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Bachelor Preparatory Programme (BPP)

PCO – 01 -Preparatory Course in Commerce


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Course Code : PCO – 01
Course Title : Preparatory Course in Commerce
Assignment Code : PCO – 01/TMA/2018
Coverage : All Blocks
Maximum Marks: 100

Note: Attempt all the questions. All questions carry equal marks.
Q 1. What are the various forms of business organization? Explain.
Q2. What do you understand by principle of double entry? Give the rules of debit and credit
with suitable examples.
Q3. Journalize the following transactions: Rs

May 1 Purchased goods for cash 10,000
2 Purchase goods on credit from Ram Lal 6,55,000
5 Sold goods to Mahesh 50,000
8 Cash sales to Jayant 10,000
9 Returned goods to Ram Lal 15,000
11 Mahesh Returned goods 5,000
12 Purchased stationary 2,000
17 Rent Paid 5,000
21 Commission Received 10,000
23 Cash Received from Anil 2,000

Q4. Write short notes on any two of the following:
(a) Going Concern Concept
(b) Full Disclosure Concept
(c) Consistency Concept
Q5. Explain how Bank Reconciliation Statement is Prepared with an adjusted balance of cash
Q6. If the Trial Balance does not tally, it means there are some errors in books of accounts.
Explain the procedure of locating these errors.
Q7. Distinguish between the following:
(a) Capital Receipt and revenue Receipt
(b) Capital Profit and revenue profit

Q8. What is meant by closing Stock? How is it valued and shown in the final accounts?
Q9. What do you mean by one sided errors? How are these errors rectified? Explain with
suitable examples.
Q10. From the following Trial Balance of Sh. Raghu Ram, Prepare Trading, Profit & Loss
Account for the year ended 31st December, 2017 and Balance Sheet as on that date:


  Dr. Rs. Cr. Rs.
Purchases and Sales 375,000 4,20,000
Returns Inwards 15,000  
Returns Outwards   10,000
Carriage 12,400  
Wages and Salaries 52,600  
Trade Expenses 2,200  
Rent   12,000
Insurance 1700  
Audit Fees 1,500  
Debtors and Creditors 10,000 50100
B/R and B/P 3,300 2,200
Printing and Advertising 5,500  
Commission   13000
Opening Stock 36,000  
Cash in hand 18800  
Cash in Bank 26,800  
Bank Loan   20,000
Interest on Loan 1,500  
Capital   2,50,000
Drawings 15,000  
Fixed Assets 2,00,000  
  777,300 7,77,300


  1. Stock at the end Rs. 50,000
  2. Depreciate Fixed Assets by 8%
  3. Commission earned but not received amounts to Rs. 600
  4. Rent received in advance Rs. 1,000
  5. Allow 7% interest on Capital and charge Rs. 900 as interest on Drawings.

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