B.B.A. LL.B. (Five Years) Sem 1 Financial Accounting 2012 Jun Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) Define accounting. Explain its concepts.
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2. Q1 OR What is "Double-entry system" of book-keeping ? What are its advantages and disadvantages ?
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3. Q1 (b) What is accounting ? State its functions.
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4. Q1 OR Group the following accounts in personal, real and nominal accounts.
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UNIT - II

1. Q2 (a) Journalise the following transactions in the books of cash stationery merchant :
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2. Q2 OR Enter the following transactions in purchases and sales day books 2010.
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3. Q2 (b) What is ledger posting ? Explain the procedure of posting.
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4. Q2 OR What is "Debit Note" ? Draft a speciman of "Debit Note".
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UNIT - III

1. Q3 (a) From the following trail balance of Mr. Ramesh, prepare his trading and profit and loss account for the year ended 31-12-2010 and balance sheet as on date.
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2. Q3 OR From the following trail balance of Rajan as at 31-12-2010, prepare his final accounts.
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3. Q3 (b) What is final accounts ? Explain its needs and significance.
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4. Q3 OR Show the format of trading account.
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UNIT - IV

1. Q4 (a) On 1-1-2010 X sells goods to Y worth ₹ 6,000 credit on and draws three bills on him an the same date. The first bill of ₹ 1,000 for 1 month, the second for ₹ 2,000 for 2 months and the third for ₹ 3,000 for 3 months. Y accepts the same and returns them to X. X retained the first bill until the due date. On 4-1-2010 the second bill is endorsed over to Z and the third bill (the rest of this sentence and the next line are cut off in the scan) that all the bills are met on their respective due dates.
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2. Q4 OR P draws a bill on Q for ₹ 1,000 and Q accepts the same and returns it to P who endorses it over to R. Then R endorses it to S who discounts the bill for ₹ 980 with his bankers. Before the due date Q approaches P and requests him, to cash ₹ 500 and to draw a new bill for ₹ 550 to renew the old bill. P agrees to these proposals and also to take up the first bill on the due date. Pass the journal entries in the books of P, Q, R and S.
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3. Q4 (b) Write a note on : i) Noting and protesting of bill ii) Retiring of bill.
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4. Q4 OR Define "Promissory Note". Lists its features.
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UNIT - V

1. Q5 (a) From the following receipts and payments account of Sanjeevini hospital newly commenced on 1-1-2010 and the adjustments given below, prepare the income and expenditure account for the year ending 31-12-2010 and the balance sheet as on date.
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2. Q5 OR From the following particulars of public library, prepare the income and expenditure statement for the year ending 31-03-2010 and balance sheet as at 1-4-2009 and also as at 31-03-2010.
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3. Q5 (b) How do you classify the following receipts into revenue and capital ?
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4. Q5 OR How do you treat the following ?
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Typed from the KSLU paper above. The paper is the original. Long reading passages are shortened here to their first and last lines and a summary.