ECO-14 Accountancy-II in English SOLVED ASSIGNMENT 2020-2021

ECO-14 Accountancy-II

SOLVED ASSIGNMENT 2020-2021

COURSE CODE : ECO-14
COURSE TITLE : ACCOUNTANCY-II
ASSIGNMENT CODE : ECO-14/TMA/2020-21
COVERAGE : ALL BLOCKS

Attempt all the questions:
1. Explain various systems of maintaining the accounts of a dependent
branch and describe how is profit ascertained under each system?
(20)
2. State the similarities and dissimilarities of Hire Purchase System and
Installment Payment System. Describe the difference between the
accounting treatment under the Hire Purchase System and Installment
Payment System.
(20)
3. What journal entries are passed at the time of revaluation of assets and
liabilities when a new partner is admitted in to the partnership? How
will you work out the new capital of each partner if the capital is to be
adjusted in the new profit sharing ratio? Give examples.
(20)
4. (a)Explain the provisions relating to issue of shares at a discount
under Companies Act. Also explain the procedure of forfeiture of
shares by the company.
(10+10)
(b)Describe the accounting treatment of debentures issued as a
collateral security by the company.
5. What is Cash Flow Statement? How net profit from business is
converted to cash from operations? Describe the uses of Cash Flow
Statement.

ECO-14, ECO-14, ECO 14, ECO 14, ECO14, ECO