Financial Accounting - NMIMS April 2018 Solved Assignments

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GET SOLVED ASSIGNMENTS VISIT WWW.SMUSOLVEDASSIGNMENTS.COM Or Mail us at [email protected] YOU MAY CALL US ON - 7506193173 WHATSAPP NUMBER- 9967480770 Internal Assignment Applicable for April 2018 Examination Financial Accounting 1. Amey Ltd is in the business of manufacturing silver utensils. Describe which Accounting Standard would be applicable on the company for the purpose of Valuation of its inventories as the company has to prepare and present its financial statements on time. Also, explain the cases which are out of the purview of the relevant accounting standard . (10 Marks) 2. How a particular Cash Flow of any organization can be constructed? What Objective management needs to keep for a Cash Flow Statement along with control aspects over cash from operations? (10 Marks) 3. a) Discuss the peculiar Accounting Concept with a suitable example which justify Longitivity of Corporate Life ? (5 Marks) 3. b) The following Ledger balances have been extracted from H. Lokhandwala as on 31-3-13. The Final Amount Required to Balance to be considered as Capital. Particulars Rs. Purchases 70000 Stock on 1-4-1996 14000 Sales 105000 Sundry Debtors 23800 Discount received 3500 Carriage outward 700 Cash in hand 3500 Machinery 24500 Prov. For Depreciation on M/C 4200 Drawings 7700 Returns Inward 3500 Premises 28000 Sundry Creditors 16100 Discount allowed 2800 Carriage Inward 1400 Cash at Bank 17500 Sundry Expenses 2100 Bad debts written off 2450 Provision for doubtful debts 2380 Discuss the technique (along with the necessary steps to apply the same) frequently used in financial accounting to check the arithmetic balances of accounts and in your final answer mention the value of capital . What if, the arithmetic accuracy is not checked? Mention the consequences, if any. GET SOLVED ASSIGNMENTS VISIT WWW.SMUSOLVEDASSIGNMENTS.COM Or Mail us at [email protected] YOU MAY CALL US ON - 7506193173 WHATSAPP NUMBER- 9967480770

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GET SOLVED ASSIGNMENTS VISIT WWW.SMUSOLVEDASSIGNMENTS.COM Or Mail us at [email protected] YOU MAY CALL US ON - 7506193173 WHATSAPP NUMBER- 9967480770 Internal Assignment Applicable for April 2018 Examination Financial Accounting 1. Amey Ltd is in the business of manufacturing silver utensils. Describe which Accounting Standard would be applicable on the company for the purpose of Valuation of its inventories as the company has to prepare and present its financial statements on time. Also, explain the cases which are out of the purview of the relevant accounting standard . (10 Marks) 2. How a particular Cash Flow of any organization can be constructed? What Objective management needs to keep for a Cash Flow Statement along with control aspects over cash from operations? (10 Marks) 3. a) Discuss the peculiar Accounting Concept with a suitable example which justify Longitivity of Corporate Life ? (5 Marks) 3. b) The following Ledger balances have been extracted from H. Lokhandwala as on 31-3-13. The Final Amount Required to Balance to be considered as Capital. Particulars Rs. Purchases 70000 Stock on 1-4-1996 14000 Sales 105000 Sundry Debtors 23800 Discount received 3500 Carriage outward 700 Cash in hand 3500 Machinery 24500 Prov. For Depreciation on M/C 4200 Drawings 7700 Returns Inward 3500 Premises 28000 Sundry Creditors 16100 Discount allowed 2800 Carriage Inward 1400 Cash at Bank 17500 Sundry Expenses 2100 Bad debts written off 2450 Provision for doubtful debts 2380 Discuss the technique (along with the necessary steps to apply the same) frequently used in financial accounting to check the arithmetic balances of accounts and in your final answer mention the value of capital . What if, the arithmetic accuracy is not checked? Mention the consequences, if any. GET SOLVED ASSIGNMENTS VISIT WWW.SMUSOLVEDASSIGNMENTS.COM Or Mail us at [email protected] YOU MAY CALL US ON - 7506193173 WHATSAPP NUMBER- 9967480770

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