ADC/B.Com-I: Solved Papers Accounting

The paper pattern of B.Com Part – I Accounting is simple, There is no section in the paper. Students are required to attempt any five (5) questions out of eight (8) questions. The syllabus consist of the following topics:

• INTRODUCTION TO ACCOUNTING (Heads of Accounts, Rules of Debit and Credit, General Journal, General Ledger & Trial Balance)
• SPECIAL JOURNALS (Sales Journal, Sales Return and Allowance Journal, Purchase Journal, Purchase Return and Allowance Journal, Cash Receipt Journal, Cash Payment Journal)
• BANK RECONCILIATION STATEMENT (Bank Reconciliation Statement with normal balance, Bank Reconciliation Statement with overdraft balance, Adjusting entries)
• CORRECTION OF ERRORS (Before closing books of accounts, After closing books of accounts)
• ADJUSTING ENTRIES (Merchandise inventory, Depreciation, Bad Debts (Balance Sheet Approach and Income Statement Approach), Accrued Expense, Accrued Income, Prepaid Initially Recorded as Asset, Prepaid Initially Recorded as Expense, Unearned Initially Recorded as Liability, Unearned Initially Recorded as Income)
• FINANCIAL STATEMENTS (Income Statement, Balance Sheet)
• TEN COLUMN WORKSHEET
• CLOSING AND REVERSING ENTRIES
• ACCOUNTING FOR DEPRECIATION (Cost of Fixed Asset, Entries to Purchase Fixed Asset, Methods of Depreciation Including Straight Line Method, Units Production Method, Working Hours Method, Diminishing Balance Method, Sum of the Year’s Digit Method, Adjusting & Closing Entries of Depreciation, T-Accounts, Partial Balance Sheet, Disposal of Fixed Asset, Revised Depreciation)
• PARTNERSHIP FORMATION (General Journal Entries, Initial Balance Sheet)
• PARTNERSHIP DISTRIBUTION OF PROFIT AND LOSS (Income Distribution Summary, General Journal Entries, T-Accounts using Fixed Capital Method & Fluctuating Capital Method)
• PARTNERSHIP LIQUIDATION (Liquidation Summary, General Journal Entries, T-Accounts)
• PARTNERSHIP RETIREMENT (Sell of Interest Method, Bonus Method, Goodwill Method, Revaluation Method)
• PARTNERSHIP ADMISSION (Purchase of Interest Method, Bonus Method, Goodwill Method, Sufficient Cash Method, Mix Method, revaluation Method)
• INVENTORY VALUATION (Perpetual Inventory System, Periodic Inventory System, FIFO Method, LIFO Method, Average Method, Gross Profit Method, Retail Price Method, Lower of Cost or Market Method, General Journal Entries)
• VALUATION OF ACCOUNTS RECEIVABLE (Income Statement Approach and Balance Sheet Approach, General and Adjusting Entries, T-Accounts, Partial Balance Sheet)
• VOUCHER SYSTEM

Later, some changes were made by University of Karachi in the above syllabus like:

• SPECIAL JOURNALS was removed.
• Lower of Cost and Market Method of INVENTORY VALUATION was removed.