Q1. Analyse the following transactions for Surprise Ltd. using the concept of Accounting Equation comprising of Assets, Liabilities and Equity. NMIMS Unique Assignments

 

NMIMS Solved Assignments

NMIMS Customized Assignments

Semester 1 NMIMS Unique Assignments

 NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Financial Accounting & Analysis

Internal Assignment Applicable for June 2023 Examination

 Q1. Analyse the following transactions for Surprise Ltd. using the concept of Accounting Equation comprising of Assets, Liabilities and Equity.

1. Commenced business with cash of ₹ 5,00,000.

2. Purchased equipment for cash ₹ 2,00,000.

3. Purchased furniture worth ₹50,000 on credit from IndiMart.

4. Purchased raw materials for ₹25,000 against cash from XYZ Suppliers.

5. Deposited cash of ₹ 1,25,000 in the current account.

6. Sold goods for ₹75,000 and received a cheque against the same.

 

Q2. Prepare a vertical balance sheet from the following information:

 

Liabilities	Rs.	Assets	Rs.
Share capital Share Premium Account General Reserve Profit and Loss account 6% Debenture Bank Loan (Long Term) Bank Overdraft Sundry Creditors Provision for Taxation	1,50,000 5,000 60,000 17,000 50,000 35,000 20,000 60,000 10,000	Goodwill Land and Building Plant (at cost less dep.) Furniture (at cost less dep.) Investment (Trade) Debtors Stock Cash at Bank Prepaid expenses Preliminary expenses	20,000 80,000 44,000 3,000 80,000 70,000 60,000 40,000 5,000 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.