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Total No. of Pages : 03
Total No. of Questions : 09
BBA (2013 to 2017)/BRDM/B.SIM (2014 & Onwards)
(Sem.-1)
FINANCIAL ACCOUNTING
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Subject Code: BBA-103
M.Code: 10540
Time: 3 Hrs.
Max. Marks : 60
INSTRUCTIONS TO CANDIDATES :
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- 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.
SECTION-A
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- Answer briefly :
- Liabilities.
- Revenue.
- Money measurement concept
- Total Method.
- Revenue expenditure.
- Fictitious assets.
- Implied adjustments.
- Nonprofit organisation.
- Receipt and payment account.
- Honorarium.
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SECTION-B
UNIT-I
- Explain briefly various branches of account.
- Differentiate between concept convention and principles.
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UNIT-II
- How would you rectify errors in accounting?
- The total of the debit side of the trial balance of a large boot and shoes Repairing company as at 31st December, 2009 is Rs.1,66,590 and that of the credit side is Rs.42,470. After several checking and rechecking's the following mistakes are discovered :-
| Name of account | Correct figure (as it should be) | Figure as it appears in the trial balance |
|---|---|---|
| Opening stock | 14900 | 14800 |
| Repairs | 61780 | 617800 (but appear on the debit side) |
| Rent and Rates | 2160 | 2400 |
| Sundry creditors | 6070 | 5900 |
| Sundry debtors | 8060 | 8310 |
Ascertain the correct total of the trial balance.
UNIT- III
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- What is capital? Explain different types of capital in detail.
- On 31st Dec. 2012 the following trial balance was extracted from the books of Mr. A
| Particulars | Amount (Rs.) Dr. | Particulars | Amount (Rs.) Cr. |
|---|---|---|---|
| Sundry debtors | 50,600 | Sundry creditors | 10,000 |
| Bills receivables | 5,000 | Capital | 70,000 |
| Plant & Machinery | 75,000 | Bad debts provision | 350 |
| Purchases | 90,000 | Bills payables | 5,000 |
| Freehold premises | 50,000 | Reserves | 20,000 |
| Salaries | 11,000 | Sales | 2,31,700 |
| Wages | 14,400 | ||
| Postage & Stationary | 750 | ||
| Carriage inward | 750 | ||
| Carriage outwards | 1,000 | ||
| Bad debts | 950 | ||
| General changes | 1,500 | ||
| Bank | 5,300 | ||
| Cash | 800 | ||
| Opening stock | 30,000 | ||
| Total | 3,37,500 | Total | 3,37,500 |
Prepare Trading and Profit & Loss account for the year ended 31st December, 2012 and a balance Sheet as on that date after considering following adjustments :
- Provide for Mr. A's salary @ Rs.9,000 per annum.
- Allow 5% interest on capital.
- Adjust bad debts provision @ 2.5% on sundry debtors.
- Closing stock was valued at Rs.31,000.
- Depreciation on Plant & Machinery @ 20% and freehold premises @ 10%.
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UNIT-IV
- Explain briefly the procedure of preparing income and expenditure account with example.
- Find out the expenses to be charged to income and expenditure account for the year ended 31-3-07:
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| Actual expenses paid | 80000 |
| Expenses outstanding opening | 2000 |
| Expenses due closing | 1000 |
| Prepaid expenses opening | 4000 |
| Prepaid expenses closing | 6000 |
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 1st Semester Last 10 Years 2011-2021 Previous Question Papers