Financial Accounting and Analysis

bbsfirst year

This course covers the concepts and principles of financial accounting, recording business transactions, accrual accounting, adjusting and closing entries, preparation of financial statements, and basic financial statement analysis.

Chapter Wise Notes Question Banks Syllabus Chapter Wise Questions

Faculty of Management

2080

Bachelor of Business Studies

Financial Accounting and Analysis

MGT 211

Full Marks: 100

Candidates are required to give their answers in their own words as far as practicable. The figures in the margin indicate full marks.

"Section A"

Attempt All question

[10*2=20 ]

"Section B"

Attempt any Five questions

[5*10=50 ]

"Section C"

Attempt any Two questions

[2*15=30 ]

Item	Amount	Item	Amount
Sales	Rs. 300,000	Wages to workers	Rs. 40,000
Interest paid	Rs. 10,000	Income tax paid	Rs. 12,000
Depreciation	Rs. 30,000	Net profit	Rs. 20,000

Particulars	Debit	Credit
Sundry Debtors	330,000
Bad Debts	30,000
Provision for Doubtful Debts		50,000

Date	Transaction	Number of Units	Unit Cost Rs.	Total Rs.
Baisakh 9	Beginning inventory	1,200	1	1,200
Ashad 12	Purchase	800	1.2	960
Shrawan 17	Sale	(1,300)
Ashwin 30	Sale	(300)
Poush 12	Purchase	600	1.3	780
Chaitra 19	Sale	(700)

Liabilities	Year 1	Year 2
Equity Share capital	900,000	1,000,000
Share premium	90,000	100,000
10% Debentures	100,000	50,000
Provision for tax	20,000	30,000
Provision for dividend...	10,000	20,000
Accounts payable	60,000	110,000
Profit and loss a/c	30,000	160,000
	1,210,000	1,470,000
Assets
Fixed assets	800,000	1,000,000
Inventory	100,000	150,000
Accounts receivable	190,000	150,000
Prepaid expenses	20,000	30,000
Cash	100,000	140,000
Total	1,210,000	1,470,000

Particulars		Rs.
Sales revenue		11,00,000
Less: Cost of goods sold		710,000
Gross Profit		390,000
Less: Operating expenses:
Administrative expenses	157,000
Depreciation	50,000
Provision for tax	30,000
Provision for dividend	20,000
Interest paid	10,000
Premium on redemption of debentures	5,000
Total operating expenses		272,000
Net income		118,000
Add: Gain on sale of fixed assets		12,000
Retained earning		130,000