NIOS CLASS 10TH Accountancy (224) SOLVED TMA In English Medium PDF SESSION 2024 - 25

Q1. (a) Give two examples of business and non-business transactions each.
Answer – Two examples of Business Transactions:
1. A restaurant sells meals to customers, recording the sales as revenue and inventory
reduction.
2. A software company pays a freelance developer for a project, which is documented as an expense in its financial records.
Two examples of Non-Business Transactions:
1. A person purchases clothes for personal use, unrelated to work.
2. A parent gives their child a toy as a gift, with no financial transaction linked to a business activity. 

Q 2. (b) “Whatever the business possesses in the form of assets is financed by proprietor or by outsiders.” Justify the statement giving four appropriate examples.
Answer – The statement reflects that a business's assets are funded either by the owner or external sources.
For example:
1. Owner's Capital: The proprietor invests $50,000 to purchase equipment. 
2. Bank Loan: The business secures a $30,000 loan to buy inventory.
3. Investor Funds: An investor contributes $20,000 for shares.
4. Trade Credit: Suppliers extend credit to acquire goods, financing assets indirectly. 

3. Answer any one of the following questions in about 40-60 words. 
Explore tally with your friend and write any four features. (Lesson-17)

Or

Ledger is the Principal book of double entry accounting system while Journal is referred to
as the book of original record. In the light of this statement differentiate between a Journal
and a Ledger.  

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4. Answer any one of the following questions in about 100-150 words. 

Assuming that you are an owner of a grocery shop. Prepare a list of items purchased and sold
for one week. Record all transactions in appropriate books of accounts. 

Or

Discuss with two employees of any two organisations and explain how accounting is useful
to them. 


5. Answer any one of the following questions in about 100-150 words.

i. If a firm borrows a sum of money, what will be its effect on the Accounting Equation?

ii. Give two examples – one showing the effect only on assets and the other on liabilities only.  

Or

Enter the following transactions in returns inward book of Balwant Singh.

2023 Sept. 07 Subhash and Sons, Kanpur returned goods being not according to sample Rs.12,000.

Sept. 18 Allowance claimed by Gandhi & Co., Delhi on account of mistake in the invoice Rs. 1,000.

Sept. 21 Goods sold to Hari Ram Gopi Chand, Mumbai and returned by him being defective in colour Rs. 1,800.

Sept. 28 Goods returned to us by Kamal & Bros., Kerala worth Rs. 1,500 less 10% trade discount. 


6. Prepare any one Project out of the given below.

The cash book shows a balance of Rs. 7,800. On comparing the cash book with pass book, the following discrepancies were noted. Prepare a Bank Reconciliation Statement for the following

 . Cheque deposited in bank not credited, Rs.3,000.
 . Cheque issued but not yet presented for payment, Rs. 1,500.
 . Insurance Premium paid by the bank, Rs.2000.
 . Bank interest credited by the bank, Rs 400.
 . Bank charges, Rs.100.
 . Directly deposited by customer, Rs. 4000. 

Or

Discuss with your friend write the hardware requirement and important steps to open a Tally
software. Create a company on Tally ERP 9.0. and attach printouts of the screen shots of the
Company created.

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