B.B.A. (Part-I) FINANCIAL MANAGEMENT PAPER 3

B.B.A. (Part-I) FINANCIAL Management

PAPER -III

Sec.-A
1. Define 2 examples of Personal a/c.
2. Make a performa of Debtors a/c.
3. Define account equation.
4. What is short sales.
5. Define 4 examples of indirect expense.
6. Define 4 examples of direct expense.
7. What is Ledger.
8. What is compound entry.
9. Define provision and reserve.
10. Define Fifo and Lifo Method.

Sec.-B
1. Define Accounts, its objective and golden rules of accounting.
2. Define concepts and convention Accounting.
3. Prepare trail Balance.
Rs.
1. Capital A/c 1,80,000
2. Sales A/c 1,22,260
3. Purchase A/c 82,260

4. Drawing A/c 19,200

5. Machine A/c 40,000

6. Building A/c 80,000

7. Due From customer 50,400

8. Discount received 6,360

9. Purchase return 932

10. Cartage a/c 1,752

11. Salary and Wages 5,340

12. Insurance 1,680

13. Rent from tenants 7,200

14. Interest on Loan given 2,800

15. Dock charges         1,340

16. Motor Expenses 3,160

17. Cash in hand 3,280

18. Creditors 12,900

19. Loan from thakur 8,800

20. Commission Received 11,980

21. Bills Recived 5,020

22. Opening Stock 14,400

23. Furniture & fittings          18,000

24. Travelling Expenses 2,200

25. Bank Balance as per pass book 40,000

26. Bank balance as per cash book 32,000

27. Royalty Received 2,000

28. Professional fees Received 4,000

4. From the following information prepare two sales ledger adjustment accounts in the general ledger of M/s Bhagwan and company. Who maintain their ledger on self-balancing system.

A-M Sales N-Z Sales

Ledger Ledger

Rs. Rs.

Opening Balance(Dr.) 32000 40000

Opening Balance(Cr.) 3600 5400

Total sales 120000         116000

Cash sales 70000 56000

Sales return 4000 6000

Cash received from debtors 40000 36000

Discount allowed 1000 800

Bills Receivable received 4000 5000

BIR endorsed to creditors 2000 3000

B/R dishonoured 1600 1400

B/R renewed         1200 1400

Cash refunds           350 360

Closing credit balances   800 400

i. An amount of Rs. 1,000 of Akhil a debtor whose account is opened in A-M sales ledger is to be transferred to purchases ledger.

ii. Rs.500 should be transferred from A-M sales ledger to N-Z sales ledger of a customer whose account is wrongly opened in the A-M sales ledger.

5. Define types of Errors.

Sec.-C

1. Calculate amount for consequential loss:-

i. Financial year ends of 31st December.

ii. Fire occurs on September 1 following.

iii. Period of disruption (Sep.1-Dec.31)

iv. Period of indemnity 6 months.

v. Net profit for previous financial year Rs. 20,000

vi. Insured standing charges Rs. 30,000
vii. Uninsured standing charges Rs. 6,000
viii. Increase in the cost of working Rs. 4200
ix. Saving insured standing charges rs. 1200
x. Reduced turnover avoided through increased cost of working Rs. 10,000
xi. Special circumstances stipulated.
a. Increase in turnover(standard and annual) 20%
b. Increase in rate of gross profit 5%
xii. Turnover for the four months ending.
30th April 31st August 31st December
I year(Rs.) 40,000 90,000 70,000
II year(Rs.) 60,000 1,10,000 20,000
Amount of Policy Rs. 64,800