IGNOU ECO 2 SOLVED ASSIGNMENT

Included:

ECO 2 2025 2026 - English

Course Code : ECO-02

Course Title : Accountancy-1

Assignment Number : BCA (II)/02/Assignment/2025-26

Maximum Marks : 100

Weightage : 25%

Last Dates for Submission: 31st October, 2025 (For July Session) 30th April, 2026 (For January Session)

There are five questions in this assignment which carried 100 marks. Answer all the questions. Please go through the guidelines regarding assignments given in the Program Guide for the format of presentation.

Attempt all the questions:

Q1. What is Bank Reconciliation Statement? State the various causes of disagreement between the balance shown by the Cash Book and the Pass Book? Explain how BRS is prepared with an adjusted balance of cash book?

Q2. Give journal entries for the following adjustments and also explain the accounting treatment of these adjustments while preparing the Final Accounts of an Enterprise?

a) Outstanding Expenses Rs. 7000

b) Interest on Capital Rs. 5000

c) Provision for Bad & Doubtful debts Rs. 6000

d) Loss of Goods by theft Rs. 6,000

e) Drawing of Goods by the Proprietor Rs. 11000

Q3. a) "Consignment is the same thing as Sale". Discuss.

b) "Joint Venture is a temporary partnership". Comment and explain how is it different from Partnership.

Q4. Discuss the drawbacks of Single Entry System of Accounting. Explain two methods of ascertaining profit when accounting records are incomplete.

Q5. Differentiate between the following:

a) 'Receipts and Payments Account' and 'Cash Book'

b) 'Income & Expenditure Account' and 'Profit & Loss Account'

ECO 02 (July 2026 - January 2027) - ENGLISH

TUTOR MARKED ASSIGNMENT
COURSE CODE : ECO-02
COURSE TITLE : ACCOUNTANCY-I
ASSIGNMENT CODE : ECO-02/TMA/2026-27
COVERAGE : ALL BLOCKS
Maximum Marks: 100
Attempt all the questions:
1. What is depreciation? Discuss its objectives and explain the various methods used
for calculating depreciation.
(20)
2. a) Why is journal sub-divided? Name the special journals generally maintained
by the business and state the type of transactions entered in each of them.
b) What are its various types of errors which are usually committed in the
process of accounting? Explain them with examples.
(10+10)
3. a) "Ledger is said to be the principal book of entry, and the transactions can even
be directly entered into the ledger account." Elaborate on the statement and
explain why Journal is necessary.
b) "Credit sales can be ascertained either by preparing the Total Debtors Account
or with the help of Memorandum Trading Account". Discuss.
(10+10)
4. Ages Cycle Co., Delhi sent 100 bicycles on January 1,1987 to Murugan
Enterprises, Madras. Tile cost of each bicycle was Rs. 500 and it was invoiced at
Rs. 600. Ages Cycle Co. incurred Rs. 2,000 on freight and insurance and received
Rs. 30,000 as advance from t Murugan ‘Enterprises. Murugan Enterprises paid Rs.
1,000 as octroi and carriage, Rs. 800 as rent and Rs. 600 as insurance. By June 30,
1987 they had sold 100 bicycles for Rs. 62,500. Murugan Enterprises are entitled
to a commission @ 10% on the proforma invoice price and 20% of any surplus
realised over and above the invoice price. Murugan Enterprises remitted the
amount due from them by a bank draft.
You are required to prepare ledger accounts in the books of both parties.
(20)
5. Differentiate between the following:
a) Profit and Loss Account and Balance Sheet
b) Single Entry System and Double Entry System 

 

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