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Financial Accounting and Analysis Assignment - NMIMS Global Access School
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Assignment Task
Questions
Analyze 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.
2. Prepare a vertical balance sheet from the following information:
| Liabilities | Rs. | Assets | Rs. |
| Share capita | 1,50,000 | Goodwil | 80,000 |
| Share Premium Account | 5,000 | Land and Building | 44,000 |
| General Reserve | 60,000 | Plant (at cost less dep.) | 3,000 |
| Profit and Loss account | 17,000 | Furniture (at cost less dep.) | 80,000 |
| 6?benture | 50,000 | Investment (Trade) | 70,000 |
| Bank Loan (Long Term) | 35,000 | Debtors | 60,000 |
| Bank Overdraft | 20,000 | Stock | 40,000 |
| Sundry Creditors | 60,000 | Cash at Bank | 5,000 |
| Provision for Taxation | 10,000 | Prepaid expenses | 5,000 |
| Total Rs. | 4,07,000 | Total Rs. | 4,07,000 |
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 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.
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