Nios ACCOUNTANCY (224 )TUTOR MARKED ASSIGNMENT 2025-26
1. Answer any one of the following questions in about 40-60 words.
(a) Accounting is termed as the language of the business’. Comment.
(b) What do you understand by compound entry. Also, explain the process of posting a compound entry from the journal into the ledger.
(2) Answer any one of the following questions in about 40-60 words.
(a) Explain the usage of sales and purchase day book.
(b) Explain how accounting is useful to government and researchers?
(3) Answer any one of the following questions in about 40-60 words.
(a) Explain a difference between journal and ledger.
(b) Write down the rules for accounting equation for the following: (i) Outsider’s Equity (ii) Interest on Capital
(4) Answer any one of the following questions in about 40-60 words.
(a) In order to ascertain the net profit for each year, businessmen need to take into account not only the current contingencies but future contingencies also. In this context, your friend wants to know the purpose of secret reserve. As a good friend, explain to him the purpose of secret reserve.
(b) Explain the meaning of Tally as an accounting software.
(5) Answer any one of the following questions in about 100-150 words.
(a) Prepare Accounting Equation on the basis of the following:
i. Commenced business with cash Rs.250000.
ii. Ankit purchased goods from Ravi Rs. 70,000.
iii. Purchased goods on credit Rs.27,000.
iv. Neha sold goods costing Rs.20,000 for Rs.42,000 for cash
(b) Explain how the issuance of cheques by a trader but not yet presented for payment leads to a difference between the cash book and pass book balances.
6. Prepare any one Project out of the given below.
(a) From the following particulars of Deepak Traders, prepare a bank reconciliation statement on June 30, 2012.
i. Balance as per the cash book Rs. 1,50,000
ii. Cheques for Rs.27,550 are deposited in the bank but not yet collected by the Bank.
iii. Rs. 8250 charges for Credit Card fee is debited by bank, which is not recorded in cash book.
iv. There was also a debit in the pass book of Rs. 60,000 in respect of a discounted bill dishonoured.
(b) Visit any nearby shop and observe their ten business transactions and prepare the accounting equation for them and ensure that they are equal at each and every step.
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