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Bachelor of Business Administration- BBA Semester 1
Set - 1
Q1. ABC Ltd Purchased Plant and Machinery costing Rs 40000 on 1st April 2013. It has been decided to
depreciate it at the rate of 30% p.a on the written down value method. Show the Plant and Machinery
account till 31st March 2017.
Q2. Mita, Vikash and Preetha are partners sharing profit and losses in the ratio of 3:2:1. Their Balance
Sheet was as follows.
Preetha retires on 01.05.2017 and as a result the assets are revalued and liabilities reassessed as
follows:
New Profit sharing ratio between Mita & Vikash is 3/5 : 2/5.
Q3. Prepare a Banks reconciliation statement from the following particulars as on 31st April 2016
2. Cheques for Rs 4860 were deposited into bank but credited only Rs 3260 up to 31st April, 2016
5. Bank Charges Rs 30
Add:
● Customer directly deposited into bank 470
● Interest Credited by Bank 230
700
10250
Set – 2
Different categories of users need different kinds of information for making decisions. These users can be
divided into:
1. Internal Users
2. External Users.
1. Internal Users:
These are the persons who manage the business, i.e. management at the top, middle, and lower levels.
Their requirements of information are different because they make
Relevance
Understandability
Reliability
Comparability
True and Fair View/Fair Presentation
The qualitative characteristics of useful financial reporting identifies the types of information that are likely
to be most useful to users in making decisions about the reporting entity on the basis of information in its
financial report. The qualitative characteristics apply equally to the financial information in general
purpose financial reports as well as to the
Q3. X and Y are in partnership, sharing profits and losses in the ratio of 3:5. They admit Z into
partnership and the new-profit sharing ratio is 4:3:3. Value of Goodwill is agreed at Rs 30000. Z
contributes Rs 20000 as capital and necessary amount of premium, half of which is retained in the
business. Show the Journal Entries
Answer.
SPRING-2018
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