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SUBJECT CODE NO:- S-3553
FACULTY OF MANAGEMENT SCIENCES
B.B.A. F.Y.( Sem I )Examination March/April 2016
Accountancy – I
[Time: 2 Hours] [Max. Marks:30]

“Please check whether you have got the right question paper.”
N.B i) Question.No.1 is compulsory.
ii) Attempt any three questions from the remaining five.

Q.1 What is Accounting cycle ? Briefly explain the types of Accounts ? 6

Q.2 Journalize the following transactions in the Books of a trader. 8
Debit balance on Jan.1.2013.
Cash in hand Rs 5,000 cash at Bank Rs 20,000 , stock of goods Rs 25,000 furniture Rs 2500, Buildings Rs 18,000
Sundry debtors –Ravi Rs 2000, vijay Rs 1000, madhu Rs 2500.
Credit balances on Jan.1.2013
Sundry creditors: Anil Rs 8000, Anup Rs 6000, lone from Bank Rs 15000.
jan 1.2013 :- sold good for cash Rs 2000.
Jan 4. Purchased good from Nukesh Rs 5000.
Jan 5.purchase plant for Rs 20,000 and paid Rs 150 as cartage and another Rs 250 as installation
Jan 8. Paid to Anup Rs 5800 in full settlement
Jan 10.interest received from madhu Rs 250.
Q.3 On 1st July 2007, a company purchased a plant for Rs 20,000, depreciation was provided at 10% per annum on 8
straight line method. On 31st December every year. With effect from.1.1 .2009 the company decided to change
the method of depreciation to diminishing balance method at 15% p.a . on 1.7.2010, the plant was sold for Rs
12,000. Prepare plant Account from 2007 to 2010.
Q.4 From the following Trial balance you are required to prepare .trading account , profit &loss A/C Balances Sheet as 8
on 30.6.2005.
Trial Balance as on .30/6/05

Particular Debit(Rs) Credit(Rs)

Capital -- 15,000
Drawings 4800
Machinery 20,000
Furniture 1,500
Sundry debtors 20,000
Sundry creditors -- 13,000
Interest 1,250
Wages 10,000
Salaries 7500
Carriage in wards 500
Purchase returns -- 1,000
Sales returns 1,500
Loan Borrowed 20,000
Opening stock 7,500

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 Purchases 60,000
Sale -- 90,000
Office Rent 1,100
Insurance premium 240
Discount 1,000 500
General expense 1,200
Cash on hand 150
Bank Balance 1260

Total 1,39,500 1,39,500

Adjustments:-
a) Closing stock Rs 10,000
b) Rent outstanding Rs 100, salaries outstanding –Rs 900
c) Insurance premium prepaid Rs 40
d) Interest on loan due 250
e) Depreciate machinery by 10% and furniture by 6%.
Q.5 M/S A,B, and C with respective capitals of Rs 30,000, Rs 20,000 and Rs 10,000 are share profit in the ratio of 8
3:2:1, They agreed to admit Mr.D as a partners for 1/6th share on the term that he bring in Rs 20,000 as capital
and Rs 10,000 as premium for goodwill and that Mr. would retain his original share .
Mr.D paid in his capital money but in respect of premium he could bring in only in only Rs 5000 and therefore he
agreed to the raising a goodwill account in the books of the firm as would be appropriate in such circumstances .
You are required to .
1) Since the Journal entries to carry out the above arrangements
2) Construct capital Account of the partner
3) Work out the new profit sharing ratio of the partners.
Q.6 Write short note on:- 8
1) Fixed installment method deprecation
2) Accounting concepts.

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