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*IBA
(sEM. f) THEORY EXAMINATIGN, 2015-16
BUSINESS ACCOUNTING
SECTION-A
l. Atternpt all parts. All parts carry equal marks.
(2x10:20)
statem$nt.
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ln a*coun{ing:
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? Ff*rvdothey berrefit fflafiagsfflentsf:ryhat pr*blems do
they create for it.
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\rVcrking Capital 2,33,5 3,0 LO 3,S2,5#,S55
Plant & Eguipment 99,78,420 i Z]LLJ,S&qE_
Long te r"m Debt 7 2,80,000 3.,4S,S#,ff-fi{},
Net taneibf e Asset 2,80,80,23CI 4,$S,76"*S0
5 monttrs,
g. Debtorsvelocwz.5 rnonths, stcckvelociry
SECTTON{
( I 5 *2:30)
AtternPt anY twtl Parts:
(4) NMBA.OI3
35500
General ExPenses 7Br0S0-" "' ' ' '"'-" ':'r
Advertisement 8
Insurance 45,000
Salesman's
Commission
Postage and TelePhone 57,500
Salaries 1,60,000
Rates and taxes 25,000
Drawings 2A,000
Capital Account 14 "43,000
Purchases i, 1 5,5 0,000
Salos , t 9,8?,500
ry 36.3p.-500
The following adjustment are to be made
ff,30"50q
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Lry 2 *nh
on total s&les.
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lpront & Loss
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for Stock In
Inroulsion e
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|Taxatir:n Dehtor zG.ooGl
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l5undry tt
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lcredtors Cash at Ba* 6,60S1 15,2m
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(7) [p.'r"o.]
35500
Ad ditiomn I Imforrn ation ;
Provision of Rs. 5000 was made for taxation during the 2014.