Financial Accounting Past Papers PDF
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These documents consist of past papers for a financial accounting course, including questions and problems from various semesters. These papers are useful for students preparing for their exams.
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## FACULTY OF LAW ### BB.A. L.L.B (5 YDC) I Semester Examination, November 2022 Subject: Law Paper-IV: Financial Accounting Time: 3 Hours Max. Marks: 00 ### PART-A (5 x 6 = 30 Marks) Note: Answer any five questions. 1. Objectives of Financial Accounting 2. Types of accounts 3. Petty cash book 4. T...
## FACULTY OF LAW ### BB.A. L.L.B (5 YDC) I Semester Examination, November 2022 Subject: Law Paper-IV: Financial Accounting Time: 3 Hours Max. Marks: 00 ### PART-A (5 x 6 = 30 Marks) Note: Answer any five questions. 1. Objectives of Financial Accounting 2. Types of accounts 3. Petty cash book 4. Types of Accounting errors 5. Suspense Account 6. Capital Profit and revenue profit 7. Depreciation 8. Straight Line Method ### PART-B (4 x 1250 Marks) Note: Answer any four questions. 9. What is the meaning of Accounting? What are its branches? Explain briefly the limitations of financial Accounting. 10. Briefly explain the meaning of ledger? Describe its need and importance. 11. State the meaning of trial Balance? What are the different columns of a trial Balance? Explain different methods of preparing trial balance. 12. Discuss various concepts and conventions of Accounting. 13. Explain various adjustments of final accounts and their accounting treatment. 14. What do you understand by the term 'Reserve'? What are the kinds of reserve and how it is different from provision? 15. On 1st January 2008 the Nagpur Golden Transport purchased a truck for Rs.4,00,000. On 1s July 2009, this truck was involved in an accident and was completely destroyed and Rs. 3,00,000 were received from the Insurance company in full statement. On the same day another truck was purchased by the company for Rs.5,00,000. The company writes off 20% for depreciation p.a on written Down valuo method. Accounts are closed on 31st March every year. Give the truck Account from 2008-2010. ## FACULTY OF LAW ### BB.A. LL.B. (5 YDC) | Year I Semester Examination, September / October 2021 Subject: Law Paper: IV Financial Accounting Time: 2 hours Max. Marks: 80 ### PART - A (4 x 10 = 40 Marks) **Note:** Answer any four questions 1. Explain the golden rules of accounting with examples. 2. Branches of accounting 3. Write briefly about accounting conventions 4. Distinguish among types of cash books 5. Accounting equation 6. Capital profit vs revenue profit 7. Types of provisions and reserves 8. What are causes for depreciation? Explain how it affects profitability and cash position. ### PART-B (2 x 20 = 40 Marks) **Note:** Answer any two questions 9. Is accounting an art or science? Explain. 10. Define financial accounting. Write about its scope and limitations. 11. Journalise the following transactions in the books of M/s Kapoor & Co. | Date | Particulars | Rs. | |---|---|---| | 2019 May | | | | 1 | Started company with | | | | -Cash at bank | 50,000 | | | -Cash in hand | 75,000 | | | -Debtors | 5,000 | | | | 3,000 | | 5 | Bought goods from Mr. Ramesh worth | 45,000 | | 8 | Sold good to Mr. Pawan for cash | 55,000 | | 9 | Paid rent in advance | 20,000 | | 14 | Paid wages Rs.8,000, and Rs.6,000 is outstanding | | | 25 | Paid commission | 2,000 | 12. What is subsidiary book and what are its types and importance? 13. Discuss bank reconciliation statement and techniques to prepare bank reconciliation statement. ## FACULTY OF LAW ### BB.A LL.B (5 YDC) I Semester Examinations, August 2023 Subject: Law Paper - IV: Financial Accounting Time: 3 hours Max. Marks: 80 ### PART - A (5 x 6 = 30 Marks) **Note:** Answer any five questions. 1. Write about the branches of Accounting. 2. What are the types of accounts? 3. Write about the three columnar cash book. 4. What is Bank Reconciliation statement? 