Calculate the amount of Total assets Total liabilities e

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Financial Accounting & Analysis

1. Prepare the journal by recording the following transactions (10 Marks)
TABLE BELOW
3-Dec Mrs. Vinita started business by transferring amount from her saving
account to the business bank account Rs500000
5-Dec She Purchased go down to stock goods worth Rs 100000
7-Dec She purchased goods for sale, costing her Rs 300000
8-Dec She sold off the entire goods at Rs 500000,credit sales
10-Dec She paid salary to employees Rs 20000 through bank account

2. Company Dream High Pvt. limited wants to distribute dividend to its shareholders. There are two types of dividend, which a shareholder can receive in any accounting year. Discuss the term dividend, its types, accounting treatment of dividend in the books of accounts and a brief towards how cash flow on account of dividend is reflected in the cash flow of a company (10 Marks)
3. Following are the particulars available for Z and X, LLP
retained earnings 668
accounts receivable 240
supplies 500
salaries payable 167
equipment 1000
unearned revenue 475
accounts payable 200
cash 1170
prepaid insurance 100
common stock 1500

a. Calculate the amount of (5 Marks)
Total assets
Total liabilities excluding stockholder equity
Total stockholders equity
b. Discuss the advantages of preparing the Balance Sheet. (5 Marks)

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