B.Com. LL.B. (Five Years) Sem 1 Financial Accounting 2013 Jun Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) What is Accounting ? Explain different Accounting Concepts.
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2. Q1 OR What do you mean by Double-entry system of Book-Keeping ? What are its advantages and disadvantages ?
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3. Q1 (b) Write a short note on : Difference between accounting concepts and conventions.
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4. Q1 OR Write a short note on : Accounting Standards.
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UNIT - II

1. Q2 (a) Journalize the following transactions :
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2. Q2 OR Enter the following transactions in a Three-Column Cash Book :
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3. Q2 (b) Write a short note on : Purchase book and sales book
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4. Q2 OR Write a short note on : Trial Balance.
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UNIT - III

1. Q3 (a) The following Trial Balance of Shri Shant as on 31st March, 1999. You are requested to prepare the Trading and Profit and Loss Account for the year ended 31st March, 1999 and Balance Sheet as on that date after making the necessary adjustments
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2. Q3 OR The following is the Trial Balance of Sham and Company as on 31-12-2010 :
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3. Q3 (b) Write a short note on : Trading and Profit and Loss Account.
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4. Q3 OR Write a short note on : Balance Sheet.
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UNIT - IV

1. Q4 (a) Q accepted an accommodation bill for Rs. 2,000 and returned it to P who discounted the same for Rs. 1,900 and remitted half the proceeds to Q, after deducting the proportionate discount. P failed to remit the remaining amount before the due date. So the bill was dishonoured by Q. P took up the same and drew a 2 months bill on Q for the amount due and interest Rs. 40. The new bill was duly met by Q on the due date (the rest of the question is cut off in the scan)
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2. Q4 OR Suresh owed money to Ramesh and hence accepted two bills each of Rs. 5,000 at 3 months duration drawn on him by the latter on 1st January, 1995. Ramesh discounted one of the bills with his bank for net proceeds of Rs. 4,800 and endorsed the other in favour of Mukesh to whom he owed a like sum, on the same date. Suresh, paid the bill held by Mukesh on the due date, but failed to meet the bill presented by the bank. The inclusive of charges to Ramesh on 10th April, 1995. Show the Journal entries in the books of Suresh and Ramesh.
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3. Q4 (b) Write short note on : Advantages of a Bill of Exchange.
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4. Q4 OR Write short note on : Characteristics of kinds of Bill of Exchange.
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UNIT - V

1. Q5 (a) From the following Receipts and Payments Account and the Opening Balance Sheet of Sanjeevini Hospital and the information given below. Prepare the Income and Expenditure Account for the year ending 31-12-2010 and the Balance Sheet as on that date.
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2. Q5 OR The Receipts and Payments Account of Naveen Football Club for the year ended 31st March, 1998, was as under :
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3. Q5 (b) Write a short note on : Donations.
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4. Q5 OR Write a short note on : Receipts and Payments Account.
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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.