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Tuesday, May 10, 2016

Roll No.
Total No. of Questions: 07
BBA (Sem.-2nd)
Subject Code: BB-201
Paper ID: [C0207]

Time: 3 Hrs. Max. Marks: 60

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 have to
attempt any four question.

Q1. Answer briefly:
a)Explain various objectives of Trail Balance.
b)Discuss the need of  Bank Reconciliation statement?
c)What is Suspense Account?
d)What are various methods of Description?
e)Give the difference between Gross Profit and Net Profit.
f)State four limitations of Accounting?
g)Explain cash basis of Accounting?
h)Explain Convention of Conservatism?
i)Explain various rules of Double Entry System?
j)Distinguish between Income and Expenditure.


Q2. Define the term “Account Concepts”. Discuss the various accounting concepts.

Q3. “Is the agreement of Trial Balance a conclusive proof of the accuracy of a book-keeper”? If not, what are the errors, which remain undetected by the Trial Balance?

Q4. What is a Bank Reconciliation Statement? What are the reason for difference in Cash Book and Pass Book Balance?

Q5. Give Journal Entries for the following:-

(a)Goods worth Rs. 500 given as charity.

(b)Received Rs. 975 from Harikrishan in ful settlement of  his account for Rs.    1,000.

(c)Received a first and final dividend of 60 paise in the rupee from the official receiver of Mr. Rajan who owed us Rs. 1000.

(d)Sold a sohan goods worth Rs. 20,000 less 2% cash discount and received Rs.
19,600 net on account by Cheque.

(e)Bought from Ram & Co. goods wort Rs. 1,00,000 at 10% trade discount and 2% cash discount terms and paid them half the amount in cash.

(f)Paid Rs. 1000 in cash as wages on installation of machinery.

(g)Supplied goods costing Rs. 10,000 to Sohan invoiced at 30% above cost less 5%
trade discount.

(h)Goods worth Rs. 5000 were used by the proprietor for his personal use.

(i)Goods uninsured worth Rs. 10,000 were destroyed by fire.

Q6. On 1 Jan. 2003, X Ltd., purchased a second-hand machine for Rs.52000 and spend Rs.2000 as shipping and forwarding charges, Rs.5000 as import duty, Rs. 500 as carriage inwards, Rs. 1500 as repair charges,  Rs,  500 as installation charges, Rs. 400 as brokerage of the middleman and Rs. 100 for an iron pad. It was estimated that the machine will have a scrap value of Rs. 2000 at the end of  its useful life which is 20 years. On 30st  sept. 2003 repairs and renewals amounted to Rs.  2000. On 1 July 2005, this machine was sold for Rs.30,600. Prepare the machinery Account for the first three years.

Q7. The following is the Trial Balance of M/s Kasturi Agencies as on 31 March, 2014.Prepare Trading and profit & loss account for the year ended 31stMarch 2014 and a balance sheet on that date:-   
                                                                                         Dr.                               Cr.
Capital                                                                                                            1,00,000
Drawings                                                                          18,000
Buildings                                                                          15,000
Furniture & Fittings                                                           7,500
Motor Van                                                                        25,000
Loan from Hari@ 12% interest                                                                       15,000
Interest on the above                                                         900
Sales                                                                                                               1,00,000
Purchases                                                                          75,000
Opening stock                                                                   25,000
Establishment Expenses                                                    15,000
Wages                                                                                 2,000
Insurance                                                                           1,000
Commission Received                                                                                        45,00
Sundry debtors                                                                  28,100
Bank Balance                                                                     20,000
Sundry Creditors                                                                                              10,000
Interestst                                                                                                              3,000
                                                                                         2,32,500            20,32,500
(a) The value of stock on 31 st
(b) Outstanding wages Rs.500
(c) Prepaid insurance Rs.300
March 2008 was Rs. 32,000.
 (d) Commission received in advance Rs.1,300
(e) Allow interest on capital @ 10%
(f) Depreciate: Building 2.5%, Furniture & Fittings 10% Motor van 10%
(g) Charge interest on drawings Rs. 500
(h) Accrued interest Rs.500



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