The Indira Gandhi National Open University (IGNOU) assignment system is an essential component of the institution’s distance learning strategy.
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Assignments are a required component of IGNOU courses. Students have a responsibility to submit assignments for each course in which they are enrolled, usually by a particular time limit.
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Assignments frequently consist of a series of questions or assignments related to the course material. These questions may ask students to , solve problems, compose essays, or undertake research.
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Course Code : ECO-02
Course Title : Accountancy-1
Assignment Number : BCA (II)/02/Assignment/2023-24
Maximum Marks : 100
Weightage : 25%
Last Dates for Submission : 31st October, 2023 (For July Session)
: 30th April, 2024 (For January Session)
There are six questions in this assignment which carried 100 marks. Answer all the
questions. Please go through the guidelines regarding assignments given in the Program
Guide for the format of presentation.
Attempt all the questions:
Q1. Define accounting and explain its scope, objectives advantages and limitations.
Q2. Write about the Bank Reconciniation Statement, what are the main causes of difference.
Q3. Write notes on the following concepts:
a) Going Concern Concept
b) Conservatism
c) Consistency
d) Materiality
Q4. Sohan drew on Mohan a bill for Rs. 1,500 for 3 months on June 1, 2023. The bill was endorsed to
Rohan. On July 15, Mohan approaches Sohan to renew the bill for a period of tree months and
charges Rs. As interest. Sohan agress to renew the bill. Mohan pays the amount of interest in cash
and accepts a new bill for Rs. 1,500. The bill is honoured on the due date. Record these
transactions in the books of various parties.
Q5. From the following figures prepare Trading and Profit and Loss Account of Lakshmi & Co. for
the year ended December 31, 1987. ]
Rs.
Stock on January 1, 1987 40,000
Purchases 98,000
Commission Received 650
Rent, Rates and Taxes 8,600
Salaries & Wages 12,000
Sales 1,62,100
Returns Inwards 2,400
Returns Outwards 3,000
Sunday Expenses 2,500
Bank Charges 50
Discount Received 750
Carriage on Purchases 2,000
Discount Allowed 530
Carriage on Sales 1,700
Lighting and Heating 2,200
Postage 300
Income from Investments 500
Commission Paid 1,000
Interest paid on a bank loan 550
The stock on December 31, 1987 was valued at Rs. 26,000.
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