Functional English BSCS 3rd Term Past Paper 2016 UOS

Posted by Ayesha

University of Sargodha
BS 3rd Term Examination 2016

Subject: Computer Science
Paper: Financial Accounting (MNG:2210)
Time Allowed: 2:30 Hours
Maximum Marks: 80

Objective Part (Compulsory)

Q.1. Give short answers to the following questions. (Answer in 2-3 lines) (16*2=32).

(i) Ledger
(ii) Current assets
(iii) Credit transaction
(iv) Journalizing
(v) Debit Balance
(vi) Liabilities
(vii) Voucher
(viii) Direct Expense
(ix) Nominal account
(x) Depreciation
(xi) Outstanding Expenses
(xii) Account
(xiii) Accounting concepts
(xiv) Sales return
(xv) Unearned income
(xvi) Accrual system of accounting

Subjective Part (All questions carry equal marks)

Q.2: Enter the following Transactions in the journal of Mr. Amjad
i) Introduced the cash Rs. 200,000 and furniture Rs. 40,000
ii) Purchased goods from saleem Rs. 60,000
iii) Bought machinery Rs. 80,000
iv) Paid cash to saleem Rs. 59,000 in full settlement of his account
v) Cash given away as charity Rs. 1,000
vi) Paid salaries Rs. 9,000 and telephone charges Rs. 7,000
vii) Sold goods to Akram at a list price less 5% trade discount Rs. 20,000
viii) Cash amounting Rs. 15,000 taken away from proprietor for personal use.

Q.3: Prepare the rectified Journal entries.
a) A credit balance of Rs. 7,550 of the Rent received Account was Recorded as Rs. 5,700.
b) Goods worth Rs. 6,000 Returned by Dawood, were taken in to Stock, but no entry in respect of return was made in the books.
c) Repair of Machinery Rs. 300, Wrongly charged to machinery account.
d) A purchase of goods, Rs. 4,000 from Akber has been wrongly passed through the sales journal.
e) Old Furniture sold, Rs. 2,500 to Kashif, wrongly recorded in sales journal.
f) Rs. 500 withdrew by owner from bank, recorder as a general expense.
g) Amount of Rs. 6,000 received for commission has been wrongly as received for interest.
h) Goods sold to waseem Rs. 4,000 and credited his account by Rs. 300.

Q.4. Enter the transaction in Double column cash book.

April 1 Balance as per cash Rs. 30,000 and Rs. 10,000 was banked.
April 5 Purchased merchandise from “Usman” worth Rs. 1,000 and payment made by cheque.
April 10 Cash taken away by the proprietor for personal use 1,000.
April 15 Cash deposited into the bank Rs. 5,000
April 19 Received from Asif by cheque Rs. 13,000.
April 24 Withdraw cash Rs. 10,000 from bank for office use.
April 26 Sold goods Rs. 8,000 to Hassan on a/c.
April 28 Cheque received from Asif deposited into the bank.