BCA 2nd Semester
Financial Accounting Board Question Paper 2021

What are the objectives of accounting?

Following cash and banking transactions were given to you.

1. 1, January, Debit balance of cash in hand Rs.10,200 and in bank cash book Rs. 35,500.
2. 7, January, Received a cheque of Rs. 15,000 from Kabi.
3. 12, January Goods purchased at Rs. 15,000 and paid in cash Rs. 4,000 and balance by cheque.
4. 20, January, Cash drawn from bank for office use Rs.8,000.
5. 31, January, Paid salary Rs. 10,000 by cheque and Rs.2,000 office rent in cash.

Following sales transactions were given to you

1. 1, Falgun, Sold following items to Ale Store Damauli
   • 30 table fans @ Rs.1000 each.
   • 20 ceiling fans @ Rs.1500 each.
2. 15, Falgun sold following items to Gurung Store Katlem
   • 15 electronic heater @ Rs.1500 each
   • 10 Rice cookers @ Rs.1200 each
   • (Trade discount 10 percent)
3. 22, Falgun Sold 10 pressure cookers @ Rs.1500 each on cash to Shrestha Store Dumre.
4. 25, Falgun, Sold following items to Tiwari Store Talchok
   • 20 table fans @ Rs.1000 each with trade discount 5 percent.
   • 10 ceiling fans @ Rs.1500 each on cash.

A company purchase a machinery at Rs. 1000,000 on 1st January 2017. The expected scrap value will be Rs. 200,000 at the end of its' life. The life of machine is 10 years.
Required: Machinery account from 2017 to 2021.

Nepal Star company is registered at 200,000 equity shares @ Rs.100 each. But the company issued 100,000 shares to public. The money called up Rs.30 on application, Rs.40 on allotment and Rs.30 on final call. The company received application for 95,000 shares and accepted in full. A shareholder Rachana holds 500 shares unpaid money of allotment, final call.
Required: Journal entries for share application, allotment and final call.

A manufacturing company provides abstracts of material transactions of March.

1. 1, March, Opening balance of materials 800 units @ Rs.10 each.
2. 5, March, Issued 700 units
3. 12, March, Purchased 800, units @ Rs.11 each.
4. 17, March, Purchased 700 units @ Rs.12 each.
5. 18 March, Issued 700 units
6. 22, March, Returns 100 units from work order July, 5.
7. 24, March, Purchased 700 units @ Rs.11.5 per unit.
8. 27, March, Issued 1100 units.

Mr. X started business from Baishak 2077. He had given following information of business for the month.

1. 1, Baishakh Started business in cash Rs. 400,000 and furniture Rs. 50,000.
2. 2, Baishakh Purchased goods on cash Rs. 200,000 and credit Rs. 200,000 from Karki Supplier.
3. 5, Baishakh Opened bank account at Nepal Bank Rs. 100,000.
4. 8, Baishakh Goods sold on cash Rs. 70,000 and on credit to Shrestha Suppliers Rs. 80,000.
5. 12, Baishakh Goods purchased at Rs. 100,000 on credit from Karki supplier.
6. 18, Baishakh Cash received from Shrestha Supplier Rs. 50,000 and discount given Rs. 5,000.
7. 19, Baishakh Goods sold at Rs. 50,000 and payment received by cheque.
8. 20, Baishakh Cash paid to Shrestha Suppliers Rs. 100,000 on credit.
9. 24, Baishakh Cash paid to Karki Supplier at Rs. 150,000 and discount received Rs. 5,000.
10. 26, Baishakh Goods purchased from Nepal Suppliers at Rs. 150,000, partial payment made by cheque Rs. 50,000.
11. 27, Baishakh Depreciate furniture by Rs. 2,000.
12. 28, Baishakh Computer purchased at Rs. 50,000 and paid by cheque.
13. 29, Baishakh Electricity bill Rs. 3,000 and house rent Rs. 10,000 paid by issue of cheques and salary Rs. 7,000 in cash.

Following is the trial balance of a Shrestha Store on the year ending December 31, 2021.

• Provide depreciation on furniture, 10 percent and vehicle 20 percent.
• Prepaid insurance expired Rs.5,000 only.
• Advance salary Rs. 10,000.
• stock Rs.50,000
• Interest on loan is payable

1. Trading account
2. Profit and loss account
3. Balance sheet

Explain any 5 Accounting concepts?