Wed. Apr 24th, 2024

ECO-02 Solved Assignment 2023-24

ECO-02 Solved Assignment 2023-24

Course Code

ECO-02

Course Title Accountancy-1
Assignment Number BCA (II)/02/Assignment/2023-24
Maximum Marks 100
Weightage
25%
Last Dates for Submission 31 st October, 2023 (For July Session)

30 th April, 2024 (For January Session

Note: There are six questions in this assignment which carried 100 marks. Answer all the questions. Please go through the guidelines regarding assignments given in the Program Guide for the format of presentation.

 

Attempt all the questions:

Q1. Define accounting and explain its scope, objectives advantages and limitations. 

Q2. Write about the Bank Reconciniation Statement, what are the main causes of difference. 

Q3. Write notes on the following concepts: 

a) Going Concern Concept

b) Conservatism

c) Consistency

d) Materiality

Q4. Sohan drew on Mohan a bill for Rs. 1,500 for 3 months on June 1, 2023. The bill was endorsed to Rohan. On July 15, Mohan approaches Sohan to renew the bill for a period of tree months and charges Rs. As interest. Sohan agress to renew the bill. Mohan pays the amount of interest in cash and accepts a new bill for Rs. 1,500. The bill is honoured on the due date. Record these transactions in the books of various parties. 

Q5. From the following figures prepare Trading and Profit and Loss Account of Lakshmi & Co. for the year ended December 31, 1987. 

Rs.
Stock on January 1, 1987 40,000
Purchases 98,000
Commission Received 650
Rent, Rates and Taxes 8,600
Salaries & Wages 12,000
Sales 1,62,100
Returns Inwards 2,400
Returns Outwards 3,000
Sunday Expenses 2,500
Bank Charges 50
Discount Received 750
Carriage on Purchases 2,000
Discount Allowed 530
Carriage on Sales 1,700
Lighting and Heating 2,200
Postage 300
Income from Investments
500
Commission Paid 1,000
Interest paid on a bank loan 550

 The stock on December 31, 1987 was valued at Rs. 26,000

 

ECO-02 Solved Assignment 2023-24

Thank You

ECO-02 Solved Assignment 2023-24,ECO-02 Solved Assignment 2023-24

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