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BCM-103

Financial Accounting

Q1. Defne Accounting. Explain the generally acceptable Accounting rinciple!.

Q". #hat i! Financial Accounting$ Explain %unction! an& ob'ecti(e! o% Accounting.

Q3. Defne the %ollo)ing ter*! )ith !uitable exa*ple!+

a, ournalb, roft lo!! account!c, etty ca!h boo/&, e&gere, Balance !heet

Q. 2i(e belo) the %e) tran!action! o% Mr. al*an %or the *onth o% anuary "01".

4ecor& the tran!action! in the 'ournal.

i. 1 anuary "01"+ !tarte& bu!ine!! )ith ca!h 4!. 56006000

ii. " anuary "01"+ recei(e& ban/ loan %or 4!. "6006000iii. 7 anuary "01"+ purcha!e& lan& )orth 4!. 6006000i(. 8 anuary "01"+ bought *achine )orth 4!. "6006000(. 19 anuary "01"+ purcha!e& ra) *aterial on cre&it %or 4!. 16006000 %ro*

A*ir(i. 17 anuary "01" + !ol& goo&! )orth 4!. "6106000 to ai% ali on cre&it(ii. 18 anuary "01"+ pai& 4!. :96000 to A*ir in %ull !ettle*ent.(iii. "3 anuary "01"+ goo& !ol& %or ca!h )orth 4!. "6006000ix. "5 anuary "01"+ !ai% ali )a! &eclare& in!ol(ent an& only 4!. "6006000

coul& be reco(ere& %ro* hi*x. 30 anuary "01"+ pai& o;ce expence 4!. 306000 o% )hich 4!. 106000 i!

&ue %or the next *onth.

Q9.

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Q8.