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Solved BBA203

Solved BBA203

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Published by Arvind K
For Solved SMU Assignment and Project
Contact: +91- 9873669404
Email : mba8182@gmail.com
http://www.smuassignments.net/
For Solved SMU Assignment and Project
Contact: +91- 9873669404
Email : mba8182@gmail.com
http://www.smuassignments.net/

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Categories:Types, Brochures
Published by: Arvind K on Jan 27, 2014
Copyright:Attribution Non-commercial

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01/27/2014

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For Solved SMU Assignment and ProjectContact
: +91- 98739!"!
#mail
 : m$a818%&gmail'com
http://www.smuassignments.net/
ASSIGNMENTDRIVEFALL 2013
 
PROGRAMBBA
 
SEMESTER2
 
SUBJECT CODE &NAMEBBA203 & FINANCIAL ACCOUNTING
 
BK IDB1520
 
CREDIT4
 
MARKS60
 
Q.No
Cri!ri"
MarksTotal Marks
1
Accounting concept refers to the basic assumptions and rules and principles which work as the basis of recording of business transactions and preparing accounts. Explain any 5 concepts of accounting with example AExplanation of each concept with example carries! marks each" 5#!$ %& marks"%&%& !'ifferentiate between trade discount and cash discount.()*+ ),* -01(2 )+'(3'4)1(3 1( '6,'('73 3189* 4'3, E.!&%& April % April ;alance of cash in hand s.%5&&
st
<
th
April 8urchased goods for cash from = for s.>!&%5
th
April 9old goods for s. ?<& to @ for cash!&
th
April eceied commission s.5!!
nd
April 8aid Bommission s.55!<
th
April 8aid to eena on account s.C%5>&
th
April 8aid salary to the office clerk s.%&& and office rent s.& A'ifferences between trade discount and cashdiscount8reparation of cash book 55%& >4inal Accounts are prepared at the end of the accounting year with arious adDustments. Explainthe features and obDecties of final accounts AExplanation of obDecties of final accountsExplanation of features of final accounts>C%&
 
?
Prepare Trading and Profit and Loss Account and Balance Sheet from the followingparticularsas at31 March 2012.
st
Trial Balance
ParticularsDr.(Rs)Cr.(Rs)
 apital ! "rawings1#$0010#000 ash in hand1#%00& Ban' o(erdraft ) %*&2#000 Purchase and Sales12#0001%#000 +eturns1#0002#000 ,sta-lishments charges2#%00& Taes and /nsurance%00& Pro(ision for "ou-tful "e-ts&1#000 Bad"e-ts%00& Sundr"e-tors and reditors%#0001#%0 ommission&%00 /n(estments$#000& Stoc' on 1 April 20103#000& urniture00& Bills +ecei(a-le 4Bills paa-le3#0002#%00 ollected Sales Ta&1%0
Total35,00035,000
 
urther#ouare re5uiredtota'eintoconsiderationthefollowinginformation6a7Salar+s.100 and taes +s.$00areoutstanding-utinsurance +s.%0prepaid-7ommissionamountingto +s.100 has -eenrecei(edin ad(ance for wor'to -e donenetear.c7/nterestaccrued onin(estments+s.210d7Pro(isionfordou-tful"e-ts isto-emaintained at20*e7"epreciation on furnitureis to-echargedat10*p.a.f7Stoc'on31 March 2012 was (alued at+s.$#%00
st
g7Afire occurredon2% March 2012in thegodown and stoc'ofthe(alueof +s.1#000
th
was destroed./twas fullinsuredand theinsurancecompanadmittedtheclaiminfull.
ABalculation of Trading and 8/1 a/c8reparation of balance sheet55%& 5FG /)6.73 4'3,E 3,0*6 ' E'( @*+6+'-) - 53.HHIHHH as on >&th 2une !&&?. The bank statement as on that date also showed an oerdraft but the figure is different. The following arethe causes.%.BheJues deposited but not yet collected s.%I5&&!.BheJues issued but not yet presented for payment s.!I&&&
 
>.A cheJue of s.%I5&& deposited on %5th MayI !&&? was dishonoured on %Kth 2uneI !&&? butnot intimated by the bank till >&th 2uneI !&&??.;ank charges not recorded in the cash book s.%I&&&5.-nterest on oerdraft not intimated s.%I!&& A8reparation of ;ank reconciliation statement%&%&
Maur# 8eer and Pra'ash are partners sharing profit and losses in the ratio of 26161.TheirBalance Sheetwas as follows6
Balance Sheet of Mayur, Veer an Pra!ash as on Dece"#er 3$, %00&'ia#ilities"ountssets"ount
 reditors10#000ashin 9and:#000 Bills paa-le:#000Machiner13#000 Stoc'2#000 apitals6Maur$0#0008eer30#000Pra'ash20#000;0#000"e-tors/n(estmentBuilding2#0001%#00020#000
Total$,0,000Total$,0,000
 Pra'ash has epired on 01.01.200; and as a result the assets are re(alued andlia-ilities reassessedasfollows6i7reate aPro(isionfordou-tfulde-tonde-torsat+s.00.ii7Buildingand in(estmentare appreciated -10*.iii7 Machineris depreciatedat%*i(7 reditorswere o(erestimated -+s.%00.(7<oodwillofthefirm(alued at+s.2:#000T=9 ,">"?9 <@9 + P"C"8= DL>> ,9 "?8/99< + =L8 9E9@+F8 >+"? "+@? D=L=carries an interest of 10* p.a. Prepare necessar ledger accounts and show the-alance sheetofnewfirmafteradGustments.
A8reparation of ledger accounts8reparation of balance sheet55%& #ALAnswer 
N#!
Answer all Juestions. ,indly note that answers for %& marks Juestions should be approximately of ?&& words. Each Juestion is followed by ealuation scheme.

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