8750463-M-Com-Part-I-Accounts-Question.pdf

7/26/2019 8750463-M-Com-Part-I-Accounts-Question.pdf

1/15

Q.1. You are required to prepare Trading and Profit and loss Account for the

year ended 31.3.2008 and a balance sheet as on that date fro the Trial

balance for the year ended 31.3.2008 and ad!ustents gi"en in respect of

#hania consuers co$operati"e society% &ubai.

Trial 'alance

Particulars (ebit )*s.+ ,redit

)*s.+Share Capital - 50,000Calls in arrears 5,000 -Reserve fund - 7,500Development fund - 2,500Opening stock of consumers goods 55,000 -urniture 2!,000 -"ducation fund - !,000Creditors for purchase - #0,000

Sundr$ De%tors #5,000 -Commission pa$a%le - 2,000

Salaries &5,500 -

Commission ',700 -Rent ( )a*es #0,000 -+ostage #,&50 -)ravelling and conve$ance #,200 -+rinting ( Stationer$ #,500 -Dividend paid for 2007-0' !,500 -udit ees 2,000 -

nterest on nvestment - 5,000+rofit ( loss ppropriation account

%alance

- &0,000

".uipments #0,000 -dmission ees - 250

+urchase ',00,000 -Carriage ( Coolie Charges 20,000 -nvestments 50,000 -Sales - #0,&0,000Cash in hand #2,500 -

Cash at %ank '5,000 -Total 11%-1%20 11%-1%2

0

Ad!ustents/$

#/ Outstanding Rent pa$a%le on /&/200' as Rs/500/2/ Outstanding salar$ pa$a%le on /&/200' as Rs/#,000/

&/ Of the salaries paid Rs/#,500 as as an advance to emplo$ee on /&/200'/!/ nterest accrued on investments Rs/#,000/5/ Directors recommend #01 Dividend to its shareholders and transfer of Rs/500 toDevelopment fund// Charge 51 Depreciation of furniture/7/ Closing stock of consumers goods is valued at cost Rs/70,000/'/ +rovide Rs/#00 for education und/

Q.2.ro the folloing Trial balance and the ad!ustents gi"en in respect of&ittal ,onsuers ,o$operati"e #ociety% &alapur% prepare the inal Accountsfor the year ended 31.3.2008.

Trial 'alance as on 31.3.2008


2/15

Particulars (ebit

)*s.+

,redit

)*s.+Opening Stock of urniture and 3achiner$ #0,000 -Share Capital - 75,000Deposits from 3em%ers - 40,000+rinting and Stationer$ &,000 -nvestment in shares of District co-operative %ank 0,000 -

nvestment in shares of co-operative +urchase and

Sales Societ$

&,000 -

oan from 6ank 8nsecured9 - 42,000oan to 3em%ers #,&5,00

0

-

nterest "arned on loan given to mem%er - !5,000+urchase of ertili:ers and 3achiner$ &,70,00

0

-

Sales of ertilisers and 3achiner$ - !,50,000Office ".uipment 25,000 -

Office Rent 5000 -Salaries 25000 -

)ravelling "*penses 5000 -Carriage nard &500 -reight #500 -nterest +aid '000 -Reserve und - #,',000Cash in hand 5#,000 -

Cash at 6ank 2,00,00

0

-

Total %38%00

0

%38%00

0Ad!ustents/

#/ Closing Stock of ertilisers and 3achiner$ as on /&/200' as Rs 70,000/2/ Outstanding office rent Rs/ #,000/&/ Office ".uipments are to %e depreciated ;51/!/ udit ees are to %e paid of Rs/ ,500/5/ Directors recommend a dividend to 3em%ers ; #01/

/ Contri%ute to "ducation und Rs/ #00/

Q3.ro the folloing Trial 'alance for the year ended 31.3.2008 and thead!ustents in respect of 4uar ,onsuers ,o$operati"e #ociety% 5ashi%Prepare the inal Accounts for the year ended 31.3.2008.

Trial 'alance

Particulars (ebit)*s.+

,redit)*s.+

Share Capital

Reserve und

+urchases

Stock in #stpril,2007

Carriage nard

Salaries and lloances to Staff

6uilding und

-

-

#2,00,0

00

2,00,00

0

#0,000

#,!0,00

',00,000

2,00,000

-

-

-

-

#,!0,000


3/15

Share Capital Redemption und

Contri%ution to Staff provident fund

Staff +rovident und

Sales

6ad De%ts

Reserve for 6ad and Dou%tful De%ts

+ostage

3achiner$ at Cost

)ravelling "*penses

6onus to "mplo$ees

+rinting and Stationer$

nsurance

6uilding at Cost9

urniture at Cost9

Depreciation und

Sundr$ De%tors

Sundr$ Creditors

nvestment in shares of co-operative

Societies

Staff +rovident und nvestment

i*ed Deposit ith District Central Co-op

6ank

Sundr$ "*penses

Repairs to 6uilding

nterest on i*ed Deposit

Dividend Received on Shares

)ransfer ees

+rofit and oss ppropriation a


4/15

,500

Total 2%86%0

00

2%86%0

00

Ad!ustents/#/ Closing Stock on /&/200' as Rs/&,20,000/2/ Salaries unpaid on /2/200' ere Rs/',000/&/ +repaid nsurance is Rs/#,500/

