University Of Pune Question Paper
B. B. A. ( Semester - I ) Examination - 2013
BUSINESS ACCOUNTING
(New 2008 Pattern)
Time : 3 Hours] [Max. Marks : 80
Instructions :
(1) All questions are compulsory.
(2) Figures to the right indicate full marks.
(3) Use of calculator is allowed.
Q.1) (A) Answer in brief : (Any Five) [10]
(a) Give the rule of Journalise the Transaction of Real Account.
(b) What is Narration ?
(c) What is Double Entry ?
(d) What is Trade Discount ?
(e) What is ‘Transaction’ ?
(f) What do you mean by Contra Entry ?
(g) What do you mean by Creditor ?
(B) State with reason whether the following statements are true or
false : (Any Five) [10]
(a) Patents and Copyright Account is Personal Account.
(b) Goodwill is not Fictitious Asset.
(c) Accounting involves Communication.
(d) Cash Purchases are recorded in Purchase Book.
(e) Ledger is Subsidiary Book
(f) Closing Stock is always valued at Market Price.
(g) Bank Overdraft has always Debit Balance.
[4372]-103 1 P.T.O.
Seat
No.
Q.2) Journalise the following transactions in the books of Ranjit Traders
for the month of March, 2012 : [16]
March, 2012
1 Started business with Cash Rs. 40,000 and Furniture Rs. 10,000.
7 Purchased goods from Ajay Traders Rs. 10,000 at 10% Trade
Discount for Cash.
10 Borrowed Rs. 20,000 from Vidya Bank.
16 Purchased machinery from Sunil Traders for Rs. 11,000 on credit
and paid installation charges Rs. 500 in cash.
20 Purchased a watch dog from Nitin for Rs. 2,800 in cash to guard
the business premises.
22 Goods worth Rs. 700 were distributed as free samples.
24 House Rent of Rs. 1,500 paid to Raghu by cheque.
31 Sold goods for cash to Manik worth Rs. 3,000 at 10% Cash
Discount and 20% Trade Discount.
OR
Q.2) Enter the following transactions in a Cash Book with three columns
viz Cash, Bank and Discount for the month of March, 2012 : [16]
March, 2012
1 Cash in hand Rs. 400 and Bank Overdraft Rs. 600.
2 Brought additional capital in cash Rs. 20,000.
3 Deposited into Bank Rs. 10,000.
5 Goods sold for cash Rs. 20,000 and allowed Cash Discount of
Rs. 200.
7 Commission paid to agent Rs. 1,000.
9 Cash Sales of Goods Rs. 2,000.
10 Goods sold to Radha on Credit Rs. 30,000.
14 Purchased goods from Sarika for Rs. 30,000 less 2% discount
and paid the amount by cheque.
17 Transferred Rs. 10,000 from Private Bank A/c. to Business Bank
A/c.
19 Received cheque from Radha Rs. 29,400 and allowed her
discount of Rs. 600.
[4372]-103 2 Contd.
21 Goods insured against fire for Rs. 1,00,000 and paid Insurance
Premium at 4% by cheque.
23 Purchased 5% Govt. Bonds of Rs. 2,000 at 95% and paid amount
by cheque.
25 Paid Rent Rs. 1,000 by cheque.
27 Furniture purchased on credit from Ganesh Traders Rs. 14,000.
29 Goods sold for cash Rs. 40,000 and allowed cash discount at
1%.
30 Paid Salary Rs. 4,000 by cheque.
Q.3) From the following Trial Balance of Ganesh Traders prepare Trading
and Profit and Loss A/c. for the year ended 31-3-2012 and the Balance
Sheet as on that date : [16]
Debit Balance Rs. Credit Balance Rs.
Purchases 1,96,000 Sales 4,24,000
Wages 42,000 Capital 2,20,000
Stock on 1-4-2011 50,000 Creditors 70,000
Printing 34,000 Returns 4,600
Insurance paid 4,400 Loan 36,000
(upto 30-9-2012)
Salaries 64,000 Rent Received 6,400
Carriage Inward 20,000
Stationery 28,000
Advertising 24,000
Building 70,000
Machinery 1,20,000
Debtors 60,000
Returns 4,000
Cash in Hand 4,600
Patents 40,000
7,61,000 7,61,000
[4372]-103 3 P.T.O.
