BANGLADESH UNIVERSITY OF PROFESSIONALS Military Institute of Science and Technology B.Sc. in Computer Science and Engineering 7 > (Spring): Fob 2 ‘Subject: HUM 415, Financial and Managerial Accounting Total: 2.00 hours Full Marks: 120 Section A: 1.00 hour Section A: 60 INSTRUCTIONS: Use SEPARATE answer scripts for each section. Question - 1 and Question ~ 4 (Viva Voce) in Section A are compulsory Answer any OTHER ONE question from this section (From Q - 2 & Q- 3) Figures in the margin indicate full marks, Assume reasonable data if necessary. ‘Symbols used have their usual meanings. seange SECTION-A Question—1 (Compulsory) a. Explain in short, the rules of debit and credit, 4 b. Rafid Consulting Ltd. Started on October 1 2020. The following ‘transactions occurred during the month: June 1 Shareholders invested $1,00,000 in the business. June 2 Paid $7,000 salaries and wages to employees. June $ Purchased equipment on credit $50,000. June 8 Paid $25,000 cash for supplies. June 12 Performed $60,000 of services on account June 20 Declared and paid $10,000 cash dividends. June 25 Pad utility bill $3,000 June 31 Paid office rent $30,000 cash. Required: i. Show the effects on accounting equation Ji, Prepare income statement. iii, Prepare retained earnings statement ane Question ~2 ‘4. Explain the relation between accounting and CSE, 4 b. The following selected events and transactions of Ash-Shifa Hospital occurred during May 2020: May 1 Shareholders invested ash $150,000 in the business in exchange for ordinary share May 3 Paid parttime employees’ salaries May 5 Incurred advertising expenses Tk 5,000 cash, May 10 Hired « receptionist at a salary of $5,000 per month effective from June | Page 1 of 2 Scanned with CamScanner‘May 15 Received $40,000 in cash for admission fee. ‘May 20 Received an electricity bill $2,000, “May 25 Received $50,000 for services provided. ‘May 30 Declared and paid $15,000 cash dividends. af oe ‘Scanned with CamScanner