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Reg. No. :

OCTOBER 2019 U/310/17-18/02207/09-14/

02207/17-18/41207

FINANCIAL ACCOUNTING — II

(Also common to B.A. Business Economics)

Time : Three hours Maximum : 100 marks

SECTION A — (5  8 = 40 marks)

Answer any FIVE questions.

1. Distinguish between Hire purchase system and instalment

purchase system.
uÁøn •øÓU öPõÒ•u¾US®, ÁõhøP öPõÒ•u¾US® Cøh÷¯
EÒÍ ÷ÁÖ£õkPøÍU SÔ¨¤kP.

2. Murugan purchased TV sets under hire purchase system as per

agreement he has to pay 800 down 400 at the end of the first
year, 300 at the end of second year and 700 at the end of the
third year interest is charged 5% p.a
Calculate the cash price of the TV sets and the amount of
interest payable on each instalment.
•¸Pß öuõø»UPõm]U P¸ÂPøÍ ÁõhøP öPõÒ•uÀ •øÓ°À
Áõ[QÚõº. Ehߣõmiß AÁº 800I EhÚi¯õPÄ®, 400I
•u»õ©õsk CÖv°¾® 300I Cμshõ©õsk CÖv°¾®
700I ‰ßÓõ©õsk CÖv°¾® ö\¾zu ÷Ásk® Ámi BskUS
5% öuõø»UPõm] P¸ÂPÎß öμõUP Âø»ø¯²® uÁøn «x
ö\¾zu ÷Ási¯ Ámiø¯²® PnUQkP.

3. Amway Ltd opened a Brach at Delhi on 01.01.2005 Goods are

1
invoiced to the branch oat cost plus 33 % which is the selling
3
price. From the following particulars ascertain the profit made
at Delhi branch.
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Goods sent to branch at selling price 45,000 sales at branch –

cash 15,000; Sales at branch – credit 19,600; cash received
from debtors 15,400; discount allowed to customers 200; cash
sent to branch for expenses 6,000 goods returned by the
branch (Invoice price) 1,500 closing stock (invoice price)
8,400.

1.1.2005À B®÷Á ¼ªöhm öhÀ¼°À J¸ QøÍ°øÚ xÁUQ¯x.

1
\μUSPÒ AhUPÂø»÷¯õk 33 % C»õ£® ÷\ºzx Chõ¨¦
3
Âø»°À QøÍUS Aݨ¤¯x. Ax÷Á ÂØ£øÚ Âø»¯õQÓx.
RÌPõq® £μ[Pμ¸¢x öhÀ¼ QøÍ°ß C»õ£zøuU
PnUQkP.

QøÍUS Aݨ£mh \μUS (Chõ¨¦ Âø») 45,000 QøÍ°À

ÂØ£øÚ – öμõUP©õP 15,000 QøÍ°À ÂØ£øÚ Phß 19,600
PhÚõÎPÎh® öμõUP® ö£ØÓx 15,400 ÁõiUøP¯õ͸US
AÎzu uÒУi 200. QøÍUS ö\»ÂØPõP Aݨ£¨£mh öμõUP®
6,000 QøÍ°h® C¸¢x v¸¨¤ ö£ØÖU öPõsh \μUS (Chõ¨¦
Âø») 1,500 CÖva \μUS (Chõ¨¦ Âø») 8,400)

4. Sundar Ltd carries on its business through five departments

A, B, C, D and E. the following balances as on 31.12.2005 were
ascertained :
A B C D E

Opening stock 10,000 6,000 15,000 8,000 9,000

Purchases 1,00,000 60,000 20,000 52,000 60,000
Sales 96,000 62,000 19,000 46,000 60,000
Closing stock 23,000 8,000 6,000 2,000 11,000

Prepare department trading account.

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_¢uº ¼ªö©m ußÝøh¯ A, B, C, D ©ØÖ® E BQ¯ I¢x xøÓPÒ

‰»® ¯õ£õμ® ö\´x Á¸QÓõº. 31.12.2005® BskUPõÚ
£μ[PÒ ¤ßÁ¸©õÖ.
A B C D E

B쮣 \μUQ¸¨¦ 10,000 6,000 15,000 8,000 9,000

öPõÒ•uÀ 1,00,000 60,000 20,000 52,000 60,000
ÂØ£øÚ 96,000 62,000 19,000 46,000 60,000
CÖva \μUS 23,000 8,000 6,000 2,000 11,000

xøÓ°ß Â¯õ£õμU PnUøP u¯õ›UPÄ®.

