Financial Accounting & Analysis | NMIMS Assignment Help June 2023 Questions
Q1. Analyse the following transactions for Surprise Ltd. using the concept of Accounting Equation comprising of Assets, Liabilities and Equity.
- Commenced business with cash of ₹ 5,00,000.
- Purchased equipment for cash ₹ 2,00,000.
- Purchased furniture worth ₹50,000 on credit from IndiMart.
- Purchased raw materials for ₹25,000 against cash from XYZ Suppliers.
- Deposited cash of ₹ 1,25,000 in the current account.
- Sold goods for ₹75,000 and received a cheque against the same.
Q2. Prepare a vertical balance sheet from the following information:
|Share Premium Account||5,000||Land and Building||80,000|
|General Reserve||60,000||Plant (at cost less dep.)||44,000|
|Profit and Loss account||17,000||Furniture (at cost less dep.)||3,000|
|6% Debenture||50,000||Investment (Trade)||80,000|
|Bank Loan (Long Term)||35,000||Debtors||70,000|
|Sundry Creditors||60,000||Cash at Bank||40,000|
|Provision for Taxation||10,000||Prepaid expenses||5,000|
|Total Rs.||4,07,000||Total Rs.||4,07,000|
Q3. A) Prepare a comparative income statement for any company extracting their P&L statement for the years 2020-21 & 2021-22. Analyse the incline and decline in the different elements in the P&L Statement and provide detailed insights
Q3. B) Prepare a trend analysis statement for any the same company extracting their P&L statement for the years 2019-20, 2020-21 & 2021-22. Analyse the incline and decline in the different elements in the P&L Statement and provide detailed insights.