DCM1103 ASSIGNMENT
- Subject Code :
DCM1103
- University :
MANIPAL UNIVERSITY JAIPUR Exam Question Bank is not sponsored or endorsed by this college or university.
- Country :
India
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ASSIGNMENT
SESSION |
july-AUGUST 2024 |
PROGRAM |
BACHELOR of COMMERCE (B.COM) |
SEMESTER |
I |
course CODE & NAME |
DCM1103 & fundamentals of accounting I |
CREDITS |
4 |
nUMBER OF ASSIGNMENTS & Marks |
02 30 Marks each |
Note:
- There will be two sets of assignments for every course, and you must answer all questions in both sets. Average of both assignments marks scored by you will be considered as Internal Assessment Marks.
- Answers for 10 marks questions should be approximately of 400-500 words.
Q.No |
Set 1 Questions |
Marks |
Total Marks |
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1. |
Define accounting. Elaborate on the uses of accounting for the various stakeholders like investors etc. |
2+8 |
10 |
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2. |
|
|
10 |
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A |
Journalize the following transactions in the books of Tarun Enterprises. i. Tarun introduced Capital by cheque Rs 25,00,000. ii. Purchased goods on credit from PR Enterprises worth Rs 3,00,000 iii. Sold goods for cash Rs 500,000 iv. Paid salaries to office staff; Rs 400,000 v. Took a loan from HDFC bank Rs 10,00,000. |
5 |
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B |
Write a double column cash book with cash and bank columns from the following transactions
|
5 |
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3. |
Explain the meaning of Trial Balance. Analyze its purpose and limitations, if any. |
2+8 |
10 |
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Q. No |
Set 2 Questions |
Marks |
Total Marks |
|||||||||||||||||||||||||||||
4. |
Explain the terms capital expenditure and revenue expenditure with relevant examples. Also explain the meaning of the term contingent liability. |
8+2
|
10 |
|||||||||||||||||||||||||||||
5. |
On 1st April 2019, Mumbai Enterprises purchased machinery worth Rs.36,000 and spent Rs 4000 on its installation. On 1st October 2019, another machinery costing Rs 20,000 was purchased. On 1st October 2021 machinery bought on 1st April 2019 was sold for Rs 12,000 and new machinery purchased for Rs 64,000 on the same date. Depreciation is provided annually on 31st March @10% per annum on the written down value method. Show the machinery account from the year 2020 to 2022.
|
10 |
10 |
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6. |
a) Differentiate between the trading account and the profit and loss account. |
4 |
10 |
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|
b) Prepare Trading account for the year ended 31st March 2024 from the following balances-
Note- The closing stock as on 31st March 2024 is Rs 20,000. |
6 |
