B.B.A- 1st Sem Financial Accounting(Punjab Technical University, Jalandhar-2013)

                                                                      BBA (Semester - 1)

                                   FINANCIAL ACCOUNTING

Time Allowed: 3 hours                                Maximum Marks: 60

INSTRUCTION TO CANDIDATES:

1. SECTION - A is COMPULSORY consisting of TEN questions carrying TWO marks each.

2. SECTION - B consists of FOUR Subsections: Units-1, 2, 3, & 4.Each Subsection contains TWO questions each carrying TEN marks each and student has to attempt any ONE question from each Subsection.

                                        SECTION - A

UNIT -  1

1.  Write short notes on any TEN each carrying 2 marks.

(a) Voucher system

(b) Special purpose subsidiary books

(c) Matching of Cost and Revenue

(d) Error of Commission

(e) Revenue expenditure

(f) Closing entry

(g) Accounting treatment for Receipts for a sports fund of a club

(h) Non-Profit organizations

(i) Diminishing Balance Method

(j) How method of charging depreciation can be changed?

                                        SECTION - B

UNIT - 1

2. What are the accounting concepts and conventions? How the application of these can be seen in the financial statements?

3. What are the different categories in which accounting transactions can be classified? Explain the different rules of journalizing the transactions with appropriate illustrations.

UNIT - 2

4. What is a ^'Trial Balance^' ? What are the objectives of preparing trial balance?

5. State the considerations which will guide you in deciding whether any particular item should be regarded as a capital nature or of a revenue nature.

UNIT - 3

6. From the following trial balance of X Ltd., prepare the manufacturing account, trading and profit and loss account for the year ending 31.03.2011 and the balance sheet as on that date.

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