No.

of Printed Pages : 8 I ECO-00 2 I

BACHELOR'S DEGREE PROGRAMME

C\1
M Term-End Examination
(3) December, 2017
ELECTIVE COURSE : COMMERCE
ECO-002 : ACCOUNTANCY-I
Time : 2 Hours Maximum Marks : 50
Weightage : 70%

Note : Attempt any four questions, including question no. 1

which is compulsory.

1. Attempt any two questions from the following : 7+7

(a) What do you understand by Dual Aspect
Concept. Explain its accounting
implications.
(b) What do you mean by Trial Balance ? State
the errors which are not disclosed by the trial
balance.
(c) What is Bank Reconciliation Statement ?
State its advantages.
(d) Prepare an imaginary specimen of a bill of
exchange, and state the purpose of noting
thereon.

2. (a) State the procedure to be followed for 6+6

preparing Receipts and Payments Account
from the Income and Expenditure Account.

ECO-002 1 P.T.O.
 (b) The following items relate to a sports club.
Show how subscriptions will appear in the
Income and Expenditure Account of the
club for the year 2014-15 and its Balance
Sheet as on 31-3-2015.

Subscriptions received during the 1,84,000

year 2014-15
Subscriptions outstanding as 18,000
on 31-03-2014
Subscriptions received in advance 11,600
as on 31-03-2014
Subscriptions outstanding 13,600
as on 31-03-2015
Subscriptions received in advance 6,000
as on 31-03-2015

3. Mr. Ahuja did not keep proper books of accounts. 12

However, the following information is available
from his records, for the year ending March 31st,
2015 :
as on as on
31 - 03 - 14 31 - 3 - 15

Cash in hand and at bank 20,000 36,000

Stock on hand 3,00,000 2,60,000
Sundry Debtors 2,50,000 2,90,000
Machinery 4,00,000 4,00,000
Sundry Creditors 2,00,000 1,85,000

ECO-002 2
 Summary of cash Transactions
z
Cash paid to
Balance b/d 20,000 creditors 5,50,000
Cash received from
Debtors 8,65,000 Wages 1,01,000
Cash sales 42,000 S. Expenses 66,000
Sale of old
newspaper 2,000 Bldgs. purchased 1,50,000
Loan from Drawings 46,000
Mrs. Ahuja 20,000
(@ 6% p.a. on
1-10-14)
Balance c/d 36,000
9,49,000 9,49,000

Additional Information :
(a) During the year Z 5,000 had to be written
off as bad.
(b) Provide Depreciation @ 15% on machinery.
(c) Outstanding expenses were 8,000.
Prepare Ahuja's Trading and Profit & Loss
Account for the year ending March 31st, 2015 and
the Balance sheet as on that date.
4. Write short notes on the following : 4+4+4
(a) Depletion Method of Providing
Depreciation.
(b) Imprest system of cash.
(c) Sinking Fund to Repay a Liability.
5. (a) Explain different types of errors with 6+6
suitable examples.
(b) Prepare Manufacturing Account from the
following data relating to the year ended
on 31st December, 2014.

ECO-002 3 P.T.O.
 Raw materials purchased 4,00,000
Stock of raw materials on 1.1.2014 40,000
Work-in-Progress on 1.1.2014 20,000
Factory Wages 60,000
Factory Rent 20,000
Fuel & Power 8,000
Carriage Inwards 4,000
Repairs of Plant 8,000
Depreciation of plant 20,000
Sale of Scrap 2,000
Stock of raw materials on 31-12-2014 80,000
Stock of Work-in-Progress on 30,000
31-12-2014

6. (a) A and B entered into a joint venture 8+4

agreeing to share profits and losses equally.
The following transactions took place during
the course of the venture.

A Bought goods for cash 2,50,000

B Bought goods for cash 7,00,000
A Paid storage charges 50,000
B Paid freight & insurance 80,000
B Sold goods for cash 7,00,000
B Received 3% commission
on sales made by him
Sales made by A 5,00,000
Commission payable to A 15,000
B Took over the unsold stock 56,000

Prepare the necessary ledger accounts in the

books of A, assuming that the accounts have
been finally settled between them.
(b) Distinguish between normal and abnormal
loss with an example.

