NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2016 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
1. From the following balances extracted from the book of Alfa traders as on 31
st
March
2016, prepare the final accounts of the concern. (10 Marks)
Particulars Debit(Rs) Credit(Rs)
Capital Account 500000
Plant & Machinery 410000
Opening Stock 25000
Sundry Debtors 34200
Cash in hand 5000
Cash at Bank 48000
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2016 Examination
Purchases 42000
Sales 80000
Sundry Creditors 20500
Drawings 5200
Rent 6000
Factory Lighting &
Heating 5000
Advertising 10500
Bad Debts 15000
Discount Received 5400
TOTAL (Rs) 605900 605900
The following adjustments are to be made:
a. Closing Stock Rs.50600
b. Rent due but not paid upto 31
st
March 2016 Rs.500
c. Advertisement paid in advance Rs. 2000
d. Depreciate plant & machinery by 10%, furniture by 5% .
e. Write off further bad debts Rs.500
2. Mr. James & Mr. Jiggar are the directors of Balajii Auto Pvt Limited. They
want to
make certain strategic decisions and to implement certain controls within the company.
Meeting of all BOD’s is called. Mr. Ajay being the accounts executive of the company
keeps the audited financial statements ready following all the essentials of
financial
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2016 Examination
accounting. Mr. Ajay was about to present the audited financial statement in the
management’s meeting but his senior colleague suggests him that in such a meeting he
should present projected statements as well as all other such reports which the
management needs, as management accounting is differ from financial accounting.
Discuss who is correct Mr. Ajay or his senior colleague and why? Explain the same in
detail.
(10 Marks)
3. a) Aditya Ltd is a FMCG company. The company is about to start a new line
of
production and is supposed to close its one of its production unit. The following
information about Aditya ltd is provided.
Installed a new plant worth 500lacs, however paid only 450 lacs for the same. The
company spent 50 lacs for the construction of new shed, one of the machinery acquired in
the 2005, at a cost of 85 lacs having written down value if 25 lacs as on date is sold at a
profit of 10 Lacs .The company also paid interest on debentures, being the source
of
capital Rs10 lacs. It also acquired 5 % shares of Birla ltd at a value of 50
Lacs and
received Rs 25 lacs on account of maturity of one of the saving bonds. Calculate the net
cash flow from investing activities.
3. b) The Balance Sheet of XY Ltd is as under
Equity Share Capital 3000000 Fixed Assets 2500000
9 % Debentures 1500000 Stock 1500000
Reserves & Surplus 500000 Debtors 1000000
Creditors 1500000 Bills Receivable 500000
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2016 Examination
Outstanding Expenses 200000 Cash & Bank 1200000
6700000 6700000
Calculate the following
1. Current ratio
2. Liquid ratio
3. Solvency ratio (5 Marks)
******************
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2016 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
1. From the following balances extracted from the book of Alfa traders as on 31
st
March
2016, prepare the final accounts of the concern. (10 Marks)
Particulars Debit(Rs) Credit(Rs)
Capital Account 500000
Plant & Machinery 410000
Opening Stock 25000
Sundry Debtors 34200
Cash in hand 5000
Cash at Bank 48000
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2016 Examination
Purchases 42000
Sales 80000
Sundry Creditors 20500
Drawings 5200
Rent 6000
Factory Lighting &
Heating 5000
Advertising 10500
Bad Debts 15000
Discount Received 5400
TOTAL (Rs) 605900 605900
The following adjustments are to be made:
a. Closing Stock Rs.50600
b. Rent due but not paid upto 31
st
March 2016 Rs.500
c. Advertisement paid in advance Rs. 2000
d. Depreciate plant & machinery by 10%, furniture by 5% .
e. Write off further bad debts Rs.500
2. Mr. James & Mr. Jiggar are the directors of Balajii Auto Pvt Limited. They
want to
make certain strategic decisions and to implement certain controls within the company.
Meeting of all BOD’s is called. Mr. Ajay being the accounts executive of the company
keeps the audited financial statements ready following all the essentials of
financial
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2016 Examination
accounting. Mr. Ajay was about to present the audited financial statement in the
management’s meeting but his senior colleague suggests him that in such a meeting he
should present projected statements as well as all other such reports which the
management needs, as management accounting is differ from financial accounting.
Discuss who is correct Mr. Ajay or his senior colleague and why? Explain the same in
detail.
(10 Marks)
3. a) Aditya Ltd is a FMCG company. The company is about to start a new line
of
production and is supposed to close its one of its production unit. The following
information about Aditya ltd is provided.
Installed a new plant worth 500lacs, however paid only 450 lacs for the same. The
company spent 50 lacs for the construction of new shed, one of the machinery acquired in
the 2005, at a cost of 85 lacs having written down value if 25 lacs as on date is sold at a
profit of 10 Lacs .The company also paid interest on debentures, being the source
of
capital Rs10 lacs. It also acquired 5 % shares of Birla ltd at a value of 50
Lacs and
received Rs 25 lacs on account of maturity of one of the saving bonds. Calculate the net
cash flow from investing activities.
3. b) The Balance Sheet of XY Ltd is as under
Equity Share Capital 3000000 Fixed Assets 2500000
9 % Debentures 1500000 Stock 1500000
Reserves & Surplus 500000 Debtors 1000000
Creditors 1500000 Bills Receivable 500000
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2016 Examination
Outstanding Expenses 200000 Cash & Bank 1200000
6700000 6700000
Calculate the following
1. Current ratio
2. Liquid ratio
3. Solvency ratio (5 Marks)
******************
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