Download PTU (I.K. Gujral Punjab Technical University Jalandhar (IKGPTU) BBA (Bachelor of Business Administration) 2020 March 1st Sem 10540 Financial Accounting Previous Question Paper
Roll No. Total No. of Pages : 04
Total No. of Questions : 09
BBA (2014 to 2017)/BRDM/B.SIM (2014 & Onwards)
(Sem.?1)
FINANCIAL ACCOUNTING
Subject Code : BBA-103
M.Code : 10540
Time : 3 Hrs. Max. Marks : 60
INSTRUCTIONS TO CANDIDATES :
1. SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks
each.
2. SECTION-B consists of FOUR Sub-sections : Units-I, II, III & IV.
3. Each Sub-section contains TWO questions each, carrying TEN marks each.
4. Student has to attempt any ONE question from each Sub-section.
SECTION-A
1. Answer briefly :
a) Objectives of book-keeping.
b) Advantages of accounting.
c) Contra entry.
d) Journal.
e) Capital expenditure.
f) Objectives of trail balance.
g) Suspense account.
h) Non-profit organization.
i) Pass book and cash book
j) Bank reconciliation statement.
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1 | M - 1 0 5 4 0 ( S 1 2 ) - 8 0 7
Roll No. Total No. of Pages : 04
Total No. of Questions : 09
BBA (2014 to 2017)/BRDM/B.SIM (2014 & Onwards)
(Sem.?1)
FINANCIAL ACCOUNTING
Subject Code : BBA-103
M.Code : 10540
Time : 3 Hrs. Max. Marks : 60
INSTRUCTIONS TO CANDIDATES :
1. SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks
each.
2. SECTION-B consists of FOUR Sub-sections : Units-I, II, III & IV.
3. Each Sub-section contains TWO questions each, carrying TEN marks each.
4. Student has to attempt any ONE question from each Sub-section.
SECTION-A
1. Answer briefly :
a) Objectives of book-keeping.
b) Advantages of accounting.
c) Contra entry.
d) Journal.
e) Capital expenditure.
f) Objectives of trail balance.
g) Suspense account.
h) Non-profit organization.
i) Pass book and cash book
j) Bank reconciliation statement.
2 | M - 1 0 5 4 0 ( S 1 2 ) - 8 0 7
SECTION-B
UNIT-I
2. What do you mean by accounting? What are the objectives of it?
3. Enter the following transactions in cash book with cash, bank and discount column :
Dec. 1 cash in hand Rs. 16,000; Dec.2 opened a bank account with Rs. 7,000; Dec. 3 cash
purchase Rs. 600; Dec. 4 Received a cheque of Rs. 400 from Mr. Prabhakar and gave him
Discount Rs. 25; Dec. 6 cash sale Rs. 1,200; Dec. 7 Received a cheque of Rs. 100 from
Venketesh for interest; Dec. 9 Salary paid to the office manager by cheque Rs. 450 ; Dec.
11 Withdrew from bank for personal use Rs. 300 ; Dec. 15 purchased a bicycle for office
use Rs. 300; Dec. 18 paid office rent Rs. 80; Dec. 20 Sold goods to Shah for cash
Rs. 900 ; Dec. 22 purchased government bonds Rs. 700; Dec. 25 paid travelling
allowance to the office manager Rs. 150; Dec. 27 Received commission Rs. 175; Dec. 28
Gave a cheque to Ajanta printers for advertisement Rs. 50; Dec. 29. The cheque received
from Prabhakar on 4
th
December was dishonoured; Dec. 31 Cash in excess of Rs. 2,000
was paid into bank. Balance it.
UNIT-II
4. What do you mean by rectification of error? Describe the various methods of rectification
of errors.
5. The following information relates to Anjali who requests you to prepare adjusted cash
book and reconcile the same with her pass book :
Rs.
Cash book balance (credit) 400
Cheques issued not presented 720
Cheques sent in but not collected 130
In addition you are told that
1. Debit side of the cash book (bank column) has been undercast by Rs. 250.
2. Cheque issued for Rs. 100 to a creditor was strongly entered in the cash column.
3. Bank cheque Rs. 40 do not appear in cash book.
UNIT-III
6. Discuss briefly the merits and limitations of straight line method and diminishing balance
method ?
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Roll No. Total No. of Pages : 04
Total No. of Questions : 09
BBA (2014 to 2017)/BRDM/B.SIM (2014 & Onwards)
(Sem.?1)
FINANCIAL ACCOUNTING
Subject Code : BBA-103
M.Code : 10540
Time : 3 Hrs. Max. Marks : 60
INSTRUCTIONS TO CANDIDATES :
1. SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks
each.
