Pages

Thursday, April 25, 2013

BBA (Sem. - 2nd) FINANCIAL ACCOUNTING SUBJECT CODE : BB - 201 Paper ID: [C0207]

punjabtechnicaluniversity.blogspot.in



Roll No.......................                     
Total No. of Questions : 07]                                                                                        [Total No. of Pages : 03
BBA (Sem. - 2nd) FINANCIAL ACCOUNTING SUBJECT CODE : BB - 201 Paper ID: [C0207]
[Note : Please fill subject code and paper ID on OMR]

Time : 03 Hours                                                                                                       Maximum Marks : 60
Instruction to Candidates:
1)            Section - A is Compulsory.
2)            Attempt any Four questions from Section - B.



Section - A
Q1                                                                                                                                                               (10,2 =
a)            Ledger.
b)           Bookkeeping vs. Accounting.

c)    Current Assests.
d)         Net worth.
e)              Marshaling.
f)               Realization concept.
g)              Going concern concept.
h)         Bank reconciliation statement.
i)          Errors of omission.
j)
          Depreciation.


J-27318,29,                                                                                                                                                                RTa
Section - B
(4x 10 = 40)
Q2)   Discuss in detail nature, scope and limitations of financial accounting.

Q3)   (a)   What is the need to journalize the business transactions? (b)  Explain the classification of different types of accounts.

Q4)   What are the different types of errors that creep into while preparing trial balance?



Q5)   Prepare Trading and profit and loss account of M/S Konark Enterprises for the year ended 31st




                      
                  Balance
            Rs.
                 Credit Balance
          Rs.
                 Equipment
10000
Accumulated     depreciation (furniture)
              1800
              Furniture
12000
Accumulated      depreciation (equipment)
1500
                   Opening stock
               29560
                  Creditors
2380
                 Office supplies
2180
                 Share capital
30000
              Debtors
3400
                Retained earnings
1710
               Cash
 2740
           Sales
88950
               Prepaid insurance
2400
                Purchase returns
970
  
                and allowance

             Prepaid advertisement
                 1900
P                 urchase discounts
190
              Sales returns and allowance
1300


              Sales discount
750


                   Purchases
37910


              Freight in
2950


             Office salary
2400


           Sales salary
8100


             Delivery expenses
500


             Telephone expenses
910


             Store rent
3300


             Office rent
2200


               Dividend
3000



127500

127500



Ramesh construction company purchased equipment for Rs. 20 lacs in 2001. The equipment was expected to useful for seven years or 15000 hours, with an estimated residual value of Rs. 2 lacs at the end of that time. The equipment logged 2000 hours in the first year, 1000 hours in second year and 3000 hours in second year. Depreciation rate may be taken at 14%. You are required to compute the depreciation expense for the first year under each of the following methods :
(a)         Written down value.
(b)         Straight line method.

From the following information, prepare a Bank Reconciliation Statement as on 31st March, 2008 for M/S New Steel Ltd :
(a)         Bank overdraft as per cash book Rs. 25,000.
(b)         Interest debited by the bank on 26th March but not no advice received Rs. 3,000.
(c)         Cheques i ssued before 31st March but not presented to bank for payment Rs. 7,000.
(d)         Transport subsidy received from government directly by the bank but not advised to the company Rs. 4,000.
(e)         Draft deposited in the bank but not credited till 31st March Rs. 1,500.
(f)          Bills for collection credited by the bank till 31st March but no advice received by the company Rs. 9,000.
(g)         Amount wrongly debited to company by the bank for which no details are available Rs. 800,












Post a Comment