BCOC
131 Solved Assignment 2021-22
COURSE CODE : BCOC 131
COURSE TITLE :
FINANCIAL ACCOUNTING
ASSIGNMENT CODE :
BCOC 131/TMA/2021-22
COVERAGE : ALL BLOCKS
Maximum Marks: 100
BCOC 131 Solved
Assignment 2021-22 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
Note: Attempt all the Sections.
SECTION-A
Attempt
all the questions. Each question carries 10 marks.
(5x10=50)
1.
Journalize the following transactions, Post them into ledger and prepare a
Trial balance.
a)
Business started with a capital of Rs 5,00,000
b)
Furniture purchased from Jai sons on credit Rs. 2,00,000
c)
Payment made to Silky brothers Rs. 10,000
d)
Commission Received from Haryana Automobiles Rs. 8,000
e) Goods
purchased from Ramlal and Sons Rs. 6,00,000
f)
Interest paid to Ghanshyam and Sons Rs. 6,000
2. On
1st April 2016, Chaudhary Harpal Singh purchased a Tractor of the cash price of
Rs. 2,20,000 on hire-purchase system from Escorts Ltd. Rs. 20,000 were paid
immediately and the balance in 4 annual instalments of Rs. 50,000 each with
interest at 8% per annum. The depreciation is to be charged at 10% p.a. on
written down value method. Harpal Singh paid 2 instalments and failed to pay
the third instalment. Escorts Ltd. took away the tractor by paying him Rs.
90,000 in cash. Make necessary ledger accounts in the books of Harpal Singh.
Books are closed on 31st March every year.
3. Oswal
Mills Barnala consigned 5000 kg of vanaspati ghee to Rajendra Dealers of
Panipat. Each kg. Ghee costs Rs. 8. Oswal Mills paid Rs. 50 for carriage, Rs.
250 for freight and Rs. 200 for insurance in transit. During transit 500 kg.
Ghee was accidentally destroyed for which insurance company paid directly to
the consignor Rs. 2500 in full settlement of the claim. After 3 month from the
date of consignment of goods to Panipat, Rajendra Dealers reported that 1500
kg. Ghee was sold at Rs. 9.5 per kg. The expenses were: On Godown Rent Rs. 500,
On Salesman Salary Rs. 700. Rajendra dealers are entitled to a commission of 5%
on sales. Due to leakage, Rajendra Dealers also reported a loss of 20 kg. Ghee.
Prepare consignment account and abnormal loss account in the books of the
Consignor.
4. An
Accountant finds the difference in the Trial Balance amounting to Rs. 210 and
put it in the Suspense Account. Later on he detects the following errors.
Rectify the errors and prepare the suspense Account.
a) Goods
purchased from Ram Rs. 700 were passed through sales book.
b)
Returned Goods to Shyam Rs. 1500 was passed through returns inward book.
c) An
item of Rs. 450 relating to prepaid rent account was omitted to brought
forward.
d) An
item of Rs. 120 in respect of purchase returns, instead of being recorded in
Returns Outward book has been wrongly entered in the purchase book and posted
therefrom to the debit of personal account.
e)
Amount payable to Subhash for repairs done to Radio Rs. 180 and a new Radio
supplied for Rs. 1920 were entered in the Purchase book as Rs. 2000.
5.
Define Computerized Accounting and distinguish between manual and computerized
accounting system.
SECTION-B
Attempt
all the questions. Each question carries 5 marks.
(6x5=30)
6. State
the essentials features of a joint Venture.
7. What
are the main causes of disagreement of a Trial Balance? Briefly explain.
8. State
the factors affecting the amount of depreciation.
9.
Explain the uses of post dated vouchers.
10. What
are the different types of branches? Explain the need for branch accounting.
11.
Briefly explain the benefits of Accounting Standards.
SECTION-C
Attempt
all the questions. Each question carries 10 marks.
(2x10=20)
12.
Distinguish between the following:
a) Cost
of Goods Sold and Cost of Goods Produced
b)
Profit and Loss Account and Balance Sheet
13.
Write short notes on the following:
a)
Systems of Book-keeping
b)
International Financial Reporting Standards (IFRS)
BCOC 131 Solved Assignment 2021-22, BCOC 131 Solved
Assignment 2021-22 , BCOC 131 Solved Assignment 2021-22, BCOC 131
Assignment, IGNOU Assignment BCOC 131021-22- Gandhi National
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BCOC 131 Solved
Assignment 2021-22 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
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students who had successfully submitted their Assignments to their allocated
study centers can now check their Assignment Status. Alongside --assignment
status, they will also checkout their assignment marks & result. All this
is often available in a web mode. After submitting the assignment, you'll check
you BCOC 131 Solved Assignment 2021-22 only after 3-4 weeks. BCOC 131 Solved
Assignment 2021-22 it'd take 40 days to declare BCOC 131 Solved Assignment
2021-22
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