5. What are General and Special reserves? 6. Why is the Trading Account prepared? 7. What is Suspense account? 8. What is depreciation fund method? ### PART-B (4 x 12 = 50 Marks) **Note:** Answer any four questions. 9. Define Accounting and Explain the importance and objectives of accounting. 10. Apply the accounting rules and Journalize the following transactions in the books of SriLaxmi & Co. | Date | Particulars | Rs. | |---|---|---| | 2022 Jan | Business started with Rs. 10,000, | | | 1 | Cash and Furniture Rs.5,000 | | | 2 | Goods purchased from Mr.Sathish | 2,000 | | 5 | Rent paid Rs.1,000 | | | 8 | Goods sold to Ms. Ramya Rs.4,000 | | | 10 | Paid for advertisement Rs.3000 | | | 11 | Purchased Car for office Rs. 100000 | | 11. Explain the subsidiary books of Journal. 12. From the following particulars prepare a Bank Reconciliation Statement to find out the causes of difference in two balances as on August 31st, 2016 for Four Star (Pvt.) Ltd. (i) Bank Overdraft as per Bank Statement Rs.17,000 (ii) Check issued but not encashed during the August Rs.2,200 (iii) Dividends on shares collected by banker Rs.2,300 (iv) Interest charged by the bank recorded twice in the Cash Book Rs.500 (v) Check deposited as per Bank Statement not entered in Cash Book Rs.3,400 (vi) Clubs dues paid by bank as per standing instruction not recorded in Cash Book Rs.1,200 (vii) Uncredited check due to outstation Rs.3,900 ## FACULTY OF LAW ### BBA LL.B (5YDC) I Semester Examination, April / May 2023 Subject: Law Paper-IV: Financial Accounting Time: 3 Hours Max. Marks: 80 ### PART-A (5 x 6 = 30 Marks) **Note:** Answer any five questions. 1. Branches of Accounting 2. Petty Cash book 3. Sales Book and sales returns book 4. Bank Reconciliation statement 5. Suspense account 6. Capital profit Vs revenue profit 7. Depreciable assets 8. Sale proprietor ### PART-B (4 x 12.1/2 = 50 Marks) **Note:** Answer any four questions. 9. State the meaning of Accounting? Explain the objectives and limitations of financial Accounting. 10. What is a trial balance? What are the different columns of a trial balance? Explain the different methods of preparing trial balance. 11. Journalize the following transactions- | Date | Particulars | Rs. | |---|---|---| | Jan 1, 2010 | Business started with cash | 50,000 | | Jan 2, 2010 | Machinery Purchased from Ram | 10,000 | | Jan 3, 2010 | Goods Purchased from Raghu for cash | 10,000 | | Jan 4, 2010 | Furniture Purchased for cash | 15,000 | | Jan 5, 2010 | Salary paid to Suresh | 2,000 | | Jan 6, 2010 | Amount deposited in bank | 10,000 | | Jan 7,2010 | Payment to Ram through cheque | 5,000 | | Jan 8,2010 | Cash withdrawn from bank | 1,000 | | Jan 9,2010 | Loan taken from Mr. X | 20,000 | 12. Explain the meaning of the term ledger and discuss its need and importance? 13. State the meaning of depreciation. Differentiate between straight line method and written down value method of providing depreciation. 14. How will you treat the following items in final accounts? Pass adjusting entries of these items (if any): (a) Loss of goods by flood (b) Goods taken by the proprietor for domestic use (c) Contingent Liabilities (d) Goods distributed as free samples (e) Goods given as charity 15. From the following Trial Balance of Messrs Mitra & co. Prepare Trading and profit and loss A/C and Balance sheet for the year ending 31st March 2019. | Particulars | Dr Rs | Cr Rs | |---|---|---| | Capital | | 10,000 | | Plant and Machinery | 4,000 | | | Sundry Debtors | 2,400 | | | Sundry Creditors | | 1,200 | | Drawings | 1,000 | | | Purchases | 10,500 | | | Wages | 5,000 | | | Bank | 1,000 | | | Repairs | 50 | | | Stock | 2,000 | | | Returns Outward | | 500 | | Rent | 400 | | | Sales | | 16,400 | | Manufacturing Expenses | 800 | | | Trade Expenses | 700 | | | Bad Debts | 200 | | | Carraige | 150 | | | Bills Payable | | 500 | | Returns inwards | 400 | | | **Total** | **28,600** | **28,600** | The closing stock was valued at Rs.1,450 provided for depreciation on plant and machinery Rs.400 and allow 5% interest on capital Rs.50 is due for repairs. 