2. SECTION-B consists of FOUR Sub-sections : Units-I, II, III & IV.
3. Each Sub-section contains TWO questions each, carrying TEN marks each.
4. Student has to attempt any ONE question from each Sub-section.
SECTION-A
1. Answer briefly :
a) Objectives of book-keeping.
b) Advantages of accounting.
c) Contra entry.
d) Journal.
e) Capital expenditure.
f) Objectives of trail balance.
g) Suspense account.
h) Non-profit organization.
i) Pass book and cash book
j) Bank reconciliation statement.
2 | M - 1 0 5 4 0 ( S 1 2 ) - 8 0 7
SECTION-B
UNIT-I
2. What do you mean by accounting? What are the objectives of it?
3. Enter the following transactions in cash book with cash, bank and discount column :
Dec. 1 cash in hand Rs. 16,000; Dec.2 opened a bank account with Rs. 7,000; Dec. 3 cash
purchase Rs. 600; Dec. 4 Received a cheque of Rs. 400 from Mr. Prabhakar and gave him
Discount Rs. 25; Dec. 6 cash sale Rs. 1,200; Dec. 7 Received a cheque of Rs. 100 from
Venketesh for interest; Dec. 9 Salary paid to the office manager by cheque Rs. 450 ; Dec.
11 Withdrew from bank for personal use Rs. 300 ; Dec. 15 purchased a bicycle for office
use Rs. 300; Dec. 18 paid office rent Rs. 80; Dec. 20 Sold goods to Shah for cash
Rs. 900 ; Dec. 22 purchased government bonds Rs. 700; Dec. 25 paid travelling
allowance to the office manager Rs. 150; Dec. 27 Received commission Rs. 175; Dec. 28
Gave a cheque to Ajanta printers for advertisement Rs. 50; Dec. 29. The cheque received
from Prabhakar on 4
th
December was dishonoured; Dec. 31 Cash in excess of Rs. 2,000
was paid into bank. Balance it.
UNIT-II
4. What do you mean by rectification of error? Describe the various methods of rectification
of errors.
5. The following information relates to Anjali who requests you to prepare adjusted cash
book and reconcile the same with her pass book :
Rs.
Cash book balance (credit) 400
Cheques issued not presented 720
Cheques sent in but not collected 130
In addition you are told that
1. Debit side of the cash book (bank column) has been undercast by Rs. 250.
2. Cheque issued for Rs. 100 to a creditor was strongly entered in the cash column.
3. Bank cheque Rs. 40 do not appear in cash book.
UNIT-III
6. Discuss briefly the merits and limitations of straight line method and diminishing balance
method ?
3 | M - 1 0 5 4 0 ( S 1 2 ) - 8 0 7
7. From the following trial balance of M/s Ram Co., Patna, Prepare a Trading and Profit and
Loss A/c for the year ending 31
st
March 2011 and also Balance Sheet as on that date :
Sr.No. Particular Dr. Amount Cr.Amount
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
Capital A/c
Drawings
Land and Buildings
Plant and Machinery
Furniture
Carriage
Wages
Salaries
Bad debt, Provision (1.4.2010)
Sales
Return in ward
Bank charges
Taxes
Discount
Purchases
B/R
Debtors
Creditors
Stock (1.4.2010)
Cash in hand
Bank Loan
Nil
3250
12750
7250
750
2125
10750
2350
--
--
900
750
425
--
20000
--
18900
--
12500
7000
--
45000
--
--
--
--
--
--
--
1250
47500
--
--
--
60
--
750
--
6125
--
--
515
100450 100450
UNIT-IV
8. What is Receipts and Payment Accounts ? Why it is prepared?
9. The following is the Receipts and payments account of the jolly makers club in respect of
the year ending March 31, 2011
Receipt Rs. Payments Rs.
To Balance (1.4.10)
To Subscription
2009-10 80
2010-11 4220
2011-12 160
To Profit on sports meeting
To Interest on Investment
To Sundry Receipt
2050
4460
2850
2000
250
By Salaries
By Rates and taxes
By Stationery
By Telephone Expenses
By Investment in Govt. Securities
By Sundry Expenses
By Balance c/d (31-3-11)
4160
1200
800
200
2500
1850
900
11610 11610
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1 | M - 1 0 5 4 0 ( S 1 2 ) - 8 0 7
Roll No. Total No. of Pages : 04
Total No. of Questions : 09
BBA (2014 to 2017)/BRDM/B.SIM (2014 & Onwards)
(Sem.?1)
FINANCIAL ACCOUNTING
Subject Code : BBA-103
M.Code : 10540
Time : 3 Hrs. Max. Marks : 60
INSTRUCTIONS TO CANDIDATES :
1. SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks
each.
2. SECTION-B consists of FOUR Sub-sections : Units-I, II, III & IV.
3. Each Sub-section contains TWO questions each, carrying TEN marks each.
4. Student has to attempt any ONE question from each Sub-section.
SECTION-A
1. Answer briefly :
a) Objectives of book-keeping.
b) Advantages of accounting.
c) Contra entry.
d) Journal.
e) Capital expenditure.
f) Objectives of trail balance.
g) Suspense account.
h) Non-profit organization.
i) Pass book and cash book
j) Bank reconciliation statement.
