TUTOR MARKED ASSIGNMENT

Course Code : PCO - 01

Course Title : Preparatory Course in Commerce

Assignment Code : PCO - 01/TMA/2015-16

Coverage : All Blocks

Maximum Marks: 100

Attempt all the questions.

1. What do you mean by business? Explain various forms of business organisation. 

2. (a) What do you understand by ‘Accounting Equation? Give suitable illustrations

(b) What is meant by ‘Books of Original Entry’? Discuss the rules of journalizing the business transactions with the help of examples.

 3. Prepare a Bank Reconciliation Statement from the following particulars on 31st March 2014: Rs.

(a) Debit Balance as per bank column of the Cash Book 3,72,000

(b) Cheque issued to creditors, but not yet presented to the bank for payment 72,000

(c) Dividend received by the bank, but not entered in the Cash Book 5,000

(d) Interest allowed by the Bank 1,250

(e) Cheque deposited into bank for collection, but not collected by bank up to this date 15,400

(f) Bank Charges 200

(g) A Cheque deposited into bank was dishonored, but no intimation received 320

(h) Bank paid House tax on our behalf, but no information received from bank in this connection. 350

 4. What are the rectifying entries? How are two sided and one sided errors rectified? Explain with examples.

 5. (a) Distinguish between Capital Expenditure and Revenue Expenditure.

(b) Write short notes on the following:

(i) Provision for Doubtful Debts

(ii) Accrued Income