Download Question Paper of "Finaicial Accounting", Question Paper of BBA 2nd Semester, Subject Code : BB - 201, Paper ID C02071 Paper 2

Roll No. .,...............,....

Total No. of Questions : 071

BBA (Sem. - 2nd)

FTNANCIAL ACCOUNTING

SUBJECT CODE : BB _ 201

Paper ID : [C02071]

Time : 03 Hours

Maximum Marks :

Instruction to Candidates:

1) Section - A is Compulsory.

2) Attempt any Four questions from Section _ B.

Section - A

Q1)

a) Ledger.

b) Bookkeeping vs. Accounting.

c) Current assets.

d) Net worth.

e) Marshaling.

0 Realization concept.

g) Going concern concept.

h) Bank reconciliation statement.

D Errors of omission.

j) Depreciation.

Section - B

Q2)  Discuss in detail nature, scope and limitations of financial accounting"

Q3)

(a) What is the need to journalize the business transactions?

(b) Explain the classification of different types of accounts.

Q4) What are the different types of errors that creep into while preparing trial

        balance?

Q5) Prepare Trading and profit and loss account of NOS Konark Enterprises for

       the year ended 31't March2007 from the below mentioned information.

Debit Balance	Rs.	Rs. Credit Balance	Rs.
Equipment	10000	Accumulated depreciation (furniture)	1800
Furniture	12000	Accumulated depreciation (equipment)	1 500
Opening stock	29560	Creditors	2380
Office supplies	2180	Share capital	30000
Debtors	3400	Retained earnings	1710
Cash	2744	Sales	88950
Prepaid insurance	2400	Purchase returns and allowance	970
Prepaid advertisement	1900	Purchase discounts	190
Sales returns and allowance	1300
Sales discount	750
Purchases	37910
Freight in	2950
Office salary	2400
Sales salary	8100
Delivery expenses	500
Telephone expenses	910
Store rent	3300
Office rent	2200
Dividend	3000
	127500		127500

  Q6)  Ramesh construction company purchased equipment for Rs. 20 lacs in

2001 . The equipment was expected to useful for seven years or 15000 hours,

with an estimated residual value of Rs. 2 lacs at the end of that time. The

equipment lugged 2000 hours in the first year, 1000 hours in second year

and 3000 hours in second year. Depreciation rate may be taken at l4%You

are required to compute the depreciation expense for the first year under

each of the following methods

(a) Written down value.

(b) Straight line method

Q7) Form the following information, prepare a Bank Reconciliation Statement as

      on 3l't March. 2008 for IWS New Steel Ltd :

(a) Bank overdraft as per cash book Rs. 25,000.

(b) Interest debited by the bank on 26e March but not no advice received

      Rs. 3,000.

{c) Cheques issued before 3 l " March but not presented to bank for payment

      Rs. 7,000.

(d) Transport subsidy received from government directly by the bank but

      not advised to the company Rs. 4,000.

(e) Draft 'Deposited in the bank but not credited iill 3l't March Rs. 1,500.

(f) Bills far collection credited by the bank till 3l't March but no advice received try    

     the company Rs. 9,000.

G) Amount wrongly debited to company by the bank for which no details

     are available Rs. 800.