Q.P.

Code - 04C201

Second Semester B.Com. Degree Examination,

October/November 2022
(NEP Scheme)
Comnerce
Paper 2.1 ADVAN CEDFINANCLAL ACCOUNTING
Time:2 Hours Max arks o0
Instructions to Canddates Ansuer should be uritten compietely either in Enlsh
or in Kannada

SECTION - A/3sort

Answer the following :

euhd aren ug
PART /ar-I

Answer ALL multiple choice questions only once. Each question carries 1 mark
(6 x 1 = 6)

(a) As per average clause insuiance company pays comnpensation

Actual loss (ii) More than actual loss
(ii) Proportionately (iv) None of the above

f1) () saonts,
(ui) gänesYdYrbaadogd
(b) In the books of Hirer, the interest and depreciation account wilu be
transferred to

(i) Trading account

(1) P&Laccount

(iu) P8e L appropriation account

(iv) Balance shcet

(i)
Q.P. Code - 04c201
Carriage outward expenses are allocated on the basis of

Sales tu) Purhases

(pace occupied (ix) Number of Employees

(t)

Down pavent Sum of all instalments ?

Total interest i) Cash price
f Hire purchase price (iv) None of the above

L u, (1)

method of Branch accounting is usually adopted when the

branch is of the snall size.

Debtors systen (ü) Final account system

() Stork and debtor systen (iv) None of the above

2
() abrdne (1)

From incotnplete rrcords, it is not possible to prepare

Trial balance (i) Trad1ng account
(u) Balance sheet (iN) All of the above

2
 Q.P. Code - 04C201

PART -I/orn- I1
Answer any THREE sub questions. Each question carres 2 marks (3 2 = 6)

Ig) What is meant by Fire claims?

(b) Mention any two features of Hire purchase systemn

Why do you prepare departmental trading account?

State the methods of Accounting for Branch accounting

(k) Write any two diflercnces between single entiy sy stem and double entry
System.

SECTION-B/yort 0

Answer any THREE of the following questions. Each question carnes 4 marks t
(3 x 4 = 12)

2 What are the stcps involved in ascertainment of Insurance Clairn?

3 Ramakrishna Ltd purhased a machinery on 01-04 2019 on Hire purchase

system The payments are made as follows:

Down paynent 10,000

At the end of ]" year 12,000
At the end of 2d year 7,000
At the end of 3 ycar 4,400

Rate of interest a 10%

Calculate cash price of the machinery.

Q.P. Code - 04C201
6

10,000

SAsUtr dr ddadali 12000

26e sár d adob 7,000
3de rd Gatod 4,400

Udd de 10do4

State the basis of apportionment of the

accounts lollowing expenses in Departnental
Discount allowed
(b) Discount recived
Canteen expenses
(d) Electiity

(a)

(b)

(d)

Journalic the
lollowing transactions in the books of Head Office. The Head 7

sends goods atcost plus 25. office

(a) Goods sent to branh at invoice price 2,00,000
(b) Goods returned by branh to Head office ? 50.000

(a)
(b) Dalos LNd iudorto da 50,000
 Q.P. Code - 04C201
6 From he following informations you are required to calculate total
sales:

Debtors as on 0104-2021 65,750

Cash received from debtors 1,32,000
Bad debts written off 5,500
Return inwards 3,250
DebtorS as on 31-03-2022 53,500
Discount allowed 3.000
Cash sales 81,400

bos 01-04-202 1dos soradd 65,750

1,32,000

5,500
3,250

Eos 31-03-2022 dos saUradd 53,500

3,000
81,400

SECTION - C/yart
Answer any THREE of the following questions. Each question carries 12 marks:
(3 x 12 = 36)

7 The Premises ol Karnataka traders caught on fire on 01-10-2021 and their stork
was dumaged, the stock was fully insured. The concern has made the accounts
upto 31 March of cach year
The following infornaion is available :

Stock on 31-03-2020 96,140)

Stock on 31-0.3 202 1 1,32,720
Purchases upto 31 03 2021 4,52,580

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Q.P. Code - 04C201

5.20,000
Sales up to 31-03-2021
Purchases from 01042021 to date of fire 3,48,270
Sales frotn 01 04 2021 to date of fire 4,91,700

Further informations:
(al In July 2021, poods costing ? 15,000 were ven aWay for advertising
purpos, no entry being made in the books
5,000.
(b) During the year 2021 22, a cderk nisappropriated cash sales of ?
Value of stock salvaged was ? 11000 and the expenss incured to
extinguish fire ? 1,000.
for
From the above information prepare a statenent sh¡wing the Insurance laim
loss of stock.
brsacd 01-10 2021 docd sor Ld eu¡ u°d sdn Uod srt0 0

