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Advanced Financial Accounting B.Com Part 2 Past Paper 2021 Punjab University

Advanced Financial Accounting B.Com Part 2 Past Paper Punjab University


B.Com Part 2 is a bachelor of commerce 2-year undergraduate program and some universities 3 years full-time study program and students learn in this book about accounting, marketing, Law, Statics, finance, and more. Many students think this B.Com is not good and low demand for Pakistani students but we want to tell you that any degree is no low demand or less demand many cases low demand degree get benefits in many fields so students don't aks to any degrees such words. This B.Com is highly demanding in many fields as finance, marketing and accounting, and also more. But this post is not about comparing any degree all degrees are good for the future but need understand and concentration on it then you will get benefits in all life from it. Many universities in Pakistan where you can get admission for B.Com. So now we talk to because you can read any other post on this comparison or demand degree program. For more please read B.Com.

B Com Past 2 (Subject) Book List

  • Advance Financial Accounting
  • Auditing
  • Business Communication and report writing
  • Business Law 
  • Business Taxation
  • Cost Accounting
  • Economics of Pakistan


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Advanced Financial Accounting B.Com Part 2 Past Paper Punjab University

Question:1

Bilal transport limited purchased from Hino motors 3 trucks costing Rs. 50000 each on the hire purchase system. The payment was to be made Rs 30000 down and the remainder in three equal installments together with interest at 9%. Bilal transport limited writes off depreciation 20% on diminishing balance method. It paid the installment due at the end of the first year but could not pay the next. Hino motors agreed to leave one truck with the purchaser adjusting the value of the other two trucks against the amount due. The truck was valued on the basis of 30% depreciation annually.

Required: show the necessary accounts in the books of Bilal transport limited for 2 years.

Question:2

Mr. Nouman has invested a sum of Rs. 200000 in his own business which is a very profitable one. The annual profit earned from his business is Rs. 45000 which includes a sum of Rs. 10000 received as compensation for a part of his business premises.

As an alternative to his engagement in his business, he could have invented the money in long-term deposits with the bank earning a normal rate of interest of 10% and could engage himself in employment thereby getting an annual salary income of Rs.7200.


Required: considering 2% as fair compensation for the risk involved in the business calculate the value of goodwill of his business on capitalization of super-profits at the normal rate of interest.

    MGT301 Current Final Term Papers 2021

    Question:3

    X limited forwarded on 1st January 2020, 200 plastic chairs to Y limited to be sold on behalf of X limited. The cost of one chair was Rs.500 but the invoice price was Rs. 600. X limited incurred Rs.1000 on freight and insurance and. received Rs.20000 as advance from Y Limited. Y limited paid Rs.1000 as octroi and carriage Rs.800 as rent and Rs 600 as insurance and by 30th June 2020 had sold 160 chairs for Rs 50000 Y limited is entitled to a commission on the sale at 10% on proforma invoice price and 25% of any surplus price realized Y limited remitted the amount due from them by a bank draft.

    Required: give journal entries to record the above transaction and show necessary ledger accounts in the books of the consignor.


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    Advanced Financial Accounting B.Com Part 2 Past Paper Punjab University

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    Advanced Financial Accounting B.Com Part 2 Past Paper 2021 Punjab University

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    Advanced Financial Accounting B.Com Part 2 Past Paper 2021 Punjab University

    Advanced Financial Accounting B.Com Part 2 Past Paper 2021 Punjab University


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