Tribhuvan University
Bachelor of Business Administration
Semester 2 · TU Board 2023
Course Title: Financial Accounting (ACC201)
Full Marks: 100Pass Marks: 70Time: 3 Hrs
Candidates are required to give their answers in their own words as for as practicable.
Group A
Brief Answer Questions(10 × 2 = 20)
- 1.2
Define NFRS.
- 2.2
What is intangible asset?
Answer comingAlso asked in 2025, 2024
- 3.2
What do you mean matching concept of accounting?
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- 4.2
Write about accrual basis of accounting.
- 5.2
Explain about different types of cheque.
- 6.2
The following transaction are given: a. Goods costing Rs 60,000 was sold at 10% profit. b. Rent received Rs 52,000 including advance rent of Rs 4,000 Required: Accounting equation
- 7.2
The following particulars are provided to you: Profit for the year Rs 20,000 Loss on revaluation Rs 12,000 Gain from cash flow hedges Rs 28,000 Gain on sale of investment Rs 22,000 Required: Statement of Other Comprehensive Income as per NFRS
Answer comingAlso asked in 2025, 2024
- 8.2
ABC Company purchased a machine at a cost of Rs 1,000,000 on 1st Baisakh 2077. Installation cost was Rs 50,000. The estimated life of the machine was Rs 5 years with salvage value of Rs 50,000. On 30th Ashwin 2078 machine was sold for Rs 650,000. Required: Amount of profit or loss from the sales of machine
- 9.2
KK Company purchased a car at the cost of Rs 2,020,000 on 1st Shrawan 2077. The estimated life of the car is 100,000 KMs with salvage value of Rs 20,000. During 2077 and 2078, the car was run for 16,000 KM and 24,000 KM respectively. Required: Depreciation for the year 2077 and 2078
Answer comingAlso asked in 2025
- 10.2
The following are the information given to you: ➢ Transportation cost on machine purchased ➢ Servicing charge for bike White wash of old building ➢ Utilities paid Required: The revenue and capital items
Group B
Short Answer Questions:(Attempt any SIX Questions)(6 × 5 = 30)
- 11.5
"Accounting information is needed for decisions", discuss.
- 12.5
Differentiate between accounting and accountancy.
Answer comingAlso asked in 2025
- 13.5
What is trail balance? Why it is prepared?
- 14.5
Following are the information of assets of a Company: Particulars20772078Equipment100,000150,000Building300,000400,000Investment90,000270,000Goodwill60,00045,000Cash and bank70,00035,000Stock50,00040,000Account Receivable30,00060,000 Required: Comparative (Horizontal) Analysis
- 15.5
The bank statement of a company showed a balance of Rs 42,000 on 30th Shrawan 2079. However the company balance showed a different balance of Rs 38,000. On the investigation, the following differences were noticed: ➢ Outstanding cheque Rs 10,000 /? ➢ Deposit in transit Rs 13,000 /? ➢ A customer's cheque of Rs 4,000 was return with the bank statement marked NSF. ➢ Collection of notes receivable for Rs 4,000 and interest on investment Rs 3,000 ➢ Bank charge Rs 2,000 for the service provided by the bank ➢ A cheque of Rs 10,000 was paid by the bank. However, the company recorded Rs 16,000 in its statement. Required: Bank reconciliation statement
Answer comingAlso asked in 2025
- 16.5
The following information is provided to you: Sales Rs 800,000 Material consumed Rs 200,000 Carriage Rs 20,000 Office expenses Rs 50,000 Wages and salaries Rs 70,000 Interest paid Rs 20,000 Dividend received Rs 30,000 Depreciation Rs 40,000 Income tax paid Rs 30,000 Required: (a) Value added statement and (b) Net profit for the year
- 17.5
Required: a. Profit and loss statement for the year ending 31st December 2022 as per NFRS. b. Statement of financial position as on 31st December 2022 as per NFRS.
