Principles of Accounting Final Summer 2025 Question Paper

Faculty of Business & Entreprencurship Semester: Summer-2025 Time: 2 Hours Course Code: 0411-115 Section: 69-A/69-B/69-C/69-D/69-E Examination: Final Full Marks: 40 Course Title: Principles of Accounting Teacher's Name: DSFA/MAH/RM Ansticr all the Questions Ons. 1: (a) Explain different principles of accounting. [CLO 1 and Level 2] 12] (b) Describe briefly the following: [CLO 1 and Level 2] 13] i) Economic entity assumption, ii) Accrued revenue, iii) Compound entry Ons. 2: Malaika Company started operation at July 1, 2024. The trial balance of the company before adjustment was as under: Accounts Title Cash Accounts Receivable Prepaid Insurance Supplies Equipment Notes Payable Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawing Service Revenue Salaries Expenses Unities Expense Travel Expense Rent Expense Malaika Company Trial Balance September 30, 2024 Debit (Tk.) 54,500 6,000 3,600 35.000 Credit (Tk.) 24,000 8.500 6,000 47,000 27,000 Total 1,000 4.600 1,000 2.500 2,000 1.12.500 Additional data: 1.12.500 Insurance expires at the annual rate of Tk.1,800. • A count of supplies shows that 70% of supplies have been used. Depreciation on Equipment is Tk.200 per month. The equipment was purchased on July 1, 2024. • The interest raíe on note payable is 5%. The note was taken out on September 1, 2024. • 60% of unearned service revenue has been earned. Repuirements: (i) Examine the above information in preparing the adjusting entries. (ii) Use the above infornation in preparing the worksheet. (iti) Use the information of worksheet in preparing an Income Statement. [CLO 3 and Level 4] [51 [CLO 2 and Level 3] [10] [CLO 2 and Level 3] [2] (iv) Use the information of worksheet in preparing ain Owner's Eouity Siztement. [CLO 2 and Level 3] 12] (v) Use the information of worksheet in preparing a Classified Beleace Sace. (CLO 2 and Level 3i 11 (vi) Use the information of worksheet in preparing the closing entries. [CLO 2 and Leval 3] [21 1 1000103 •LE 2807821200 100000500 p ...... Ons. 3: In April 2024, Arhaan Store completcd the following merchandising transactions: April 1 April 3 Purchased merchandise on account from Honesty Store of Tk.20,000, terms 2/10, n/30. Sold merchandise on account to Azim Supply of Tk.12,000, terms 1/10, n/40. The cost of the merchandise sold was Tk.7,500. April 8 April 10 April 12 Paid Honesty Store. Received amount from Azim Supply. Sold merchandise for cash of Tk. 6,000. The cost of the merchandise sold was Tk. 3,800. Requirement: Use the above transactions in preparing the journal entries under perpetual inventory [CLO 2 and Level 3] Qus. 4: Mr. Samawat opened his own software firm "Samawat Tech" on October 1, 2024. During October, the following transactions occurred: October 1 Samawat contributed Tk.75,000 as initial investment to start the business. 5 Purchased supplies of Tk.3,000, paying 40% in cash. 9 Incurred advertising expense of Tk.1,500 on account. 12 Performed services of Tk.6,000 on account. 16 Paid Tk.500 for utilities. 25 Received Tk.3,500 cash for services performed on account on October 12. 30 Paid Tk.1,000 for October rent. Requirement: Examine the effects of the above transactions on the accounting equation using the tabular format. [CLO 3 and Level 4] [5] ***All the Best*** 2