Download OU BBA 2019 Dec 3rd Sem 12751 Financial Accounting Question Paper

Download OU (Osmania-University) BBA (Bachelor of Business Administration) 2019 Dec 3rd Sem 12751 Financial Accounting Previous Question Papers

Code No. 12751
FACULTY OF MANAGEMENT
BBA Ill - Semester (CBCS) Examination, November] December 2019
Subject: Financial Accounting
Course No. BB - 304
Time: 3 Hours Max. Marks: 80
PART ? A (5x4 = 20 Marks)
[Short Answer Type]
1 Answer any ?ve of the following in not exceeding 20 lines.
a)
b)
C)
d)
e)
f)
9)
h)
Full Disclosure Concept
GAAP
Rules of Personal Accounts
Ledger balancing
Provision of Taxation
Financial Statements Analysis
Solvency Ratios
lnd-AS.
PART - B (5x12 = 60 Marks)
[Essay Answer Type]
Note: Answer all the questions using the internal choice.
a) State the various users of Accounting Information.
OR
Explain in detail about the Accounting Concepts.
a) What is Ledger? State different types of vouchers.
OR
From the following transactions, prepare journal for the month of January, 2019:
Commenced business with a capital of Rs. 5,00,000
Purchased machinery Rs. 1,00,000
Purchased goods worth Rs. 120,000 for cash
Sold goods for cash Rs. 75,000
Purchased goods from Mr. Surya Rs.20,000
Sold goods to Mr. Ramana Rs. 35,000
Paid for advertisements Rs.10,000
Paid for stationery Rs.5,000
Received cash from Ramana Rs. 32,500 on full settlement of his account
Paid for salaries Rs. 50,000
Received interest on Fixed Deposits Rs. 7,500

Code No. 12751
-2-
4 a) State the distinguished features of Pro?t and Loss Account.
0R
b) From the following trial balance, you are required to prepare Trading, Profit and
Loss Account for the year ended 31st December, 2918 and Balance Sheet as on that
date: .
Debit Credit
Particulars Particulars
(Rs.) (Rs.)
Investment in Shares .
1,18,000 Capital 3,00,000
of Reliance Co. Ltd.
Loan from SBI
Buildings 1,15,000 @ 12% interest p.a. 1,50,000
Furniture & Fittings 1,07,500 Sales 2,00,000
MotorVan 75,000 Commission received 7,500
Interest on Debentures 9,000 Sundry Creditors 10,000
Purchases 75,000 Capital Reserve 50,000
Opening Stock 25,000 Provision of Bad Debts 3,100
Staff Salaries 15,000 Bills Payable 20,000
Wages 2,000
Insurance 1,000
Sundry Debtors 78,100
Cash at Bank 70,000
Goodwill 50,000
l 7,40,600 ( ! 7,40,600
Additional Information:
i) The value of Closing Stock as on 31St December, 2018 amounted to Rs.
3,19,000
ii) Write off Rs. 1,000 as bad debts; and provide for doubtful debts @ 5%
iii) Outstanding wages Rs.500
iv) Depreciate: Building @ 2%; Furniture & Fittings @ 10%; and Motor Van @
10%.
5 a) Explain the signi?cance and various tools of Financial Statement Analysis.
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b) The following ?gures are available ofX Ltd. for the year ended 31 St March, 019:
Net Pro?t before interest and tax Rs. 2,75,000
Net Pro?t after tax Rs. 2,20,000
Net Pro?t after interest and tax Rs.
1,10,000 Preference Dividend Rs. 35,000
Capital employed Rs. 11,00,000
Total Assets Rs. 12,65,000
Equity Shareholders? Fund Rs.
7,50,000. You are required to calculate:
i) Return on Capital Employed
ii) Return on Total Assets and
iii) Return on Shareholders? Funds.
6 a) Describe the importance of accounting standards.
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b) Write the objectives of IFRS.
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