Explain the meaning of accounting.

Discuss briefly the branches of accounting.

Briefly explain the following terms
a) Account
b) Voucher
c) Invoice

What is the difference between cash transaction and credit transactions?

What is matching concept? Why should a business concern follow this concept?

"Business units last indefinitely". Mention and explain the concept on which the statement is based.

What are the objectives of book-keeping?

What is Accounting Standards in the words of Kohler?

State the principles of double entry system of book keeping.

Show the accounting equation on the basis of the following transactions:
i) Ramya started business with Cash   Rs.25,000
ii) Purchases goods from Harsha   Rs.20,000
iii) Sold goods to Amala costing Rs.18,000    Rs.25,000
iv) Ramya withdrew from business   Rs.5,000

Write the transactions from the Journal Entries
Cash A/c Dr.
Discount Alc Dr.
To Aravind A/c

Write the transactions from the Journal Entries.
Drawings A/c   Dr
To Purchases

How is posting made from the journal to the ledger?

Post the following transactions direct into ledger of Akbar.

2018 March		Rs
1	Bought goods for Cash	25,000
2	Sold goods for Cash	50,000
3	Bought goods for Credit from Gopi	19,000
5	Sold goods on Credit to Robert	8,000
7	Received from Robert	6,000
9	Paid to Gopi	5,000
20	Bought furniture for Cash	7,000

Prepare cash account from the following transactions for the month of January 2018. (Direct Ledger Posting)

Jan 1	Commenced business with cash Rs. 62,000
3	Goods purchased for cash Rs. 12,000
10	Goods sold for cash Rs. 10,000
12	Wages paid Rs. 4,000
25	Furniture purchased for cash Rs. 6,000

What are the steps in posting?

Whatis the need for preparing trial balance?

What are the objectives of preparing trial balance?

From the following balances extracted from the books of Mrs. Kokila, prepare trial balance as on 31.03.2017.

	Rs		Rs
Purchases	40,000	Advertisement	4,000
Rent paid	2,000	Generalexpenses	700
Discount received	1,000	Commission paid	1,500
Carriage inward	2,700	Capital	50,000
Closing stock	38,600	Sales	38,500

The following balances are extracted from the books of Murali, as on 31st March, 2017. Prepare trial balance.

Particulars	Rs	Particulars	Rs
Sales	35,000	Audit fees	1,000
Interest paid	350	Octroi duty	8,000
Returns inward	2,500	Land	90,000
Depreciation	2,400	Capital	60,000
Office rent	2,000	Bank overdraft	11,250

What are the advantages of subsidiary books?

Write short notes on :
(a) Endorsement of a bill and
(b) Discounting of a bill

Write notes on closing entries.

Write notes on rectifying entries.

Enter the following transactions in a simple cash book of Kuna 

2017
Jan		Rs
1	Cash in hand	11,200
5	Received from ramesh	300
7	Pain Rent	30
8	Sold goods for cash	300
10	Paid mohan	700
27	Purchased furniture for cash	200
31	Paid salaries	100

Enter the following transactions in a single column cash cash book of Pradeep for April, 2017

April	Particulars	Rs
1	Commenced Bussiness with cash	27,000
5	Bought goods for cash	6,000
10	Goods sold for cash	11,000
13	Paid into bank	5,000
14	Goods sold to Sangeetha for cash	9,000
17	Goods purchased from Preethi on credit	13,000
21	Purchased stationery by cash	200
25	Paid Murugan by cash	14,000
26	Commission paid by cash	700
29	Drew from bank for office use	4,000
30	Rent paid by cheque	3,000

What is cash book? What are its features?

Write notes on posting the petty cash book.

State the timing differences in BRS with examples.

From the following information, prepare bank reconciliation statement as on 31st December, 2017 to find out the balance as per bank statement.

