Accountant of the business d. Employee of the bank
5. A sale of goods to Ram for cash should be debited to:
a. Ram’s account b. Cash Account
c. Sales account d. Capital account
6. Resources invested by the owner refers to:
a. Assets b. Liabilities
c. Revenue d. Capital
7. The debit note issued are used to prepare:
a. Sales return book b. Purchase return book
c. Sales Book d. Purchase book
8. Sale of office Furniture should be credited to:
a. Sales account b. Furniture account
c. Purchase account d. Cash account
9. A Bank reconciliation statement is prepared by
a. The bank b. The governor
c. The Bank account holder d. The user financial statements
10. A decrease in the provision for doubtful debts would result in:
a. An increase in liabilities b. A decrease in working capital
c. A decrease in net profit d. An increase in net profit
Attempt Any Six Questions [6×5=30]
11. Following cash and banking transaction of a month are given to you.
a) Balance of cash Rs. 30,000 and bank Rs. 40,000
b) Purchased goods for Rs. 15,000, paid Rs. 5,000 on cash and balance by cheque after allowing
discount of Rs. 500.
c) rent received Rs. 12,000
d) Sale of goods Rs. 21,000 received Rs 5,000 or cash and the balance through cheque after
deduction discount of Rs. 1,600
e) Deposited cash into the bank Rs. 10,000
Required: Triple Column cash book
12. Following information are given to you.
On 30th Chaitra, the cash book showed debit balance Rs. 16,000
Cheque sent for collection Rs. 5,000 but credited by bank only Rs. 2,000
Cheque issued of Rs. 4,000 but not presented at bank
Bank interest of Rs 1,000 has been collected by bank but not recorded in cash book.
Service charges Rs. 200 shown in pass book only
A debtor directly deposited Rs. 200 into bank.
Required: Bank Reconciliation Statement.
13. The following are the transactions relating to sales return.
Baisakh 5 – Goods returned by Ram furniture Pvt. Ltd. Of Bhaktapur
10 tables @ Rs. 1000 each less 10% discount.
Baisakh 13 – Goods return by Dilip Furniture Pvt Ltd of Lalgadh
5 chairs @ Rs. 500 each
Required: Sales Return Books.
14. Prepare Trial Balance of ABC Trading Concerns on 31st Chaitra, Last year is given below:
Capital: 90,000 Cash at bank: 25,000 Account receivables: 20,000
Advertising: 15,000 Plant & Machinery: 1,60,000 Account Payable: 1,00,000
Sales: 1,50,000 Rent: 30,000 Goodwill: 45,000
Wages: 25,000 Purchase: 50,000 Bank Loan: 30,000
15. Define accounting. Who are the various users of accounting information? Explain
16. Differentiate between Going concern concept and Business entity concept.
Attempt Any Two Questions [2×10=20]
17. Following transactions are provided to you
01 March Started business with cash Rs. 200,000
04 March Deposited cash into bank Rs. 50,000
13 March Purchased goods from creditors for 80,000 and paid cash only 30,000
17 March Sold goods on cash Rs. 100,000
20 March Paid salary Rs. 15,000 through cheque
23 March Received interest Rs. 10,000
30 March Paid to creditors cash Rs. 18,000 and received Rs. 2000
31 March Return goods to creditors of Rs. 5,000
Required: Journal Entries and Creditors Account
18. The following is the trial balance of a businessman as on 31st December 2017.
Particulars Dr. Amount Particulars Cr. Amount
Opening Stock 18,000 Sales 2,20,000
Purchase 71,000 Return outwards 1,500
Return inwards 1,000 Loan 20,000
Wages 11,000 Bills payable 2,500
Carriage on purchase 2,500 Capital 40,000
Printing and Stationery 2,000 Discount received 1,000
Salaries 2,800
Insurance expenses 3,000
Plant & Machinery 120,000
Debtors 10,500
Cash at bank 11,600
Rent Expenses 6,600
Drawings 3,000
Furniture 22,000
2,85,000 2,85,000
Additional Information:
Closing stock is valued at Rs. 25,000
Depreciation on plant & machinery @ 15% & on furniture @ 10%
Outstanding wages Rs. 4,000
Prepaid insurance Rs 500.
Prepare:
a) Trading Account
b) Profit and loss account
c) Balance Sheet as on 31st December 2017.
19. Define company. Differentiate between private and public company.
