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Datta Meghe Institute of Engineering, Technology & Research,

Salod (H) Wardha
Seasonal Exam-2014
MBA- Semester-I
Paper-4- Financial Accounting
Time: - 1 Hrs. Marks: - 20 Marks
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Instruction:
1. Attempt any 5 question from Section A
2. Attempt any 1 question from Section B

Section A
Q.1 What do you mean by accounting?
Q.2 What do you mean by accounting cycle?
Q.3 How are accounts classified?
Q.4 Write a note on Capital Expenditure & Revenue Expenditure.
Q.5 What is accounting concepts? Give the name of accounting concepts?
Q.6 What is accounting convention?
Q.7 What is Contra entry?
Q.8 Define following term: - 1. Journal 2. Ledger
Q.9 What Trial balance.
Q.10 What do you mean by accounting equation?
Section B
Q.1. Prepare a Bank Reconciliation Statement as on 30
th
September, 2003 from the
following particulars: Bank balance as per the Pass Book ` 10,000
1. Cheque deposited into the bank, but no entry was passed in the Cash Book `500
2. Cheque received and entered in the Cash Book but not sent to bank `1,200
3. Credit side of the Cash Book bank column cast short `200
4. Insurance Premium paid directly by the Bank under the standing advice `600
5. Bank charges entered twice in the Cash Book `20
6. Cheque issued, but not presented to the bank for payment `500
7. Cheque received entered twice in the Cash Book `1,000
8. Bill discounted dishonored not recorded in the Cash Book `5,000

Q.2. Journalise the following transactions. Prepare ledger accounts and a Trial balance.
(a) T started business with ` 50000
(b) Deposited in the bank `. 40000
(c) Purchased goods from A for `. 20000 for which issued a cheque for `. 12000
(d) Sold goods to B for ` 18000 for which received cash `. 5000 and a cheque for
`. 7000. The cheque was deposited in the bank.
(e) Expenses incurred `300
(f) Goods remained unsold ` 3000
Q.3. Discuss the importance of financial information to the parties having interest in
Business unit.