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School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2019 Examination
Assignment Marks: 30
1. Wildcat Ltd, a manufacturing company sold a
machinery for Rs 8 lacs at the year end. The company had purchased the
machinery four years back for Rs 15 lacs and had depreciated the same using
written down value method of depreciation @ 20%. As an accounts executive of
Wildcat Ltd, calculate the WDV of the asset for the four years, accumulated
depreciation for four years and profit/loss on sale, if any. (10 Marks)
2. Mr. Shil Wants to record the financial
transactions of his newly started business. Discuss what accounting
steps/stages he need to adhere so that the transactions can be duly recorded
and processed in order to prepare the financial statements. (10 Marks).
3
a. Following information is available in respect of
a company named, as Beta Ltd
|
Particulars
|
Amount
|
|
Profit before taxes
|
Rs 50 lakhs
|
|
Dividend declared per share
|
Rs2
|
|
Price of the share prevalent on stock exchange
|
Rs 200
|
|
Applicable tax rate
|
35%
|
|
Share capital of company 5 lakh shares of Rs 10 each
|
Calculate:
· Earnings
per share
· Dividend
Pay-out Ratio
· Price
earnings ratio (5 Marks)
b. Prepare the cash flow statement from investing
activities of Alpha Creative Ltd for the year ended March31, 2019
|
Particulars
|
Amount
|
|
Plant
acquired
|
160000
|
|
Claim
received for loss of plant in fire
|
45500
|
|
Unsecured
loans given to subsidiaries
|
595000
|
|
Interest
on loan received from subsidiary companies
|
72500
|
|
|
· Also
give reasons for the classification of above activities as inflow /outflow (5
Marks)
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