Financial Accounting & Analysis
June 2023 Examination
Q1. Analyse the following transactions for Surprise Ltd. using the concept of Accounting
Equation comprising of Assets, Liabilities and Equity. (10 Marks)
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.
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Q2. Prepare a vertical balance sheet from the following information: (10 Marks)
| Liabilities | Rs. | Assets | Rs. |
| Share capital | 1,50,000 | Goodwill | 20,000 |
|
Share Premium Account |
5,000 |
Land and Building |
80,000 |
|
General Reserve |
60,000 |
Plant (at cost less dep.) |
44,000 |
|
Profit and Loss account |
17,000 |
Furniture (at cost less dep.) |
3,000 |
|
6% Debenture |
50,000 |
Investment (Trade) |
80,000 |
|
Bank Loan (Long Term) |
35,000 |
Debtors |
70,000 |
|
Bank Overdraft |
20,000 |
Stock |
60,000 |
|
Sundry Creditors |
60,000 |
Cash at Bank |
40,000 |
|
Provision for Taxation |
10,000 |
Prepaid expenses |
5,000 |
|
Preliminary expenses |
5,000 |
||
| Total Rs. | 4,07,000 | Total Rs. | 4,07,000 |
Q3. 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. (5 Marks)
Q3. B) Prepare a trend analysis statement for any the same company extracting their P&L
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.
(5 Marks)