This document provides information about an assignment solving service called SMUSolvedAssignments. It lists the contact details and pricing for their services. They charge Rs. 125 per subject or Rs. 600 per semester for solved assignments. The document then provides details of 6 assignments for the BBA SEM 2 Winter 2015 course, including questions on revaluation of accounts, preparation of cash books, treatment of goodwill, accounting objectives and preparation of financial statements from trial balances.

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SMU BBA SEM 2 WINTER 2015 ASSIGNMENTS
BBA203
1 X, Y & Z were partners sharing profits and losses as 3:2:1. Their Balance Sheet as on
31.03.2015wereas under:
Liabilities Rs. Assets Rs.
Capital:
A 1,00,000
B 70,000
C 40,000
1,80,000 FreeholdPremises
Building
Machinery
1,00,000
60,000
90,000
Reserves 90,000 Investments 20,000
Cashcredit 30,000 Inventories 30,000
Creditors 20,000 Receivables 30,000
BillsPayable 20,000 Cash 10,000
3,40,000 3,40,000
C expiredon1st April 2015.So,the assetsare revaluedandliabilities re-assessedasfollows:
i) Createa provisionfordoubtful debtRs.1,000.
ii)Buildingisto bedepreciatedby5 %.
iii)Machineryisto bedepreciatedby10 %.
iv) Goodwill ofthefirmis to bevaluedat Rs. 30,000.
The balance due to C will be transferred to his executor’s loan account which will carry an
interest of 10 % p.a. Prepare Revaluation Account, Capital Accounts and the Balance Sheet of
new firmafter adjustments.
2. The Cash Book of Exception Ltd. furnishes the following balances on 25th October 2015.
Cash in hand 4,200; Cash at Bank 7,650; Discount Allowed total 420 and Discount Received
total Rs. 950.
ThefollowingtransactionsoccurredduringlastweekofOctober2015:
April 26: General expensesRs.920paid incash
26 : CashSalesRs. 9,200
27 : A chequeRs. 3,040receivedfroma debtor,K. Ball infull settlement ofRs. 3,200.
27 : A chequesent to supplier,BakerLtd. insettlement of duesRs. 14,000less5 % Discount.
28 : Banknotifiedthat a chequeRs. 2,210 receivedfromMcDermotreturneddishonoured.
30 : An olddeliveryvanwassoldforRs. 71,000anda chequereceived.
30 : A cheque sent to a supplier, Ford Ltd. in immediate payment of an invoice, list price Rs.
8,000, less25% Tradediscountand5 % Cashdiscount.

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Preparea TripleColumnCashBookinthebooksofExceptionLtd.
Based on above Prepare a Triple Column Cash Bookin the books of ExceptionLtd.
3. What do you understand by goodwill? Explain the accounting treatment of goodwill at the
time ofadmission.Give journal entryforthebelowproblem:
T and S are partners in a firm sharing profit in the ratio 5:3. They admitted G as a new
partnerfor 1/4thsharein the profit.
G brings Rs.45,000 for her share of goodwill and Rs.1,20,000 for capital. They have
withdrawn the goodwill from the firm. Make journal entries in the books of the firm after the
admissionofG.
Thenew profitsharingratio will be2:1:1.
Meaning of goodwillwith the formula
Accounting treatment of goodwill at the time of admission
Journal entry in the books of T,S and G (Unit 10)
4. Accounting refers to a systematic knowledge of accounting. It explains ‘why to do’ and
‘how to do’ of various aspects of accounting. Explain the objectives of accounting and explain
the categoriesofusers.
Explanation of accounting objectives
Explanation of categories of users (Unit 1)
5. Prepare Trading, Profit and LossAccount and Balance Sheet from the following particulars
as on31st March2015.
Trial Balance
Particulars Dr. (Rs) Cr. (Rs)
Capital / Drawings 1400 10000
Cashin hand 1500 -
Bankoverdraft@5% - 2000
PurchaseandSales 12000 15000
Returns 1000 2000
Establishmentscharges 2500 -
TaxesandInsurance 500 -
ProvisionforDoubtfulDebts - 1000
BadDebts 500 -
SundryDebtorsand Creditors 5000 1850
Commission - 500
Investments 4000 -
Stockon1 April 2010 3000 -
Furniture 600 -
BillsReceivable&Billspayable 3000 2500
CollectedSalesTax - 150
Total 35000 35000
Further, youare requiredto take into considerationthe followinginformation:
a) SalaryRs.100andtaxes Rs.400are outstandingbutinsuranceRs.50prepaid
b) Commission amounting to Rs.100 has been received in advance for work to be done next
year.
c) Interest accruedoninvestments Rs.210

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d) Provisionfor doubtful Debtsisto be maintainedat 20%
e) Depreciationonfurnitureisto be chargedat 10% p.a.
f) Stockon31st March2015 was valuedat Rs.4,500
g) A fire occurred on 25th March 2015 in the godown and stock of the value of Rs.1,000 was
destroyed.It was fullyinsuredandthe insurancecompanyadmittedthe claimin full.
[Calculation of Trading and P/La/c-5
Preparation of balance sheet-5]
6. From the ledger balances as on 31st March 2015 show treatments in Profit and Loss
Accountand inBalanceSheet.
Debtors : 50,000; Bad Debts : 3,000; Discount Allowed : 2,000; Creditors: 30,000; Provision
forDiscountonCreditors:400;DiscountReceived300.
Adjustments:
i) Createa provisionforBadDebts@10% onDebtors
ii)Create a provisionforDiscountonDebtors@5%
iii)Additional discountgivento DebtorsRs.1,000
iv) Createa provisionfordiscountonCreditors@2%.
From the ledger balances and adjustments as above, show treatments in :
Profitand Loss Accountand Balance Sheet.
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