ECO 02 Solved Assignment 2022-23

 

ECO 02 Solved Assignment 2022-23

ACCOUNTANCY-I

COURSE CODE : ECO 02

COURSE TITLE : ACCOUNTANCY-I

ASSIGNMENT CODE : ECO 02/TMA/2022-23

Maximum Marks: 100

Attempt all the questions:

1. (a) “Ledger is said to be the principal book of entry and the transactions can even be directly entered into the ledger account.” Elaborate on the statement and explain why Joumal is necessary.

10

(b) What is the purpose of noting on the bill? Is it necessary in case of a promissory note?

10

2. Why is distinction between capital and revenue important? Give examples to show , how wrong classification can affect the ascertainment of profit.

20

3. X of Bangalore consigned 100 bags of cement for sale to his agent Y. Cost price of each bag is Rs. 120. 'X' immediately drew a 4 months bill for Rs. 5,090 on the latter and discounted it with bank at 6% per annum. 'X' paid Rs. 800 on packing and Rs, 250 for carriage. 'Y' spent Rs. 300 as selling expenses. The consignee returned 5 bags. He realised 20 bags at Rs. 130 per bag and 50 bags on credit at Rs. 140 per bag and took the balance in his own stock at Rs. 135 per bag. Consignee is entitled to get commission of 3% and 2% del credre commission on credit sales. 'Y' recovered all money from debtors except Rs. 500. Prepare the necessary ledger accounts in the books of both parties.

20

4. What is Sectional Balancing? How does it differ from Self-balancing? Give proforma of a Total Debtors Account.

20

5. Differentiate between the following:

20

(a) Trading Account and Manufacturing Account

(b) Non-recurring and Recurring Expenses

ECO 02 Solved Assignment 2022-23 : All assignments are in PDF format which would be send on email/WhatsApp (7827967728) just after payment.

POST GRADUATE DIPLOMA IN AUDIO PROGRAMME PRODUCTION Bachelor’s Degree Programmes (B.COM) ASSIGNMENTS

Dear Learner,

You have to submit one assignment in each course, i.e. ECO 02. All these are Tutor Marked Assignments (TMAs). Before attempting the assignments, please read the instructions provided in the Programme Guide carefully.

Kindly note, you have to submit these assignments to the Coordinator of your Study Centre within the stipulated time for being eligible to appear in the term-end examination. You must mention your Enrolment Number, Name, Address, Assignment Code and Study Centre Code on the first page of the assignment. You must obtain a receipt from the Study Centre for the assignments submitted and retain it. Keep photocopies of the assignments with you.

After evaluation, the assignments have to be returned to you by the Study Centre. Please insist on this and keep a record with you. The marks obtained by you will be sent by the Study Centre to the Student Evaluation Division at IGNOU, New Delhi.

Guidelines for Doing Assignments

There are five questions in each assignment, all carry equal marks. Attempt all the questions in not more than 500 words (each). You will find it useful to keep the following points in mind:

Planning: Read the assignments carefully. Go through the units on which they are based, make some points regarding each question and then rearrange them in a logical order

Organization and Presentation: Be analytical in your selection of the information for your answer. Give adequate attention to the introduction and the conclusion. Make sure that your answer is logical and coherent; has a proper flow of information.

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