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BCOC-131 Financial Accounting in English Solved Assignment 2019-2020

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COURSE CODE : BCOC-131
COURSE TITLE : FINANCIAL ACCOUNTING
ASSIGNMENT CODE : BCOC-131/TMA/2019-20
COVERAGE : ALL BLOCKS

NOTE: SECTION-A,B AND C All are available

SKU: BCOC-131 EM Categories: , , ,

Description

BCOC-131 Financial Accounting

Solved Assignment 2019-2020

COURSE CODE : BCOC-131
COURSE TITLE : FINANCIAL ACCOUNTING
ASSIGNMENT CODE : BCOC-131/TMA/2019-20
COVERAGE : ALL BLOCKS

Title Name BCOC-131 Solved Assignment 2019-20
University IGNOU
Service Type Solved Assignment (Soft copy/PDF)
Course BCOMG
Language ENGLISH
Semester 2019-2020 Course: B.Com(G) CBCS
Session 2019-20
Short Name BCOC-131 (ENGLISH)
Assignment Code BCOC-131/TMA/2019-20
Product Assignment of BCOMG 2019-2020 (IGNOU)
Submission Date You have to submit the assignment of all the courses to the Coordinator of your Study Centre. For appearing in June Term-End Examination, you must submit assignment to the Coordinator of your study centre latest by 15th March. Similarly for appearing in December Term-End Examination, you must submit assignments to the Coordinator of your study centre latest by 15th September.
Price RS. 80

Attempt all the questions
SECTION-A
Note: Attempt all the questions. Each question carries 10 marks.
Q.1 Journalise the following transactions. Post them into ledger and prepare a Trial
balance.
a) Business started with a capital of Rs 8,00,000
b) Furniture purchased in cash from Jai Rs. 38,000
c) Payment made to Raman Rs. 5,000
d) Commission Received from Suresh Rs. 2,000
e) Goods purchased from Ramlal Rs. 7,00,000
f) Rent paid to Anil Rs. 3,000
10
Q.2 Dinesh Ltd. on 1st
April 2015, purchased a machine from Rajesh Ltd. on hire
purchase basis. The cash price of the machine was Rs 25,000. The payment
was to be made Rs 5,000 on the date of the contract and the balance in four
annual instalments of Rs. 5,000 each plus interest at 5% per annum payable on
December 31st each year, and the first such instalment being payable on 31.12.
2015. Depreciation is to be charged @ 10% on original cost.
Make necessary ledger accounts in the books of Hire Purchaser.
10
Q.3 Modi textiles, Delhi consigned to Vinod Enterprises, Calcutta 100 cotton
bales. The invoice price of each bale was Rs 1,500 each which includes 20%
profit on invoice price. The consignor paid Rs. 2,500 for insurance and Rs
4,000 for carriage and freight. The consignee received cotton bales and sold 75
bales for cash and realised Rs 1, 12, 500. He incurred Rs 1,800 on godown rent
and was allowed 10% commission on sales. 5 cotton bales were spoiled in
godown and they are to be valued at 50% depreciation. Show consignment
account in the books of Modi Textiles.
10
Q.4 The Trial Balance prepared by Dhanraj did not tally and the difference was
transferred to Suspense Account. Subsequently, the following errors were
found. Rectify the errors and show the suspense Account.
a) A sale of Rs. 1, 600 to Kamalnath was posted to Karunanath.
10
b) Insurance paid amounting to Rs 250 was posted twice.
c) A sale of Rs 1,500 for old machinery was passed through the sale book.
d) A purchase of Rs. 600 from Kamesh was not passed through the books.
e) Rs. 80, the debit balance on commission account was omitted from the trial
balance.
f) The purchase returns book was undercast by Rs 700.
Q.5 Define Computerized Accounting. Explain the advantages and disadvantages
of Computerised Accounting System.
10
SECTION-B
Note: Attempt all the questions. Each question carries 6 marks.
Q.6 Briefly explain the qualitative Characteristics of accounting information. 6
Q.7 What is a journal proper? List the transactions recorded in the journal proper. 6
Q.8 Discuss the factors that must be taken into consideration for determining the
amount of depreciation.
6
Q.9 What are the salient features of joint ventures? Explain 6
Q.10 What are post dated vouchers? Explain the uses of post dated vouchers. 6

SECTION-C
Note: Attempt all the questions. Each question carries 10 marks.
Q.11 Distinguish Between the following:
(a) Cash Basis and Accrual Basis of Accounting.
(b) Trading Account and Manufacturing Account.
10
Q.12 Write short notes on the following:
(a) Imprest System of maintaining Petty Cash Book.
(b) Preparation of Report.

BCOC-131, BCOC 131, BCOC131

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