BCOC-131 EM 2024-25 SOLVED ASSIGNMENT

Description

TUTOR MARKED ASSIGNMENT
COURSE CODE : BCOC-131
COURSE TITLE : FINANCIAL ACCOUNTING
ASSIGNMENT CODE : BCOC-131/TMA/2024-25
COVERAGE : ALL BLOCKS
Maximum Marks: 100
Note: Attempt all the questions.
Section-A
(Attempt all the questions. Each question carries 10 marks.)
Q.1 Explain the objectives of Accounting and briefly describe the qualitative
characteristics of accounting information.
(10)
Q.2 What do you mean by principle of double entry? Give the rules of debit and
credit with suitable examples.
(10)
Q.3 What is meant by convergence to IFRS? Explain and distinguish between Indian
AS and International AS.
(10)
Q.4 What is a trial Balance? Explain the causes for disagreement of a Trial Balance. (10)
Q.5 Describe the methods of recording depreciation in the books of account. How is
the balance of the provisions for depreciation account shown in the Balance
Sheet?
(10)
Section-B
(Attempt all the questions. Each question carries 6 marks.)
Q.6 Give closing entries for Trading and Profit and Loss account. (6)
Q.7 Provide the accounting treatment of adjustments in the final accounts for the
following:
a) Income received in advance
b) Provision for discount on debtors
(6)
Q.8 Explain the steps involved in order to calculate the interest when total cash price
of instalments are given.
(6)
Q.9 State the journal entries to be passed in order to open various accounts under
Stock and Debtor system applicable in case of hire purchase business.
(6)
Q.10 Name the systems of maintaining the accounts of a dependent branch and describe
how profit is ascertained under each system.
(6)
Section-C
4
(Attempt all the questions. Each question carries 10 marks.)
Q.11 Briefly explain various methods of recording the joint venture transactions without
maintaining separate set of books.
(10)
Q.12 Write short notes on the following:
a) Ledger creation
b) Creating invoices