Adjustments :
(1) Closing Stocks valued at Rs. 52,000.
(2) Outstanding Expenses are : Wages Rs. 3,600, Salaries Rs. 7,600,
Printing Bill Rs. 2,400.
(3) Depreciate Machinery at 10% p.a. Patents are to be revalued
on 31-3-2012 at Rs. 36,400.
Q.4) (A) Pentacol Co. purchased a machinery on 1st April, 2008 for
Rs. 8,40,000 and Rs. 60,000 on installation of the machinery
immediately. Life of the machine is estimated as four years and
at the end of which its scrap value is expected to be Rs. 1,00,000.
The company has decided to depreciate the machinery under
Straight Line Method. The company closes its books of accounts
on 31st March every year.
Show Machinery A/c. for the four years. [08]
(B) Mr. Ganpat Patil’s Cash Book showed a balance of Rs. 7,600
on 31-3-2012. From the following discrepancies prepare Bank
Reconciliation Statement and find out the balance as per Pass
Book on 31-3-2012 : [08]
(1) Interest on fixed deposit Rs. 600 was credited by bank
on 27-3-2012. The bank advice was received on 8-4-2012.
(2) Cash Withdrawal of Rs. 1,500 on 30-3-2012 was not
recorded in Pass Book.
(3) Out of 3 cheques amounting in all to Rs. 12,000 deposited
on 28-3-2012. The bank had given credit for only two
cheques amounting in all to Rs. 5,800 by 31st March, 2012.
(4) Bank had debited the pass book for dishonour of bill for
Rs. 720 on 19-3-2012 for which there was no entry in
the cash book.
(5) A cheque of Rs. 2,600 issued to Dettarao on 17-3-2012
was presented in the bank on 3-4-2012.
[4372]-103 4 Contd.
Q.5) Write short notes : (Any Two) [12]
(a) Accounting Software Packages
(b) Written Down Value Method of Depreciation
(c) Generating Accounting Reports
(d) Money Measurement Concept
OR
Q.5) Explain in brief the important provisions of Companies Act, 1956 in
respect of final accounts of Limited Co.
B. B. A. ( Semester - I ) Examination - 2013
BUSINESS ACCOUNTING
(New 2008 Pattern)
Time : 3 Hours] [Max. Marks : 80
Instructions :
(1) All questions are compulsory.
(2) Figures to the right indicate full marks.
(3) Use of calculator is allowed.
Q.1) (A) Answer in brief : (Any Five) [10]
(a) Give the rule of Journalise the Transaction of Real Account.
(b) What is Narration ?
(c) What is Double Entry ?
(d) What is Trade Discount ?
(e) What is ‘Transaction’ ?
(f) What do you mean by Contra Entry ?
(g) What do you mean by Creditor ?
(B) State with reason whether the following statements are true or
false : (Any Five) [10]
(a) Patents and Copyright Account is Personal Account.
(b) Goodwill is not Fictitious Asset.
(c) Accounting involves Communication.
(d) Cash Purchases are recorded in Purchase Book.
(e) Ledger is Subsidiary Book
(f) Closing Stock is always valued at Market Price.
(g) Bank Overdraft has always Debit Balance.
[4372]-103 1 P.T.O.
Seat
No.
Q.2) Journalise the following transactions in the books of Ranjit Traders
for the month of March, 2012 : [16]
March, 2012
1 Started business with Cash Rs. 40,000 and Furniture Rs. 10,000.
7 Purchased goods from Ajay Traders Rs. 10,000 at 10% Trade
Discount for Cash.
10 Borrowed Rs. 20,000 from Vidya Bank.
16 Purchased machinery from Sunil Traders for Rs. 11,000 on credit
and paid installation charges Rs. 500 in cash.
20 Purchased a watch dog from Nitin for Rs. 2,800 in cash to guard
the business premises.
22 Goods worth Rs. 700 were distributed as free samples.
24 House Rent of Rs. 1,500 paid to Raghu by cheque.
31 Sold goods for cash to Manik worth Rs. 3,000 at 10% Cash
Discount and 20% Trade Discount.
