BBA Principles of Accounting Question Paper 2019
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Principles Of Accounting
Time : Three Hours] [Maximum Marks : 75
Section-A(BBA 2nd Sem. Question Paper 2019)
(Very Short Answer Questions)
Note : Attempt all five questions. Each question carries three marks. Very short answer is required not exceeding 75 words.
1. The Accounting Standards board was established in 1979.
2. The consignee passes no entry in his books for unsold stock of the consignor lying with him.
3. In the case of independent branches, the head office account in the books of the branch is analogous to capital account.
4. What is transferred in a sale under hire purchase system?
(a) Ownership (b) Possession
(b) Ownership and Possession (c) None of these
5. On dissolution of the firm, and the amount realised from unrecorded assests is credited to :
(a) Revaluation account (b) Realisation account
(b) Bank account (d) Partners’ capital account
Section-B (BBA 2nd Sem Question Paper)
(Short Answer Questions)
Note : Attempt any two questions out of the following three questions. Each question carries 7.5 marks. Short answer is required not exceeding 200 words. (7.5 x 2 = 15 )
6. Write a short notes on AS-3 Changes in Financial position.
7. What is short working? How does it arise? What are the rules of accounting in this connection?
8. What do you know about sacrificing ration and new profit sharing ration? Why calculations for these are made?
Section-C (BBA Principles of Accounting )
(Detailed Answer Questions)
Note: Attempt any three questions out of the following five questions. Each question carries 15 marks. The answer is required in detail. (7/2 x 2 = 45)
9. What is the concept of accounting standards? Explain any two standards.
10. Sohan and Mohan supplies goods to the value of Rs. 50,000 and incurs expenses amounting to Rs 5,400. Mohan supplies goods to the value of Rs. 14,000 and his expenses amount to Rs. 800. Mohan sales goods on behalf of the joint venture and realise Rs. 92,000. Mohan is entitled to a commission @ 5% on sales. Mohan settles his account by bank draft. Give journal entries and necessary accounts in the books of Sohan.
11. What do you mean by bank ? What are the accounting books maintained by the bank?
12. From the Following particulars, prepare departmental tradding account trading account of a business having three departments the rate of gross profit in each case is the same :
13. A retired on March 31, 2010 and B and C continued in partnership sharing profits and losses in the ratio Of B 2/3 and C 1/3. A’s loan was paid on April 1, 2010 and he was agreed the remaining balance due to him, other than that on his current account, should remain as his loan to the firm.
It was agreed that the following adjustments were to be made in the balance sheet as on March 31, 2010 :
(1) The freehold premises and plant and machinery were revalued at and 55,000 respectively.
(2) The provision for bad-debts was to be increased by 1,900.
(3) A provision of 2,700 included in creditors was no longer required,
(4) 3,000 was to be written off the stock in respect of damaged and obsolete items included there in.
(5) Provision of 1,000 was to be made for professional charges in connection with the revaluation.
(6) Goodwill of the firm was valued at? Goodwill account is not opened in the books, adjusting entry for goodwill between partners being made in their capital accounts.
You are required to prepare.
(a) Revaluation account
(b) A’s account showing the balance due to him.
(c) The balance sheet of B and C as on 1 st April 2010.