Past Question Paper
ECO-2
No. of Printed Pages : 7
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
December, 2012
ELECTIVE COURSE : COMMERCE
ECO-2 : ACCOUNTANCY-I
Maximum Marks : 50
Time : 2 Hours
Note : Attempt any four questions, including question no. 1 which is compulsory.
1.
Answer any two of the following :
(a)
7+7
Distinguish between Income and
Expenditure Account and Receipts and
Payments Account.
(b)
What do you mean by invoice price ? Give reasons for consigning the goods at invoice price. (c)
What is cost concept ? Explain its accounting implications with examples.
(d)
Discuss briefly the utility of debit note, credit note and invoice.
2.
(a) What do you mean by Sectional Balancing ? 6+6
How does it differ from self-balancing ?
(b) Differentiate between Provisions and
Reserves.
ECO-2
1
P.T.O.
3.
Radha & Co., Bombay sent on consignment to 12
Krishna & Co., Chennai 100 Fans, invoiced at
Rs. 100 each on 5th June, 2009. Radha & Co. paid Rs. 2000 for dispatch of goods to the consignee. Consignee remitted Rs. 6000 as an advance by bank draft on 20th June 2009. The consignee is entitled to a commission of 10% on the sale proceeds. On receipt of goods the consignee paid Rs. 2000 for godown charges. On
30th June, 2009 Krishna & Co. sent an Account sales showing that the fans have realised Rs. 250 each. He remits the amount due to Radha & Co.
Prepare ledger accounts in the books of the consignor. 4.
The Trial Balance of M/S Mohan Brothers shows 12 the following balances as on 31.12.2010 :
Purchases
Sales Return
Machine
Opening Stock
Discount allowed
Bank charges
Debtors
Salaries
Wages
Carriage inward
Carriage outward
Rent paid
Bad debts
Cash at Bank
ECO-2
Rs.
60,000
1,500
90,000
40,000
350
100
45,000
7,000
10,000
1,000
1,200
2,000
2,000
7,000
2,67,150
2
Rs.
Capital
1,13,075
Sales
1,27,000
Purchase Returns
1,275
Discount Received
800
No. of Printed Pages : 7
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
December, 2012
ELECTIVE COURSE : COMMERCE
ECO-2 : ACCOUNTANCY-I
Maximum Marks : 50
Time : 2 Hours
Note : Attempt any four questions, including question no. 1 which is compulsory.
1.
Answer any two of the following :
(a)
7+7
Distinguish between Income and
Expenditure Account and Receipts and
Payments Account.
(b)
What do you mean by invoice price ? Give reasons for consigning the goods at invoice price. (c)
What is cost concept ? Explain its accounting implications with examples.
(d)
Discuss briefly the utility of debit note, credit note and invoice.
2.
(a) What do you mean by Sectional Balancing ? 6+6
How does it differ from self-balancing ?
(b) Differentiate between Provisions and
Reserves.
ECO-2
1
P.T.O.
3.
Radha & Co., Bombay sent on consignment to 12
Krishna & Co., Chennai 100 Fans, invoiced at
Rs. 100 each on 5th June, 2009. Radha & Co. paid Rs. 2000 for dispatch of goods to the consignee. Consignee remitted Rs. 6000 as an advance by bank draft on 20th June 2009. The consignee is entitled to a commission of 10% on the sale proceeds. On receipt of goods the consignee paid Rs. 2000 for godown charges. On
30th June, 2009 Krishna & Co. sent an Account sales showing that the fans have realised Rs. 250 each. He remits the amount due to Radha & Co.
Prepare ledger accounts in the books of the consignor. 4.
The Trial Balance of M/S Mohan Brothers shows 12 the following balances as on 31.12.2010 :
Purchases
Sales Return
Machine
Opening Stock
Discount allowed
Bank charges
Debtors
Salaries
Wages
Carriage inward
Carriage outward
Rent paid
Bad debts
Cash at Bank
ECO-2
Rs.
60,000
1,500
90,000
40,000
350
100
45,000
7,000
10,000
1,000
1,200
2,000
2,000
7,000
2,67,150
2
Rs.
Capital
1,13,075
Sales
1,27,000
Purchase Returns
1,275
Discount Received
800