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Assignment 2023 For BPOI-102 (002) (DBPOFA Prog)

This document provides the details of a tutor marked assignment for a fundamentals of accounting course. It includes 4 questions assessing various accounting concepts and skills. Question 1 involves recording transactions in a journal and posting them to a ledger. Question 2 requires preparing a 3 column cash book from financial information provided. Question 3 involves preparing trading and profit & loss account and balance sheet from a trial balance. Question 4 consists of two short notes questions on secret reserves and the difference between a profit & loss account and balance sheet. The last date for submission is also provided, depending on the exam term.

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88 views2 pages

Assignment 2023 For BPOI-102 (002) (DBPOFA Prog)

This document provides the details of a tutor marked assignment for a fundamentals of accounting course. It includes 4 questions assessing various accounting concepts and skills. Question 1 involves recording transactions in a journal and posting them to a ledger. Question 2 requires preparing a 3 column cash book from financial information provided. Question 3 involves preparing trading and profit & loss account and balance sheet from a trial balance. Question 4 consists of two short notes questions on secret reserves and the difference between a profit & loss account and balance sheet. The last date for submission is also provided, depending on the exam term.

Uploaded by

Pawar Computer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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DBPOFA

TUTOR MARKED ASSIGNMENT (2023)


Fundamentals of Accounting
Maximum Marks: 100 Course Code: BPOI – 002/ 102
Weight age: 30% January 2023 session / July 2023 session
Note: This assignment covers all of Course 2. All questions are compulsory.
Marks assigned to the questions have been shown in the bracket.

Q1. (i) Record the following transactions in Journal? (20)


(ii) Post them into Ledger (20)

April 1 Naresh Brothers commenced business with cash 15,000


” 2 Purchased furniture for cash 20,000
” 4 Purchased goods from Vijay & Co. 40,000
” 5 Sold goods 4,500
” 6 Paid rent 2,000
” 8 Sold goods to Arun Brothers 10,000
” 9 Arun Brothers returned goods 500
” 11 Bought goods from Rakesh & Co. 25,000
” 12 Returned goods to Rajesh & Co. 1,000
” 14 Paid for Advertising 2,000
” 15 Paid for Stationery 200
” 18 Drew for personal use 2,000
” 20 Cash Sales 9,000
” 21 Received from Arun Brothers 2,500
” 22 Paid to Vijay & Co. 13,000
” 25 Sold goods to Sugriv & Co. 15,000
” 26 Cash Sales 7,000
” 29 Paid Salaries 6,000
” 30 Paid Municipal taxes 1,000
” 30 Paid Printing Charges 2,000

Q2. From the following particulars of M/s PQR & Co., prepare a Three Column Cash Book

2022 (20)
August 15 Cash in hand Rs 80,000
“ 15 Balance in Bank Account Rs 4, 50,000
“ 16 Cash Sales Rs 4.50,000
“ 17 Purchased goods and issued cash Rs 3, 60,000
“ 18 Received from Shyam 2, 00,000 in cheque, 2, 95,000 in cash in full settlement of
account Rs 5,00,000
“ 20 Cash deposited in bank Rs 6, 10,000
“ 21 Paid Radhey Shyam by cheque, received account in full settlement of
Rs 4, 00,000 Rs 3,95,000
“ 22 Received from Bhawana Rs 1, 79,000
“ 22 Discount Allowed Rs 1,000
“ 24 Cash withdrawn for office purpose Rs 1, 50,000
“ 25 Paid Raghu in Cash Rs 80,000

1
Discount allowed by him Rs 20,000
“ 26 Paid for stationery Rs 40,000
“ 28 Deposited cash in Bank Rs 1, 80,000
“ 30 Cash withdrawn from Bank for personal use Rs 60,000

Q3. Prepare Trading and Profit and Loss account for the year ended 31st Dec, 2021 and Balance
Sheet as on that date from the following Trial Balance: (25)

Dr. (Rs) Cr. (Rs)


Capital 10,000
Cash 1,500
Bank overdraft 2,000
Purchases and Sales 12,000 15,000
Returns 1,000 2,000
Establishment expenses 2,200
Taxes and Insurance 500
Bad debts and Prov. for bad debts 500 700
Debtors and Creditors 5,000 2,000
Commission 500
Deposits 4,000
Opening stock 3,000
Drawings 1,400
Furniture 600
B\R and B\P 3,000 2,500
Total 34,700 34,700

Adjustments:
1. Salaries Rs 100 and taxes Rs 200 are outstanding but insurance Rs 50 is prepaid.
2. Commission Rs 100 is received in advance for next year.
3. Depreciate furniture by 10%.
4. Bad debts provision is to be maintained at Rs 1000.
5. Interest Rs 210 is to be received on deposits and interest on Bank overdraft Rs 300 is to be paid.
6. Stock on 31st December 2021 was Rs 4500.

Q4. Write short notes on the following: (In about 250 -300 words) (7.5+7.5=15)

i. Secret Reserves
ii. Difference between Profit & Loss Account and Balance Sheet

Last Date for Submission of Assignment (or as and when notified by the University)
For June TEE Exam 31st March
For December TEE Exam 30th September

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