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Financial Accounting Analysis Internal Assignment June
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Assignment Task
1. 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.
2. Prepare a vertical balance sheet from the following information:
| Share capital | 150000 | Goodwill | 20000 |
| share premimum account | 5000 | Land and building | 80000 |
| General Reserve | 60000 |
Plant At cost less dep |
44000 |
| Profit and Loss Account | 17000 | Furniture(at cost less dep) | 3000 |
| 6?benture | 50000 | Investment(Trade) | 80000 |
| Bank Loan | 35000 | Bebots | 70000 |
| Bank Overdraft | 20000 | Stock | 60000 |
| Sundry Creditors | 60000 | Cash at Bank | 40000 |
| Privission for Taxation | 10000 | Prepaid expenses | 5000 |
| Totoal Rs. | 407000 | Totoal Rs. | 407000 |
3. 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.
B. Prepare a trend analysis statement for any the same company extracting their PL 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.
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