Punjab Technical University 2010-2nd Sem B.B.A Basic Accounting - Question Paper

Paper ID [B0110]

[Total No. of Pages : 03

Roll No...........................

Total No. of Questions : 13]

(Please fill this Paper ID in OMR Sheet)

BBA (BB - 204) (S05) (O) (Sem. - 2^nd) BASIC ACCOUNTING

Maximum Marks : 75

Instruction to Candidates:

1)    Section - A is Compulsory.

2)    Attempt any Nine questions from Section - B.

Section - A

(15*2 = 30)

a)    What is an Accounting Cycle?

b)    Define Accounting.

c)    Explain the Going-Concem Concept?

d)    What is Personal Account?

e)    What is Ledger?

1)    What is Petty Cash Book?

g)    What is Credit Note?

h)    What is comparative financial statement?

i)    What is Trading Account?

j)    What do you mean by liquidity Ratio?

k)    When does flow of funds take place?

l)    What is Contribution?

m)    What is marginal cost?

n)    What do you mean by cash flow from operating activities?

(9*5 = 45)

Q2) Define Double Entry System of book-keeping. Explain its principles.

Q3) Ledger is the principal book of account. Do you agree with this statement.

Q4) What is Trial Balance? Discuss the objects of preparing a Trial Balance.

Q5) What do you mean by Analysis and interpretation of financial statements? Discuss their utility.

Q6) Prepare Balance Sheet from the following balances as on 31st March 2008 in liquidity order.

Rs. Rs. Outstanding Salary 1,000 Sundry Debtors 14,000 Stock on April 1, 2007 26,000 Net Profit 8,400 Goodwill 15,000 Prepaid Salary 900 Capital 50,000 Drawings 1,800 Outstanding interest on loan 3,000 Bills Payable 7,000 Sundry Creditors 9,000 Loose Tools 32,000 Plant 8 Machinery 40,000 Cash 600 Furniture 8 Fixtures 4,500 Loan 30,000 Bills Receivable 3,400

QUA From the following information, calculate average collection period.

Rs.

Total Sales    1,00,000

Cash Sales (included in Total sales) 20,000 Sales Return    7,000

Total Debtors at the end of year    11,000

Bills Receivable    4,000

Bad Debts Provision    1,000

Creditors    10,000

Q8) What is a fund flow statement? Discuss its significance.

Q9A Differentiate between Funds Flow and Cash Flow Analysis. QIO) What is Marginal Costing? Explain its managerial uses.

QII) What do you mean by Break-even Analysis? What are the uses and assumptions of such analysis?

Q12) Sales and Profit during two periods for a company were as follows :

Sales    Profit

Rs.    Rs.

Period I 9,00,000    90,000

Period II 11,00,000    1,30,000

Find out :

(a)    P/V Ratio

(b)    Break-even point.

Q13) Journalise the following transactions :

(a)    Amount due from Sadhu Ram Rs. 4,000 is irrecoverable as he is declared insolvent.

(b)    Paid Rs. 980 to Darshan Singh in full settlement against amount due to him Rs. 1,000.

(c)    Charanjit remitted Rs. 1,400 against the amount already written off as bad debt.

(d)    With drew goods from business costing Rs. 500.

(e)    Sold goods to Ram Lal list price Rs. 6,000 for cash at trade discount of 10% and cash discount 5%.

A-18    Q

Attachment: punjab-technical-university-2010-b-b-a-23057-1.pdf

Earning:   Approval pending.