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Financial Accounting and Analysis - 2- NMIMS Solved Assignments

Financial Accounting and Analysis - 2- NMIMS Solved Assignments

 

Question 1: The following is the Trial Balance of Mrs. Rashi as at 31st March, 2014. You are required to prepare the Profit & Loss Account and Balance Sheet as at that date.

The following adjustments are to be made:

1. Closing Stock Rs. 10,400

2. Rent due but not paid upto 31st March 2014 Rs. 400

3. Three months factory lightings & heatings are due but not paid Rs.60

4. Insurance paid in advance Rs. 20

5. Depreciate plant & machinery by 10%, furniture by 5% and motor vans by 25%.

6. Write off further bad debts Rs.140 and increase the provision for doubtful debts by Rs. 600. Discounts @ 2 1/2% on debtors & creditors are to be anticipated.

 

Question 2a): What are the main aspects of Accounting Standard 1 (AS 1)

 

Question 2b) Calculate the net cash flow from financing activities based on the below data:

1. Cash from issue of new equity shares – Rs.50,00,000

2. Cash from issue of 12% debentures – Rs.30,00,000

3. Interim dividend paid – Rs.10,00,000

4. Buy-back of existing shares – Rs.15,00,000

5. Repayment of long term loan – Rs.10,00,000

 

Question 2c): Discuss about treatment of following items in Cash Flow Statement as per AS-3.

1. Taxes on Income

2. Foreign Currency cash flow

 

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