BCOC-131 EM 2026-27 SOLVED ASSIGNMENT

Description

TUTOR MARKED ASSIGNMENT
COURSE CODE: BCOC-131
COURSE TITLE: FINANCIAL ACCOUNTING
ASSIGNMENT CODE : BCOC-131/TMA/2026-27
ALL BLOCKS Note: Attempt all the questions. Maximum Marks: 100 Section-A (Attempt all the questions. Each question carries 10 marks.)
Q.1 Describe the advantages and limitations of accounting.
2.What is a Journal Proper? List the transactions recorded in the Journal Proper.
3.What are the merits and demerits of written down value method?
4. Distinguish it from the straight-line method. What are the rights of a hire vendor in case of default and the rights of hirer in case of seizure and repossession of goods under the Hire Purchase Act, 1972?
5.Explain the separate set of books method for maintaining joint venture accounts.
Section-B (Attempt all the questions. Each question carries 6 marks.)
6.Describe the procedure of issuing Accounting Standards in India.
7.Explain the rules regarding posting of journal entries into ledger accounts.
8.Why some adjustments become necessary at the time of preparing the final accounts? Name any two items of adjustment and explain how they are shown in the final accounts?
9. Name the three systems of maintaining the accounts of a dependent branch, and describe how profit is ascertained under each system.
Q.10 Name items which are recorded at the invoice price in the Consignment Account. Give journal entries passed for the adjustment of loading in respect of each item.
Section-C (Attempt all the questions. Each question carries 10 marks.)
Q.11 Define voucher and discuss different types of vouchers.
Q.12 Write short notes on the following: a) Conservatism b) Errors of Omission c) Purchase Register d) Computerised Accounting System e) Group in Tally