JAIPUR NATIONAL UNIVERSITY, JAIPUR

School of Distance Education & Learning

Internal Assignment No. 1
Bachelor of Business Administration (BBA)- (Retailing)
Paper Code: BBA – 101
Paper Title: Fundamentals of Accounting

Last date of submission: Max. Marks: 30

Note : Question No. 1 is of short answer type and is compulsory for all the students. It carries 1 Mark each
(Word limits 50-100)

Q. 1. Answer all the questions:

(i) What do you mean by accounting?
(ii) Distinguish between Profit and Loss Account and trading a/c.
(iii) What do you mean by incomplete records?
(iv) What do you mean by forfeited of share? Explain with example.
(v) Explain any one method of depreciation.
(vi) Define accounting. Give the main objectives of accounting.
(vii) What do you mean by depreciation? Give two reason of decrease in the value of assets.
(viii) What is income and expenditure account? How is it differentiate for receipt and payment account?
(ix) Write down the different type of shares.
(x) What do you mean by redemption of debenture?

Note: Answer any four questions. Each question carries 5 marks (Word limits 500)
Q. 2. What do you mean by accounting? Who are the users of accounting? Explain its scope.
Q. 3. Define debenture. Explain the various types of debentures.
Q. 4. Journalise the following transactions in the books of M/s Sohan & sons:
2008 Rs.
Jan., 01 Goods purchase for cash 1,200
Jan., 02 Purchase good from Ram 1,500
Jan., 04 Goods sold to Laxman 1,000
Jan., 05 Furniture purchase for cash 800
Jan., 07 Charge interest on capital 2,500
Jan., 11 Goods return from Laxman 200
Jan., 12 Goods return to Ram 500
Jan., 14 Withdrew from bank for private use 6,000
Jan., 16 Give in charity: Cash 100
Goods 200
Jan., 19 Salaries paid by cheque 4,000
Jan., 21 Goods sold to Sachin on 10% trade discount and 8% Cash discount 1,000
Jan., 23 Laxman become insolvent and could pay only 75 paise in a rupee
Jan., 26 Proprietor took goods for his personal use 2,000
Jan., 29 Postage Rs. 200 and Rent Rs. 1000 Paid
Jan., 31 Received Rs. 4,000 from insurance company
Q. 5.
Q. 6. What are redeemable [reference shares? Discuss the different methods of redeeming the redeemable
preference shares.