Capital Uniersity of Science and Technology

Department of Management Sciences

ACCB2003 – Principles of Accounting 1
Mid Term- BBA (S1)
Semester: Spring 2020 Max
Marks:20
Date: ` 27/04/2020
Time: 1
Hour
Instructor Name: Nasir Rasool
Instructions:
 Attempt all questions. All questions Carry equal marks. This exam carries 20%
weightage towards the final evaluation.
 This examination is being conducted in extra ordinary circumstances so I expect
that all students will exhibit higher moral standards. In this connection it is
advised that a statement may be written at the end on the answer sheet that “I
solemnly declare that I have not shared this content/answer sheet with
anyone before submission”.
 Stay home and Stay safe

Name: Reg. No.

Part 1
Q. No: -1 (CLO-1)
Record the following transactions in a triple column cash book of Shah Enterprises and calculate the
balance at the end of April 2020

1 April Balance b/f: Cash in Hand: Rs. 50,000, Cash at Bank Rs. 80,000
Sold goods of Rs. 10000. Received a cheque of Rs. 9800 after allowing
3 April
discount.
5 April Paid wages in cash Rs. 1,500
7 April Paid Salaries through a cheque Rs. 5000
9 April Received cash from Ajmal Traders Rs. 8000 after allowing 5% cash discount
Purchased goods of Rs. 15000. Received 2% cash discount. Payment was
11 April
made in Cash
Issued a cheque to MM Enterprises of Rs. 9800 after deducting 2% cash
13 April
discount
20 April Paid maintenance expense in cash Rs. 5000
25 April Sold goods of Rs. 16000 in cash, 5% cash discount was allowed

ACCB2003– Principles of Accounting I Page 1 of 2

 Purchased goods of Rs. 18000. Received 6% trade discount. Payment was
28 April
made in cash

Part 2
Q. No: -2 (CLO-2
Following Trial Balance was extracted from the books of SB Enterprises on 31 December 2019.
Prepare a Trading, Profit and Loss Account and Balance sheet from the provided information:
Trial Balance
December 31, 2019
  Amount (Rs)
  Dr. Cr.
Capital and Drawings 20,000 600,000
Debtors and Creditors 110,000 150,000
Purchases and Sales 400,000 600,000
Return inwards and
Outwards 30,000 40,000
Land and Building 410,000
Furniture and Fittings 200,000
Rent 30,000
Stationary 10,000
Wages and Salaries 20,000
Motor Vehicles 100,000
Interest 50,000
Loan from SCB 200,000
Carriage Outwards 10,000
Carriage Inwards 30,000
Utilities 30,000
Refreshment 40,000
Cash at Bank 120,000
Cash in Hand 80,000  
1,640,000 1,640,000

ACCB2003– Principles of Accounting I Page 2 of 2