Accounting Tally & Peachtree (PDCFA)

KERALA RUTRONIX

(Established by Govt of Kerala)

Accounting Tally & Peachtree

(PDCFA)

Question Code:.         E1
Time:                           2 hours
Maximum Marks:    100
(Note: Write the answers for Questions from 1 to 30 in the MCQ answer sheet)

Part-I Choose the correct answer
(10 x 1 Mark 10Marks)

1) In Tally, you can delete a ledger from the alteration mode by using the ............... shortcut key
a) Alt + D
b) Alt + Y
c) Alt + Del
d) None of these

2) Accounting standards are issued by ..............

a) ICAI
b) IASC
c) ICWA
d) Accounting Standard Board

3) Peachtree follows ................. accounting method
a) Double entry
b) Single entry
c) Accrual
d) Cash

4) A combination of two or more simple journal entries is known as ................
a) Compound entry
b) Complex entry
c) Combination entry
d) None of these

5) The amount of goods withdrawn by the proprietor for his personal use is termed as .................
a) Capital
b) Drawing
c) With Drawing
d) None of these

6) Changes in ledger accounts can be made in .................. mode
a) Display
b) Alter
c) Create
d) None of these

7) In Peachtree, how many fields are created in Vendor's form?
a) 4
b) 3
c) 7
d) 1

8) Bank account is .................. account
a) Personal
b) Real
c) Nominal
d) None of these

9) All operating expenses are debited in the account
a) Trading
b) Profit & Loss
c) Cash
d) None of these

10) in Tally, the ............. Function key is used to get Payment Voucher Entry Screen
a) F8
b) F5
c) F4
d) None of these

Part II Fill in the blanks
(10 x 1 Mark 10Marks)

11) Financial statements consist of ................ Statement & ................ Statement

12) In Peachtree default customer type is ................

13) A bank reconciliation statement is prepared by ..................

14) Indirect expenses are debited to ..............

15) in Tally Bad debts come under ............... group

16) In ................. transaction the amount agreed to be paid after a particular period of time.

17) ............. Is prepared to ascertain financial position of the business

18) ................. Is the verification of bank statement balance & the depositor's check balance.

19) To select a company ................. function key is used

20) The expenses related to current year but remain unpaid is called .................

Part-III State whether True or False
(10 x 1 Mark 10 Marks)

21) Single entry system is based on purely cash accounting

22) Prepaid expenses are regarded as a liability to the business at the end of the financial year

23) Salary is debited to Trading a/c

24) A ledger a/c is treated in 'T' form

25) Official Expense is also known as Indirect Expense.

26) Net profit is calculated by deducting Cost of Sales from Sales

27) Suppliers come under Accounts Receivable group in Peachtree.

28) Bank Overdraft.comes under Bank Overdraft a/c in Tally

29) The two sides of a Balance Sheet will always Tally

30) The amount received from the sale of a fixed asset is capital receipt

(Part IV, Part V ചോദ്യങ്ങൾ മലയാളത്തിലും എഴുതാം)

Part-IV Answer the following (Any five)
(5 x 10 Marks 50 Marks)

31) Explain the window elements of Peachtree

32) What is accounting? Describe the functions of accounting

33) Explain the difference between Profit & Loss account and Balance sheet.

34) Write about purchase order & sales order in Tally

35) What are Financial Statements?

36) Calculate the gross profit of the following
Purchases.                   10,000
Purchases Returns.    2,000
Sales.                             20,000
Sales Returns.              5,000
Wages                           4,000
Carriage Charges.       2,000
Opening stock             4,000
Closing Stock.              6,000

Part-V. Answer any one of the following
(1 x 20 Marks = 20 Marks)

37) Journalize the following transactions, prepare ledger accounts and also Prepare a Trial Balance

a) Raj started business with a capital of ₹ 10,000/-

b) He purchased goods from Madhav on credit ₹ 2,000/-

c) He paid cash to Madhav ₹ 1,000/-

d) He sold goods to Sharath ₹ 2,000/-

e) He received cash from Sharath ₹ 3,000/-

f) He further purchased goods from Madhav ₹ 2000/-

g) He paid cash to Madhav ₹ 1,000/-

h) He further sold goods to Sharath Rs. 2,000

i) He received cash from Sharath Rs. 1.000

OR

38) From the following balance extracted from the books of M/s Swindler, pass the necessary closing entries, prepare a Trading and Profit and Loss Account and a Balance Sheet.

Particulars                                ₹

Opening Stock.                          1250
Sales.                                           11800
Depreciation.                             667
Commission (Cr).                      221
Insurance.                                  380
Carriage Inwards.                    300
Furniture.                                  670
Printing Charges.                     481
Carriage Outwards.                 200
Capital.                                       9228
Creditors.                                   1780
Bills Payable.                             541
Plant and Machinery.              6230
Returns Outwards.                   1380
Cash in hand.                             895
Salaries.                                      750
Debtors.                                      1905
Discount (Dr.).                           328
Bills Receivable.                       2730
Wages.                                        1589
Returns Inwards.                     1659
Bank Overdraft.                       4000
Purchases.                                 8679
Petty Cash in Hand.                 47
Bad Debts.                                 180

The value of stock on 31 December, 2009 was ₹ 3,700/-