I Sem B.com - Financial Accounting I - Question Paper 2012

I Sem B.com Examination, October/November 2012
(New Syllabus Scheme) (2012 - 13 and Onwards)
1.3 : Financial Accounting

Time : 3 Hours                                                                                                          Max. Marks : 100

Instruction : Answer should be written completely either Kannada.


Answer any 10 sub questions from the following. Each question carries 2 marks.    (10x2=20)

1. a) What is right of repossession

b) Give any two advantages entry system to double entry system.

c) Give the specimen of Bills receivable account as prepared under single entry system.

d) What is meant by recoupment of shortworkings ?

e) Why is minimum rent clause included in the Royalty agreement ?

f) Ascertain credit sales from the following
Debtors on 1.1.2010       -  1,54,000
Cash Received                -  3,50,000
Bad Debts                       - 14,000
Debtors on 31 .12.2010   - 1,27,500
Bills Receivables Dishonoured - 9,000

g) What remedies a lnstalment vendor has if any instalment is not paid by the hire purchaser ?

h) What Journal entry is passed to record irrecoverable short workings in the books of Tenant ?

i) What is meant by purchase consideration?

j) How do you calculate installment price of an asset under hire purchase system ?

k) Give any two advantages

l) Define Book keeping of accounting.


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