BCA Semester 2 – Financial Accounting – Unit 2: Accounting Process (10Hrs)

Following cash and bank transactions of a month are given to you,
1 Balance of cash Rs 30,000 and bank 40,000.
2 Purchased goods for Rs 15,000, paid Rs 5,000 on cash and the balance through cheque after allowing a discount of Rs 500.
15 Rent received Rs 12,000.
22 Sales of goods at Rs 21,000, received Rs 5,000 on cash and the balance through cheque after the deduction discount of Rs 1,600.
27 Deposited cash into the bank Rs 10,000
Required: Cash book with cash and bank column.

Define accounting. Mention any three objective of accounting.

Following transactions are provided to you :
$\quad$01 March Started business with cash Rs 2,00,000.
$\quad$04 March Deposited cash into bank Rs 50,000.
$\quad$13 March Purchased goods from creditors for Rs. 80,000 and paid cash only 30,000.
$\quad$17 March Sold goods on cash Rs 1,00,000.
$\quad$20 March Paid salary Rs 15,000 through cheque.
$\quad$23 March Received interest Rs 10,000.
$\quad$30 March Paid to creditors cash Rs 18,000 and received discount Rs 2,000.
$\quad$31 March Returned goods to creditors of Rs 5,000.
Required: Journal Entries and Creditors' Account.

Following cash and banking transactions were given to you.
1, December, Balance of cash Rs. 6,200 and at bank Rs. 25,500.
9, December, Received a cheque of Rs. 5,000 from Pravin.
15, December, Goods purchased at Rs. 12,000 and paid in cash 4,000 and balance by Cheque.22, December, Cash drawn from bank for office use Rs. 8,000.
31, December, Paid salary Rs. 7,000 by cheque and Rs. 3,000 office rent in cash.
Required: Cash book with a cash and bank column.

Following sales transactions were given to you:
1, Chaitra Sold following items to Gurung Store, Pokhara
20 table fans @ Rs. 1,500 each.10 ceiling fans Rs. 1,000 each.
10, Chaitra Sold following items to Saru Brothers, Damauli
15 pressure cookers Rs. 1,000 each.
10 rice cookers Rs. 800 each.(Trade discount 10 percent)
18, Chaitra Sold 13 pressure cookers Rs. 900 each on cash to Shrestha Store, Gorkha
25, Chaitra Sold following items to Puri Store, Parbat.
25 table fans Rs. 1,500 each with trade discount 5 percent.
10 ceiling fans Rs. 1,000 each.
Required: Sales book and sales account.

Describe matching and periodic concepts of accounting with example.

Mr. Raj started business from Baishak 2075. He had given following information of business for the month.
1, Baishakh, started business in cash Rs. 3,00,000 and computer Rs. 50,000.
3, Baishakh, Purchased goods on cash Rs. 1,00,000 and credit Rs.1,00,000 from Thapa supplier.
4, Baishakh, Opened bank account at Prime Commercial Bank Rs. 90,000.
5, Baishakh, goods sold on Cash Rs.50,000 and on credit to Shrestha Rs. 30,000.
10 Baishakh, Goods purchased at Rs. 60,000 on credit from Thapa supplier.
15, Baishakh, Cash received from Shrestha Rs. 28,500 as full settlements.
22, Baishakh, Cash paid to Thapa supplier Rs. 98,000 and discount received Rs.2000.
24, Baishakh, Goods purchased from Nepal suppliers at Rs. 50,000, partial payment made by Cheque Rs. 20,000.
29, Baishakh, Electricity bill Rs. 3,000 and house rent Rs. 10,000 paid by issue of Cheques and salary Rs. 7,000 in cash.
Required: Journalized the above transactions and prepared ledger account of purchase, and Thapa supplier.