2 | M - 1 0 5 4 0 ( S 1 2 ) - 8 0 7
SECTION-B
UNIT-I
2. What do you mean by accounting? What are the objectives of it?
3. Enter the following transactions in cash book with cash, bank and discount column :
Dec. 1 cash in hand Rs. 16,000; Dec.2 opened a bank account with Rs. 7,000; Dec. 3 cash
purchase Rs. 600; Dec. 4 Received a cheque of Rs. 400 from Mr. Prabhakar and gave him
Discount Rs. 25; Dec. 6 cash sale Rs. 1,200; Dec. 7 Received a cheque of Rs. 100 from
Venketesh for interest; Dec. 9 Salary paid to the office manager by cheque Rs. 450 ; Dec.
11 Withdrew from bank for personal use Rs. 300 ; Dec. 15 purchased a bicycle for office
use Rs. 300; Dec. 18 paid office rent Rs. 80; Dec. 20 Sold goods to Shah for cash
Rs. 900 ; Dec. 22 purchased government bonds Rs. 700; Dec. 25 paid travelling
allowance to the office manager Rs. 150; Dec. 27 Received commission Rs. 175; Dec. 28
Gave a cheque to Ajanta printers for advertisement Rs. 50; Dec. 29. The cheque received
from Prabhakar on 4
th
December was dishonoured; Dec. 31 Cash in excess of Rs. 2,000
was paid into bank. Balance it.
UNIT-II
4. What do you mean by rectification of error? Describe the various methods of rectification
of errors.
5. The following information relates to Anjali who requests you to prepare adjusted cash
book and reconcile the same with her pass book :
Rs.
Cash book balance (credit) 400
Cheques issued not presented 720
Cheques sent in but not collected 130
In addition you are told that
1. Debit side of the cash book (bank column) has been undercast by Rs. 250.
2. Cheque issued for Rs. 100 to a creditor was strongly entered in the cash column.
3. Bank cheque Rs. 40 do not appear in cash book.
UNIT-III
6. Discuss briefly the merits and limitations of straight line method and diminishing balance
method ?
3 | M - 1 0 5 4 0 ( S 1 2 ) - 8 0 7
7. From the following trial balance of M/s Ram Co., Patna, Prepare a Trading and Profit and
Loss A/c for the year ending 31
st
March 2011 and also Balance Sheet as on that date :
Sr.No. Particular Dr. Amount Cr.Amount
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
Capital A/c
Drawings
Land and Buildings
Plant and Machinery
Furniture
Carriage
Wages
Salaries
Bad debt, Provision (1.4.2010)
Sales
Return in ward
Bank charges
Taxes
Discount
Purchases
B/R
Debtors
Creditors
Stock (1.4.2010)
Cash in hand
Bank Loan
Nil
3250
12750
7250
750
2125
10750
2350
--
--
900
750
425
--
20000
--
18900
--
12500
7000
--
45000
--
--
--
--
--
--
--
1250
47500
--
--
--
60
--
750
--
6125
--
--
515
100450 100450
UNIT-IV
8. What is Receipts and Payment Accounts ? Why it is prepared?
9. The following is the Receipts and payments account of the jolly makers club in respect of
the year ending March 31, 2011
Receipt Rs. Payments Rs.
To Balance (1.4.10)
To Subscription
2009-10 80
2010-11 4220
2011-12 160
To Profit on sports meeting
To Interest on Investment
To Sundry Receipt
2050
4460
2850
2000
250
By Salaries
By Rates and taxes
By Stationery
By Telephone Expenses
By Investment in Govt. Securities
By Sundry Expenses
By Balance c/d (31-3-11)
4160
1200
800
200
2500
1850
900
11610 11610
4 | M - 1 0 5 4 0 ( S 1 2 ) - 8 0 7
The following additional facts are ascertained :
1. Stock of stationary on April 1, 2010 was Rs. 100 and on march 31, 2011 Rs. 180 .
2. Rates & taxes were prepaid to the extent of Rs. 400.
3. Telephone charges outstanding amounts to Rs. 75.
4. In 2009-10 subscription received in advanced amounted to Rs. 200 for current year
and Rs. 180 were due on March 31, 2011.
5. On March 31, 2011 the building stood in the books at Rs. 20,000 & It is required to
write off depreciation at 5%. Investment on March 31, 2010 were Rs. 4000.
You are required to prepare Income & Expenditure and Balance Sheet on that date.
NOTE : Disclosure of Identity by writing Mobile No. or Making of passing request on any
page of Answer Sheet will lead to UMC against the Student.
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This post was last modified on 01 April 2020