Computer Lab - Practical Question Bank

Computer Lab - Practical Question Bank

FACULTY OF COMMERCE, OSMANIA UNIVERSITY

----------------------------------------------------------------------------------

B.Com (All Streams) I Year W.E.F.2008-09

FINANCIAL ACCOUNTING

Time: 60 Minutes                                                        Record                :  10

Skill Test        :  20  

Total Marks        :  30

Note: Problems are to be solved by using computers (Excel/Accounting package).

1. Create a company with your name with full details enter 10 cash and 5 bank transactions.

1. Show the balance sheet of XYZ Company, with the following accounts, under relevant groups with imaginary figures:

5 Fixed assets a) Land  b) Building c) Machinery  d) Furniture e) Goodwill

5 Current assets a) Trade Debtors b) Stock c) Bills Receivable d) Bank e) Cash

2 Loan accounts  a) Loan from Andhra Bank  b) Loan from Ramu

1 Capital account.

1. Assuming your own figures prepare a cash book for the following cash transactions:

1. Ramu brought in cash towards Capital Rs.25,000.
2. Deposited into bank Rs.20,000
3. Purchased goods Rs.3,000
4. Sale of goods worth Rs.8,000
5. Paid to Hrithik ( a supplier) Rs.5,000
6. Received from Mohan ( a customer) Rs.6,000.

1. Prepare cash book with bank column  for the following bank transactions in Andhra Bank and ascertain Bank balance.

Balance at Bank Rs.2,00,000

Paid to Rajesh Rs.10,000 by cheque

Paid to Mahesh Babu Rs.25,000 by cheque

Received a cheque from Ragini Rs.38,000

Received from Sneha Rs.50,000 by cheque.

1. Give effect to the following discounts in the transactions.

a)  Purchased goods worth Rs.5,000 less 5% Trade discount.

b)  Rs.2,646 received from Vijay and allowed discount Rs.54 Cash.

c)  Rs.5,292 paid to Anand and discount given by him Rs.108.

1. Prepare  Trail Balance from the information given below:

1. Compute Net Profit from the given transactions:

1. Prepare the trading and Profit and Loss account and the Balance Sheet.

9.       Opening Balance sheet:                                    Rs.

 Pass adjustment entries and finalize the P & L account and Balance sheet.

1. Create a company of your own and generate a Petty cash book with 10 transactions. Assume own amounts.

1. Create a company of your own and generate a sales Register and Purchase register with  any 10 transactions each, with imaginary figures.

1. Prepare the trading and P & L A/C and also Balance Sheet:

1. From the following information prepare P & L account and B/S.

Opening balance sheet

1. Enter the following transactions by creating relevant accounts and groups.

Purchased goods from Ram Rs.10,000

Purchased goods from Roshan Rs.5,000

Purchased goods from Mohan Rs.20,000

Sold goods to Leela Rs.25,000

Sold goods to Praveena Rs.30,000