ECO-002 4
 1.111.311.-0 02

31ATTU/7 31.W : 50
T-6 :70
: 1;1717 WIT siql . drH ffisell 1 Fiftrff e
wir*- arf5-orzi ti

1. (go t fffft17 : 7+7

(a) rg ,itzi 40hC4-11 r c c 4 t? rltgiattuI 1:1T
TriTra c4.1 I tSei I 1-F-AR
(b) cl(14d zErr ffFrzi t? arif-4t
-
gRI
(c) TrITRTri fa-atur *Err t? -p:rk
*If-4R
(d) ff
*f-zr- fd-d713T * 31MITT Fa r-v-iq "*7
i)ei it W-A7 -ff2TT TR 1.1R.ii cht41-3-0"zr AT-47 I
2. (a) 374-044 41 NI; tf "3Tirl7f i Wrdri tglc11' 6+6
etA * rm.
aTcrffrt ,TO atoll ehi4rarq*1 - eeiRsqr

(b) Trk .)TcrItTr •

2014-15 * * aTrzr-vAq j .•4T
31 iirci 2015 r gild Trtz1f-*74
51*rT turl
- ?

ECO-002 5 P.T.O.
 z
2014-15 t zip kl kl 1,84,000

31 HI -4 2014 t 3T T1 -4c1 18,000

31 1-11 -ri 2014 t 3 4 -51171 riqf 11,600

31 I-114 2015 -ciqt 13,600

31 1414 2015 '")- 33fTAT1 6,000

Tia 131 2015 - NIT 7 12

3. 31171'4 1:0 - 1?1
tr4 girl -44 t zgk3ifi-T4d14 Avictot l

ztrffaT :
31-03-14 1R 31-3-15 TIT

tr-*77 114 20,000 36,000

(..dict) 3,00,000 2,60,000

raNq 2,50,000 2,90,000

1:17tift 4,00,000 4,00,000

clq - tqlk 2,00,000 1,85,000
9--*7 W140:1

20,000 -.),KRI
vi tl kr 5,50,000
tEr N

8,65,000 1:170 1,01,000

-51TRI
42,000 fqfqq 66,000
lab< i4-*--74
2,000 1,50,000
wirciittOt off fwzr
20,000 3117uT 46,000
tzTal' 317-474 TIM %lei
(1-10-14 6% 3fra-di

714)
36,000
*1E1
9,49,000 9,49,000

ECO-002 6
 3T t~ahi :
(a) Z 5,0001 37:IfffrUff 7T4 t I
(b) 1:17117# TIT 15%" 114K.1 z11-11 t
(c) 3T- 7 04-► 4► Z 8,000 4 I
31174 2015 "Q. TR17 tr4 arc)
4 c4iiLlik721TT`I-Tir-f 3t-{314 faf4 .Q. TITIT7f
tr4 1=i* zut 4 4-4(4 *1-F-7R
4. -1 4-1 CI (VI ITT #NTRT ffuR : 4+4+4
(a) trilVki * -5FT4tTri aTqkrzi (Depletion) ?Oil I
(b) lcbc(-14 311)Tzt (-1 4rvi
(c) (irr-dri triTAtTff f91.4 (Sinking
Fund) I
5. (a) arliZzilfaf d 3qWul . 6+6
Tri-o otiRsit
(b) 31 t11-4-{, 2014 t TRT7F
4-1 .1-45..a
- 7471 A fqf-i-grfuT TAT TT
(Manufacturing Account) i)tiit -4i7R :
z
cry.4 trr . wzr 4,00,000
1.1.2014 ct) 4-11cl T tz► ezt) 40,000
1.1.2014 4-Ito 20,000
tV4Zt T1-40 60,000
f*-Trzrr 20,000
teTi LIT.R 8,000
aim* 117 4,000
8,000
4 -c-t1
14 20,000
t7i fez 2,000
31.12.2014 etrio I-110 80,000
31.12.2014 31-59fifff tzTct 30,000

ECO-002 7 P.T.O.
6. (a) A 72.11 B Bch add 34911 41 tsRles:R 8+4
4e.-1 airq-rT TR -q-rrr-rt 71 34911 41

-1 1-1 (-1 (1 cs -I -I 7:

A A lcbq 1-11c1 1T 2,50,000

B WTIT 7,00,000
A A
- .61u TTUR f*--44T 50,000
B 977 0114-11 ce4q *TT IIITUR 80,000
fi
B lchq 41111 , -c41 7,00,000
B 7T-ft SRI TR 4-11(4 TR 3%

A gRi f*--zrt TrzfT f4-*--zt 5,00,000

A 1 c11 4-1 15,000
B A ctto -pit 4-11 o fT1T 56,000
airtni 3if-aiit-m4f-*--d-rq
1.)k tA obl -g- r-4

(b) Tti Ika 3-1T[TRTI X11,1 TTFO

0c11. 1 1

ECO-002 8