Debt and Trial Balance
DRIVE
PROGRAM
SEMESTER
SUBJECT CODE &
NAME
BK ID
CREDITS
MARKS
ASSIGNMENT
WINTER 2013
MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
1
MB0041
FINANCIAL AND MANAGEMENT ACCOUNTING
B1624
4
60
Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.
Q.No
Questions
Marks
Total
Marks
1
Give the classification of Accounts according to accounting equation approach with its meaning and examples. Compare the traditional approach with modern approach of accounting equation approach. Analyze the transaction under traditional approach.
a.
b.
c.
d.
e.
f.
g.
h.
20.1.2011 Paid salary Rs. 30,000
20.1.2011 Paid rent by cheque Rs. 8,000
21.1.2011 Goods withdrawn for personal use Rs. 5,000
25.1.2011 Paid an advance to suppliers of goods Rs. 1,00,000
26.1.2011 Received an advance from customers Rs. 3,00,000
31.1.2011 Paid interest on loan Rs. 5,000
31.1.2011 Paid instalment of loan Rs. 25,000
31.1.2011 Interest allowed by bank Rs. 8,000
Classification of accounting equation approach with meaning and examples Analysis of transaction –with accounts involved-nature of accountaffects and debit/credit
2
4
10
6
The following trial balance was extracted from the books of Chetan, a small businessman. Do you think it is correct? If not, rewrite it in the correct form.
Debits
Stock
Purchases
Returns outwards
Rs.
Credits
8250 Capital
12750 Sales
700 Returns inwards
Rs.
10000
15900
1590
Discount received
Wages and salaries
Rent and rates
Sundry debtors
Bank Overdraft
800
2500
1850
7600
2450
Discount allowed Scooty
Carriage charges
Sundry creditors
Bills payable
800
1750
700
7250
690
Journal entries of all the transactions
Conclusion
3
6
10
4
From the given trial balance draft an Adjusted Trial Balance.
Trial Balance as on 31.03.2011
Debit balances
PROGRAM
SEMESTER
SUBJECT CODE &
NAME
BK ID
CREDITS
MARKS
ASSIGNMENT
WINTER 2013
MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
1
MB0041
FINANCIAL AND MANAGEMENT ACCOUNTING
B1624
4
60
Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.
Q.No
Questions
Marks
Total
Marks
1
Give the classification of Accounts according to accounting equation approach with its meaning and examples. Compare the traditional approach with modern approach of accounting equation approach. Analyze the transaction under traditional approach.
a.
b.
c.
d.
e.
f.
g.
h.
20.1.2011 Paid salary Rs. 30,000
20.1.2011 Paid rent by cheque Rs. 8,000
21.1.2011 Goods withdrawn for personal use Rs. 5,000
25.1.2011 Paid an advance to suppliers of goods Rs. 1,00,000
26.1.2011 Received an advance from customers Rs. 3,00,000
31.1.2011 Paid interest on loan Rs. 5,000
31.1.2011 Paid instalment of loan Rs. 25,000
31.1.2011 Interest allowed by bank Rs. 8,000
Classification of accounting equation approach with meaning and examples Analysis of transaction –with accounts involved-nature of accountaffects and debit/credit
2
4
10
6
The following trial balance was extracted from the books of Chetan, a small businessman. Do you think it is correct? If not, rewrite it in the correct form.
Debits
Stock
Purchases
Returns outwards
Rs.
Credits
8250 Capital
12750 Sales
700 Returns inwards
Rs.
10000
15900
1590
Discount received
Wages and salaries
Rent and rates
Sundry debtors
Bank Overdraft
800
2500
1850
7600
2450
Discount allowed Scooty
Carriage charges
Sundry creditors
Bills payable
800
1750
700
7250
690
Journal entries of all the transactions
Conclusion
3
6
10
4
From the given trial balance draft an Adjusted Trial Balance.
Trial Balance as on 31.03.2011
Debit balances