Annamalai University 2007 B.B.A Financial and cost accounting - Question Paper

B.B.A. DEGREE EXAMINATION, 2007
( 2nd YEAR )
( PART - III )
( PAPER - V )
230. FINANCIAL AND COST
ACCOUNTING
( Including Lateral Entry )

Maximum : 100 Marks
part - A (10 × two = 20)
ans any TEN ques..
All ques. carry equal marks.
1. What do you mean by accounting ?
2. provide the meaning of ledger.
3. describe 'Double Entry System'.
4. What is the purpose of preparing profit and loss account ?
5. State any 4 items in the asset side of the Balance Sheet.
6. describe 'Depreciation'.
7. What is meant by provision ?
8. discuss 'Costing'.
9. What is operating costing ?
10. Write a note on Bin Card.
11. elaborate the 2 kinds of labour ?
12. discuss 'Fixed Over-head'.
part - B (4 × 10 = 40)
ans any 4 ques..
All ques. carry equal marks.
13. Classify 'Accounts' and discuss.
14. Enumerate the differences ranging from Receipts and Payments A/c and Income and ExpenditureA/c.
Normal working hours per day - 8
Normal rate per hour - Re. 0·50
Over - time rate : Upto nine hours in a day
at single rate and over nine hours in a day at
double rate (or) upto 48 hours in a week at
single rate and over 48 hours at double rate,
whichever is more beneficial to the workmen.
15. What is Time - Keeping ? State essentials of
good Time - Keeping system.
16. explain 'Primary Distribution of Over-head'.
17. A company purchased a 2nd - hand
plant for Rs. 30,000 and immediately
spent Rs. 5,000 on repairs. The plant was
put to use on January, 1985. After using it
for 6 years, it was sold for Rs. 15,000. You
are needed to prepare the plant a/c for
6 years providing depreciation at 10 % on
diminishing balance method. Accounts are
closed on 31st December.
18. From the subsequent particulars, prepare stores
ledger account under FIFO method and LIFO
method of pricing problems :
Dec. - 1. Opening balance 50 units at Rs. 30
per unit.
,, - 5. Issued 20 units.
,, - 7. Purchased 48 units at Rs. 40 per
unit.
2006
Dec. - 9. Issued 20 units.
,, - 19. Purchased 36 units at Rs. 35 per
unit.
,, - 24. Received back 10 units out of the
units issued on ninth December.
,, - 27. Issued 15 units.
part - C (2 × 20 = 40)
ans any 2 ques..
All ques. carry equal marks.
19. elaborate Subsidiary Books ? discuss the
purpose of every 1 of them.
20. describe over-head. discuss the various
classification of over-head expenses.
21. The subsequent are the balances extracted from
the books of Shri. Raj as on 31st March,
2006. Prepare final accounts :2006

Adjustments :
(i) Stock on 31st March, 2006 was
Rs. 4,000.
(ii) Interest on capital at six % to be
provided.
(iii) Interest on drawings at five % to be given.
(iv) Wages yet to be paid Rs. 100.
(v) Rent pre-paid Rs. 50.
22. compute the normal and over-time wages
payable to a workman from the subsequent
data :
Days Hours worked
Monday 8
Tuesday 10
Wednesday 9
Thursday 11
Friday 9
Saturday 4

Trial Balance of Shri. Raj as
on 31st March, 2006
Drawings 4,000
Cash at Bank 1,700
Cash in hand 6,500
Wages 1,000
Purchases 2,000
Stock (1-4-2005) 6,000
Buildings 10,000
Sundry debtors 4,400
Bills receivable 2,900
Rent 450
Commission 250
General expenses 800
Furniture 500
40,500
Rs. Rs. Debit balances Credit balances
Capital 20,000
Sales 16,000
Sundry creditors 4,500
40,500
5

Earning:   Approval pending.