!/ +rovide Reserve for 6ad and Dou%tful De%ts ; 51/5/ +rovide Depreciation for the $ear as shon %elo=/ )ransfer to "ducation fund Rs/#00/7/ udit ees are Outstanding for the $ear Rs/5,000/'/ +rovide for Share Capital Redemption fund Rs/&,000/4/ Directors recommend Dividend to mem%ers ; #0 1/

Q-.olloing is the Trial 'alance of 7te ,onsuers ,o$operati"e #ociety 9td.for the year ended 31.3.2008.You are required to prepare trading and Profitand 9oss Account for the year ended 31.3.2008 and a 'alance #heet as on thatdate.

Trial 'alance

(ebit 'alance *s. ,redit 'alance *s.

nterest +aid

6ank Charges

Salaries

Contri%ution to staff +rovident

und

)ravelling "*penses

Rent, Rates and )a*es

+ostage

+rinting and stationer$

udit ees

>eneral "*penses

6ad De%ts

6onus to "mplo$ees

Opening Stock

+urchases

Carriage ( reight

nvestment in >overnment

Securities

nvestment in Shares of Co-op

Societies

nvestment to Staff +rovident

und

2,'00

200

#',000

#,000

250

2,250

#,#50

#,200

500

#,#00

500

2,000

#0,000

#,#0,0

00

#,000

#&,000

#2,000

!,000

2',000

!2,000

Sales

Share )ransfer ees

Dividend

nterest on nvestment

6ank nterest

Commission

Sale of orms

Share Capital

Reserve und

Share Capital

Redemption fund

"ducation und

Staff +rovident und

Depreciation und

6uilding und

6ad De%ts Reserve

oans from 6ank

oans from government

Sundr$ Creditors

2,00,0

00

#00

2,000

#,'00

7,000

,500

500

50,000

#0,000

5,000

500

!,000

',000

5,000

2,000

#2,000

#2,000

#&,00


5/15

Sundr$ De%tors

6uildings

urniture and ittings

nsurance

Repairs

reehold and

Cash in hand

Cash at 6ank

#',000

#,700

#,&00

2',000

5,050

&5,000

Total 3%-0%0

00

Total 3%-0%0

00

Ad!ustents/#/ Closing Stock ?alued at Rs/25,000/2/ Outstanding "*penses=

tems Rs/

Rent 25

0nteres

t

20

0&/ Contri%ution to "ducation und Rs/#00/!/ +rovide for Contri%ution to Share Capital Redemption und Rs/#,000/5/ nsurance +aid in advance Rs/200// nterest accrued in nvestment %ut not received Rs/200/7/ Create 6ad De%ts Reserve of Rs/&,000/'/ +rovide Depreciation on 6uilding at 5 1 and on furniture and ittings at 51/

4/ Directors recommend Dividend of #01/

Q.ro the folloing Trial 'alance of #hrines ,o$operati"e Purchase and sales#ociety 9td. as on 31.3.2008/ Prepare Trading and Profit and 9oss Account forthe year ended 31.3.2008 and 'alance sheet as on that date after ,onsideringthe ad!ustents thereafter.

Trial balance as on 31.3.2008

Particulars (ebit

)*s.+

,redit

)*s.+


6/15

Share Capital

Reserve und

Creditors

+rofit and oss ccount

#/!/2007

Opening Stock

urniture and ".uipment

Container Deposit

Salaries

Sundr$ De%tors

Commission

Rent and )a*es

+ostage

)ravelling and Conve$ance


dmission ees

+urchases

Collie Charges, reight and

Cartage

nvestment

Sales

Cash in hand

6ank 6alance

Development und

-

-

-

-

&,42,00

0

#,2!,00

0

&2,000

&,00,00

0

0,000

'',000

0,000

',000

#',000

#!,000

-

&,!0,0

00

#,0,00

0

2,!0,00

0

-

,000

!,00,00

0

-

&,&,000

0,000

!0,000

#,7,000

-

-

-

-

-

-

-

-

-

-

2,000

-

-

-

7,20,000

-

-

',000

Total 82%-2%0

00

82%-2%0

00

Ad!ustents/#/ Closing Stock is valued at Rs/!,!0,000/2/ Outstanding Rent Rs/!,000 and Commission +a$a%le Rs/20,000/&/ Rs/',000 Salar$ as paid as advance as on /&/200'/!/ ccrued ncome on nvestment Rs/20,000/5/ +rovide #01 Depreciation on urniture and e.uipments/

Q:. ro the folloing Trial 'alance of 4atrina ,o$operati"e #ociety 9td.&ubai as on 31.3.2008% Prepare Trading and Profit and 9oss Account for the


7/15

year ended on 31.3.2008 and 'alance #heet as on that date after consideringthe ad!ustents gi"en.

