Acconting [2]

Time: 2 h                                                                                                      MM.50

Q.1  What is ledger A/c?

Q.2   Define the term of trial balance? How many types of trial balance?

Q.3   What is posting?

                                 Or

                     What is compound entry?

Q.4  Prepare the following statement into journal, ledger and trial balance.?

              Date  1 july 2007-  Mahesh Started business with cash.  3600 Rs.

2-07-07-                   Purchase goods for cash  3000 Rs.

3-07-07-                   sold goods for cash.  2784Rs.

4-07-07-                   sold goods to Ramesh. 500Rs.

5-07-07-                   Purchase goods from Shyam.  6000Rs

6-07-07-                   paid cash to Dinesh . 426 Rs.

7-07-07                      Received cash from sohan .4872Rs.

9-07-07                      Received commission .  350Rs.

                            11-07-07 -     Paid salary .  400Rs.

                        13-07-07 -     Paid to suresh. 875Rs.

                        15-07-07-      Sold goods to Mohan .  3972Rs.

                         18-07-07-     Paid cash to Ram.  1400Rs.

                         20-07-07-     Sundry expense . 300Rs

                         22-07-07-     Purchase goods for cash  1000Rs.

                         25-07-07-     Sold goods to Sushil for cash 700Rs.

                         30-07-07-     Paid cash to Prem 1800Rs.

Q.5- Journalize the following transaction :-

            Date                                          

            1 january 2001- Sita ram commenced business with cash 70000Rs.

             02-01-2001-     Purchase furniture for cash 9000Rs.

             03-01-2001-     Purchase goods for cash 30000Rs.

             04-01-2001-     Purchase goods from Naresh 25000Rs.

             06-01-2001-     Sold goods to Ramlal 15000Rs.

             08-01-2001-     Sold goods for cash 22000Rs.

             11-01-2001-     Paid cash to Naresh 17500Rs.

             14-01-2001-     Received cash from Ramlal 10000Rs.

             16-01-2001-     Deposit cash into Bank 20000Rs.

             19-01-2001-     Paid wages 300Rs.

             25-01-2001-     Received commission 250Rs.

             27-01-2001-     Paid salary to Mohan 1000Rs.

             29-01-2001-     Received cash from Ramlal 3500Rs.

             29-01-2001-     Drowing for personal use from bank 700Rs.

             30-01-2001-     Purchase goods 2500Rs. By cheque.

             31-01-2001-     Cash deposit into SBI 1200Rs.

Q.6-What is final Account ? What are the component part of final Account ?

Q.7- Write full form of Vat ?