The document discusses an afterschool program for accounting, economics and business run by the Centre for Social Entrepreneurship. It is open and free for all. It discusses concepts in accounting such as the difference between concepts and conventions. It also provides solutions to accounting problems and questions related to concepts such as nominal accounts, expenses vs assets, accounting equation, etc.

1. ACCOUNTING, ECONOMICS & BUSINESS AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS CENTRE FOR SOCIAL ENTREPRENEURSHIP -PGPSE PROGRAMME – World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL

2. ACCOUNTING, ECONOMICS & BUSINESS Dr. T.K. Jain. AFTERSCHO☺OL Centre for social entrepreneurship Bikaner M: 9414430763 [email_address] www.afterschool.tk , www.afterschoool.tk

4. X of Mumbai sent goods to Goti of Delhi. The goods are to be sold at 125% of cost which is invoice price on above. Goti was entitled to commission of 10% on sales + 25% on any surplus realised above invoice price. 10% of goods sent on consignment , invoice value of which is Rs. 12500, were destroyed. 75% of the total consignment is sold by Goti at Rs. 1 lakhs. The amount of commission will be ?

19. HOW WILL YOU CONSOLIDATE THE ACCOUNTS OF THE 2 COMPANIES?

29. Bank overdraft as per trial balance is Rs. I .60 crore. Bank has allowed the customer 80 % of the hypothecated goods. Hypothecation of stock has been done by the bank at 80% of the original closing stock value. What is the amount of closing stock

34. A company purchased 3 years lease on 1st April, 2004 for Rs. 50,000. It is decided to provide for the replacement of the lease at the end of 3 years by setting up a depreciation fund. It is expected that investment will fetch at 12%. The investments are sold for Rs. 28,500.

58. We make DahiBada and cost structure is as under? 1060 60 790 50 540 40 400 30 300 20 210 10 100 0 TC MC AFC AVC VC FC TC Qty

59. If price of DahiBada is Rs. 14 each, what is the best output? -220 840 1060 60 -90 700 790 50 20 560 540 40 20 420 400 30 -20 280 300 20 -70 140 210 10 -100 0 100 0 Profit TR TC MC AFC AVC VC FC TC Qty

62. A contracts with B to buy jewellery made of pearls whereas in fact it IS made of imitation pearls of no value. B knows that A is mistaken and takes no steps to correct the error. NOW A wants to cancel the contract on the basis of fraud. what should he do?

65. If this is the cost schedule, what is the AFC & AVC when we make 6 units?

67. What will happen if utility obtained in first unit is 10, 2 nd unit 7, 3 rd unit 3, and 4 th unit = -4. show total utility

69. When do you find marginal return diminishing? 690 6 610 5 540 4 480 3 410 2 330 1 240 0 TC units

70. Solution 80 690 6 70 610 5 60 540 4 70 480 3 80 410 2 90 330 1 240 0 MC TC units

73. Example: EQUILIBRIUM OF THE FIRM

75. Illustration . .as we can see in the graph below : (there are different firms, each trying to match industry..

77. Graph of perfect market.

80. Graph

81. What will happen if prices increase and income of the people also increase. Presently you are at 1.

84. Graph…

85. A shopkeeper sells gel pen at Rs. 10 per pen. At this price he can sell 120 per month. After some time, he raises the price to Rs. 15 per pen. Following the price rise: • Only 60 pens were sold every month. • The number of refills bought went down from 200 to 150. • The number of ink pen customers bought went up from 90 to 180 per month. The Cross elasticity of monthly demand for refills when the price of gel pen increase from Rs. 10 to Rs.15 is equal to:

100. www.afterschoool.tk social entrepreneurship for better society