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    Amarendra Suman
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    This document outlines the assignment questions for the Financial and Management Accounting course in the first semester of an MBA program. It includes 4 questions: 1. Explain the various accounting concepts and principles. 2. Pass journal entries for 5 business transactions involving cash, purchases, and expenses. 3. Explain the various types of errors disclosed by a trial balance. 4. Prepare a trading account from given balances extracted from a trial balance, including the closing stock amount.

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    This document outlines the assignment questions for the Financial and Management Accounting course in the first semester of an MBA program. It includes 4 questions: 1. Explain the various accounting concepts and principles. 2. Pass journal entries for 5 business transactions involving cash, purchases, and expenses. 3. Explain the various types of errors disclosed by a trial balance. 4. Prepare a trading account from given balances extracted from a trial balance, including the closing stock amount.

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    256 views1 page

    MB 0041

    Uploaded by

    Amarendra Suman
    This document outlines the assignment questions for the Financial and Management Accounting course in the first semester of an MBA program. It includes 4 questions: 1. Explain the various accounting concepts and principles. 2. Pass journal entries for 5 business transactions involving cash, purchases, and expenses. 3. Explain the various types of errors disclosed by a trial balance. 4. Prepare a trading account from given balances extracted from a trial balance, including the closing stock amount.

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    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    Master of Business Administration- MBA Semester 1

    MB0041 – Financial and Management Accounting - 4 Credits


    (Book ID :B1130)
    Assignment Set- 1 (60 Marks)
    Note: Each question carries 10 Marks. Answer all the questions.
    Q.1 Explain the Various accounting Concepts and Principles? [10 Marks]
    Q.2 Pass journal entries for the following transactions [10 Marks]
    1. Madan commenced business with cash Rs. 70000
    2. Purchased goods on credit 14000
    3. Withdrew for private use 3000
    4. Goods purchased for cash 12000
    5. Paid wages 5000
    Q.3 Explain the various types of errors disclosed by Trial Balance? [10 Marks]
    Q.4 From the following balances extracted from Trial balance, prepare Trading Account.
    The closing stock at the end of Amount in Rs.
    the period is Rs. 56000 10
    Marks] Particulars
    Stock on 1-1-2004 70700
    Returns inwards 3000
    Returns outwards 3000
    Purchases 102000
    Debtors 56000
    Creditors 45000
    Carriage inwards 5000
    Carriage outwards 4000
    Import duty on materials 6000
    received from abroad
    Clearing charges 7000
    Rent of business shop 12000
    Royalty paid to extract 10000
    materials

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