File Details:

Questions:

1. Give names of any four Indian Accounting Standards.
2. Explain the separate entity concept and dual aspect concept of accounting.
3. How is Memorandum Joint Venture Account prepared?
4. What are the items shown in debit and credit sides of Receipts and Payments account?
5. What is the accounting treatment of goodwill upon admission of a partner?
6. Distinguish between hire purchase and instalment payment systems.
7. Explain minimum rent, shortworkings and royalty in relation to lease of coal mines.
8. How can a partnership firm be dissolved?
9. Calculate the amount of subscriptions actually received during the year in cash given specific subscription details.
10. Calculate the amount of cash paid for purchase of machinery during the year using specified machinery account balances.
11. Distinguish between historical cost accounting and accounting for price level changes.
12. What do you mean by Consignment Account? How is it prepared under the invoice price method?
13. Write up joint venture account and personal account in the books of a consignor with given details.
14. Prepare necessary ledger accounts under Stock and Debtors system for branches using provided financial information.
15. Give journal entries in the books of a hire purchase buyer under specified terms and depreciation method.
16. What do you mean by Balance Sheet of a bank? Provide pro forma of a Balance Sheet for a commercial bank.
17. Draw up Shortworkings Account, Landlord's Account, and Royalty Account in the books of a lessee under given royalty terms.
18. Show journal entries, updated capital accounts, and Balance Sheet for a new firm after partner admission and revaluation adjustments.