Sale

B.COM DCM 1103 FUNDAMENTALS OF ACCOUNTING I

175549

B.COM DCM 1103 FUNDAMENTALS OF ACCOUNTING I
Clear
Compare Compare

Description

Description

SESSION Aug – 2023
PROGRAM BACHELOR of Commerce (BCom)
SEMESTER I
course CODE & NAME DCM1103 – Fundamentals of Accounting I
CREDITS 4

 

 

Assignment Set – 1

Questions

 

  1. Ananth is a trader dealing in textiles. For the following transactions, pass journal entries for the month of January, 2018.

Jan. 

  1. Commenced business with cash ₹. 70,000
  2. Purchased goods from X and Co. on credit ₹. 30,000
  3. Cash deposited into bank ₹. 40,000.
  4. Bought a building from L and Co. on credit ₹.95, 000
  5. Cash withdrawn from bank for office use ₹.5, 000

 

  1. A. Explain the different types of cash book.

 

  1. Explain the accounting concepts and conventions.

 

Assignment Set – 2

Questions

  1. XYZ Ltd. maintains a current account with the Syndicate Bank of India. As on 31st March 2006, the bank column of its cashbook showed a debit balance of Rs.20,000. However, the bank statement showed a different balance on that date. The following are the reasons for such a difference:
  2. Cheque deposited but not yet credited by the bank 3,000
  3. Cheque issued but not yet presented 2,000
  4. Bank charges 3,000
  5. Cheques received by the bank directly 7,000
  6. Insurance premium paid by the bank as per standing instructions not yet intimated 2,000

 

Prepare bank reconciliation statement and find out the balance as per the bank statement.

Bank

 

  1. Define Depreciation.

State the Causes of depreciation

Justify why to record the depreciation.

 

  1. Given below are the balances extracted from the books of Nagarajan as on 31st March, 2016.
Particulars Rs. Particulars Rs.
Purchases 10,000 Sales 15,100
Wages 600 Commission received 1,900
Freight inwards 750 Rent received 600
Advertisement 500 Creditors 2,400
Carriage outwards 400 Capital 5,000
Cash 1,200
Machinery 8,000
Debtors 2,250
Bills receivable 300
Stock on 1st January, 2016 1,000
25,000 25,000

 

Prepare the trading and profit and loss account for the year ended 31st March, 2016 and the balance sheet as on that date after adjusting the following:

(a) Commission received in advance Rs. 400

(b) Advertisement paid in advance Rs. 150

(c) Wages outstanding Rs. 200

(d) Closing stock on 31st March 2016, Rs. 2,100

 

 

Additional information

Assignment Type

General, Unique

Reviews

There are no reviews yet.


Be the first to review “B.COM DCM 1103 FUNDAMENTALS OF ACCOUNTING I”

General Inquiries

There are no inquiries yet.