Dear Students,
Get fully solved assignments by professionals providing since 2012 — trusted by
over 10,000+ students!
100%
plagiarism-free or your money back!
Send
your queries to: help.mbaassignments@gmail.com
( Call/WhatsApp: 08263069601
Fast,
reliable, and guaranteed quality!
Financial Accounting
Jun 2025 Examination
PLEASE NOTE: This assignment is application based, you
have to apply what you have learnt in this subject into real life scenario. You
will find most of the information through internet search and the remaining
from your common sense. None of the answers appear directly in the textbook
chapters but are based on the content in the chapter
Q1.
Financial Analysis of AlphaEx Ltd.
You are given the following partial
financial information for AlphaEx Ltd.
for the year ended March 31, 2024:
Required:
1.
Compute the Cost of Goods Sold (COGS) and Gross Profit for the year ended March 31, 2024.
(2 Marks)
2.
Prepare the Income Statement
(from Net Sales down to Net Income) for the year ended March 31, 2024. Clearly
show each line item, including your calculations for Cost of Goods Sold, Gross Profit, Operating Income, and Net Income after
tax. (3 Marks)
3.
Calculate the ending Retained Earnings
on March 31, 2024, after the company closes its Net Income into Retained
Earnings. Show your computation step by step. (2 Marks)
4.
Using the year-end balances, compute and interpret two financial ratios—for example, the Current Ratio and the Debt-to-Equity Ratio. In a brief
paragraph, discuss what these ratios indicate about AlphaEx Ltd.’s liquidity and long-term solvency. (3 Marks)
Total
Marks: 10
1.
Income Statement (Partially Reported)
|
Item |
Amount (₹) |
|
Net Sales |
9,00,000 |
|
Beginning Inventory (April 1, 2023) |
60,000 |
|
Net Purchases |
3,20,000 |
|
Ending Inventory (March 31, 2024) |
50,000 |
|
Operating Expenses (excluding
depreciation) |
1,40,000 |
|
Depreciation Expense |
30,000 |
|
Interest Expense |
20,000 |
|
Income Tax Rate |
25% |
2.
Balance Sheet (Selected Items as at March 31, 2024)
|
Item |
Amount (₹) |
|
Cash & Cash Equivalents |
1,00,000 |
|
Accounts Receivable |
80,000 |
|
Inventory |
50,000 |
|
Property, Plant & Equipment (net) |
4,00,000 |
|
Accounts Payable |
40,000 |
|
Long-Term Debt |
2,00,000 |
|
Common Stock |
1,50,000 |
|
Retained Earnings (at the beginning) |
80,000 |
Q2A. A mid-sized manufacturing
company has suffered significant losses over the past two years, casting doubt
on its ability to continue as a going concern. Critically examine how the
concept of going concern influences the accounting process in such a situation.
In your analysis, discuss the ethical and professional judgments an accountant
must make when deciding whether the business should continue applying going
concern assumptions in its financial statements. (5 Marks)
Q2B. Financial accounting is based
on fundamental principles and assumptions that guide the preparation of
financial statements. However, with the rapid advancement of technology and the
increasing complexity of modern business transactions, some argue that
traditional accounting frameworks may no longer be sufficient. Critically
evaluate the relevance of traditional financial accounting principles (such as
the historical cost principle, accrual basis, and consistency) in today’s
business environment. In your response, analyze potential modifications or
alternative approaches that could enhance financial reporting accuracy and
decision-making for stakeholders. (5 Marks)
Dear Students,
Get fully solved assignments by professionals providing since 2012 — trusted by
over 10,000+ students!
100%
plagiarism-free or your money back!
Send
your queries to: help.mbaassignments@gmail.com
( Call/WhatsApp: +918263069601
Fast,
reliable, and guaranteed quality!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.