Jan 302014
 

SLC Model Question Set 3 (Accountancy)

Group ‘A’

Answer the following questions in one sentence. 5×1=5

1. Give the full form of SWIFT.

2. Which is the first bank of Nepal? When was it established?

3. Why is trading a/c prepared?

4. Who is the final auditor of company?

5. Write the AGF no. of Bank cash book and Bank reconciliation statement.

 Group ‘B’

Give short answer of the following questions. 8×5=40

6. Explain five types of report.

7. What is numerical filing system? Mention four advantages and disadvantages of it.

8. Why home trade is necessary? Describe its four procedures orderly.

9. From the following particulars, prepare Trial Balance of Ram & Sons store, Bhaktapur, as on 31st Ashad 2069.

Capital    50,000.00 Reserve fund    23,000.00
Purchase    52,500.00 Drawing      4,000.00
Depreciation      1,700.00 Bank overdraft    35,000.00
Creditor      6,500.00 Account payable      7,500.00
Inventory      9,800.00 Loose & tools    54,000.00


10. From the following particular prepare Profit & Loss Account of Deurali Club for the fiscal year 2069/70.

Gross loss    10,000.00 Commission earned    25,000.00
Bad debt recovered    38,000.00 Corporate tax      5,000.00
Discount on sales      7,000.00 Discount on purchase    15,000.00
Interest charge    11,000.00 Interest from investment    30,000.00
Legal charge    20,000.00 Advertisement    12,000.00
Rent from tenant    18,000.00 Interest on capital    13,000.00


11. Prepare Balance Sheet of New Café, Bhaktapur for fiscal Year 2069/70.

Capital    30,000.00 Income due    12,000.00
Net profit    45,000.00 Drawing      9,000.00
Motor call    20,000.00 Fixture      3,000.00
Land    31,000.00 Closing stock    10,000.00
Debtors      8,000.00 Bank overdraft    20,000.00
Outstanding rent      5,000.00 Investment      7,000.00


12. What is auditing? Write the differences between internal and external auditing.

13. Write the meaning of budget sheet and explain its part.

 Group ‘C’

Write long answer to the following questions. 10×3=30

14. Give an introduction of life insurance and describe its five types.

15. Prepare journal voucher for the following transactions provided by Tax Office, Bhaktapur.

On 2069-11-01 Received a bank transfer of Rs. 300,000 equal to last months expenditure as a Budget released.
On 2069-11-02 Cheque no. 0012, issued to house owner in advance for three months Rs. 5,000 per month.
On 2069-11-03 Purchased two computer for Rs. 30,000 each and issued a cheque for the payment.
On 2069-11-04 Cleared office expenses advance of Sushma with an expenditure bill of Rs. 10,000 and pay in slip of Rs. 2,500
On 2069-11-05 Out of total salary for the month of Falgun Rs. 220,000 a sum of Rs. 40,000 for provident fund Rs. 10,000 for Tejarath loan and Rs. 4,000 for income tax were deducted and balance was paid through cheque.


16. Prepare the statement of expenditure of the month of Chaitra 2069.

BH. No.  Budget head Annual Budget Expenditure up to Falgun  Expenditure of Chaitra
21111  Salary     300,000.00            200,000.00    30,000.00
22311  Office Expense       90,000.00              60,000.00      5,000.00
21121  Uniform       12,000.00                 8,000.00      1,000.00
29311  Furniture       48,000.00              24,000.00      6,000.00
29411  Vehicles       50,000.00              25,000.00      5,000.00
29511  Machinery       35,000.00              20,000.00      4,000.00
    535,000.00            337,000.00    51,000.00


Additional information:
a) Revolving fund balance Rs. 75,000
b) Unclear advance Rs. 6,000
c) Petty Cash found Rs. 5,000



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 Posted by at 5:26 pm