BBA203 –Financial Accounting-

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Bachelor of Business Administration- MBA Semester

BBA203 –Financial Accounting- 4 Credits

(Book ID: B1520)

Assignment (60 Marks)

Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60

Q1.Explain different types of accounting conventions.

Q2.Explain the difference between cash discount and trade discount.

Q3.From the following details, pass the necessary closing entries.

Stock on 1-1-2003 4,000

Purchases 15,000

Bad debts 500

Sales 30,000

Returns to suppliers 2,000

Returns from customers 1,000

Wages and salaries 5,000

Carriage on purchases 1,000

Cartage on sales 200

Depreciation on Machinery 1,000

Freight 800

Factory rent 1,000

Office rent 2,400

General expenses 500

Heating and lighting 700

Discount allowed 300

Discount received 400

Commission (Cr.) 500

Insurance 200

Closing stock 6,000

Q4What do you understand about “Partnership Deed” and explain the various contents in partnership deed.

Q5.Explain the Annuity and Sinking fund methods of Depreciation.

Q6. Explain accounting for amalgamation and bring out difference between pooling of interest method and purchase method?