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NIOS Accountancy (320) Solved Assignments [TMA] 2023-24
NIOS SOLVED ASSIGNMENTS [TMA] 2023-24
SENIOR SECONDARY SOLVED [TMA] 2023-24 for class 12
Accountancy (320)
Tutor Marked Assignment
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Max. Marks: 20
Note:
(i) All questions are compulsory. The marks allotted for each question are given beside the question.
(ii) Write your name, enrollment number, AI name and subject on the first page of the answer sheet.
1. Answer any one of the following questions in about 40-60 words.
a) Explain the role of an accountant in the society. (See lesson-1)
Ans - Answer Anyone
b) To make financial statements meaningful, only material facts i.e. important and relevant information should be supplied to the users of accounting information. Explain the convention of consistency with an example. (See lesson-3)
Ans - The convention of consistency in accounting ensures that a company uses the same accounting methods and practices from one period to the next, providing users with consistent and comparable financial information. For example, if a company consistently uses the straight-line method to depreciate its assets, it allows stakeholders to accurately compare the depreciation expenses and assess the company's financial performance over time. This consistency aids in making financial statements more meaningful and reliable for decision-making.
2. Answer any one of the following questions in about 40-60 words
a) From the following transactions prepare Simple Cash Book:
2014 ₹
March 01 Cash in hand 32,500
March 08 Cash paid to Rohan 8,000
March 12 Goods Purchased 3,000
March 15 Cash received from Tanya 2,000
March 18 Cash Sales 4,000
March 22 Paid wages 4,000
March 25 Salary paid 3,000
March 28 Cash paid to Manish 3,500
March 31 Rent paid 2,500 (See lesson-7)
Ans -
| Date | Description | Cash In (₹) | Cash Out (₹) |
|---|---|---|---|
| March 01 | Cash in hand | 32,500 | - |
| March 08 | Cash paid to Rohan | - | 8,000 |
| March 12 | Goods Purchased | 3,000 | - |
| March 15 | Cash received from Tanya | 2,000 | - |
| March 18 | Cash Sales | 4,000 | - |
| March 22 | Paid wages | - | 4,000 |
| March 25 | Salary paid | - | 3,000 |
| March 28 | Cash paid to Manish | - | 3,500 |
| March 31 | Rent paid | - | 2,500 |
| - | Total: | 34,500 | 20,500 |
b) Pawan received the following Bills of Exchange. Record them in Bills Receivable Book.
2014
July 01 Drawn on Manish a Bill of Exchange at 2 months which was accepted and returned by him on July 1, 2014 for a sum of ₹ 15,000
July 15 Drawn on Sushant a Bill of Exchange for ₹ 12,000 at 2 months, which was accepted on the same day.
July 20 Drawn on Amrita a Bill of Exchange for ₹ 60,000 at 3 months which was accepted and returned by her on July 20 itself. (See lesson-11)
Ans - Answer Anyone
3. Answer any one of the following questions in about 40-60 words.
a) ‘Agreement of Trial Balance is not the conclusive proof of the accuracy of accounts’. Comment. (See lesson-9)
b) From the following particulars, prepare Bank Reconciliation statement as on December 31, 2014.
(i) Balance as per Cash Book ₹ 4,200
(ii) Cheques issued but not presented for payment ₹ 2,000
(iii) Cheques deposited but not collected ₹ 3,000
(iv) Bank charges debited by the bank ₹ 250
(See lesson-10)
4. Answer any one of the following questions in about 100-150 words.
a) A sold goods to B for ₹ 2,000. B accepts two bills of ₹ 1,000 each for 3 months. A endorsed one bill to C. On due date both bills are met. Pass the entries in the books of A and B. (See lesson-11)
b) Salman and Usman Bros. acquired a machine on July 1, 2014 at a cost of ₹ 70,000 and spent ₹ 5,000 on its installation. The firm writes off depreciation @ 10% on straight line method. The books are closed on December 31 every year. Show the machinery and depreciation account for three years. (See lesson-14)
5. Answer any one of the following questions in about 100-150 words.
a) From the following Statement of Profit and Loss, prepare Common-size Statement of Profit and Loss and give comments.
Particulars 31st March,
b) Explain the procedure of managing Text in excel. (See lesson-35)
6. Prepare any one project out of the given below –
a) Make use of your communication skills to obtain Partnership Deed of five firms. Go through partnership deed of such firms. Identify the provisions which are not common. Also find out the important items that you would like to include in one of the partnership deeds.
Name of the firm || Items that are exclusive to the firm || Items to be included
1.
2.
3.
4.
5.
List of the items you suggest to be included in the partnership deeds
1.
2.
3.
4.
(See lesson-22)
b) Your father is a shareholder of a company. Every year he receives report from the company. This report is called annual report of the company. After going through the report for a year, find out the following:
1. Name of the company with suffix Ltd. or Private Ltd.
2. Mention the amount of capital:
(a) Authorised
(b) Issued
(c) Called up
(d) Call in Arrears
(e) Reserve capital (See lesson-26)
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