B.Com. LL.B. (Five Years) Sem 1 Financial Accounting 2014 Jun Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) What do you mean by accounting conventions ? Explain the various accounting conventions.
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2. Q1 OR What is book keeping ? Distinguish between book keeping and accounting.
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3. Q1 (b) Write a short note on : 1) Assets 2) Capital 3) Debtor.
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4. Q1 OR Draw the chart of Accounting cycle.
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UNIT - II

1. Q2 (a) Journalise the following transactions in the books of Kumar.
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2. Q2 OR Enter the following transactions in a Three-column cash book and balance the same.
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3. Q2 (b) Write a short note on : Trial Balance
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4. Q2 OR Write a short note on : Journal.
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UNIT - III

1. Q3 (a) From the following trial balance of Shri Vinayak prepare trading, Profit and Loss Account and Balance Sheet as on 31-12-2012 after taking into account the adjustments given below.
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2. Q3 OR From the following trial balance of Mr. Ramesh prepare his trading, Profit and Loss Account and Balance Sheet as on 31-12-2012 after effecting the adjustments given below :
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3. Q3 (b) What do you mean by adjustments ? Give the adjusting entries for interest on capital and interest on drawings.
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4. Q3 OR How do you treat the following in final accounts 1) Free samples 2) Doubtful debts 3) Goods used for personal use.
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UNIT - IV

1. Q4 (a) On 1-1-2012 Mahesh sold goods of Rs. 5,000 to Suresh and drew a bill for an amount payable after three months. Suresh accepted the bill and returned it to Mahesh. On 5-1-2012 Mahesh discounted the bill for Rs. 4,600. On the due date the bill was dishonoured and the noting charges incurred amounted to Rs. 100. Pass the journal entries in the books of both the parties.
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2. Q4 OR On 1-6-2012 Vinayak drew a bill on Prasanna for Rs. 6,000 for two months. The bill was duly accepted, before the due date Prasanna approached Vinayak and requested to receive cash of Rs. 2,000 and to drew a new bill for Rs. 4,200 (Rs. 200 being for interest) for a future period of three months in (the rest of the sentence is cut off in the scan) Pass the journal entries in the books of both the parties.
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3. Q4 (b) Write a short note on : Define bill of exchange and name the parties to it.
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4. Q4 OR Write a short note on : 1) Endorsement on a bill 2) Tenure of a bill 3) Dishonour of a bill.
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UNIT - V

1. Q5 (a) From the following particulars prepare the Income and Expenditure Account and Balance Sheet as on 31-12-12 of Young Men's Sports Club.
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2. Q5 OR Receipts and Payments Account for the year ended 31-12-12 of Mahila Sports Club is as.
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3. Q5 (b) What are legacies ? Distinguish between capital expenditure and revenue expenditure.
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4. Q5 OR Classify the following into Capital and Revenue :
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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.