ALLAMA IQBAL OPEN UNIVERSITY ISLAMABAD

(Department of Commerce)
Principles of Accounting (438)
CHECKLIST
SEMESTER AUTUMN 2009
This packet comprises the following material: -
1. Text Book (One)
2. Assignment No. 1 ! 2
". Assignment forms (Two sets )
#. $che%&le for assignment s&'mission an% t&torial meetings
(f )o& fin% an)thing missing in this packet please contact at the a%%ress gi*en 'elow:
Director
Admission & Mailing
Allama Iqbal Open University
H-8, Islamabad
Syeda Faiza Urooj
+o&rse +oor%inator
ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD
(Department of Commerce)
[
WARNING
1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING
THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD
OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM
OTHER(S) AS ONE`S OWN WILL BE PENALIZED AS DEFINED IN
~AIOU PLAGIARISM POLICY.
Course: Principles of Accounting (438) Semester: Autumn, 2009
Level: BA/B.Com Total Marks: 100
Note: You are required to solve all questions carry equal marks. If you are unable
to understand any question of assignment do seek help from your concerned tutor
but keep in mind that tutors are not supposed to solve the assignment questions for
you.
Assignment No. 1
(Unit 1-4)
,.1 -xplain the recor%ing classif)ing s&mmari.ing an% presenting phases of
acco&nting with comprehensi*e example
,.2 The following Trial Balance has 'een extracte% from general le%ger of /r. $ohail
Am0e%.
TRIAL BALANCE
1ecem'er "1 1223
1r. (4s.) +r. (4s.)
+ash 5333
Acco&nts 4ecei*a'le (1e'tors) 13333
(n*entor) (6an&ar) 1 1223) 7333
Office -8&ipment #933
Acco&nts :a)a'le (+re%itors) ;333
Notes :a)a'le (Bills :a)a'le) "333
(ns&rance ;33
2
Office $&pplies #33
4ent -xpenses 933
Office $&pplies 1233
$ohail Am0e% +apital 12533
$ohail Am0e% 1rawings 233
A%*ertising -xpenses 233
1eli*er) -xpenses 533
:&rchases 15333
$ales 2"333
<reight (n 233
:&rchases 4et&rns 533
$ales 4et&rns 933
Total 47,000 47,000
Adjustment:
1. /erchan%i.e (n*entor) on 1ecem'er "1 1223 is *al&e% at 4s.;533=-
2. 4aise an Allowance for 1epreciation on Office -8&ipment 4s.933=-
". (ns&rance >nexpire% is 4s.233=-
#. Office s&pplies cons&me% is 4s."33=-
5. A 'ill of 4s.133=- in respect of a%*ertising is o&tstan%ing.
Required: :repare ten col&mns ?orks $heet from the a'o*e information.
,." A firm of man&fact&res whose 'ooks are close% on "1
st
1ecem'er p&rchase%
/achiner) for 4s.53333 on 15 6an&ar) 12;3. A%%itional /achiner) was ac8&ire%
for 4s.13333 on 1
st
6&l) 12;1 an% for 4s.19#99 on 1#
th
April 12;#. +ertain
machiner) which originall) cost 4s.13333 in 12;3 was sol% for 4s.5333 on "3
th
6&ne 12;".
@i*e the /achiner) Acco&nt for fi*e )ears writing off %epreciation at 13A on the
written %own *al&e metho%.
,.# 1efine acco&nting. Bow acco&nting is %ifferent from BookkeepingC 1efine 1o&'le
-ntr) Bookkeeping s)stem. -xplain its a%*antages.
,.5 ?hat are the ma0or t)pes of errors ma%e in acco&nting entriesC -xplain with
examples.
Assignment No. 2
(Units 5-8)
,.1 -xplain the ca&ses of %isagreement 'etween Bank :ass Book an% +ash'ook. >n%er
what circ&mstances s&ch a statement is prepare%C
"
,.2 (a) ?hat is %epreciationC 1isc&ss in %etail the %ifferent metho% of calc&lating
%epreciation.
(') ?hat is the %ifference 'etween %epreciation an% %epletionC
,." (a) ?hat is 6oint $tock +ompan)C Bow a compan) gets the re8&ire% finance to
s&r*i*e an% to smoothl) operateC 1isc&ss the each so&rce of finance
separatel).
(') ?h) a 0oint stock compan) is legall) 'o&n% to maintain proper 'ooks of
acco&ntsC
(c) ?hat %o )o& know a'o&t the a&thentication of acco&nting recor%sC
,.# -xplain the conse8&ences of %issol&tion of partnership with n&merical ill&strations.
,.5 ?rite short notes on the following:
(a) Accr&als 'ase% acco&nting
(') <actors for %etermination of %epreciation
(c) (mprest s)stem
DDDDDDDDDDDDDDDD
#