Principles of Accounting Midterm Spring 2026 Question Paper

Semester: Fall-2025 Examination: Mid-term Time: 1.5 Hours Course Code: 0411-115 Course Title: Principles of Accounting Section:70-A/70-B/70-C/70-D/70-E/70-F/Retake Teachers' Name: DSFA/MAH/SK/RM/FAH/Tanjila Answer all the Questions Ons. 1: (a) Explain the assumptions of accounting. (b) Describe briefly the following: [CLO 1 and Level 2] [2] [CLO 1 and Level 2] [3] Accounting, Compound entry, Calendar year Ins. 2: On March 1, 2025, Safawat established his consulting firm "Safawat Solution". The following transactions occurred during the month of March: March Safawat invested Tk. 70,000 cash to start the business. March 4 March Purchased equipment of Tk.30,000, paying Tk.18,000 cash and the balance on account. Paid Tk.2,500 for utilities. March March 18 Incurred advertising expense of Tk.500 on account. March Provided services to the customers of Tk.10,000 on account. March 24 Safawat withdrew Tk.3,000 cash for personal use. March 26 Received Tk.7,000 from customers for March 18 services performed. Purchased supplies of Tk.2,000 on account. March 28 March 30 Performed services of Tk.4,000 for cash. Paid Tk.1,000 for rent. Instructions: (i) Examine the above transactions in preparing a tabular summary. [CLO 3 and Level 4] [10] (ii) Use the information of tabular summary in preparing Income Statement, Owner's Equity Statement and Balance Sheet. [CLO 2 and Level 3] [3] Ons. 3: Mr. Rohan started a travel agency "Rohan Travels" on June 1, 2025. During the month of June, the following transactions took place: June 1 June 7 June 13 June 20 Rohan made a cash investment of Tk.90.000 in the business. Purchased furniture of Tk.10,000 on account. Borrowed Tk.6,500 from Prime Bank on a note payable. Paid Tk.4,000 to the account payable. Instructions: (i) Use the transactions in preparing the journal entries. (ii) Use the journal entries in preparing the ledger accounts. (iii) Use the ledger accounts in preparing a trial balance at June 30, 2025. [CLO 2 and Level 3] [3] 13] (1] ***All the Best***