	Particulars	Rs
(i)	Balance as per bank statement	6,000
(ii)	Cheques deposited on 28th December, 2017 but not yet credited	2,000
(iii)	Cheques issued for 10,000 on 20th December, 2017 but not yet presented for payment	3,000
(iv)	Interest on debentures directly collected by the bank not recorded in  cash book	4,000
(v)	Insurance premium on building directly paid by the bank	1,000
(vi)	Amount wrongly credited by bank	500

Imagine that you are the owner of a small shop. You maintain the three column cash book for your business. Now, think on the following points and discuss with the whole class:
• How often would you check your cash balance in hand? Everyday/once in a week?
• Why do you check your cash balance?
• How will you make sure that the bank column in cash book is correct and is the same as shown by the bank statement?

Why is the preparation of Bank Reconciliation Statement necessary?

The following errors were located after the preparation of the trial balance. Assume that there exists a suspense account. Rectify them.
(a) Sale of goods on credit to Arun for Rs. 152 posted to his account as Rs. 125.
(b) Bought goods from Lakshmi on credit for Rs. 550, credited to her account as Rs. 505.
(c) Purchase of furniture from Abirupa for Rs. 404 on credit was debited to furniture account as Rs. 440.
(d) Purchased machinery for cash Rs. 200 was not posted to machinery account.
(e) The total of purchases book Rs. 89 was carried forward as Rs. 98.

Rectify the following errors assuming that the trial balance is already prepared and the difference was placed to suspense account:
(a) Sales book was undercast by Rs.250
(b) Purchases book was undercast by Rs.120
(c) Sales book was overcast by Rs.130
(d) Bills receivable book was undercast by Rs.75
(e) Purchases book was overcast by Rs.35.

Following are some accounting errors. Rectify the same through Suspense Alc.
(i) Goods Purchased from Manohar of Rs. 2,500 has been posted to the debit of his account.
(ii) Cash of Rs. 4,500 paid to Munish was credited to Manish.
(iii) Discount Rs. 100 allowed to Anthony was not debited to discount account.

What are the types of errors at the stage of preparing trial balance?

What are the objectives of providing depreciation?

State the advantages and limitations of straight line method of depreciation.

M/s. Shankar & Co. purchased a machinery on 01-01-2012 for Rs. 10,00,000. The firm writes off depreciation at 10% on the original cost every year. The books are closed on 31^st March every year. Pass the necessary journal entries.

What is Depletion method?

Distinguish between capital expenditure and revenue expenditure.

Distinguish between capital receipt and revenue receipt.

What are the classifications of expenditures?

Write any three examples of revenue expenditure.

What is meant by closing entries? Why are they passed?

Ascertain net profit or net loss from the following:

Particulars	Rs	Particulars	Rs
Gross profit	12,000	Administration expenses	4,000
Salary (office)	9,000	Freight outwards	3,000
Apprenticeship premium received	5,000	Advertisement	2,000

What are the need for preparing a Balance sheet?

From the following information prepare balance sheet of Mrs. Nasreenkhan as at 31^st December 2017.

Particulars	Rs.	Particulars	Rs.
Goodwill	10,000	Sundry debtors	25,000
Capital	90,000	Drawings	15,000
Cash in hand	10,000	Land and buildings	30,000
Investment	500	Bank	10,000
Net profit	46,900	Creditors	31,500
Bills receivable	6,500	Plant and Machinery	20,000
Bills payable	5,350	Closing stock	40,000
Furniture	6,750

Explain how closing stock is treated in final accounts.

Give the adjusting entries for interest on capital and interest on drawings.

Explain the concept of Matching Principle.

The Trial balance shows the followings:
Capital as on 31-03-2013     Rs.6,00,000 .
Drawings as on 31-03-2013  Rs.50,000
Charge interest on drawings @ 5% pass adjusting entry. Show how this item appear in the final accounts.

Mention any three limitations of computerised accounting system.

State the input and output devices of a computer system.

Explain the types of People Interact.

What is opearating system? Give two examples.