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This document contains information for a business organization course, including: 1) Defining business and listing the features of business organizations. 2) Detailing the types of business organizations. 3) Comparing the differences between partnerships and joint hindu families. 4) Discussing the merits and demerits of corporate societies. It also includes sample accounting documents like a trial balance, journal entries, and profit and loss statement to practice accounting skills for business organizations.

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RE GHA
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89 views3 pages

Answer

This document contains information for a business organization course, including: 1) Defining business and listing the features of business organizations. 2) Detailing the types of business organizations. 3) Comparing the differences between partnerships and joint hindu families. 4) Discussing the merits and demerits of corporate societies. It also includes sample accounting documents like a trial balance, journal entries, and profit and loss statement to practice accounting skills for business organizations.

Uploaded by

RE GHA
Copyright
© © All Rights Reserved
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Download as DOCX, PDF, TXT or read online on Scribd
Download as docx, pdf, or txt
Download as docx, pdf, or txt
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Year : 2017-18 Semester : I

Batch :2016-17 Business Organization

1)Define Business.

2)Write down the features of Business organization.

3)What are the types of Business Organization.

4)Write down the difference between partnership and joint hindu family.

5)What are the merits and demerits of cooperate society.

December, 2010.

Particulars Amount (Dr.) Amount (Cr.)

Plant and machinery 8,00,000

Land and Building 6,00,000


Furniture 1,50,000

Cash in Hand 20,000

Bank Overdraft 1,80,000

Debtors and Creditors 3,20,000 2,40,000

Bills Receivable and Bill Payable 1,00,000 60,000

Closing Stock 4,00,000

Investments (Short-term) 80,000

Capital 15,00,000

Drawings 1,30,000

Net Profit 6,20,000

26,00,0000 26,00,0000

2.Prepare journal entries for the followings:

1 - Business started with cash 8,000 and plant & machinery 3,000.
2 - Stock purchase for sale (cash purchase)= 3,000, credit purchase = 5,000
3 - Wages paid 120,000 (including 20,000 relating to a future year).
4 - Salaries paid 200,000 but due 110,000.
5 - Sales made for cash 600,000 & on credit 800,000.
6 - Depreciation 10 percent on plant & machinery.
7 - Goods costing 20,000 destroyed by fire.
8 - Payment made to creditors to the value of 200,000 at 10 percent discount

3) Record the following transactions in the Journal and post them into ledger and prepare a Trail Balance

Oct 1st : Neel started business with a capital of 80,000


3rd : Bought goods from Karl on credit 20,000
4th : Sold goods to Tarl 25,000
5th : Cash purchases 25,000
7th : Cash sales 15,000
9th : Goods retuned to Karl 2,000
10th : Bought furniture for 15,000
11th : Cash paid to Karl 12,000
12th : Goods returned by Tarl 3,000
14th : Goods taken by Neel for personal use 3,000
15th : Cash received from Tarl 12,000
16th : Took loan from Parl 30,000
17th : Salary paid 5,000
18th : Bought stationery for 1,000
19th : Amount paid to Parl on loan account 18,000
20th : Interest received 4,000

4) From the following particulars, prepare a Profit & Loss Account for the year ending 31st December, 2010.

Rs. Rs.
Gross Profit 21,05,000 Discount allowed 30,000
Trade Expenses 20,000 Lighting 7,800
Carriage on Sales 1,00,000 Commission Received 8,400
Office Salaries 1,58,000 Bad-debts 12,000
Postage and Telegram 7,200 Discount (Cr.) 6,000
Office Rent 75,00 Interest on Loan 22,000
Legal Charges 4,000 Stable Expenses 14,000
Audit Fee 16,000 Export Duty 23,000
Donation 11,000 Miscellaneous Receipts 5,000
Sundry Expenses 3,600 Unproductive Expenses 41,000
Selling Expenses 53,200 Travelling Expenses 25,000

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