Financial Accounting & Analysis | NMIMS Assignment Help April 2023 Question
1. Prepare the journal by recording the following transactions
TABLE BELOW
| 3-Dec | Mrs. Vinita started business by transferring amount from her saving account to the business bank account Rs500000 |
| 5-Dec | She Purchased godown to stock goods worth Rs 100000 |
| 7-Dec | She purchased goods for sale, costing her Rs 300000 |
| 8-Dec | She sold off the entire goods at Rs 500000,credit sales |
| 10-Dec | She paid salary to employees Rs 20000 through bank account |
2. Company DreamHigh Pvt. limited wants to distribute dividend to its shareholders. There are two types of dividend, which a shareholder can receive in any accounting year. Discuss the term dividend, its types, accounting treatment of dividend in the books of accounts and a brief towards how cash flow on account of dividend is reflected in the cash flow of a company
3. Following are the particulars available for Z and X, LLP
| retained earnings | 668 |
| accounts receivable | 240 |
| Supplies | 500 |
| salaries payable | 167 |
| Equipment | 1000 |
| unearned revenue | 475 |
| accounts payable | 200 |
| Cash | 1170 |
| prepaid insurance | 100 |
| common stock | 1500 |
a. Calculate the amount of –
- total assets
- total liabilities excluding stockholder equity
- total stockholders’ equity
b. Discuss the advantages of preparing the Balance Sheet.