Financial Accounting Analysis Internal Assignment June
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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