Trial 'alance

Particulars (ebit

)*s.+

,redit

)*s.+Share Capital

Calls in rrears

Reserve und

Common >oods und

Opening Stock of

Consumer@s >oods

urniture

"ducation und

Sundr$ Creditors

Sundr$ De%tors

Commission +a$a%le

Salaries

Commission

Rent, Rates and )a*es

+ostage

and

nterest on nvestment

".uipment

+urchases

nvestment

Sales

Cash in hand

Cash at 6ank

-

#0,000

-

-

#,#0,00

0

!',000

-

-

&0,000

-

7#,000

#7,!00

20,000

#2,#00

4,000

-

20,000

#,!0,0

00

#,00,00

0

-

25,000

#,70,00

0

#,0,000

-

#5,000

5,000

-

-

',000

20,000

-

!,000

-

-

-

-

-

#0,000

-

-

-

20,0,50

0

-

-

Total 22%82%

00

22%82%

00Ad!ustent/#/ Outstanding rent pa$a%le on /&/200! as Rs/#,000/2/ Charge 51 depreciation on furniture/&/ Closing Stock of consumer@s goods is valued at cost Rs/#,!0,000/!/ nterest accrued on nvestment Rs/2,000/5/ Outstanding salar$ on st3arch, 200' as Rs/2,000 ( Rs/&,000 paid in advance// uthorised capital 20,000 shares of Rs/#0 each/


8/15

Q6.#hahruh ,o$operati"e #ociety rendering 9oans and *ationing facilities toits ebers has the Trial 'alance as on 31.3.2008 as follos/

Trial 'alance

;ae of Accounts (ebit

)*s.+

,redit

)*s.+3em%er Share capital

3em%er@s Deposit

Dead stock

+rinting ( Stationer$

6ank Share +urchased

Sahakari Sangh share

+urchased

6ank oan simple9

3em%er@s oan

nterest on 3em%er@s

oan

+urchase of Rationing

>rains

Sale of Rationing >rains

Office Rent

Salaries

)ravelling "*penses

reight

Coolie Charges

6ank Current ccount

6ank nterest

Reserve and Other unds

Cash %alance

-

-

7,000

750

5,000

2,000

-

'&,250

-

#,20,00

0

-

4,000

#0,550

#,250

#,&00

400

&&,500

2,250

-

#00

#!,#00

&0,000

-

-

-

-

,000

-

5&,#50

-

#,27,500

-

-

-

-

-

-

-

!5,#00

-

Total 3%00%8

0

3%00%8

0Ad!ustents/#/ Closing Stock of Rationing >rains on /&/200' as Rs/&5,000/2/ Outstanding Office Rent is Rs/#,000/&/ +rovide for udit ees due Rs/00/!/ +rovide Depreciation on Deadstock at 51/5 +rovide 6ad de%ts Reserve Rs/#,500/

Aou are re.uired to prepare )rading, +rofit and oss ccount for the $ear ending on/&/200' and 6alance Sheet as on that date/

Q8.olloing is the Trial 'alance of


9/15

Trial 'alanceParticulars (ebit

)*s.+

,redit

)*s.+Share Capital

Deposits from

3em%ers

Sales

+urchase Returns

Suppliers

nterest on

nvestment

Re%ate Received

Common >ood

und

+rice luctuation

und

Reserve und

Cash in hand

Cash at 6ank

urniture

+urchases

Customers

Carriage nard

Sales Return

Rent

udit ees

Sales ta*

Staff Salar$

+rinting (

Stationer$

nvestment

Stock in )rade

nterest +aid

-

-

-

-

-

-

-

-

-

-

!00

',000

,000

#0,05,0

00

&0,000

5,000

2,000

#0,000

2,000

&,000

50,000

#0,000

2,00,000

&0,000

2,00

'0,000

50,000

#2,50,000

5,000

#0,000

#2,000

&,000

!,000

',000

20,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total 1-%-2%0

00

1-%-2%0

00

Ad!ustents/#/ ?alue of Closing Stock on /&/200' as Rs/0,000/2/ Depreciation on urniture ; #01 p/a/


10/15

&/ nterest accrued on Deposits Rs/#,500 ( nterest accrued on nvestment Rs/,000/!/ Outstanding Salar$ of Rs/&,000/5/ Outstanding Sales )a* of Rs/#,000/

