IGNOU ECO 2 SOLVED ASSIGNMENT

Ques 1.

What is Bank Reconciliation Statement? State the various causes of disagreement between the balance shown by the Cash Book and the Pass Book? Explain how BRS is prepared with an adjusted balance of cash book?

Ques 2.

 Give journal entries for the following adjustments and also explain the accounting treatment of these adjustments while preparing the Final Accounts of an Enterprise?

a) Outstanding Expenses Rs. 7000

b) Interest on Capital Rs. 5000

c) Provision for Bad & Doubtful debts Rs. 6000

d) Loss of Goods by theft Rs. 6,000

e) Drawing of Goods by the Proprietor Rs. 11000

Ques 3.

"Consignment is the same thing as Sale". Discuss.

Ques 4.

"Joint Venture is a temporary partnership". Comment and explain how is it different from Partnership.

Ques 5.

Discuss the drawbacks of Single Entry System of Accounting. Explain two methods of ascertaining profit when accounting records are incomplete.

Ques 6.

'Receipts and Payments Account' and 'Cash Book'

Ques 7.

'Income & Expenditure Account' and 'Profit & Loss Account'

Ques 8.

What is Bank Reconciliation Statement? State the various causes of disagreement between the balance shown by the Cash Book and the Pass Book? Explain how BRS is prepared with an adjusted balance of cash book?

Ques 9.

 Give journal entries for the following adjustments and also explain the accounting treatment of these adjustments while preparing the Final Accounts of an Enterprise?

a) Outstanding Expenses Rs. 7000

b) Interest on Capital Rs. 5000

c) Provision for Bad & Doubtful debts Rs. 6000

d) Loss of Goods by theft Rs. 6,000

e) Drawing of Goods by the Proprietor Rs. 11000

Ques 10.

"Consignment is the same thing as Sale". Discuss.

Ques 11.

"Joint Venture is a temporary partnership". Comment and explain how is it different from Partnership.

Ques 12.

Discuss the drawbacks of Single Entry System of Accounting. Explain two methods of ascertaining profit when accounting records are incomplete.

Ques 13.

'Receipts and Payments Account' and 'Cash Book'

Ques 14.

'Income & Expenditure Account' and 'Profit & Loss Account'

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