Financial Accounting & Analysis

NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Financial Accounting & Analysis

Internal Assignment Applicable for April 2023 Examination

Assignment Marks: 30

Instructions:

All Questions carry equal marks. All Questions are compulsory

All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.

All answers to be written individually. Discussion and group work is not advisable.

Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.

Students should write the assignment in their own words. Copying of assignments from other students is not allowed.

Students should follow the following parameter for answering the assignment questions.

 

For Theoretical Answer

Assessment Parameter	Weightage
Introduction	20%
Concepts and Application related to the question	60%
Conclusion	20%

For Numerical Answer

Assessment Parameter	Weightage
Understanding and usage of the formula	20%
Procedure / Steps	60%
Correct Answer & Interpretation	20%

1. Prepare the journal by recording the following transactions (10 Marks)

TABLE BELOW

 

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

1. 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 (10 Marks)

1. 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 –			(5 Marks)

total assets

total liabilities excluding stockholder equity

total stockholders’ equity

b. Discuss the advantages of preparing the Balance Sheet.

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(5 Marks)