ACM (AC) 2021 | Saiful's Classroom

BANGLADESH UNIVERSITY OF TEXTILES

Level-3 Term-I, Final Exám-2021
Subject: Accounting & Cost Management (Code: TEM 303)

Time: 3.0 Hrs. Full Marks: 72
(Use separate answer script for Part: A and Part: B)

(All parts of a question must be answered consecutively)

Part: A
(Answer any three questions)

1. ⁢(a) Identify the users and uses of accounting.

(b) Define the terms assets, liabilities and stockholders’ equity.

[4+5+3 = 12]

2. Mr. Shamim started a delivery service, Shamim Deliveries, on June 1, 2021. The following transactions occurred during the month of June:

Date	Transaction
June 1	Mr. Shamim invested Tk. 10,000 cash to start this business.
June 2	Purchased a used van for deliveries for Tk. 14,000. Shamim paid Tk. 2,000 cash and signed a note payable for the remaining balance.
June 3	Paid Tk. 500 for office rent for the month.
June 5	Performed Tk. 4,800 of services on account.
June 9	Withdrew Tk. 300 cash for personal use.
June 12	Purchased supplies for Tk. 150 on account.
June 15	Received a cash payment of Tk. 1,250 for services provided on June 5.
June 17	Purchased gasoline for Tk. 100 on account.
June 20	Received a cash payment of Tk. 1500 for services provided.
June 23	Made cash payment of Tk. 500 on the note payable.
June 26	Paid Tk. 250 for utilities.
June 29	Paid for gasoline purchased on account on June 17.
June 30	Paid Tk. 1,000 for employee salaries.

Journalize the June transactions.

[12]

3. (a) State the accounting equation with company’s

(b) Sayem transport, Pabna, established Kamal travel agency, on January, 2021.

The following Transactions were completed during the month.

January 1	Invested Tk 1,50,000 cash to start the agency.
January 2	Paid Tk 6,000 cash for April Office Rent.
January 3