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Tuesday, 18 August 2020

IGNOU BCA ECO-02 term-end exam notes,upcoming guess papers,important questions free download

IGNOU BCA/MCA all semester new revised (1st semester,2nd semester,3rd semester,4th semester,5th semester and 6th semester) solved assignments,term-end exam notes,study materials,important questions,books/blocks (June-December) free download.
IGNOU BCA ECO-02 term-end exam notes,upcoming guess papers,important questions free download



IGNOU BCA ECO-02 2nd semester Term-End Examination (ACCOUNTANCY-I) books/block,term-end exam notes,upcoming guess paper,important questions,study materials,previous year papers download.

                                                            Notes-1



1. Answer any two of the following :
(a) Name the parties interested in Accounting information and state their basic interests therein.
(b) Explain with example the 'Cost Concept' and 'Dual Aspect Concept'.
(c) "Single entry book-keeping is an incomplete system". Do you agree ? Explain.
(d) Explain the method of valuation of unsold stock for calculating fair profit on consignment.

2. (a) What is Bank Reconciliation Statement ? What are its advantages ?
(b) On 31st Dec. 2012, the Cash Book of Mr. Karamat Ali showed a debit balance of Rs.5,850. Prepare the Bank Reconciliation statement to work out the passbook balance from the following information :
(i) Cheques amounting to Rs.1,350 issued in mid December have not been presented for payment till
31-12-12.
(ii) A cheque of Rs.900 was deposited but it was collected in the first week of January.
(iii) Dividend collected by bank, Rs.390 has not been shown in Cash book.
(iv) Rs.225 deposited by a customer direct in the bank account of the account holder.
(v) Bank charges,Rs.45 appeared only in the pass book.
(vi) A cheque of Rs.120 entered in Cash Book but it was not sent to bank for collection.

3. Prepare Final Accounts from the following Trial Balance which belong to financial year ending on
31st December 2012.



Other Information :
(a) Stock as on 31-12-2012, 13,500
(b) Make a provision for doubtful debts @ 5%
(c) Accrued interest on investment, 1,200
(d) Depreciate Machinery by 10% and Furniture by 10%

4. Ram and Raheem entered into a contract to 12 construct a building for Rs.10,00,000. Ram was
entrusted to maintain joint venture accounts and also to look after the joint venture business. He
was entitled to a commission of 5% on contract price, in addition to a profit in a ratio of 4 : 3.
Raheem paid his share of contribution of Rs.4,00,000. Ram purchased construction material
for Rs.7,25,000 and paid other expenses, Rs.25,000.Ram also contributed material from his own stock worth Rs.40,000. Stock remaining unconsumed was taken over by Raheem for Rs.50,000.
Record the above transactions in the Journal of Ram and show the Joint Venture Account and
Raheem's personal account as the working notes.

5. Comment on any two of the following statements :
(a) Income and Expenditure Account is different from Profit and Loss Account.
(b) Trial Balance is not the conclusive proof a accuracy of books.
(c) Accounting equation is based on Dual concept of Book-keeping.

6. (a) From the following particulars taken from the Cash Book of a club prepare a Receipts
and Payments Account for the year ending 31-3-2013.

(b) Explain the factors that are taken into account while determining the amount of depreciation, and show how its total amount is worked out.

                                                          Notes-2



1. Answer any two of the following :
(a) Distinguish between Single Entry System and Double Entry System of Accounting.
(b) What is the difference between Receipts and Payment Account and Income and Expenditure Account ? Explain.
(c) Explain the concepts of 'Conservatism and 'Consistency' with examples.
(d) State the difference between Capital Expenditure and Revenue Expenditure.

2. (a) What is 'Net Worth' ? How is it computed ? Explain with an example.
(b) What do you understand by Self-Balancing System ? State its advantages.

3. On 1st April, 2013 a firm of Sportswear, Delhi sent a consignment of 500 swimming suits to
M/s Ram Niwas and Sons of Kanpur (consignee) valuing Rs.1,25,000. The consignor incurred an
amount of Rs.1500 in sending the goods to the consignee. At the end of the month, the consignee
sent a statement of sales showing that 400 suits were sold @ Rs.350 per suit and his selling expenses
amounted to Rs.8000. The consignee is entitled for a commission of Rs.25 per suit sold. The unsold
stock is to be valued at cost plus proportionate expenses. The consignee had also spent Rs.500 on
consignment received.You are required to show necessary ledger accounts in the books of the consignor.

4. From the following Ledger Balances extracted from the books of a proprietor as on 31st March,
2013 prepare the Trading and Profit and Loss Account for the year ending on 31-03-2013 and
also the Balance Sheet after taking into account the following additional information :



Additional Information :
(a) Unsold stock on 31-3-2013, Z 1,75,000.
(b) Depreciate : Plant and Machinery @ 15% Furniture and Fixtures @ 15%.
(c) Provide Bad debt Reserve @ 5%.
(d) Outstanding Rent, 13,000.

5. On January 1, 2010, a firm purchased a Machine for Rs.75,000 and spent Rs.5,000 on its erection. On 1st July, the same year, a second machine was purchased for Rs.40,000. On 1st July 2011, the firm sold the machine which had been purchased on 1-1-2010, for Rs.55,000.
On July 1, 2012, a new plant costing Rs.60,000 was added and the machinery purchased on 1st July 2010 was disposed off for Rs.30,000.Firm charges depreciation annually @ 10% on fixed instalment basis. Prepare Machinery Account for 3-years showing balance as it would appear on 1-1-2013.

6. Write short notes on any two of the following :
(a) Joint Venture as a temporary partnership.
(b) Secret reserves.
(c) Selection of a method of charging depreciation.
(d) Types of Assets.

IGNOU BCA ECO-02 2nd semester Term-End Examination (ACCOUNTANCY-I) term-end exam notes Download     

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