B.Com. LL.B. (Five Years) Sem 1 Financial Accounting 2022 Apr Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) What are accounting concepts ? Explain.
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2. Q1 OR What is double entry system of accounting ? What are its advantages and disadvantages.
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3. Q1 (b) Write a short note on : Branches of Accounting.
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4. Q1 OR Differences between Book-keeping and Accounting.
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UNIT - II

1. Q2 (a) Journalise the following transactions in the books of Vivek.
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2. Q2 OR Enter the following transactions in a three column cash book.
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3. Q2 (b) Enter the following transactions in the sales returns book.
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4. Q2 OR Following is the Trial balance as on 31-12-2021 prepared by an incompetent accountant.
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UNIT - III

1. Q3 (a) From the following Trial Balance of Roshan, prepare the Trading Profit and Loss A/c for the year ended 31st Dec. 2020 and the Balance Sheet as on that date after taking into account the adjustments given below :
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2. Q3 OR Following is the Trial Balance of Prakash as on 31st March 2019. Prepare a Trading and P&L A/c and Balance Sheet as on that date after making necessary adjustments.
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3. Q3 (b) What is Final Accounts ? What are the uses of final accounts of a firm ?
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4. Q3 OR How do you treat the following in Final Accounts ?
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UNIT - IV

1. Q4 (a) From the following information relating to Anand cricket club, prepare an Income and Expenditure Account for the year ending 31st March 2019 and a Balance Sheet as on that date.
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2. Q4 OR Distinguish between Receipts and Payments Account and Income and Expenditure Account.
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3. Q4 (b) How do you classify the following expenses into capital and revenue ?
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4. Q4 OR What is Non-trading concern ? What are the characteristics of Non-trading concern ?
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UNIT - V

1. Q5 (a) Explain the advantages and disadvantages of computerised Accounting.
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2. Q5 OR Explain the factors to be considered before the implementation of computerised accounting.
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3. Q5 (b) Write a short note on Tally.
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4. Q5 OR Write a short note on different Accounting softwares.
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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.