Roll No. ____________________ Total No. of Pages : 04
Total No. of Questions : 09
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BBA (2014 to 2017)/BRDM/B.SIM (2014 & Onwards)
(Sem.-1)
FINANCIAL ACCOUNTING
Subject Code : BBA-103
M.Code : 10540
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Time : 3 Hrs. Max. Marks : 60
INSTRUCTIONS TO CANDIDATES :
- SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks each.
- SECTION-B consists of FOUR Sub-sections : Units-I, II, III & IV.
- Each Sub-section contains TWO questions each, carrying TEN marks each.
- Student has to attempt any ONE question from each Sub-section.
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SECTION-A
-
Answer briefly :
- Objectives of book-keeping.
- Advantages of accounting.
- Contra entry.
- Journal.
- Capital expenditure.
- Objectives of trail balance.
- Suspense account.
- Non-profit organization.
- Pass book and cash book
- Bank reconciliation statement.
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SECTION-B
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UNIT-I
- What do you mean by accounting? What are the objectives of it?
- 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 4th December was dishonoured; Dec. 31 Cash in excess of Rs. 2,000 was paid into bank. Balance it.
UNIT-II
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- What do you mean by rectification of error? Describe the various methods of rectification of errors.
- 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
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Cheques sent in but not collected 130
In addition you are told that
- Debit side of the cash book (bank column) has been undercast by Rs. 250.
- Cheque issued for Rs. 100 to a creditor was strongly entered in the cash column.
- Bank cheque Rs. 40 do not appear in cash book.
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UNIT-III
- Discuss briefly the merits and limitations of straight line method and diminishing balance method?
- From the following trial balance of M/s Ram Co., Patna, Prepare a Trading and Profit and Loss A/c for the year ending 31st March 2011 and also Balance Sheet as on that date :
| Sr.No. | Particular | Dr. Amount | Cr.Amount |
|---|---|---|---|
| 1. | Capital A/c | Nil | 45000 |
| 2. | Drawings | 3250 | -- |
| 3. | Land and Buildings | 12750 | -- |
| 4. | Plant and Machinery | 7250 | -- |
| 5. | Furniture | 750 | -- |
| 6. | Carriage | 2125 | -- |
| 7. | Wages | 10750 | -- |
| 8. | Salaries | 2350 | -- |
| 9. | Bad debt, Provision (1.4.2010) | -- | 1250 |
| 10. | Sales | -- | 47500 |
| 11. | Return in ward | 900 | -- |
| 12. | Bank charges | 750 | -- |
| 13. | Taxes | 425 | -- |
| 14. | Discount | -- | 60 |
| 15. | Purchases | 20000 | -- |
| 16. | B/R | -- | 750 |
| 17. | Debtors | 18900 | -- |
| 18. | Creditors | -- | 6125 |
| 19. | Stock (1.4.2010) | 12500 | -- |
| 20. | Cash in hand | 7000 | -- |
| 21. | Bank Loan | -- | 515 |
| 100450 | 100450 |
UNIT-IV
- What is Receipts and Payment Accounts ? Why it is prepared?
- The following is the Receipts and payments account of the jolly makers club in respect of the year ending March 31, 2011
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| Receipt | Rs. | Payments | Rs. | |
|---|---|---|---|---|
| To Balance (1.4.10) | 2050 | By Salaries | 4160 | |
| To Subscription | By Rates and taxes | 1200 | ||
| 2009-10 | 80 | By Stationery | 800 | |
| 2010-11 | 4220 | By Telephone Expenses | 200 | |
| 2011-12 | 160 | 4460 | By Investment in Govt. Securities | 2500 |
| To Profit on sports meeting | 2850 | By Sundry Expenses | 1850 | |
| To Interest on Investment | 2000 | By Balance c/d (31-3-11) | 900 | |
| To Sundry Receipt | 250 | |||
| 11610 | 11610 |
The following additional facts are ascertained :
- Stock of stationary on April 1, 2010 was Rs. 100 and on march 31, 2011 Rs. 180.
- Rates & taxes were prepaid to the extent of Rs. 400.
- Telephone charges outstanding amounts to Rs. 75.
- In 2009-10 subscription received in advanced amounted to Rs. 200 for current year and Rs. 180 were due on March 31, 2011.
- 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.
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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 download link is referred from the post: PTU BBA 2020 March Previous Question Papers
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