5. X, Y and Z are partners sharing profits in the ratio of 3:1:1 on

31st December 2004, Z decided to retire and the following were
agreed upon.
(a) Furniture to be written down by 1,200 and stock by
4,000
(b) A liability in respect of workmen’s compensation for
4,000 to be provided for
(c) The provision for doubtful debts standing in the books at
5,000 to be reduced by 25%
(d) Goodwill of the firm is valued at 30,000.
X and Y agree that good will account need not continue in
the books and the amount payable to Z may be brought in
by them in their new profit sharing ratio.
You are required to pass necessary journal entries giving
effect to the above.
X, Y, Z BQ¯ ‰Á¸® TmhõÎPÒ 3 : 1 : 1 GßÓ ÂQuzvÀ •øÓ÷¯
C»õ£zøu £Qº¢x öPõshÚº. 31.12.2004 AßÖ Z »QU öPõÒÍ
wº©õÛzx RÌPsh {£¢uøÚPøÍ HØÖU öPõshõº.
(A) ©øÚzxøn¨ ö£õ¸mPÎß ©v¨ø£ 1,200 SøÓzuÀ
\μUQ¸¨¤À 4,000 SøÓzuÀ
(B) öuõÈ»õͺ |mh DhõP 4,000 öPõkUP ÷Ási¯uØS HØ£õk
ö\´uÀ

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(C) 5,000 BP C¸US® ÁμõUPhß Põ¨¤À 25% SøÓzuÀ

(D) |ß©v¨ø£ 30,000 BP PnUQkuÀ
X, Y C¸Á¸® |ß©v¨¤øÚ PnUQÀ Põmh ÷Áshõ® GÚ
•iÄ ö\´x Z US öPõkUP ÷Ási¯ öuõøP°øÚ uõ[P÷Í
¦v¯ C»õ£ ÂQuzvÀ öμõUP® öPõsk Á¸uÀ.
÷©ØPshÁØøÓ ö\¯À£kzx® •uØ SÔ¨÷£mk £vÄPøÍ
u¸P.

6. Karthick and Sarathy were partners in a firm sharing profits in

the ratio of 3 : 2. They admitted doss to 1/3 share. What would be
their new profit ratio in each of the following cases :
(a) If doss acquired his share equally from the old partners.
(b) If doss acquired as 3/12 from Karthick and 1/12th from
Sarathy.
PõºzvU ©ØÖ® \õμv GßÝ® TmhõÎPÒ •øÓ÷¯ 3 : 2 GÝ®
ÂQuzvÀ C»õ£® £Qº¢x Á¸QßÓÚº. AÁºPÒ uõì GߣÁøμ
1/3 £[Qß Ai¨£øh°À ‰mk ÁoPzvÀ ÷\ºzuÚº. ¤ßÁ¸®
JÆöÁõ¸ {ø»°¾® AÁºPÍx ¦v¯ C»õ£ ÂQu® ¯õx?
(A) uõì AÁμx £[øP¨ £øǯ TmhõÎPÎhª¸¢x \©©õP
ö£ØÔ¸¢uõÀ
(B) uõì GߣÁº PõºzvUQhª¸¢x 3/12 £[S® \õμv°hª¸¢x
1/12 £[S® ö£ØÔ¸¢uõº.

7. What is a dependent branch? What are its features?

\õº¢u QøÍ GßÓõÀ GßÚ? Auß Snõv\¯[PÒ ¯õøÁ?

8. The Balance sheet of X Y and Z who were sharing profits in the

ratio of 3 : 1 : 1 stood as follows on 31.12.2005 i.e. the date of
dissolution.
Liabilities Assets
Sundry liabilities 1,05,000 Cash 1,000
X’s Capital 15,000 Bills receivable 4,000
Y’s Capital 10,000 Debtors 25,000
Stock 40,000
Plant 30,000

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Liabilities Assets
Goodwill 10,000
Z’s capital 20,000
1,30,000 1,30,000

Asset realized 79,750, Realization expenses are 2,000,

assuming all the partners are insolvent. Close the books of the
firm by preparing necessary ledger accounts.
C»õ£zøu 3 : 1 : 1 GßÓ ÂQuzvÀ £Qº¢x öPõÒЮ X Y ©ØÖ® Z
GßÓ TmhõÎPÎß C¸¨¦ {ø»U SÔ¨¦ 31.12.2005 AßÖ
RÌPshÁõÖ
ö£õÖ¨¦PÒ ö\õzxUPÒ
£»u쨣mh ö£õÖ¨¦PÒ 1,05,000 öμõUP® 1,000
Xß ‰»uÚ® 15,000 Áμ÷Ási¯ Esi¯À 4,000
Yß ‰»uÚ® 10,000 PhÚõÎPÒ 25,000
\μUS 40,000
ö£õÔ 30,000
|Øö£¯º 10,000
Zß ‰»uÚ® 20,000
1,30,000 1,30,000

