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HSC Accounting Assignment 2021 for Class 11

HSC Accounting 1st Week Assignment 2021

HSC Accounting 1st Week Assignment

HSC First Week Accounting Assignment

Follow the steps in the accounting cycle to identify transactions, record them, prepare the ledger and show the effect on the accounting equation:

The balance sheet of Gautam Enterprise as on January 31, 2021 was as follows.

80,000 in cash, Rs. 30,000 in office equipment, Rs. 40,000 in debtor and Rs. 45,000 in creditor. Here are some of the ones I found to be interesting:

2021

Feb 1: A skilled manager pays a salary of Rs 20,000.

Feb 5: A loan of Rs. 50,000 from a bank through 13% payable net recognition.

Feb 6: Three-month bed-room rent pays Rs 15,000 in advance.

Feb 12: Insurance premium paid at Rs 1,200.

Feb 14: Signed an agreement to purchase office equipment worth Rs 1,00,000.

Feb 18: 1,20,000 rupees (80% in cash, 40% on loan) if the product is sold at 3% transaction discount.

Feb 17: Cash withdrawn by owner for Rs 30,000.

Feb 20; 30,000 was recovered from a debtor.

Feb 22: Rs 5,000 for selling goods through receivable bill.

Feb 25: Life insurance premium of the owner’s eldest daughter is paid Rs 10,000.

Feb 28: 01 month has passed since the rent was paid in advance.

Question:

A. Show the effect of calculation on transactions of 5, 6, 17, 28.

B. Transactions recorded on 12th, 16th, 22nd, 25th are recorded in the account book of Gautam Enterprise. (Without explanation)

C. Prepare the relevant ledger accounts.

D. Accounting cycle (with diagrams).

Learning outcomes or content

Be able to prepare and save books of accounts by maintaining the continuity of the accounting cycle.

Be able to explain the effect of these on accounting equations by identifying business transactions.

Be able to identify the different parties involved in the transaction according to the class of accounts.

Instructions (signal / step / circumference)

A) Transaction should be included with marking and initial balance (tabular table).

B) Determine the classification and debit credit of the account.

C) Running table should be followed.

D) Explain up to 1st-5th step.

Evaluation Rubix

Determining the level or number of instructions and expertise in verifying answers

Instructions4321
Perform tasks according to the tubular table4 points are correct3 points are correct2 points are correct1 point is correct
Journalism4 points are correct3 points are correct2 points are correct1 point is correct
Diagnosis of ledgerAll the calculations are correctMost of them are fineExactly halfway throughPartial Z is right
Follow the steps of the accounting cycleFollow the steps appropriatelyPartially followedFollowed in some casesSteps not followed
Ability to analyzeHas been able to analyze all transactionsHas been able to analyze most of the transactionsHas been able to do a partial analysis of the transactionHas been able to analyze transactions in certain cases

HSC Accounting

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