B.C.A./BBA (Sem. EXAMINATION, 2018
102 FINANCIAL ACCOUNTING
(2013 PATTERN)
Time Three Hours Maximum Marks 80
N.B. All questions are compulsory.
(ii Figures to the right indicate full marks.
(iii Use of calculator is allowed.
1. What is Financial Accounting Explain the important functions of
Accounting.
Or
What do you mean by Accounting Principles Explain the important
characteristics of accounting principles.
2. Journalise the following transactions in the books of M/s Moumita
Aiyar, Pune for March, 2015
1. Purchased Goods for cash Rs. 11,500.
3. Paid electricity charges Rs. 150.
5. Received Rs. 600 from Chunchunwala as Commission.
6. Sold a scooter to Jhunjhunwala for Rs. 910.
7. Received Rs. 100 from Gungunwala.
11. Paid Transport charges Rs. 350 to Disha
13. Purchased machinery Rs. 7,200 from Madhubani Bros.
15. Deposited Rs. 1,200 in Bank of Maharashtra.
P.T.O.
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3. Enter the following transactions in the cash book of BolBol having
cash with cash and bank column for March, 2015
1. Cash in hand Rs. 400 and bank Rs. 1,000.
2. Sold Goods to Suresh for Rs. 600 and received Rs. 400 in
part payment.
5. Transferred Rs. 500 from private bank account to Business
Bank Account.
10. Issued a cheque of Rs. 200 to Bharat Bansode Furniturre Works
for the furniture purchased in the month of Feb. 2015.
12. Withdrew for personal use from Bank Rs. 100.
14. Issued a cheque to petty cashier for Rs. 175.
15. Withdrew for office use Rs. 500.
18. Suresh and Company informed that they paid directly into
our bank account, the remaining balance account Rs. 200.
19. Bank collected interest on investments and credited to our
account Rs. 200. Bank charged commission.
20. Issued Goods against Fire for Rs. 40,000 and paid insurance
premium by cheque.
21. For cash sales received a cheque from M/s Manik and Sons
for Rs. 500 and deposited into the bank account immediately.
23. Cheque received from M/s Manik and Sons was dishonoured.
25. Paid salary by cheque Rs. 300.
30. Purchased Govt. securities of Rs. 800 98%.
[5363]-102 3 P.T.O.
4. The following balances were extracted from the books of Sandhya
on 31st March 2015. You are required to prepare a Trading and
Profit and Loss Account and Balance Sheet on that date
Trial Balance as on 31st March, 2015
Particulars Debit Particulars Credit
Rs. Rs.
Salaries 16,965 Capital 80,000
Wages 34,965 S. Creditors 54,300
Manufacturing Exp. 10,455 Bank Overdraft 10,000
Carriage Inward 980 Purchase Return 1,000
Carriage Outward 2,150 Sales 2,56,850
Plant and Machinery 19,720 Provision for Bad debts 2,000
Furniture 9,480
Land 25,000
Goodwill 30,000
Insurance 4,175
Fuel and Power 1,276
S. Debtors 78,140
Factory Lighting 986
Opening Stock 34,170
Sales Return 3,170
Purchases 97,165
Discount 928
Interest 475
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Bad Debts 1,485
Cash 145
Bank 7,540
General Expenses 8,142
Motor Car 5,165
Selling Expenses 2,473
3,94,150 3,94,150
Adjustments
Stock on 31st March, 2014 was Rs. 29,630.
(ii Depreciation is to be charged on Plant and Machinery at
Land and Motor Car Rs. 1,000.
(iii Write off Rs. 140 as bad debts.
Provide discount on debtors and 10% on creditors.
Sales outstanding Rs. 235.
5. Write short notes on (any four)
Limitations of Computerised Accounting
(ii Company Final Accounts
(iii Accounting Packages
Accounting Standards
User of Accounting Information
Advantages of Accounting.