Accounting paper (TE 416) from the University of Chittagong's fourth-year final examination in 2015. Four required answers deal with accounting information systems, debit and credit rules, bank reconciliation, and trial balance preparation.
B. Sc in Textile Engineering
4th year Final Examination - 2015
Subject: Accounting (Code - TE 416)
Time: 2 Hours | Full Marks: 40 |
(Answer any four of the following questions)
1. a) Define Accounting information system.
b) What do you understand by the terms debit & Credit?
c) What is Golden rule? Explain.
(2+4+4=10)
2. THOMA medical center began the practice of dentistry and during a short period
completed these transactions.
a. Invested Tk. 50,000 in cash
b. Paid the rent on suitable office space for Tk. 10,000
c. Purchased additional dental equipment for cash, Tk. 5,000
d. Completed dental work for a patient and immediately collected Tk. 2,000
cash for the work.
e. Purchased additional dental equipment on credit, Tk. 8,000
f. completed Tk. 2,500 of dental work for a patient on credit
g. Paid the dental assistant's wages, Tk. 3,000
h. Collected Tk. 2,000 of the amount owed by the patient of transaction (f)
i. Paid for the equipment purchased in transaction (e).
Required: Prepare a tabular analysis of the transactions.
10
3. a) What is bank reconciliation statement?
b) ABC International is closing its books for the month ended 30 April2015, Prepare
a bank reconciliation statement based on the following Issus ;
1. The bank statement contains an ending bank balance of Tk. 3,20,000/= & cash book balance is Tk. 2,64,170.
2. The bank statement contains a Tk. 200 cheque printing charge for new cheque that the company ordered.
3. The bank statement contains a Tk. 150 service charge for operating the bank account.
4. The bank statement rejects a deposit of Tk. 500 due to not sufficient funds and charges the company a Tk. 10 fee associated with the rejection.
5. The bank statement contains interest income of Tk. 30.
6. ABC. Issued Tk. 80,000 of cheque that have not yet cleared the cheque by bank.
7. ABC deposited Tk. 25,000 of cheque at month and that were not deposited in time appears on the bank statement.
3+7=10
4. a) What is trial balance? Why it is prepared?
b) The ledger accounts balances of a group of companies are given below for the
month of March 31, 2012 prepare a trial balance of that month.
Name of Accounts | Taka | Name of Accounts | Taka |