ö\õzxUPÎÀ C¸¢x ö£ØÓx 79,500. wºÄa ö\»ÄPÒ 2,000

AøÚzx TmhõÎPЮ ö|õi¨¦ {ø» Aøh¢x ÂmhÚ.
31.12.2005À Tmhõsø© Pø»UP¨£mhx. ÷uøÁ¯õÚ HkPøÍ
u¯õ›UPÄ®.

SECTION B — (3 × 20 = 60 marks)

Answer any THREE questions.

9. From the following particulars prepare Mumbai branch account

in the books of Head Office.

Opening stock at branch 8,900

Opening branch debtors 4,700
Opening petty cash at branch 20
Goods sent to branch 28,400
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Cash sales 15,800

Credit sales 40,400
Cash received from debtors 37,900
Cash sent to branch for expenses
Rent 2,000
Salary 6,000
Petty cash 1,000
Closing stock at branch 5,400
Closing petty cash to branch 30
Goods returned by branch 800

¤ßÁ¸® £μ[Pμ¸¢x •®ø£ QøÍ°ß PnUQøÚ uø»ø©

A¾Á»P HmiÀ u¯õº ö\´¯Ä®.

B쮣 \μUQ¸¨¦ 8,900

B쮣 PhÚõÎPÒ 4,700
B쮣 ]À»øμ öμõUP® 20
QøÍUS Aݨ¤¯ \μUSPÒ 28,400
öμõUP ÂØ£øÚ 15,800
Phß ÂØ£øÚ 40,400
PhÚõÎPÎh® öμõUP® ö£ØÓx 37,900
ö\»ÄUPõP QøÍUS Aݨ¤¯ öμõUP®
ÁõhøP 2,000
\®£Í® 6,000
]À»øÓ öμõUP® 1,000
CÖva \μUQ¸¨¦ 5,400
CÖvPøÍ ]À»øμ öμõUP® 30
QøÍUS v¸¨¤ Aݨ¤¯ \μUSPÒ 800

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10. The following purchases were made by a business house having

three departments :
Department A – 1000 Units
Department B – 2000 Units
Department C – 2400 units at the total cost of 1,00,000
Stock on 1st January were :
Department A – 120 units
Department B – 80 units
Department C – 152 units
The sales were
Department A – 1020 units Rs. 20 each
Department B – 1920 units Rs. 22.50 each
Department C – 2496 units Rs. 25 each
The rate of gross profit is same in each case. Prepare
departmental trading accounts.
RÌPõq® öPõÒ•uÀ ‰ßÖ xøÓPøÍ Eøh¯ {ÖÁÚzuõÀ
öPõÒ•uÀ ö\´¯¨£mhx.
xøÓ A – 1000 A»SPÒ
xøÓ B – 2000 A»SPÒ
xøÓ C – 2400 A»SPÒ ö©õzu Âø» 1,00,000
áÚÁ› 1® |õÒ \μUQ¸¨¦ :
xøÓ A – 120 A»SPÒ
xøÓ B – 80 A»SPÒ
xøÓ C – 152 A»SPÒ
ÂØ£øÚ
xøÓ A – 1020 A»SPÒ 20 Ãu®
xøÓ B – 1920 A»SPÒ 22.50 Ãu®
xøÓ C – 2496 A»SPÒ 25 Ãu®
ö©õzu C»õ£ÂQu® AøÚzx xøÓPÐUS® Jß÷Ó xøÓÁõ›U
PnUQøÚ u¯õº ö\´P.
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11. The trichy trading company purchased a motor car from

