Description
Assignment Solution : Financial accounting september 2023
NMIM$ Global Access
School for Continuing Education (NGA-SCE)
Course: Financial accounting september 2023
Internal Assignment Applicable for september 2023 Examination
Q.1) Provide the journal entries for the following along with detailed Transaction in the books Tristar Industries Ltd.
| 05 January 2023 | Commenced business by issuing equity capital worth 25 lakhs. This amount was transferred to the current account of the business. |
| 07 January 2023 | Purchased goods worth ₹150000 on credit from Ms. Greenest Co. |
| 11 January 2023 | Sold goods to Ashray Co. for ₹575000 on credit. |
| 13 January 2023 | Purchased Machinery worth ₹725000 from ICK and cheque was issued to them for the full payment. |
| 20 January 2023 | Purchased shares of ALZ Ltd. for ₹345000 for long term investment. |
| 29 January 2023 | Paid salaries ₹125000 and rent ₹35500 from the bank account of business |
Q2. Ratio analysis is an important aspect of fundamental analysis prior to considering any company for investment. using the following balance sheet & Profit & loss of the company compute the following ratios for the years 2021-22 & 2020-21 and provide your analysis:
- Current Ratio
- Debt-Equity Ratio
- Net Profit Ratio
- Operating Profit Ratio
- Earnings per share
3. Cash flow statement complements the income statement and the balance sheet summarizing all cash inflows and outflow transactions in the company within the given financial year. However, there are two different methods of preparing the cash flow statement – direct and indirect.
A) Enlist the differences between Direct and Indirect method of cash flow statement. (5 Marks)
b. Let’s consider the case of XYZ Ltd., a manufacturing company based in India. In the fiscal year 2022, XYZ Ltd. raised INR 50 crores by issuing new equity shares and INR 100 crores by taking on long-term debt. The company also repaid INR 80 crores in long-term debt and paid INR 30 crores in dividends to shareholders. Calculate the cash flows from financial activities for the company.
Last date : 29th August
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