31 03-202000d) e d 96,140

31-03-2021 dod Cad) 1,32,720

asood 31-03 2021 dJd abrfrtu) 4,52,580

Dwod 31-03-2021 dddhd dwIN) 5,20,000

brwod 01-04 2021 bod tso8 oozsd zONd aorbriu 3,48,270

Drsaod 01 04-2021 bod zso& esesscs zdd uotsrt 491,700

(a) o 2021dO, 15,000 doa dortvr tolatod) eudeasah bedehd. d)

(b) 2021-22 OOrddn?5,000 sricd ERocE) cdotorvs tA4AA

(c) eud d ?11,000 aos) UoBaisri rdates std ty, 1,000.
 Q.P. Code - 04C201

8. On 14 April 2019 National transport Co. Ltd. bought a Bus from Tata Motors, on
and the
Hire purchase system. The cash price of the Bus was ? 6,00,000
payment was to be made as follows:
I 50,000 on signing of the agreement and balance in yearly instalment
of
{ 2,00,000 each on 3]at March every year for three years. The Tata motors
charges interest at 5% p.a. and National transport Co. Ltd., writes off 10%
depreciation every ycar on reducing balance system.
Prepare Bus account and Tata Motors account in the books of National transport
Co, Ltd.

31doab aAFo dos 2,00,000rie. tsoU dACDO AFG 5% a a ) J ts.

invoice
9. Sunshine Ltd, Mangalore, Invoices goods to its branch in Bangalore at
price, which is cost plus 60% from the following figures, prepare branch account
in the books of Sunshine Ltd.,

Stock at branch on 01-04-2021 16,000

Branch debtors on 01-04-2021 14,250

Goods sent to branch invoice price 2,08,000

Cash sales at branch 1,44,000

Expenses paid by the Head OfMce 10,840

Credit sales at branch 41,600

Discount allowed to branch debtors 650

Stock at branch on 31-03-2022 at invoice price 22,400

Branch debtors on 31-03-2022 7,200

Q.P. Code - 04c201

do.
01-04-2021dodb u•JabON •) 16,000
01-04-2021doab B•Bab DUDdd 14,250

1,44,000
10,840
41,600
650
31-03-2022dodb aeOd dddO w•a 22,400
31-03-2022 do vYda DODddo 7,200

10. From the following particulars, prepare departmental Trading and Profit and
Loss Account for the year ending 31-03-22.
Particulars Dept. X Dept. Y Total
Opening stock 14,000 12,000 26,000
Purchases 75,100 69,800 1,44,900
Sales 1,00,000 80,000 1,80,000
Return outwards 1,100 800 1,900
Salaries 9,000 8,500 17,500
General salaries 11,600
Rent and rates 6,000
Advertising 8,100
Insurance 1,000
Carriage outwards 5,400
Discount allowed 1,800
Discount received 1,430
Accountancy charges 500
Carriage inwards 2,860
Additional Information :
la) Goods transferred from Dept. X to Dept. Y? 5,000 were not recorded.
(b) General salaries to be allocated equally
(c) The area occupied is in the ratio of 3:2
(d) Insurance premium and Accountancy charges cannot be allocated
conveniently to any departments
(e) Closing stock of Dept. - Xwas ? 16,600 and Dept. - Y 16.800.

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 Q.P. Code - 04C201

14,000 12,000 26,000

75,100 69,800 1,44,900
1,00,000 80,000 1,80,000
1,100 800 1,900
9,000 8,500 17,500
11,600
6,000
8,100
1,000
a[gdocribs ocde 5,400
1,800
1,430
500

2,860
dab3rieo:
(a)

(c)

(d)

(e) gabd cog -X 16,600 tx) 2003-Y 16,800.

11. The books of Ravichandra, which are maintained under single entry system,
reveals the following informations:
Particulars 01-01-202 1 31-12-2021
Cash 16,800 49,900
Stock 40,000 50,000
Debtors 96,200
Creditors ? 40,000
Buildings 10,000 10,000

9
Q.P. Code - 04C201

Receipts from Debtors 2,72,000

Pivate dividend reccived 4,000
Expenses 39,300
Drawings
Paid to creditors
9,200
2,24,000
Discount allowed by creditors 2,400
Total sales during the year were 2,80,800
Ravichandra maintained a Gross profit of 25 orn sales.
Prepare trading and profit and loss account and balance sheet s
on 31-12-2021.

tdortaai:
Ddurte 01-01-2021 31-12-2021
16,800 49,900
40,000 50,000
96,200
rdris 40,000
10,000 10,000

2,72,000
4,000
39,300
cor (Leocs) 9,200
2,24,000
2,400

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