Analysis of Financial Statement Universities Past Papers
Q.1 Differentiate the following…
- a) Income statement / Balance sheet
- b) Long-term liabilities / fixed assets
- 2 Why companies require financial liability analysis? What is its impact on the balance sheet?
- 3 a) ABC company purchased a Machine on cash payment of Rs.12000 with an estimated life of 5 years and residual value Rs. 2000 on 1st July 2001. The machine was discarded on April 30th, 2003. Calculate and record depreciation expense for the years 2001, 2002 and 2003. ( The company used the straight-line method)
- b) On Jan 1, 2013, a merchant purchased Plant & Machinery costing Rs. 50000. It was decided to depreciate it @20 % p.a. show the plant and machinery account for the first three years under diminishing / double decline method.
Q .4 Discuss in detail different forms of the income statement and balance sheet with an example.
Q. 5 What are the effects of revaluation of assets on financial statements? Explain in detail.
Q.6. a) Sara & Majid started a partnership business on Jan, 1, 2014. Sara contributed Rs. 5000; Furniture valued Rs. 10000 & Majid brought Rs. 40000 in cash& Land worth Rs. 80000. Journalize the transaction and also record in balance sheet.
- b) A & B are partners in a business with capitals of Rs. 50000 & Rs. 30000 respectively. The net income earned for the year 2014 is Rs. 25000. Prepare journal entries under each of the following cases:
- If the profit sharing ratio is 3:2;
- If the profit sharing ratio is 70% to A & 30% to B;
- Up to Rs. 20000 in the ratio of 3:2 & remaining equally
- 8 Write short notes on any two of the followings
- The significance of financial statements in evaluating the health of the organization
- Components of trading & profit/ loss statement
- Purpose of common size analysis
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I welcome to all of you if you want to discuss about any topic. Researchers, teachers and students are allowed to use the content for non commercial offline purpose. Further, You must use the reference of the website, if you want to use the partial content for research purpose.
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