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Financial Accounting and Analysis of DreamHigh Pvt Distribute Dividend
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Assignment Task
1. Prepare the journal by recording the following transactions
|
3-Dec |
Mrs. Vinita started business by transferring amount from her saving account to the business bank account Rs500000 |
|
5-Dec |
She Purchased godown to stock goods worth Rs 100000 |
|
7-Dec |
She purchased goods for sale, costing her Rs 300000 |
|
8-Dec |
She sold off the entire goods at Rs 500000,credit sales |
|
10-Dec |
She paid salary to employees Rs 20000 through bank account |
2. Company DreamHigh Pvt. limited wants to distribute dividend to its shareholders. There are two types of dividend, which a shareholder can receive in any accounting year. Discuss the term dividend, its types, accounting treatment of dividend in the books of accounts and a brief towards how cash flow on account of dividend is reflected in the cash flow of a company.
3. Following are the particulars available for Z and X, LLP
|
retained earnings |
668 |
|
accounts receivable |
240 |
|
supplies |
500 |
|
salaries payable |
167 |
|
equipment |
1000 |
|
unearned revenue |
475 |
|
accounts payable |
200 |
|
cash |
1170 |
|
prepaid insurance |
100 |
|
common stock |
1500 |
a. Calculate the amount of
- total assets
- total liabilities excluding stockholder equity
- total stockholders’ equity
b. Discuss the advantages of preparing the Balance Sheet.
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