IGNOU ECO-2 EM SOLVED Assignment 2019-20

ignou eco-2 assignment 2019-20

Are you looking for IGNOU Solved Assignment of ECO-2 (2019 – 2020)? We have collected some assignment solutions for IGNOU Courses which you can find here.  ignouassignmentwala.in team has been shorted out some assignment related to ECO-2  for session 2019 – 2020. We’ve attached the best extracted solved assignment below.

IGNOU ECO-2 Solved Assignment 2019-20 Free Download

 

Course Code: ECO-2
Assignment Code: ECO-2/TMA/2019-2020
Maximum Marks: 100

 

Attempt all the questions

1. Define Accounting. What are its objectives? Briefly explain the accounting concepts  which guide the accountant at the recording stage. (3+5+12)

2. What are the various types of errors that are usually committed in the process of
accounting? Explain with the help of examples. (20)

3. Ram Das of Hyderabad consigned goods costing Rs. 72,000 to Prakash of Cochin at a pro-forma invoice price which is cost plus a profit of 1/6th on invoice price. The
consignor paid Rs. 1,800 as insurance and other charges. Prakash received the goods and paid Rs. 3,000 for freight and other charges. He was allowed 3% commission on gross sales. 3/4th of the goods were sold at 33.33% profit on cost, half of which were credit sales. Half of the balance was stolen, but the stock being insured, a claim was lodged for  Rs. 8,000 and was settled for Rs. 7,000. Balance of stock was valued at proforma invoice  price. Write up the Consignment and the Abnormal Loss Accounts. (20)

4. (a) Under what circumstances would you prepare Bills Receivable Account and Bills  Payable Account while preparing final accounts from incomplete records? Explain

(b) “Credit Sales can be ascertained either by preparing the total Debtors Account or with  the help of Memorandum Trading Account.” Discuss. (10+10)

5. (a) Describe the methods of recording depreciation in the books of account. How is the  balance of the provisions for depreciation account shown in the Balance Sheet?

(b) What is a secret reserve? Enumerate the method employed by a firm to create secret reserves. Critically evaluate the practice from the viewpoint of general investors and shareholders. (10+10)

 

 

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