Group C
Long Answer Questions:(Attempt any THREE Questions)(3 × 10 = 30)
- 18.10
The SS Company's Statement of Profit and Loss account and Statement of Financial Position for two years have been given below: Statement of Profit and Loss for the year 2022ParticularsAmount (Rs.)Revenue from operation1,000,000Less: Cost of sales(650,000)Gross margin350,000Add Other income (including dividend received Rs 21,000)50,000Total400,000Less: Distribution expenses(80,000)Less: Administrative expenses (including depreciation of Rs 75,000 and bad debts of Rs 10,000)(225,000)Operating Profit95,000Less: Finance cost(20,000)Net profit before tax75,000Less: Provision for tax(18,750)Net profit after tax56,250Less: Dividend paid(10,000)Retained Earnings46,250 Statement of Financial Position of a company for 2021 and 2022Assets20212022Non-Current Assets:Property, plant and equipment400,000500,000Goodwill30,00040,000Investments170,000210,000Total Non-Current Assets600,000750,000Current Assets:Inventories/Stock40,00050,000Cash and cash equivalents50,00060,000Account receivables50,00070,000Trade and Other receivables30,00040,000Total Current Assets170,000220,000Fictitious AssetsTotal Assets (Total Non-current and Current Assets)770,000970,000Equity:Share capital @Rs 100 each400,000500,000Reserve/Retained earnings50,00096,250Non-controlling interestsTotal Equity450,000596,250LiabilitiesNon-Current Liabilities:Loans and borrowings100,000200,000Total Non-Current Liabilities100,000200,000Current Liabilities:Trade and other payable180,000155,000Income tax liabilities18,750Provisions40,000Total Current-Liabilities220,000173,750Total Liabilities (Total Non-current and Current)320,000373,750Total Equity and Total Liabilities770,000970,000 Required: Statement of Cash Flow under NFRS
Answer comingAlso asked in 2024
Group D
- 19.
The GG Company's Statement of Profit and Loss account and Statement of Financial Position for two years have been given below: Statement of Profit and Loss for the year 2022ParticularsAmount (Rs)Revenue from operation (including credit sales of Rs 650,000)1,200,000Less: Cost of sales(700,000)Gross margin500,000Add Other income70,000Total570,000Less: Distribution expenses(160,000)Less: Administrative expenses(220,000)Operating Profit190,200Less: Finance cost(30,000)Net profit before tax160,000Less: Provision for tax(40,000)Net profit after tax Statement of Financial Position of a company for 2021 and 2022Assets20212022Non-Current Assets:Property, plant and equipment500,000600,000Intangible Assets80,00040,000Investments70,000100,000Total Non-Current Assets600,000740,000Current Assets:Inventories/Stock40,000Cash and cash equivalents30,00050,000Account receivables40,00070,000Trade and Other receivables60,00030,000Total Current Assets170,000190,000Fictitious AssetsTotal Assets (Total Non-current and Current Assets)770,000930,000Equity:Share capital @Rs 100 each400,000450,000Reserve/Net Profit100,000220,000Non-controlling interestsTotal Equity500,000670,000LiabilitiesNon-Current Liabilities:10% Loans and borrowings150,000200,000Total Non-Current Liabilities150,000200,000Current Liabilities:Trade and other payable100,00020,000Income tax liabilities40,000Provisions20,000Total Current-Liabilities120,00060,000Total Liabilities (Total Non-current and Current)270,000260,000Total Equity and Total Liabilities770,000930,000 Required for 2022: a. Current ratio (2:1) b. Acid test ratio (1:1) c. Debt to total capital ratio (less than 40%) d. Stock turnover ratio (at least 8 times) e. Total assets turnover ratio (more than 1 time) f. Net profit margin (at least 12%) g. Return on equity (at least 7%) h. Return on assets (at least 5%) i. Average sales period (45 days or less than 45 days) j. Account receivable turnover ratio (at least 8 times) k. Comment on the results
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