Aou are re.uired to +repare )rading and +rofit ( oss ccount and 6alance Sheetas on /&/200'/


11/15

Q.olloing is the Trial 'alance of 5enatesh ,onsuers co$operati"e #ocietyas on 31.3.2008

Trial 'alanceParticulars (ebit

)*s.+

,redit

)*s.+

Share Capital

Deposits from 3em%ers

Dead stock

+rinting ( Stationer$

nvestment in DCC 6ank

nvestment in Shares of Sadhana Co-

op Societ$

oans from 6ank

oans to 3em%ers

nterest on 3em%ers oan

+urchase of ertili:ers and 3achiner$

Sales of ertili:ers and 3achiner$

Office Rent

Office Salar$

)ravelling "*penses

Carriage nard

reight Charges

6ank Current ccount

6ank nterest

Reserve und

Cash in Band

6ank saving ccount

-

-

7,000

#,000

25,000

#2,000

-

!5,000

-

#,20,00

0

-

4,000

',000

#,500

#,&00

#,400

!5,00

',&00

-

!,!00

#0,000

#5,000

&0,000

-

-

-

-

,000

-

#5,000

-

#,50,000

-

-

-

-

-

-

-

54,000

-

-

Total 3%00%00

0

3%00%00

0

Ad!ustents/#/ Closing Stock of ertili:ers and 3achiner$ as on /&/200' as Rs/20,000/2/ Outstanding Office rent Rs/&,000/&/ +rovide Depreciation ; 51 on Dead Stock/!/ Create +rovision for 6ad and Dou%tful De%ts Rs/#,500/5/ +rovide for udit ees Rs/00/

Aou are re.uired to prepare )rading and +rofit ( oss ccount for the $ear endingas on /&/200' and 6alance Sheet as on that date/


12/15

Q10.The folloing =nforation is #upplied to you in connection ith &.=.c for the year ended 31.3.2008Receipts mount

Rs/9

+a$ments mount

Rs/96alance #/!/20079

Cash

6ank Current


13/15

&/ nterest on loans to mem%ers is receiva%le Rs/2,#00/!/ Directors recommended dividend of #01/

Q11.ro the folloing Trial 'alance of #oya ,redit ,o$operati"e #ociety%;arian Point% Prepare inal Account for the year ended 31st&arch 2008.

Trial 'alanceParticulars Aount

)*s.+

Particulars Aount

)*s.+

oans to 3em%ers

Contri%ution to +rovident

und

nsurance

Conve$ance


Salar$ of 3D

Staff Salar$

nterest on oan

nterest on Deposits

urniture

i*ed deposits ith other

6ank

Cash

6ank

7,00,000

!'0

#,0!0

&,!20

40

#2,000

27,200

#,420

#4,200

#,'0

0,000

!,&0

&0,5'0

Share Capital

Reserve und

3em%ers Deposits

8npaid Dividend

Staff +rovident

und

+rofit and oss

200-07

nterest

Reneal ees

Sundr$ ncome

Development und

"ducation und

2,00,000

#',000

5,!0,000

!00

!,'00

7,000

',000

'00

!0

!,000

#,200

Total 8%:2%8-0 8%:2%8-0

Ad!ustents/#/ nterest due on mem%ers Deposits Rs/2,000/2/ nterest due %ut not received Rs/!,'00/&/ Salar$ due Rs/#,200/!/ udit ees due Rs/'00/5/ Depreciate urniture %$ Rs/5,000// Directors propose to pa$ dividend of 51/

7/ )ransfer Rs/#00 to "ducation und and Rs/2,000 to Dividend ".ualisation und/'/ ppropriations out of profits of the $ear 200-07 ere approved as follos=Reserve und Rs/2,000Dividend Rs/2,000/


14/15

Q12.You are required to prepare Profit and 9oss of the year ended 31.3.2008and a 'alance #heet as on that date fro the folloing trial 'alance of #hruti,o$operati"e ,redit #ociety as on 31.3.2008 and other inforation gi"en/

Trial 'alance

Particulars (ebit

)*s.+

Particulars ,redit

)*s.+Cash in hand

Cash at 6ank

i*ed Deposits ith 3aharashtra

State Co-op/ 6ank

urniture

nterest on Deposits

nterest due on oans

Salaries

Office Rent


)ravelling "*pense

nsurance +remium

Contri%ution to +rovident und

oan due from 3em%ers

&50

7,000

77,500

&,500

!0,000

!,000

#5,000

2,500

200

&00

500

#,000

#5,00,0

00

Share Capital

Reserve und

3em%ers Deposits

8npaid Dividend

Dividend ".ualisation

Reserve

Staff +rovident und

+rofit and oss ppropriation

a


15/15

8750463-M-Com-Part-I-Accounts-Question.pdf

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