₹198.00
Scroll down for Match your questions with Sample
Note- Students need to make Changes before uploading for Avoid similarity issue in turnitin.
Another Option
UNIQUE ASSIGNMENT
0-20% Similarity in turnitin
Price is 700 per assignment
Unique assignment buy via WhatsApp 8755555879
Description
| SESSION | JAN-FEB 2026 |
| PROGRAM | BACHELOR OF COMMERCE (B.COM) |
| SEMESTER | I |
| COURSE CODE & NAME | DCM1108 FUNDAMENTALS OF ACCOUNTING-1 |
Assignment Set – 1
Q.1. Explain the various current assets and current liabilities of a business organization. (5+5 = 10 Marks)
Ans 1.
Current Assets
These are the assets of a business organization that can be converted into cash or cash equivalents over the span of a few months, usually within one accounting year or operating cycle whichever is longer. These assets are liquid in way and they are crucial for satisfying the daily operational demands of the company. They appear on the assets side of the balance sheet and are listed according to the list of
Its Half solved only
Buy Complete from our online store
https://smuassignment.in/online-store/
MUJ Fully solved assignment available for session Jan-Feb 2026.
Lowest price guarantee with quality.
Charges INR 198 only per assignment. For more information you can get via mail or Whats app also
Mail id is aapkieducation@gmail.com
Our website www.smuassignment.in
After mail, we will reply you instant or maximum
1 hour.
Otherwise you can also contact on our
whatsapp no 8791490301.
Q.2. Explain the four main Accounting Conventions. (10 Marks)
Ans 2.
Accounting conventions are generally accepted practices and guidelines which accountants adhere to when preparing financial statements. They aren’t legally binding however, they have developed over time to ensure an uniformity, consistency, and comparability in financial reports. They assist in giving truthful and accurate information of a business’s financial performance. Four of the most popular accounting practices are Consistency, Full Disclosure, Materiality, Conservatism an
Q.3. Prepare a double-column Cash Book with cash and bank columns from the following transactions for the Month of March 2026. (10 Marks)
| Date (March 2026) | Particulars | Amount in Rs |
| 1st | Cash in hand | 25,000 |
| 1st | Cash in Bank | 30,000 |
| 3rd | Purchased goods for cash | 6,000 |
| 5th | Deposited cash in bank | 10,000 |
| 8th | Cash Sales | 12,000 |
| 10th | Paid to Chandni by Cheque | 4,500 |
| 15th | Sold goods to Ashok Mehta on credit | 4,000 |
| 16th | Received cheque from Mahesh and deposited into bank the same day | 7,000 |
| 18th | Received cheque from Arun Kumar and deposited into bank | 2,000 |
| 30th | Purchased goods from Mr. Chopra on credit. | 5,000 |
| 31st | Bank charges for the month | 400 |
Ans 3.
The Double Column Cash Book is an essential accounting record that records all transactions that are related to both cash and bank in a single book. It has two columns in each with one column for cash and another for bank making it easier to record receipts and payments efficiently. This type of cash book serves as both a journal and as a ledger. This reduces the requirement for separate accounts to store cash and bank balances.
In the section for debit in the book of cash the cash book, every receipt of cash and amounts deposited into the
Assignment Set – 2
Ans 4.
- a) Straight Line Method (SLM)
The Straight Line Method, also known as”the Fixed Instalment Method or Original Cost Method is among the most frequently used methods for calculating depreciation on stationary assets. Under this method, the same amount of depreciation will be charged each year over the duration of the asset so that the asset is totally written off by the date of the estimated life. The formula used to calculate annual
Q.5. From the following information, Prepare the Trading and Profit and Loss Account of Supreme Soul & Sons for the year ended 31st March 2025, in proper format, clearly mentioning the Gross profit and Net profit for the year ended 31st March 2025. Closing stock was valued at Rs 200,000.
| Particulars | Amount | Particulars | Amount |
| Opening stock | 100,000 | Sales | 7,20,000 |
| General Expenses | 20,000 | Purchases Returns | 5,000 |
| Purchases | 400,000 | Creditors | 50,000 |
| Carriage outward | 20,000 | Capital | 360,000 |
| Wages | 90,000 | Carriage Inwards | 5,000 |
| Salaries | 50,000 | Drawings | 40,000 |
| Office Rent | 50,000 | Debtors | 3,00,000 |
| Sales returns | 10,000 | Advertising | 20,000 |
| Machinery | 70,000 | Cash | 40,000 |
Ans 5.
The Trading and Profit and Loss Account is made to evaluate the financial performance of a business within a certain accounting period. It’s split in two sections of the trading Account as well as the Profit and Loss Account.
This Trading Account is prepared to determine the Gross Profit or Gross Loss. It covers all direct costs and revenues
Q.6. Explain the meaning and features of the Receipt and Payment account prepared by Not-for-Profit organisations and also explain how it is different from the Cash book. (6+4 = 10 Marks)
Ans 6.
Receipt and Payment Account
A Payment and Receipt Account is a summary of all cash and bank transactions of a Not-for-Profit Organisation for a specific accounting period. These organizations, such as clubs charitable trusts, hospitals, and educational institutions were established in order to supply services rather than making money. Thus, instead of making trading and Profit and Loss Accounts they prepare a Receipt and payment account.
This account is a condensed form of the Cash Book. It begins with the beginning balance of cash and bank accounts for all receipts made