OR
Q.2) Enter the following transactions in a Cash Book with three columns
viz Cash, Bank and Discount for the month of March, 2012 : [16]
March, 2012
1 Cash in hand Rs. 400 and Bank Overdraft Rs. 600.
2 Brought additional capital in cash Rs. 20,000.
3 Deposited into Bank Rs. 10,000.
5 Goods sold for cash Rs. 20,000 and allowed Cash Discount of
Rs. 200.
7 Commission paid to agent Rs. 1,000.
9 Cash Sales of Goods Rs. 2,000.
10 Goods sold to Radha on Credit Rs. 30,000.
14 Purchased goods from Sarika for Rs. 30,000 less 2% discount
and paid the amount by cheque.
17 Transferred Rs. 10,000 from Private Bank A/c. to Business Bank
A/c.
19 Received cheque from Radha Rs. 29,400 and allowed her
discount of Rs. 600.
[4372]-103 2 Contd.
21 Goods insured against fire for Rs. 1,00,000 and paid Insurance
Premium at 4% by cheque.
23 Purchased 5% Govt. Bonds of Rs. 2,000 at 95% and paid amount
by cheque.
25 Paid Rent Rs. 1,000 by cheque.
27 Furniture purchased on credit from Ganesh Traders Rs. 14,000.
29 Goods sold for cash Rs. 40,000 and allowed cash discount at
1%.
30 Paid Salary Rs. 4,000 by cheque.
Q.3) From the following Trial Balance of Ganesh Traders prepare Trading
and Profit and Loss A/c. for the year ended 31-3-2012 and the Balance
Sheet as on that date : [16]
Debit Balance Rs. Credit Balance Rs.
Purchases 1,96,000 Sales 4,24,000
Wages 42,000 Capital 2,20,000
Stock on 1-4-2011 50,000 Creditors 70,000
Printing 34,000 Returns 4,600
Insurance paid 4,400 Loan 36,000
(upto 30-9-2012)
Salaries 64,000 Rent Received 6,400
Carriage Inward 20,000
Stationery 28,000
Advertising 24,000
Building 70,000
Machinery 1,20,000
Debtors 60,000
Returns 4,000
Cash in Hand 4,600
Patents 40,000
7,61,000 7,61,000
[4372]-103 3 P.T.O.
Adjustments :
(1) Closing Stocks valued at Rs. 52,000.
(2) Outstanding Expenses are : Wages Rs. 3,600, Salaries Rs. 7,600,
Printing Bill Rs. 2,400.
(3) Depreciate Machinery at 10% p.a. Patents are to be revalued
on 31-3-2012 at Rs. 36,400.
Q.4) (A) Pentacol Co. purchased a machinery on 1st April, 2008 for
Rs. 8,40,000 and Rs. 60,000 on installation of the machinery
immediately. Life of the machine is estimated as four years and
at the end of which its scrap value is expected to be Rs. 1,00,000.
The company has decided to depreciate the machinery under
Straight Line Method. The company closes its books of accounts
on 31st March every year.
Show Machinery A/c. for the four years. [08]
(B) Mr. Ganpat Patil’s Cash Book showed a balance of Rs. 7,600
on 31-3-2012. From the following discrepancies prepare Bank
Reconciliation Statement and find out the balance as per Pass
Book on 31-3-2012 : [08]
(1) Interest on fixed deposit Rs. 600 was credited by bank
on 27-3-2012. The bank advice was received on 8-4-2012.
(2) Cash Withdrawal of Rs. 1,500 on 30-3-2012 was not
recorded in Pass Book.
(3) Out of 3 cheques amounting in all to Rs. 12,000 deposited
on 28-3-2012. The bank had given credit for only two
cheques amounting in all to Rs. 5,800 by 31st March, 2012.
(4) Bank had debited the pass book for dishonour of bill for
Rs. 720 on 19-3-2012 for which there was no entry in
the cash book.
(5) A cheque of Rs. 2,600 issued to Dettarao on 17-3-2012
was presented in the bank on 3-4-2012.
[4372]-103 4 Contd.
Q.5) Write short notes : (Any Two) [12]
(a) Accounting Software Packages
(b) Written Down Value Method of Depreciation
(c) Generating Accounting Reports
(d) Money Measurement Concept
OR
Q.5) Explain in brief the important provisions of Companies Act, 1956 in
respect of final accounts of Limited Co.
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