IGNOU ECO 14 Solved Assignment 2022-23

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IGNOU ECO 14 Solved Assignment 2022-23

We provide handwritten PDF and Hardcopy to our IGNOU and other university students. There are several types of handwritten assignment we provide all Over India. ECO 14 ACCOUNTANCY-II Solved Assignment 2022-23 Download Free We are genuinely work in this field for so many time. You can get your assignment done – 8130208920

Important Note – IGNOU ECO 14 Solved Assignment 2022-2023  Download Free You may be aware that you need to submit your assignments before you can appear for the Term End Exams. Please remember to keep a copy of your completed assignment, just in case the one you submitted is lost in transit.

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Submission Date :

  • 31st March 2033 (if enrolled in the July 2033 Session)
  • 30th Sept, 2033 (if enrolled in the January 2033 session).

All questions are compulsory.

1. (a) What is partnership? Define partnership deed.

Partnership Deed Contents

While making a partnership deed, all the provisions and the legal points of the partnership deed are included. This deed also includes basic guidelines for future projects and can be used as evidence at times of conflict or legal procedures. For a general partnership deed, the below mentioned information should be included.

  • Name of the firm as determined by all partners.
  • Name and details of all the partners of the firm.
  • The date on which business commenced.
  • Firm’s existence duration.
  • Amount of capital contributed by each partner.
  • Profit sharing ratio between the partners.
  • Duties, obligations and power of each partner of the firm.
  • The salary and commission if applicable that is payable to partners.
  • The process of admission or retirement of a partner.
  • The method used for calculating goodwill.
  • The procedure that must be followed in cases of dispute arising between partners.
  • Procedure for cases where a partner becomes insolvent.
  • Procedure for settlement of accounts in the event of dissolution of a firm.

Importance of partnership deed

 A few important advantages of a well-drafted deed are listed:

  • It controls and monitors the rights, responsibilities and liabilities of all the partners
  • Avoids dispute between the partners.
  • Avoids confusion on profit and loss distribution ratio among the partners.
  • Individual partner’s responsibilities are mentioned clearly.
  • Partnership deed also defines a remuneration or salary of the partners and working partners. However, interest is paid to each partner who has invested capital in the business.
Partnership deed is a written legal document that contains an agreement made between two individuals who have the intention of doing business with each other and share profits and losses. It is also called a partnership agreement.
Documents required for registration of a partnership firm are:

  1. Certified original copy of Partnership deed
  2. Partner’s documents ( PAN Card and Aadhar or Driving License)
  3. Address proof of the firm ( rent agreement and utility bills ( gas, landline or electricity)
  4. GST registration
  5. Specimen of an affidavit certifying all the details mentioned in the partnership deed and documents are correct.
  6. Application for registration of partnership i.e Form 1

Partnership deed is written or created with the following basic informations:

  1. Name and address of the firm as well as all the partners.
  2. Nature of business to be carried out by the firm.
  3. Date of commencement of business.
  4. Duration of partnership (whether for a fixed period/project)
  5. Capital contribution by each partner.
  6. Profit sharing ratio among the partners.
What are the 2 advantages of partnership deed?

The following are two advantages of the partnership deed

  1. It helps in regulating the liabilities, rights and duties of the partners.
  2. It helps in avoiding misunderstandings between the partners by mentioning all the terms and conditions beforehand.
What are 3 characteristics of a partnership?

The most important characteristics of a partnership are:

  1. Contractual relationship
  2. Two or more individuals
  3. Sharing of profit and loss

(b) Hari and Giri entered into partnership contributing capitals of Rs. 60,000 and Rs. 30,000 respectively. They agreed to share profits and losses in the ratio 2: 1. During the year Hari and Giri withdraw Rs. 10,000 and Rs. 6,000, respectively. The profit for the year ended December 31,1989 was Rs. 42,000. Prepare Profit and Loss Appropriation Account taking into consideration the following: i) Hari is to be allowed a salary of Rs. 3,000 p.a. ii) Interest on capitals is to be provided at 5% pp,. iii) Interest on Giri’s Loan Account of Rs, 20.000 is to be charged for the whole year. iv) Interest on drawings is to be charged at 6% p.n.

2. What are the special features of the Profit and Loss Account of a Company? What do you understand by Appropriation of Profits. What are the items relevant in that connection?

3. (a) What is Stock Turnover Ratio? What are the implications of high and low stock turnover ratios? Explain with examples.
(b) What is cash flow statement? What are the various sources and uses of cash? How does it differ from fund flow statement?

4. Describe various provisions of Companies Act that deal with the issue of debentures at a discount. Give accounting treatment of debentures issued as a collateral security by the company.

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IGNOU ECO 14 Solved Assignment 2022-2023 We provide handwritten PDF and Hardcopy to our IGNOU and other university students. There are several types of handwritten assignment we provide all Over India. ECO 14 ACCOUNTANCY-II Solved Assignment 2022-23 Download Free We are genuinely work in this field for so many time. You can get your assignment done – 8130208920

IGNOU ECO 14 Solved Assignment 2022-23

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5 (a) What do you mean by Departmental Accounts? What are the advantages of Departmental Accounts?

(b) What is working capital? What do you understand by gross working capital and net working capital?

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IGNOU Instructions for the ECO 14 ACCOUNTANCY-II Solved Assignment 2022-23

IGNOU ECO 14 Solved Assignment 2022-2023 Download Free  Before attempting the assignment, please read the following instructions carefully.

  1. Read the detailed instructions about the assignment given in the Handbook and Programme Guide.
  2. Write your enrolment number, name, full address and date on the top right corner of the first page of your response sheet(s).
  3. Write the course title, assignment number and the name of the study centre you are attached to in the centre of the first page of your response sheet(s).
  4. Use only foolscap size paperfor your response and tag all the pages carefully
  5. Write the relevant question number with each answer.
  6. You should write in your own handwriting.



GUIDELINES FOR IGNOU Assignments 2022-23

IGNOU ECO 14 Solved Assignment 2022-23 You will find it useful to keep the following points in mind:

  1. Planning: Read the questions carefully. IGNOU ECO 14 Assignment 2022-23 Download Free Download PDF Go through the units on which they are based. Make some points regarding each question and then rearrange these in a logical order. And please write the answers in your own words. Do not reproduce passages from the units.
  2. Organisation: Be a little more selective and analytic before drawing up a rough outline of your answer. In an essay-type question, give adequate attention to your introduction and conclusion. IGNOU ECO 14 Solved Assignment 2022-2023 Download Free Download PDF The introduction must offer your brief interpretation of the question and how you propose to develop it. The conclusion must summarise your response to the question. In the course of your answer, you may like to make references to other texts or critics as this will add some depth to your analysis.
  3. Presentation: IGNOU ECO 14 Solved Assignment 2022-2023 Download Free Download PDF Once you are satisfied with your answers, you can write down the final version for submission, writing each answer neatly and underlining the points you wish to emphasize.

IGNOU Assignment Front Page

The top of the first page of your response sheet should look like this: Get IGNOU Assignment Front page through. And Attach on front page of your assignment. Students need to compulsory attach the front page in at the beginning of their handwritten assignment.

ENROLMENT NO: …………………………………………………….

NAME: ……………………………………………………………………

ADDRESS: ………………………………………………………………

COURSE TITLE: ………………………………………………………

ASSIGNMENT NO: …………………………………………………

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DATE: ……………………………………………………………………



ECO 14 Handwritten Assignment 2022-23

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