16. Explain the different types of accounting errors. ## FACULTY OF LAW ### BB.A LL.B (5YDC) I Semester Examination, August 2023 Subject: Law Paper - IV: Financial Accounting Time: 3 hours Max. Marks: 80 ### PART - A (5 x 6 = 30 Marks) Note: Answer any five questions. 1. Write about the branches of Accounting. 2. What are the types of accounts? 3. Write about the three columnar cash book. 4. What is Bank Reconciliation statement? 5. What are General and Special reserves? 6. Why is the Trading Account prepared? 7. What is Suspense account? 8. What is depreciation fund method? ### PART-B (4 x 12 = 50 Marks) Note: Answer any four questions. 9. Define Accounting and Explain the importance and objectives of accounting. 10. Apply the accounting rules and Journalize the following transactions in the books of SriLaxmi & Co. | Date | Particulars | Rs. | |---|---|---| | 2022 Jan | Business started with Rs. 10,000, | | | 1 | Cash and Furniture Rs.5,000 | | | 2 | Goods purchased from Mr.Sathish | 2,000 | | 5 | Rent paid Rs.1,000 | | | 8 | Goods sold to Ms. Ramya Rs.4,000 | | | 10 | Paid for advertisement Rs.3000 | | | 11 | Purchased Car for office Rs. 100000 | | 11. Explain the subsidiary books of Journal. 12. From the following particulars prepare a Bank Reconciliation Statement to find out the causes of difference in two balances as on August 31st, 2016 for Four Star (Pvt.) Ltd. (i) Bank Overdraft as per Bank Statement Rs.17,000 (ii) Check issued but not encashed during the August Rs.2,200 (iii) Dividends on shares collected by banker Rs.2,300 (iv) Interest charged by the bank recorded twice in the Cash Book Rs.500 (v) Check deposited as per Bank Statement not entered in Cash Book Rs.3,400 (vi) Clubs dues paid by bank as per standing instruction not recorded in Cash Book Rs.1,200 (vii) Uncredited check due to outstation Rs.3,900 ## FACULTY OF LAW ### BBA LL.B (5YDC) I Semester Examination, April / May 2023 Subject: Law Paper-IV: Financial Accounting Time: 3 Hours Max. Marks: 80 ### PART-A (5 x 6 = 30 Marks) Note: Answer any five questions. 1. Branches of Accounting 2. Petty Cash book 3. Sales Book and sales returns book 4. Bank Reconciliation statement 5. Suspense account 6. Capital profit Vs revenue profit 7. Depreciable assets 8. Sale proprietor ### PART-B (4 x 12.1/2 = 50 Marks) **Note:** Answer any four questions. 9. State the meaning of Accounting? Explain the objectives and limitations of financial Accounting. 10. What is a trial balance? What are the different columns of a trial balance? Explain the different methods of preparing trial balance. 11. Journalize the following transactions- | Date | Particulars | Rs. | |---|---|---| | Jan 1, 2010 | Business started with cash | 50,000 | | Jan 2, 2010 | Machinery Purchased from Ram | 10,000 | | Jan 3, 2010 | Goods Purchased from Raghu for cash | 10,000 | | Jan 4, 2010 | Furniture Purchased for cash | 15,000 | | Jan 5, 2010 | Salary paid to Suresh | 2,000 | | Jan 6, 2010 | Amount deposited in bank | 10,000 | | Jan 7,2010 | Payment to Ram through cheque | 5,000 | | Jan 8,2010 | Cash withdrawn from bank | 1,000 | | Jan 9,2010 | Loan taken from Mr. X | 20,000 | 12. Explain the meaning of the term ledger and discuss its need and importance? 13. State the meaning of depreciation. Differentiate between straight line method and written down value method of providing depreciation. 14. How will you treat the following items in final accounts? Pass adjusting entries of these items (if any): (a) Loss of goods by flood (b) Goods taken by the proprietor for domestic use (c) Contingent Liabilities (d) Goods distributed as free samples (e) Goods given as charity 15. From the following Trial Balance of Messrs Mitra & co. Prepare Trading and profit and loss A/C and Balance sheet for the year ending 31st March 2019. | Particulars | Dr Rs | Cr Rs | |---|---|---| | Capital | | 10,000 | | Plant and Machinery | 4,000 | | | Sundry Debtors | 2,400 | | | Sundry Creditors | | 1,200 | | Drawings | 1,000 | | | Purchases | 10,500 | | | Wages | 5,000 | | | Bank | 1,000 | | | Repairs | 50 | | | Stock | 2,000 | | | Returns Outward | | 500 | | Rent | 400 | | | Sales | | 16,400 | | Manufacturing Expenses | 800 | | | Trade Expenses | 700 | | | Bad Debts | 200 | | | Carraige | 150 | | | Bills Payable | | 500 | | Returns inwards | 400 | | | **Total** | **28,600** | **28,600** | The closing stock was valued at Rs.1,450 provided for depreciation on plant and machinery Rs.400 and allow 5% interest on capital Rs.50 is due for repairs. 