Financial Accounting Solved Assignment

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Financial Accounting
Question 1
The junior accountant of your company is facing trouble in preparing cash flow statement due to difference between the book profits and cash profits of the company. You being the accounts manager suggest him on the necessary -
Reasons for difference between the book profits and cash profits.
Steps to be taken for preparing cash flow statement from the balance sheet and income statement.
Question 2
It is important to differentiate between the capital and revenue items. Mr. Siddharth purchased Epson Pro WF-6590 at Rs 50200, extra printer cartridges Rs 5000 for his business and want to treat the same as revenue expenditure. Discuss, Whether he is correct or not? Discuss why it is necessary to differentiate between the capital and revenue items? How these items are to be recognised in books of accounts, provided the rate of depreciation on printer and related assets is 10 % p.a.? Give reasons supporting the same

Question 3
From the following information
Liabilities Amount Assets Amount
Equity share Capital 225000 Fixed assets (Net depreciation) 226000
Reserves & Surplus 105000 Stock 48000
Bank Over draft 115000 Debtors 72000
Creditors 55000 Bank 154000
Total 500000 Total 500000

Calculate a) Proprietary ratio and Interpret the ratio s calculated.
b) Current asset ratio and Interpret the ratio s calculated.

Need Answer Sheet of this Question paper
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