WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher
 WOMEN UNIVERSITY OF AZAD JAMMU AND KASHMIR, BAGH

DEPARTMENT OF BUSINESS ADMINISTRATION

Mid Examinations Fall 2010

Program : BBA-IV Session F2019-F2024

Course Code: ACC-3101 Passing Marks 50%
Title of Course Financial Accounting-I Semester 1 st

Name of Teacher Maria Babar Time allowed 1.5 hours

Total No. of students 14 Total Marks 30

Name Roll. No.

Q:1 On March 2017, Farhan Rahim, starts wholesaling business. Following transactions as
follows
1. He started business with capital of Rs. 15,000
2. Purchased Land worth Rs. 10,000

8. Bought goods from Bilal and Friends Rs. 1,000 and by cash from XYZ Co. Rs 2,000

13. Sold goods to Rehman & sons Rs. 1,500 and sale by cash Rs. 5,000

17. Ttaken away by owner of cash Rs. 50 and merchandising worth Rs. 30

21. Paid Bilal and Friends cash Rs. 975; discount received Rs. 25

28. Received cash from Rehman & Sons Rs. 1,450; allowed him discount of Rs. 50
30. Paid Salaries Expense Rs. 2,000.

Requirement: Enter the following transaction in books of Farhan Rahim, prepare ledger anf
draw out trial balance (20)

Q:2 What is GAAP. Explain its principles. (10)

(Its Better To Be Fail Than To Fall)

-------The End----
________________ _________________
Coordinator/Exam focal person Subject Teacher