IGNOU BCOC 131 Solved Assignment 2023 2024

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Rs. 50

IGNOU BCOC 131 Financial Accounting Solved Assignment 2023 2024

~~Rs.~~
Rs. 50

Last Date of Submission of IGNOU BCOC-131 (B.Com(G) CBCS) 2023-24 Assignment is for January 2023 Session: 30th September, 2023 (for December 2023 Term End Exam).
Semester Wise
January 2023 Session: 30th March, 2024 (for June 2024 Term End Exam).
July 2023 Session: 30th September, 2023 (for December 2023 Term End Exam).

Title Name	IGNOU BCOC 131 Financial Accounting Solved Assignment 2023 2024
Type	Soft Copy (E-Assignment) .pdf
University	IGNOU
Degree	BACHELOR DEGREE PROGRAMMES
Course Code	B.Com(G) CBCS
Course Name	BACHELOR IN COMMERCE CHOICE BASED CREDIT SYSTEM
Subject Code	BCOC 131
Subject Name	Financial Accounting
Year	2023 2024
Session	-
Language	English Medium
Assignment Code	BCOC-131/Assignmentt-1//2023-24
Product Description	Assignment of B.Com(G) CBCS (BACHELOR IN COMMERCE CHOICE BASED CREDIT SYSTEM) 2023-24. Latest BCOC 131 2023-24 Solved Assignment Solutions
Last Date of IGNOU Assignment Submission	Last Date of Submission of IGNOU BCOC-131 (B.Com(G) CBCS) 2023-24 Assignment is for January 2023 Session: 30th September, 2023 (for December 2023 Term End Exam). Semester Wise January 2023 Session: 30th March, 2024 (for June 2024 Term End Exam). July 2023 Session: 30th September, 2023 (for December 2023 Term End Exam).
Assignment Code	BCOC 131/2023 2024

~~Rs.~~
Rs. 50

Questions Included in this Help Book

Ques 1.

Home appliances Ltd. Sells goods on hire purchase terms at a profit of 25% on hire purchase price. Following are the transactions for the year ended December 31, 2018.

		Rs.
January	Stock out on hire at cost.	6,000
	Stock on hand (at shop)	1,000
	Installment due	600
	Cash Received	16,000
December 31	Stock out on hire (at cost)	6,900
	Stock on hand (at shop)	1,400
	Installment due	1,000

Calculate the profit or loss on hire purchase under Debtors Method.

Ques 2.

What are the qualitative characteristics of accounting information? Briefly explain.

Ques 3.

Explain the Concept of IFRS.

Ques 4.

Journalise the following transactions:

2018		Rs.
Feb. 1	Purchased goods for cash	18,000
Feb. 2	Purchased goods on credit from Mithun	37,000
Feb. 5	Sold goods to Mahesh	10,000
Feb. 8	Cash sales	8,000
Feb. 9	Cash sales to Jayant	7,000
Feb. 11	Returned goods to Mithun	4,000
Feb. 12	Mahesh returned goods	1,000

Ques 5.

Harinath purchased on January 1, 2016, a plant for Rs. 50,000. On July 1, 2016 an additional plant worth Rs. 20,000 was purchased and on July 1. 2017, the plant purchased on January 1, 2016 having become obsolete is sold off for Rs. 20,000. On July 1, 2018, a new plant was purchased for Rs. 60,000 and the plant purchased on July 1, 2016 was sold for Rs. 15,000. Depreciations to be provided at 10% p.a. on the written down value every year. Show the Plant Account.

Ques 6.

Briefly describe the advantages and limitations of accounting.

Ques 7.

What is an account? Describe the various classes of accounts with examples.

Ques 8.

Write about the Business Entity Concept.

Ques 9.

What do you mean by double entry system?

Ques 10.

What is a Balance Sheet? Describe different methods of arranging assets and liabilities.

Ques 11.

What is Trial Balance?