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NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course : 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 3in not more than 500 words
for each subsection. Use relevant examples, illustrations as far aspossible.
·
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 theirassignments, 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 otherstudents is not allowed.
Q1. From the
following balances extracted from the book of Alfa traders as on 31st March 2016, prepare the final accounts of the concern. (10 Marks)
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410000
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25000
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34200
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5000
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48000
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Purchases
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42000
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Sales
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80000
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Sundry
Creditors
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20500
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Drawings
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5200
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Rent
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6000
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Factory
Lighting & Heating
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5000
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Advertising
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10500
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Bad
Debts
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15000
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Discount
Received
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5400
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TOTAL (Rs)
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605900
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605900
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The following
adjustments are to be made:
a. Closing Stock Rs.50600
b. Rent due but not paid upto 31st 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
Answer –
Trading & Profit & Loss
A/c
Q2. 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 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)
Answer – Directors of Balajii Auto Pvt Limited, Mr. James
and Mr. Jiggar decided to make a corporate strategic decision so that they
would be able to do necessary implementations of controls in their organization.
In the board of director’s meeting, Mr. Ajay is going to present his audited
financial statement to the management team to give them insights of financial
stats but his colleague prevents him from doing so. His colleague gave the
reason that he could not present the report since management accounting is far
much different from financial accounting.
In this case, Mr. Ajay needs to stay on
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.
Answer –
Cash flow from
Calculate the following
1. Current ratio
2. Liquid ratio
3. Solvency
ratio (5 Marks)
Answer –
1. Current Ratio
=>
Current Assets
=>
Dear students get fully solved assignments
Send your semester & Specialization name to our
mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601
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