DISTANCE EDUCATION
B.Com. (CA)/B.Com. (Lateral) DEGREE
EXAMINATION, MAY 2017.
LAB III — ACCOUNTING PACKAGE
(2005 onwards)
Time 3 Hours Maximum 100 Marks
The Examiner should give ONE question to each candidate by
lot system.
1. From the following Trial Balance as on 31.12.2000,
prepare trading and profit and loss Account as on that
Date
Particulars Debit Rs. Credit Rs.
Stock as on 01.01 .2000 5,840
Cash in hand 192
Drawings 2,840
Rent 480
Machinery 3,800
Tax 600
Provision for Bad debts 420
Bad debts 888
Capital 17,000
Interest 320
General expenses 1,760
Bank overdraft 960
Purchases 41,448
Debtors 16,800
Sub. Code
35
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Sales 47,624
Creditors 8,000
Sales returns 840
Purchase returns 1,164
75,488 75,488
Adjustments
Depreciation on Machinery 10% PA.
Rent Outstanding Rs. 500
Tax Prepaid Rs. 100
Provision for Bad debts is to he increased to on
Debtors
Closing Stock Rs. 3,500.
2. Create ledger accounts and enter the following amount in
the respective heads of Accounts.
Particulars Debit Credit
Rs. Rs.
Capital 12,000
Stock 5,000
Debtors 4,000
Creditors 6,000
Machinery 10,000
Cash in hand 1,000
Bank overdraft 7,000
Sales return 4,000
Purchase return 2,000
Miscellaneous expenses 6,000
Sales 22,000
Cut here
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Purchases 13,000
Wages 5,000
Salaries 6,000
Prepaid Insurance 100
Bills payables 4,400
Outstanding salaries 700
54100 54100
3. Export sales
Ceiling Fan: Less than 50 nos Rs. 1600
50 to 100 nos Rs. 1500
More than 100 Rs. 1000
Table Fan: Less than 50 nos Rs. 1500
50 t0 100 nos Rs. 1300
More than 100 Rs. 1000
Domestic sales
Celling Fan Less than 50 nos Rs. 1300
50 to 100 nos Rs. 1100
More than 100 Rs. 1000
Table fan: Less than 50 nos Rs 1300
50 to 100 nos Rs. l200
More than 100 Rs. 1000 10%
(15.4.14 sold to Shaji traders)
Export sales Ceiling fan 100 nos,
Table fan 100 nos
Domestic sales Ceiling fan 150 nos
Table fan 100 nos
(25.4.2014 sold to heena sellers).
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4. Retail sales
Bronze 8
Less than 10 nos Rs. 65
10 nos to 25 nos Rs. 65
From 25 onwards Rs. 65 10%
Gold 8
Less than 10 nos Rs. 80
10 nos to 25 nos Rs. 80
From 25 onwards Rs. 80 7.5%
Silver 8
Less than 10 nos Rs .100
10 nos to 25 nos Rs. 100
From 25 onwards Rs 100
Whole sale price
Bronze 8
Less than 10 nos Rs. 55
10 nos to 25 nos Rs. 55
From 25 onwards Rs. 55 10%
Gold 8
Less than 10 nos Rs. 75
10 nos to 25 nos Rs. 75
From 25 onwards Rs. 75 10%
Silver 8
Less than 10 nos Rs. 95
10 nos to 25 nos Rs. 95
From 25 onwards Rs. 95 10%
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1.5.2002 sold to Karz and co 25 nos of gold 15 nos of
silver 15 Nos bronze 8. (Retail sales).
25.5.2002 sold to Kanthi stores 35 nos of gold 25 nos of
silvers 15 nos bronze 8 (whole sales).
5. Create the following ledgers and place under appropriate
groups
Name Group Opening
Balance
Lakshmi Handloom
House
Debtors-South 40000 Dr
Radhaswamy Textiles Debtors-South 0.00
Verma Corporation Debtors-North 0.00
Nandhitha Textiles Debtors-North 0.00
Busu Textiles Debtors-East 0.00
Sakhi cotton Textiles
Ltd
Debtors-East 0.00
Mumbai Textiles Ltd Debtors-West 0.00
Windsor Textiles Ltd Debtors-
International
0.00
Rugby International
Ltd
Debtors-
International
0.00
Super Textiles Ltd Debtors-North East 0.00
Citi Bank 2,00,000 Dr
Bank of India 55,000 Dr
Sales-Domestic 0.00
Sales- International 0.00
Purchases 0.00
Motor Car 50,000 Dr
Furniture 10,000 Dr
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All Parties enjoy credit limit of Rs. 1,00,000 and normal
credit days of 30 days. Customers' ledger balances are
maintained bill-wise. Make the necessary changes in the
debtors group So that it appears in the following format
in reports (Make changes in the sort Position).
Sundry debtors
Debtors-East Debtors-West
Debtors-North Debtors-South
Debtors—International.