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Internal Assignment Applicable for September 2020 Examination
Assignment Marks: 30
Instructions:
• All Questions carry equal marks.
• All Questions are compulsory
• All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.
• All answers to be written individually. Discussion and group work is not advisable.
• Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.
• Students should write the assignment in their own words. Copying of assignments from other students is not allowed.
• Students should follow the following parameter for answering the assignment questions.
For Theoretical Answer
For Numerical Answer
Assessment Parameter Weightage Assessment Parameter Weightage
Introduction 20% Understanding and usage of the formula 20%
Concepts and Application related to the question 60%
Procedure / Steps 50%
Conclusion 20%
Correct Answer &
Interpretation 30%
1. With the given information prepare the statement of Profit and Loss of the company in vertical format.
TABLE BELOW
Internal Assignment Applicable for September 2020 Examination
Depreciation and amortisation expenses 295600
Purchase of stock in trade 10450
Employees benefit costs 959139
Other expenses 565000
Revenue from sale of product 5000000
Other operating revenues 2500000
Cost of material consumed 1050000
Finance cost 525000
Also share your opinion on the statement – “Revenue from operations and earnings before interest, taxes, depreciation and amortization differs from each other”. How?
(10 Marks)
2. Cash flow statement is different as it classifies financial information into three major heads which allow the stakeholders in effective decision making. Discuss the broad heads as defined under AS 3 cash flow statement. What can be the potential benefits of preparing a cash flow statement? Elaborate
(10 Marks)
3. These selected condensed data are taken from a recent balance sheet of Sambhav
Realities (Rs in crores)
PARTICULARS AMOUNT
Cash 29.3
Debtors 20.5
Inventory 28.7
Prepaid expenses 24
Outstanding payments 15.5
Internal Assignment Applicable for September 2020 Examination
Trade payables 30.7
Unpaid taxes 25
Loan taken for construction of building for 11 months 50
a. Discuss about current assets and current liabilities, classify the above into current assets and current liabilities (5 Marks)
b. Calculate the working capital and current ratio (5 Marks)
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