Madurai Motor car on hire purchase agreement on 1.1.2000
paying cash 10,000 and agreeing to pay further three
instalments of 10,000 each on 31st Dec each year. The cash
price of the car 37,250 and Madurai Motor car charges interest
at 5% p.a. The Trichy trading co. writes off 10% p.a as
depreciation on the reducing balance method.
Prepare the following accounts in the books of Trichy trading
company.
(a) Interest account
(b) Car account
v¸a] ¯õ£õμ P®ö£Û ©xøμ ÷©õmhõº P®ö£Û°hª¸¢x
÷©õmhõº Põº JßÔøÚ 1.1.2000À ÁõhøP öPõÒ•u¼À Ehß
öμõUP® 10,000 «vø¯ ‰ßÖ uÁønPÎÀ 10,000 Ãu®
JÆöÁõ¸ Bsiß i\®£º 31À AΨ£uõP J¨£¢u® HØ£kzvU
öPõshx. Põ›ß öμõUP Âø» 37, 250 ©xøμ ÷©õmhõº P®ö£Û
BsiØS 5% Ámi PnUQmhx. v¸a] ¯õ£õμU P®ö£Û 10%
SøÓÄ•øÓ Ai¨£øh°À ÷u´©õÚ® }UP •iÄ ö\´ux.
÷©ØTÓ¨£mh ÂÁμ[Pμ¸¢x v¸a] ¯õ£õμU P®ö£Û
¦zuPzvÀ R÷Ç öPõkUP¨£mh PnUSPøÍ u¯õº ö\´P.
(A) Ámi PnURk ©ØÖ®
(B) Põº PnUS.

12. The Balance sheet of Veeran, Samy and Gopal who share profits
in the ratio of 3 : 2 : 1 as on 1.1.2005
Liabilities Assets
Creditors 20,000 Cash 5,000
Capital : Debtors 20,000
Veeran 40,000 Stock 35,000
Samy 30,000 Machinery 70000
Gopal 25,000
Loan :
Veeran 10,000
Samy 5,000
1,30,000 1,30,000

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The firm was dissolved and they have decided to have piecemeal
distribution of cash. The assets realized as follows :
First instalment 25,000 second 45,000, final 45,000
Prepare statement showing the piecemeal distribution of cash.
(Ãμß, \õª, ÷Põ£õÀ BQ÷¯õ›ß 1.1.2005® Bsiß C¸¨¦ {ø»U
SÔ¨¦ ¤ßÁ¸©õÖ AÁºPÎß C»õ£ £[S ÂQu® 3 : 2 : 1
ö£õÖ¨¦PÒ ö\õzxUPÒ
PhÜ¢÷uõº 20,000 öμõUP® 5,000
•uÀ PhÚõÎPÒ 20,000
Ãμß 40,000 \μUSPÒ 35,000
\õª 30,000 C¯¢vμ® 70000
÷Põ£õÀ 25,000
Phß :
Ãμß 10,000
\õª 5,000
1,30,000 1,30,000

C¢u {ø» 1.1.2000À BS®. Aß÷Ó Tmhõsø©ø¯ Pø»UP¨£mk

ö\õzxUPøÍ ÂØÖ Á¸® öuõøPø¯ AÆÁ¨ö£õÊx £Qº¢x
öPõÒÁuõÀ HØ£õk RÌUPshÁõÖ ö\õzxUPÒ ÂØP¨£mhÚ.
•uÀ uÁøn 25,000 Cμshõ® uÁøn 45,000 CÖvz uÁøn
45,000 öμõUPzøu ¤›¨£uøÚU Põmk® AÔUøP u¯õº ö\´P.

13. Kesavan and Kumaran share profits in the ratio of 4:3. They
took a joint life policy on 1.4.2001 for 70,000. Annual premium
is 3,500, its surrender value was as follows :
2001 – Nil ; 2002 – 2,800 ; 2003 – 3,500; 2004 – 4,900.
Kumaran died on 15th November 2004. Claims were received on
31.12.2004 the accounts are closed on 31st December every year.
Prepare joint life policy account and joint life policy reserve a/c.
÷P\Áß, S©μß C¸Á¸® 4 : 3 ÂQuzvÀ »õ£® £[RmkU
öPõÒQßÓÚº. 2001 H¨μÀ •uÀ ÷uv 70,000US Cøn B²Ò
Põ¨¥mk ö\´QßÓÚº. Bsk¨ ¤›ª¯® 3,500 Põ¨¥miß
Âk©v¨¦ ¤ßÁ¸©õÖ :

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2001 – CÀø»; 2002 – 2,800 ; 2003 – 3,500; 2004 – 4,900.

S©μß 2004 |Á®£º 15À CÓ¢uõº. 2004 i\®£º 31À Põ¨¥miß
öuõøP ö£Ó¨£mhx. i\®£º 31À JÆ÷Áõº Bsk® PnUS
•iUP¨£kQÓx.
Cøn B²Ò £õ¼]U PnUøP²®, Cøn B²Ò £õ¼] Põ¨¦U
PnUøP²® u¯õº ö\´P.

—————

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