Download OU BBA LLB-5 Years 1st Semester 2018 March-April Financial Accounting Question Paper

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Code No. 9631

FACULTY OF LAW

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BBA. LL.B (5 YDC) I Year I-Semester Examinations, March / April 2018

Subject: Law

Paper - IV: Financial Accounting

Time: 3 Hours

Max. Marks: 80

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PART-A (5x6=30 Marks)

Answer any FIVE of the following:

1. Types of accounts
2. Accounting
3. Purchases Book Vs. Purchases Return Book

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4. Bank Reconciliation statement
5. Errors of Commission
6. Suspense Account
7. Capital Profit Vs. Revenue Profit
8. Straight Line Method Vs. Diminishing Balance method

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PART-B (4x12½ = 50 Marks)

Answer any FOUR of the following questions:

1. Explain the objectives, uses and limitations of Financial accounting.
2. Transactions of Ramesh for April 2017 are given below. Journalise them.
   
   

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   Rs.
   April
   Ramesh started business with cash 10,000
   Paid into Bank 7,000
   Bought goods for cash 500
   

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   Cash paid Shyam 6,000
   Cash Sales 800
   Paid rent 50
   Paid salary 100
3. Describe the preparation of trial balance.

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4. Explain the causes of difference in bank balance according to pass book and cash book.
5. Explain the types of accounting errors.
6. Differentiate between Capital and Revenue, Profit and Loss.
7. Explain the methods of depreciation.
8. From the following balances prepare Trading and Profit and Loss and a Balance Sheet.
   

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   Debit Balance	Rs.	Credit Balance	Rs.
   Machinery	3,500	Capital Account	10,000
   Debtors	2,700	Creditors	1,400
   Drawings	900	Sales	14,500
   Purchases	9,500
   Wages	5,000
   Bank	1,500
   Opening Stock	2,000
   Rent	450
   Sundry expenses	200
   Carriage Inwards	150

   
   Closing stock was Rs. 600.

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