PCO-01 PREPARATORY COURSE IN COMMERCE in English Solved Assignment 2020-2021

PCO-01 PREPARATORY COURSE IN COMMERCE

Solved Assignment 2020-2021

Course Code : PCO-01
Course Title : PREPARATORY COURSE IN COMMERCE
Assignment Code : PCO-01/TMA/2020-21
Coverage : ALL BLOCKS

Q.1 What do you mean by business? Explain the various types of business activities.
Name various parties who assist in the flow of goods from Producer to the
Consumers.
(2,5,3)
Q.2 What do you understand by the Principle of Double Entry? Give the rules of Debit
and Credit with suitable examples. Discuss various stages involved in Accounting
Process.
(2,4,4)
Q.3 Journalize the following transactions, post them into Ledger and prepare a Trial
Balance.
a) Business started with a capital of Rs 4, 00,000
b) Furniture purchased from Rai & Sons on credit Rs. 1, 00,000
c) Payment made to Shaliny & Brothers Rs. 12,000
d) Commission Received from Rajasthan Handlooms Rs. 6,000
e) Goods purchased from Raghuveer & Sons Rs. 5, 00,000
f) Interest paid to Dayal & Sons Rs. 7,000
(4,4,2)
Q.4 Why is journal sub-divided? Name the special journals and state the types of
transactions entered in each of them.
(3,7)
Q.5 State various causes of disagreement between the balances shown by the Cash
Book and Pass Book. Explain the procedure of preparing a Bank Reconciliation
Statement.
(5,5)
Q.6 Distinguish between Cash Basis and Accrual Basis of Accounting with examples.
Briefly explain the accounting concepts to be observed at the time of preparing
Final Accounts.
(5,10)
Q.7 How would you determine whether a particular expenditure is Capital or Revenue?
Give five examples of each. Explain the concept of Deferred Revenue Expenditure
with suitable example.
(10,5)
Q.8 a) What is meant by Provision for Bad Debts and Provision for Discount on
Debtors? Explain their treatment in Final Accounts.
(5,5)
b) What is one- sided errors? Give five examples. Explain the methods of
rectifying one- sided errors.

PCO-01, PCO 01, PCO01, PCO-1, PCO1, PCO 1