+3-1-S-CBCS(MS)-Com(H/P)-Core 1/DSC-1-FA

2021
Time: As in Programme
Full Marks : 80
Answer from all the Parts as directed.
The figures in the right-hand margin indicate marks.

Part I
1. Fill in the blanks with appropriate terms / wards: [Ix 12
a. Accounting begins where ends
b. Under basis of accounting only actual cash receipts and
actual cash payments are recorded.
C. Every business transaction affects at least accounts.
d. Accounting standard 3 deals with
IASB stands for
f. Depletion method of depreciation is used for assets.
If outstanding salary appears in the trial balance, it is taken
only to the
h. Income tax paid by the sole proprietor on his business income
should be deducted from account in the balance sheet.
Unrecorded liability paid at the time of dissolution of the form
is to be debited to account.
Under stock and debtors system, branch profit or loss is
ascertained by preparing account.

k. The difference between the net hire purchase price and the
net cash price ofthe goods is termed as
In departmental accounting system, expenses relating to a
particular department are called expenses
Part - II

2 Answer any eight of the following questions in two to three

sentenceseach: 2 x8
(Turn Over)
FA-301(4)
 a. What do you mean by balancing of an account?
b. What is dcbit note?
C. What is XBRL?
d. What is meant by business income?
Define Depreciation.
What is adjusted purchasc?
What is a contingent Liability?
h. State any four items that may appear on the debit side of the
partners current account.
What do you mean by Realisation Account?
What is meant by down payment?
Part Ill
3 Answer any eight of the following questions within 75 words
cach. 3 x8
a) What are the qualitative characterstics of Accounting
information?
b. What is an opening entry? Give example.
C. How does matching principle applies to depreciation?
d. Discuss the procedure for measurement of business income.
e. Distinguish between capital receipts and revenue receipts.
f. What do you understand by Marshalling of assets and liabilities?
Enumerate the factors that affect the valuation of Goodwill.
h. Distinguish between operating lease and financial lease.
Give journal entries in the books of hire purchaser and vendor
when there is complete repossession of goods.
Differentiate between a dependent and an independent branch.
Part- IV

Answer the following questions within 500 words each 7x4

A. "Accounting is the language of the business and an information

system." Elucidate the statement.

OR
"A trial balance is merely a proof of arithmetical accuracy."
Explain this statement and bring out clearly the various classes
of errors, which a trial balance fails to disclose.

(2) (Contd
FA-301(4)
 standards in
of issuing of Accounting
Explain the procedure
India.
OR
standards 6 (AS-6)
Explain the salient features of Accounting
relating to Depreciation Accounting.
and other given particular,
6. From the following Trial Balance
& loss Account for
the year ended
prepare Trading and profit
balance shect as on that date
31st December, 2021 and a

Trial Balance
Mr. A's capital A/C Dr. Cr. (Rs)
1,000 10,00,000
Personal Debts
Balance at Bank 1,76,000
Motor Vehicles at cost less Depreciation 1,48,000
2,96,000 2,32,000
Debtors and creditors
Printing and stationary 6,600
Purchases and sales 24,00,000 31,60,000

Opening stock 2,40,000

Provision for Doubtful Debts 5,000

Bad debts 11,400

Freehold Premises at cost 8,00.000
Repairs to Premises 47,600
2,00,000
General Reserve
Employees' Remuneration 20,000
Wages and Salaries 2,29,000

Motor and Delivery Expenses 99,000

Administration Expenses 1,31,400

Rates and Taxes 15,000

1,00,000
Drawings
Last year's profit and loss A/c
Balance 1,24,000
47,21,000 47,21,000

Additional Information

Stock in hand as on 31st December, 2021 Rs.2,80,000.

1
motor vehicle by Rs.74,000
Depreciate

(Turn Over)
(3)
FA-301(4)

YONTRiROC
 Sundry creditors include a claim for damages of Rs.20,000
made last year. This was settled during this year for Rs. 15, 100
Unpaid wages Rs.1,600
Rates paid in advance Rs.3,000
Provision for bad debts is to be reduced to Rs.3,500.
The item of repairs to premises includes Rs.20,000 for capital
structure.
Stock ofstationery on hand as on 31st December, 2021 amounts
to Rs.2,200.
OR
What do you mean by Dissolution of a firm? Give the entries
needed to close the books of the firm upon its dissolution.

