You being the senior manager of Abacus Ltd, a company listed at BSE.As a matter of compliance you have to prepare the financial statements as per the guidelines given by the Companies Act 2013

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Financial Accounting and Analysis

Question 1
Pass necessary adjustment entries with narrations for the following adjustments:
(10 Marks)
1. Salaries outstanding Rs.250000
2. Prepaid Insurance Rs.40000
3. Interest accrued on investments Rs.50000
4. Commission received in advance Rs.28500
5. To provide 10% interest on capital of Rs.5500000
Question 2
You being the senior manager of Abacus Ltd, a company listed at BSE.As a matter of compliance you have to prepare the financial statements as per the guidelines given by the Companies Act 2013. Discuss at least ten instructions given under the respective section/schedule of the Act with regard to preparation and presentation of financial statement. (10 Marks)
Question 3
a) For the year 2014-15, Tatoo’s limited earns Rs50 lacs before tax. Additional information available –
50000 Equity shares issued on 1.1.2010 @ Rs 100
Interest payable on Debentures @ 10 % on debentures worth 50Lacs
Corporate Tax 33.33 %.
Compute EPS (5 Marks)

b) While preparing cash flow statement as per the AS-3 sufficient care is required to be taken with regard to non-cash transactions and extra-ordinary item. Discuss, with examples, how the items Non cash transactions and Extra-ordinary items are treated as per the Accounting standard 3. (5 Marks)



Assignment Solutions, Case study Answer sheets
Project Report and Thesis - Contact
ARAVIND – 09901366442 – 09902787224


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