Tuesday, May 10, 2016
Total No. of Questions : 071
BBA (Sem. – 2nd )
SUBJECT CODE : BB - 201
Paper ID: [C02071]
Time : 03 Hours
INSTRUCTION TO CANDIDATES :
1. SECTION-A is COMPULSORY consisting of TEN questions carrying
TWO marks each.
2. SECTION-B contains SIX questions carrying TEN marks each and students has to attempt any FOUR questions.
l. Write briefly :
(a) Accounting Process
(d) Error of omission
(e) Marshalling of Assets
(f) Cost of goods sold
(g) Trade Discount
(h) Contingent Liabilities
(i) Fixed Assets
(j) Suspense Account
2. “Accountancy is the language of Business but it fails to depict the
true value of business”. Critically explain in the light of the limitations of
3. A book keeper prepared a rough Trial Balance by him and it did not match.
Therefore, he searched for the errors and discovered the following errors. You are
required to pass necessary rectified journal entries.
(a) Sundry items of plant sold for Rs.500 had been entered in the Sales
(b) Rs.100 discount account but not posted to discount account
(c) Goods worth Rs.200 returned by Gawaskar were recorded in Sales
(d) Goods purchased from a merchant for Rs.545 had been posted to the
credit of his account as Rs.454
(e) An item of Rs.100 entered in the sales returns account had been
posted to the debit of the customer who returned the goods.
(f) An entry of Rs.145 representing the selling price of goods returned to
Shanker had been made in the purchase returns account. The amount
should have been Rs.130
(g) Goods worth Rs.250 taken by the proprietor had been omitted to be
recorded in the books
(h) Amount of Rs.420 received from Desai, which was written off as bad
debts last year has been credited to his account
(i) On scrutinizing the accounts of a defaulting cashier, it was discovered that he had received Rs.2000 from customer and Rs.1000 from cash csales and had paid Rs.480 to a creditor (after deducting Rs.20 for disco unt) bu t n one of the se tran sac tion s were rec ord ed
in the books of accounts.
4. Prepare Bank Reconciliation Statement as on March 31, 2012 of Mr. Akram from the following particulars :
a) Bank overdraft as per cash book Rs.3500.
b) Cheques issued but not encashed during the year Rs.2200.
c) Cheques deposited as per bank statement not entered in the cash book Rs. 950
d) Interest charged by the bank recorded twice in the cash book Rs.450
e) Club does on Mr. Akram dishonored Rs. 1200
f) What do you mean by depreciation, depletion, amortization and depreciable assets? Discuss the main causes of depreciation.
6. following is the Trail Balance of M/S Ramesh & Sons as on March 31, 2012. You are required to prepare the Treading and Profit and Loss Account an d Balance Sheet after giving effext to the adjustments:
Particulars Debit(Rs.) Credit(Rs.)
Sundry Creditors 63000
Sundry Debtors 1450000
Capital account 710000
General expenses 30000
Freehold land 100000
Opening stock 57600
Carriage inward 20400
Carriage outward 32000
Fuel and power 47300
Returns outwards 5000
Returns inwards 6800
Cash at bank 26300
Cash in hand 5400
The following adjustments are to a be made:
a) Inventory at the end of the year stands at Rs.68000;
b) A provision for bad and doubtful debts is to be created to the extent of 5% on S. Debtors;
c) Depreciate Machinery by 10% and parents by 20%
d) Salaries amounting to Rs.15000 for the March,2012 was unpaid;
e) Insurance includes a premium of Rs .1700 on a policy expiring on September 30,2012,
7. What do you mean by Generally accepted Accounting Principles (GAAPs)?Discuss the basic accounting concepts an conventions
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