1+6
1. Raman Transport co. puchased five machines from Lucky
Machinery Ltd. on 1st January, 2018 on hire purchase system.
The cash price of each machine is Rs.1,20,000. The mode of
payments was as follows.:
i) 15% of cash Price down
1) 25% of cash price at the end of cach year for 4 years.
Raman Transport Co. writes off 15% depreciation annually on
diminishing balance. The payment due on 31st December, 20119
could not be made. Lucky Machinery Ltd. agreed to leave three
machines with the buyer on the condition that the value of other
two machines would be adjusted against the amount due, the
machines being valued at cost less 25% depreciation on
diminishing balance.
Show the necessary accounts in the books of Raman Transport
Co.
OR
What is meant by Departmental Accounts? Explain the
difference between departmental accounts and branch
accounts.

(4)
FA-301(4) 6850
 +3-1-S-CBCS(MS)-Com(H/P)-Core-2/DSC-2-BL

2021
Time : As in Programme
Full Marks: 80
Answer from all the Parts as directed.
The figures in the right-hand margin indicate
marks.
Part - I

1. Fill in the blanks with appropriate terms/wards [Ix 12

a. The active concealment of a fact by a person having

knowledge of hte fact is called
b. Consideration need not be it must be of
but
Some in the eyes of the Law.

C. The bailment of goods as security for payment of debt or

performance of a promise is called

d. A stipulation which is essential to the main purposee

contract is known

The time limit to get the information under the RTI Act,
2005 is
f. The consumer Protection Act, 1986 extends to the whole
of India except the state of

Every limited Liability Partnership shall have at

least designated partners who are individuals.

h. A partnership firm is compulsorily dissolved when the

business of the firm becomes

(Turn Over)
BL-302(4)
 . The legal definition of partnership is given in

section of the Indian Partnership Act, 1932

The parties to a bill of exchange are drawer, drawee

and

k. endorsement Prohibits the further negotiability

of the instrument.

Dishonour of negotiable instrument of non-payment is

covered under section of Negotiable Instrument
Act, 1881.

Part II
Answer any eight of the following questions in two to
three sentences each 2x8
a. What is an agreement?
b. When is consent said to be free?

C. Define quantum meruit.

d. When are goods deemed to be in a deliverable state?

What is right to information?

f. What is meant by dissolution of partnership?

Define limited liability Partnership.

h. What is partnership deed?

What is meant by discharge of a negotiable instrument?

Define a promissory note?

Part Il1
Answer any eight of the following questions within 75
.
words each. 3 x8

a) Distinguish between void agreements and void contracts.

(2) (Contd.)
BL-302(4)
 holder when sued?
b. What are the rights of indemnity
C. Distinguish between bailment and pledge.
between sale and agrecment to sale.
d. Distinguish
What is meant by "Nemo Det Quod Non Habet"?

State the objectives of consumer Protection Act, 1986.

.
Distinguish between partnership and co-ownership.

h. Write a note on "incorporation document"

1. What are the characteristics of a negotiable instrument?

What is meant by holder in due course'?

Part-IV

Answer the following questions within 500 words each.

4 Explain the term consideration and state the exeeptions

to the rule - "No consideration, no contract." 3+4
OR

What is a continuing guarantee? When and how is it

revoked?

5 Explain briefly the implied conditions and warranties ina

contract of sale of goods. 7

OR
Explain the main problems of consumer and state the
right of consumer under consumer protection Act, 1986.
3+4
What is the Procedure for
registration of a
partnership
firm? When is the
registration of a firm treated as
completed? State the consequences of non-registration
of a firm? 3.5+3.5
(Turn Over)
BL-302(4)
 OR
Point out the differences between a LLP under the limited
Liability Partnership Act, 2008 and a company under the

Indian companies Act, 1956.

What is meant by the term "crossing of a cheque?" What
1.
are the various types of crossings? Who can cross a

chaque? 2+4+1
OR
What do you mean by dishonour of negotiable
instruments? Discuss the modes and etfects of dishonour.
2+4+1

(4)
BL-302(4) 6850