# AIOU SOLVED ASSIGNMENT 02 CODE 444 ADVANCE ACCOUNTING

## 2015 SPRING SOLVED ASSIGNMENT # 02 ADVANCE ACCOUNTING CODE 444

Aiou Solved assignment for very interesting and important subject code 444 advances accounting. This assignment is normally solved by B.com students. We aiouassignments dot com is feel pleasure to share with you solved assignment of this course but be remember we are sharing only solved of numeric questions, so please do not be sad because we hope that theoretical questions you can solved easily.

### SOLVED ASSIGNMENT # 02 COURSE CODE 444 SPRING 2015

Q 01:

Annual Rentals Payable= Interest + Annual interest

=180000+108000=288000

AMORTIZATION SCHEDULE

 DATE ANNUAL PAYMENT ANNUAL INTEREST 15% LEASE RECEIVABLE RECEIVABLE LIABILITY BALANCE 02.01.14 900000 31.12.14 180000 (180000) 720000 31.12.14 108000 108000 612000 01.01.15 180000 180000 432000 31.12.15 64800 64800 367200 01.01.16 180000 180000 187200 31.12.16 28080 28080 159120 01.01.17 159120 159120 0

JOURNAL ENTERIES BOOK OF LESSEE

 DATE DETAILS Rs. Rs. 02.01.14 Lease Equipment To Lease Liability 900000 900000 31.12.14 Interest Expenses To Accumulated Depreciation 180000 180000 31.12.14 Depreciation Expenses To Accumulated Depreciation 108000 108000 01.01.15 Lease Liability To Cash 720000 720000 31.12.15 Interest Expenses To Accumulated Depreciation 180000 180000 31.12.15 Depreciation Expenses To Accumulated Depreciation 64800 64800

Q 03:

 ASSETS Rs CAPITAL + LIABILITIES Rs Fixed Assets Stock Debtors Bank 60000 20000 25000 5000 Share Capital Reserves Long-term loans (Balance figure Current Liabilities) 50000 25000 15000 20000 TOTOAL 110000 TOTAL 110000

Q 05:

BLUE LTD.

TRADING AND PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31.12.1992

 Rs Rs Opening Stock Purchase Wages                        84800 Less Charges to Premises 10000 Freight Gross Profit (c/d) 75000 185000     74800 13100 168100 Sales Closing Stock 415000 101000 516000 516000 General  Expenses Salaries Debenture Interest           9000 + Outstanding                    9000 Director Fees Preliminary Expenses Deprecition Plant & machiner Depreciton Fixtures Provision for Bad Debts Net Profit 16900 14500   18000 5740 1000 36000 360 2960 74050 Gross profit  (b/d) Interest on Govt Securities 4% on Rs. 60000 168100   2400 TOTAL 170500 TOTAL 170500

PROFIT AND LOSS APPROPRIATION A/C

 PARTICULARS Rs. PARTICULARS Rs. Provision for income tax General Reserve Interim Dividend Proposed Dividend Balance (c/d) 25000 10000 7500 23000 24040 Balance from the last year Net Profit this year 14500 75040 TOTAL 89540 TOTAL 89540

BALANCE SHEET

AS AT

31.12.2014

 ASSETS Rs CAPITAL + LIABILITES Rs FIXED ASSETS Premises Machinery                      360000 Less: Dep                           36000 Fixtures                                7000 Less: Dep                               360 Goodwill Preliminary Expenses   CURRENT ASSETS Investment                      60000 + Interest due                    2400 Closing Stock Sundry Debtors                87000 Less: Pro B.debts                4350 Cash in Hand Cash at Bank 310000   324000   6840 25000 4000       62400 101000   82650 8250 39900 Share Capital & Reserves Authorized Capital:- 60000 shares of Rs. 10 each Issued, subscribed and paid up capitl 46000 shares of Rs. 10 each   RESERVE Profit & Loss App A/C General Reserve   CURRENT LIABILITES:- 6% Debentures Interest Outstanding Provision for Income Tax Proposed dividend Bill Payable Sundry Creditors 600000   460000     24040 35000     300000 9000 25000 23000 38000 50000 964040 964040