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Note The Assignment is divided into 2 sets. You have to answer all questions in both sets
and submit as one document. Average of both assignments marks scored by you will be
considered as your IA marks. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.
Z expired on 1st April 2016. So, the assets are revalued and liabilities re-assessed as
follows :
The balance due to Z will be transferred to his executors loan account which will
carry an interest of 10 % p.a. Prepare Revaluation Account, Capital Accounts and
the Balance Sheet of new firm after adjustments.
Based on above, prepare : 10
a) Revaluation Account 3
b) Capital Accounts and 3
c) Balance Sheet as on 1st April 2016 4
How will you differentiate between Trade discount and Cash discount ?
2 Narrate the main divisions and classes of share capital.
Explain Bill of exchange and the procedure for recording bills in the books of
2 drawer and accepter when the bill is : Accepted and discharged.
Explain the Depreciation Accounting procedure and concept taking AS-6 into
consideration.
3
Depreciation Accounting procedure and concept 10 10
taking AS-6 into consideration.