Accountancy (224) Nios Hand Written Solved Tutor Marked Assignment October Exam

Accountancy (224) Nios Hand Written Solved Tutor Marked Assignment October Exam

(i) All questions are compulsory. The marks allotted for each question are given at same place.

(ii) Write your name enrollment numbers, AI name subject on the top of the first page of the answer sheet.

(1) (a) How can you show Prepaid Insurance in the Accounting Equation? If commission worth Rs. 2800/- is received, what will be its effect in the Accounting Equation?

(b) From the following information prepare Credit Voucher of M/s Stanley Leather shoes Ahmedabad. 2015 Rs.
April 17 Sold leather bags for cash vide Cash Memo No.: 514 5800
April 24 Received cash from Tyagi & Co. on account vide Cash receipt No.: 38

(2) (a) What does the Going Concern Concept say?

(b) How can you explain 'Creditors' and 'Proprietors' as users of accounting information?

(3) (a) Can 'Capital' be considered as External Liability? Why?

(b) Identify the type of accounts in this transaction: Paid for Printing & Stationary
Rs. 12,500/-

(4) (a) Mr. Ashil opened a shop. The following are his business transactions:
Jan 8 Purchased goods Rs. 20,000
Jan 10 Sold goods for cash Rs. 82,000
Jan 21 Paid Electricity charges Rs. 3560
Jan 22 Bought Office furniture Rs. 10,500
State the titles of accounts and types of Accounts that is affecting each transaction of Mr. Akhil.

(b) List out the Assets, Liabilities and Capital from the following.

(5) An Accounting Concept assumes that all business transactions must be expressed in monetary
terms. What is the significance of this concept?

(6) (a) Visit any nearby business establishment and prepare a report of how "Dual Aspect Concept" is followed by that concern. Minimum of 8 transactions are to be analysed.

(b) Go to any shop. Prepare a Project of how Accounting helps that organization in different ways. (Details of six advantages are needed)

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