B.Com. LL.B. (Five Years) Sem 1 Financial Accounting 2023 Sep Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) Define accounting standards. Discuss any four accounting standards.
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2. Q1 OR Discuss the advantages of accounting and limitations of accounting.
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3. Q1 (b) Write a short note on Functions of accounting.
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4. Q1 OR Write a short note on Conventions of accounting.
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UNIT - II

1. Q2 (a) Journalise the following transactions in the books of Ganesh.
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2. Q2 OR Prepare three column cash book from the following transactions :
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3. Q2 (b) Enter the following transactions in the purchases book of Manoj.
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4. Q2 OR The following is the trial balance prepared by an incompetent clerk. Redraft the trial balance as on 31st Dec. 2020.
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UNIT - III

1. Q3 (a) Charlie's trial balance appeared as follows on 31st December 2020.
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2. Q3 OR What is final accounts ? How do you treat the following adjustments in final accounts ?
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3. Q3 (b) Distinguish between Profit and Loss A/c and Balance Sheet.
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4. Q3 OR Write a Balance Sheet with imaginary numbers atleast 12 items.
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UNIT - IV

1. Q4 (a) The following is the Receipts and Payments Account of Mysore Literary Club for the year ended 31st Dec. 2020.
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2. Q4 OR Differentiate between Receipts and Payments Account and Income and Expenditure Account.
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3. Q4 (b) From the following ledger balances as on 31st Dec. 2019, find out the Opening Capital Fund :
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4. Q4 OR How do you treat the following items in the final accounts of non profit organization ?
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UNIT - V

1. Q5 (a) What is computerised accounting ? Explain its features.
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2. Q5 OR What are the factors considered while introducing computerised accounting into a business organisation.
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3. Q5 (b) Explain the advantages of computerised accounting.
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4. Q5 OR Write a short note on any two accounting software.
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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.