HOLIDAY HOMEWORK-2022-23

SUB: ACCOUNTANCY
1.Thoroughly revise & Prepare the Syllabus for Unit test.
Solve & complete the assignment on
Ch- Fundamentals OF partnership( Handout given)
Ch- Goodwill (Assignment posted )
Ch-Change in PSR(Handout given)
Ch- Admission Of a Partner-(Complete Exercise Questions till Q.no 85 & Evaluation
questions 1&2)
2. Complete/Update Comprehensive Project - Based on the guidelines below:

Accountancy Project for Class 12 CBSE Guidelines 2022-

23
CBSE has provided specific guidelines for Accounts 12 project 2020-21 which are as follows:
Here are the three main project work topics from which Accounts class 12 students 2020-21 can
choose from:

● Collection of source documents, recording accounting transactions using vouchers as

well as preparation of vouchers.
● A comprehensive project taking any sole proprietorship business and this Accounts
project for Class 12 must state the following:
1. Journal Entries
2. Ledgers
3. Preparation of Trade Balance
4. Balance Sheet
5. Trading Account
6. Profit and Loss Account
7. Use Pie Chart or Bar Diagram to show Incomes, Profit or Lose and Assets and
Liabilities
● Prepare a bank reconciliation statement using a given cashbook as well as the passbook
which must have 20 to 25 transactions.

Accounts Project Format

While drafting your project, you must follow a formal tone and format so that the external
examiner will be able to easily apprehend your thoughts. You can go by the below mentioned
format in your Accounts project:

Name of the Project: Choose a catchy title for it but it must be crisp and relevant to the content.

Objective: Objective refers to a short description in which you mention the basic principle and
the concepts you are aiming to explain. For Example:

The project aims to impart every student the foundational knowledge of the complete accounting
cycle and appreciate the true meaning of Accounting which seems to be a process of
classifying, summarizing and recording the accounting information as well as its analysis and
interpretation.

Period of Project: The duration that was taken to complete the project has to be mentioned
here.

Source Material: The case study based on which the accounting cycle has to be completed.
Along with this, the Accounts project of class 12 will include the sources of information you used
to gather the essential information from.

Processing Data: While collecting and processing the various data here are some important
points that you must mention-

● Ledgers
● Journals
● Trial Balance
● Final Accounts
● Adjusting Entries

Tools of Analysis: You can use Pie charts, bar graphs and pictorial graphs as your representing
tools.

Processing Formats

a) Journal Rankings

Note: It is mandatory to write the narration for every journal entry.

b) Ledger Accounts

While completing your Accounts Project Class 12, you must keep in mind to prepare the ledgers
in the following orders:

● Real Accounts
● Personal Accounts
● Nominal Accounts

For personal or real accounts, keep in mind the to carry the closing balance of the current years
as the opening balance of the next year and then close the account.

For normal accounts transfer the balance of the account to the trading account or the profit and
loss account

c)Trial Balance

Trial Balance of ———- as at

 d) Adjusting Journal Entries

● When preparing your Accounts Project Class 12, students must keep in mind that the
format is the same as journal entries
● It is compulsory to write the narration for these entries

e) Final Accounts: Trading Account, Profit and Loss Account along with Balance Sheet

Trading and Profit and Loss Account of——-

For the year ending—–