16. Explain the different types of accounting errors. ## FACULTY OF LAW ### BBA LL.B (5YDC) I Semester Examination, April / May 2023 Subject: Law Paper-IV: Financial Accounting Time: 3 Hours Max. Marks: 80 ### PART-A (5 x 6 = 30 Marks) Note: Answer any five questions. 1. Branches of Accounting 2. Petty Cash book 3. Sales Book and sales returns book 4. Bank Reconciliation statement 5. Suspense account 6. Capital profit Vs revenue profit 7. Depreciable assets 8. Sale proprietor ### PART-B (4 x 12.1/2 = 50 Marks) **Note:** Answer any four questions. 9. State the meaning of Accounting? Explain the objectives and limitations of financial Accounting. 10. What is a trial balance? What are the different columns of a trial balance? Explain the different methods of preparing trial balance. 11. Journalize the following transactions- | Date | Particulars | Rs. | |---|---|---| | Jan 1, 2010 | Business started with cash | 50,000 | | Jan 2, 2010 | Machinery Purchased from Ram | 10,000 | | Jan 3, 2010 | Goods Purchased from Raghu for cash | 10,000 | | Jan 4, 2010 | Furniture Purchased for cash | 15,000 | | Jan 5, 2010 | Salary paid to Suresh | 2,000 | | Jan 6, 2010 | Amount deposited in bank | 10,000 | | Jan 7,2010 | Payment to Ram through cheque | 5,000 | | Jan 8,2010 | Cash withdrawn from bank | 1,000 | | Jan 9,2010 | Loan taken from Mr. X | 20,000 | 12. Explain the meaning of the term ledger and discuss its need and importance? 13. State the meaning of depreciation. Differentiate between straight line method and written down value method of providing depreciation. 14. How will you treat the following items in final accounts? Pass adjusting entries of these items (if any): (a) Loss of goods by flood (b) Goods taken by the proprietor for domestic use (c) Contingent Liabilities (d) Goods distributed as free samples (e) Goods given as charity 15. From the following Trial Balance of Messrs Mitra & co. Prepare Trading and profit and loss A/C and Balance sheet for the year ending 31st March 2019. | Particulars | Dr Rs | Cr Rs | |---|---|---| | Capital | | 10,000 | | Plant and Machinery | 4,000 | | | Sundry Debtors | 2,400 | | | Sundry Creditors | | 1,200 | | Drawings | 1,000 | | | Purchases | 10,500 | | | Wages | 5,000 | | | Bank | 1,000 | | | Repairs | 50 | | | Stock | 2,000 | | | Returns Outward | | 500 | | Rent | 400 | | | Sales | | 16,400 | | Manufacturing Expenses | 800 | | | Trade Expenses | 700 | | | Bad Debts | 200 | | | Carraige | 150 | | | Bills Payable | | 500 | | Returns inwards | 400 | | | **Total** | **28,600** | **28,600** | The closing stock was valued at Rs.1,450 provided for depreciation on plant and machinery Rs.400 and allow 5% interest on capital Rs.50 is due for repairs. 16. Explain the different types of accounting errors. ## Code. No: D-12607/BL 16. Enter the following transactions in the cash book (with cash and Bank Columns). | 2009 | Rs. | |---|---| | April 1 | Bank Over Draft | 3,000 | | | Cash in hand | 575 | | April 7 | Cheque received from X | 1,000 | | | Discount allowed | 50 | | April 9 | Cheque received from x | | | | Deposited in bank | | | April 12 | Cheque paid to Y | 625 | | | Discount received | 12 | | April 15 | X’s cheque dishonoured | | | April 20 | Money withdrawn from bank for office use | 750 | | April 23 | Fees of Children paid | 118 | | April 25 | Cheque received from Z and endorsed it to A | 1,125 | | April 27 | Bank charges | 5 | | April 30 | Cheque endorsed to A dishonoured | | | April 30 | Paid into bank the entire balance after retaining Rs.75 at office. | |