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Financial Accounting & Analysis
September
2023 Examination
Q1. Provide the journal entries for the following
along with detailed narration in the books Tristar Industries Ltd. (10 Marks)
|
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 Machinary 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 |
Ans:
Introduction:
Tristar Industries Ltd. is a fictional company
that is the subject of the journal entries discussed in this context. These
journal entries aim to file the financial transactions and sports of Tristar
Industries Ltd. all through the desired period. The entries exhibit the
company's initial capitalization, purchases and income of goods, acquisition of
assets, investments, and charge of expenses.
Financial file-keeping through journal entries
is essential to accounting, permitting businesses to hold correct and organized
economic information. Those records provide insights into the company's
financial performance, profitability, and overall economic health. They also
serve as
Q2. Ratio analysis is an important aspect of
fundamental analysis prior to considering any company for investment. Select
any company of your choice and using the balance sheet & Profit & loss
of the company compute the following ratios for the years 2021-22 & 2020-21
and provide your analysis: (10 Marks)
1. Current Ratio
2. Debt-Equity Ratio
3. Net Profit Ratio
4. Operating Profit Ratio
5. Earnings per share
Ans:
Introduction:
Ratio
analysis is a crucial tool trader and financial analysts use to assess a
company's financial performance and make informed investment selections. It
includes analyzing economic statements, including the balance sheet and
earnings and loss declaration, to calculate various monetary ratios. These
ratios help in the knowledge of a company's liquidity, solvency, profitability,
and efficiency. By comparing ratios over exceptional intervals or benchmarking
them against industry averages, investors can gain valuable insights into a
company's financial health and capability to generate returns.
Concept &
application:
Ratio analysis is a fundamental tool
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Q3.
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)
Ans:
Introduction:
The
cash flow statement is an essential financial statement that complements the
income assertion and stability sheet in summarizing all cash inflows and
outflow transactions inside a given financial year. It presents treasured
insights into a corporation's liquidity, operating activities, investing
sports, and financing activities. The cash flow declaration facilitates
B) Lets 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. (5 Marks)
Ans:
Introduction:
XYZ
Ltd. is a manufacturing company based totally in India. During the financial
year 2022, the corporation raised its price range through various economic
activities, including issuing the latest equity stocks and taking on lengthy-time
debt. Additionally, the company made payments on its lengthy-term debt and paid
dividends to its shareholders. In this analysis, we can calculate the
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