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    Bba A&m 21

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    Kundan Jha
    The document contains details of the BBA 1st semester examination from 2019 including the paper code and full marks. It provides 10 questions under two groups - Group A contains 4 questions worth 5 marks each and Group B contains 2 questions worth 10 marks each. The questions cover topics like accounting principles, entity concept, preparation of machinery account and provision for depreciation account, drafting a statement of profit and loss, and identification and rectification of errors in trial balance.

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    Bba A&m 21

    Uploaded by

    Kundan Jha
    11 views2 pages
    The document contains details of the BBA 1st semester examination from 2019 including the paper code and full marks. It provides 10 questions under two groups - Group A contains 4 questions worth 5 marks each and Group B contains 2 questions worth 10 marks each. The questions cover topics like accounting principles, entity concept, preparation of machinery account and provision for depreciation account, drafting a statement of profit and loss, and identification and rectification of errors in trial balance.

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    BBA A&M 21

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    The document contains details of the BBA 1st semester examination from 2019 including the paper code and full marks. It provides 10 questions under two groups - Group A contains 4 questions worth 5 marks each and Group B contains 2 questions worth 10 marks each. The questions cover topics like accounting principles, entity concept, preparation of machinery account and provision for depreciation account, drafting a statement of profit and loss, and identification and rectification of errors in trial balance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    11 views2 pages

    Bba A&m 21

    Uploaded by

    Kundan Jha
    The document contains details of the BBA 1st semester examination from 2019 including the paper code and full marks. It provides 10 questions under two groups - Group A contains 4 questions worth 5 marks each and Group B contains 2 questions worth 10 marks each. The questions cover topics like accounting principles, entity concept, preparation of machinery account and provision for depreciation account, drafting a statement of profit and loss, and identification and rectification of errors in trial balance.

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    BBA-Sem I/BBA-1.

    3/19

    BBA 1st Semester (Honours) Examination, 2019


    Subject: ACCOUNTING FOR MANAGERS
    Paper: BBA-1.3

    Time: 2 Hours Full Marks: 40

    The figures in the margin indicate full marks.


    Candidates are required to give their answers in their own words
    as far as practicable.

    Group - A

    Answer any four questions. 5×4=20

    1. ‘Outstanding Expenses Account is a representative personal account’. Explain.


    2. Why Cash Book is called a ‘journalised ledger’?
    3. ‘Interest on Capital paid to partners appears in Profit & Loss Account’ – True/ False.
    Give brief reasoning.
    4. Explain why ‘Reserves’ and ‘Provisions’ are created in accounting?
    5. ‘Accounting principles, Accounting concepts and Accounting conventions are related
    to each other’. Comment on the given statement and explain the relationship.
    6. What do you mean by Entity Concept? Discuss its implications.

    Group -B

    Answer any two questions. 10×2=20

    7. M/s S. K. Brothers purchased a machine for Rs. 1,00,000 on 1.1.2017. They incurred
    Rs. 5,000 as freight and carriage and Rs. 5,000 as installation charges. The machine was
    sold for Rs. 40,000 on 31.12.2019.
    Prepare Machinery Account and Provision for Depreciation Account for the last three
    years assuming that books are closed on December 31 every year. The applicable rate
    of depreciation is 10% p.a. and is calculated under Diminishing Balance method.

    Please Turn Over


    (2) BBA-Sem I/BBA-1.3/19

    8. Sumosun Ltd., an electronic equipment manufacturing concern has issued 1,00,000


    shares of `10 each. The details of the company’s incomes and expenses for the year
    2018-19 are as follows:
    [Figures in Rs.]
    Revenue from sale of goods 8,75,000 Depreciation on machineries and equipments 12,000
    Revenue from services 4,25,000 Amortisation of software licenses 8,000
    Bad debt recovery 9,000 Interest on debentures 10,000
    Rental income 1,20,000 Other finance charges 800
    Interest on term deposits 46,000 Advertisement 7,200
    Production expenses 85,600 Purchases of stock-in-trade 4,58,000
    Wages 48,600 Rent and Rates 6,400
    Carriage inwards 2,600 Salaries 39,600
    Discount allowed 1,600 Discount received 2,200
    Bad debts 14,850 Changes in inventories[Opening Less Closing ] (28,000)
    Staff welfare expenses 13,800 Current tax on income 1,11,735
    Travelling expenses 7,500 Cost of raw-materials consumed 3,58,000

    You are required to draft the Statement of Profit and Loss for the company for the year
    ended March 31, 2019.

    9. The Trial balance of Ms. Chinmayee, a trader did not agree and the difference was put
    through Suspense Account. On subsequent search the following errors were detected:
    (i) A purchase of Rs. 7,000 from Mr. Bijoy was entered correctly in the Purchase Book,
    but posted to the credit of Mr. Dinesh as Rs. 5,000.
    (ii) A sale of Rs. 6,000 was made to Mr. Xavier and entered correctly in the sales book, but
    posted to the credit of Mr. Xavier.
    (iii) Goods bought on credit from Mr. Yusuf for Rs. 48,000 were wrongly debited to his
    account as Rs. 84,000.
    (iv) Salaries paid Rs. 5,460 posted in Salaries Account as Rs. 4,560.

    10. (a) ‘Adjustment entries and Rectification entries are conceptually the same’. Comment.
    (b) Explain the necessity of adjustment entries in accounting. Give two examples for
    this purpose.

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