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    Internal Test - 2 - FSA - Question

    Uploaded by

    Sandeep Choudhary
    1. The business started with equity of Rs. 1 crore and a loan of Rs. 50 lacs at 13% interest over 20 years. Various business activities and transactions occurred throughout the year. 2. As of December 31, 2019, the business has Rs. 12.155 crore in cash, Rs. 2.5 crore in fixed deposits, machinery worth Rs. 1.2 crore, and inventory of Rs. 625,000. Total assets are Rs. 16.93 crore. 3. Liabilities include the Rs. 5 crore loan and deferred salaries of Rs. 360,000. Equity is Rs. 10 crore with retained losses of Rs. 555,000

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    Internal Test - 2 - FSA - Question

    Uploaded by

    Sandeep Choudhary
    576 views3 pages
    1. The business started with equity of Rs. 1 crore and a loan of Rs. 50 lacs at 13% interest over 20 years. Various business activities and transactions occurred throughout the year. 2. As of December 31, 2019, the business has Rs. 12.155 crore in cash, Rs. 2.5 crore in fixed deposits, machinery worth Rs. 1.2 crore, and inventory of Rs. 625,000. Total assets are Rs. 16.93 crore. 3. Liabilities include the Rs. 5 crore loan and deferred salaries of Rs. 360,000. Equity is Rs. 10 crore with retained losses of Rs. 555,000

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    internal test 2 case

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    1. The business started with equity of Rs. 1 crore and a loan of Rs. 50 lacs at 13% interest over 20 years. Various business activities and transactions occurred throughout the year. 2. As of December 31, 2019, the business has Rs. 12.155 crore in cash, Rs. 2.5 crore in fixed deposits, machinery worth Rs. 1.2 crore, and inventory of Rs. 625,000. Total assets are Rs. 16.93 crore. 3. Liabilities include the Rs. 5 crore loan and deferred salaries of Rs. 360,000. Equity is Rs. 10 crore with retained losses of Rs. 555,000

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    576 views3 pages

    Internal Test - 2 - FSA - Question

    Uploaded by

    Sandeep Choudhary
    1. The business started with equity of Rs. 1 crore and a loan of Rs. 50 lacs at 13% interest over 20 years. Various business activities and transactions occurred throughout the year. 2. As of December 31, 2019, the business has Rs. 12.155 crore in cash, Rs. 2.5 crore in fixed deposits, machinery worth Rs. 1.2 crore, and inventory of Rs. 625,000. Total assets are Rs. 16.93 crore. 3. Liabilities include the Rs. 5 crore loan and deferred salaries of Rs. 360,000. Equity is Rs. 10 crore with retained losses of Rs. 555,000

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 3

    Sr No Date Business Activity

    1 1-Jan-19 You started a business with 1cr as equity and 50 lacs as loan @ 13% P.A as
    interest payable in 20 years
    2 2-Jan-19 You invested 25 Lacsin FD for 2 years. Interest rate 10% paid anually
    3 2-Jan-19 You bought a machinery at a cost of 15 lacs with a usefull life 10 years and
    salvage value of 0
    4 2-Jan-19 You paid rent of 12 lacs anually, which includes 9 lacs of rent for 2019 and
    deposit of 3 lacs
    5 3-Jan-19 You receive 30 lacs as consulting income for 2 years
    6 8-Jan-19 You receive 50 telivisons at a cost of 25 thousand. 50% paid in cash and 50% to
    paid next year
    7 13-Jan-19 Spent 30 thousand on marketing expenses
    8 18-Jan-19 Sell 25 telivisions at 50 thousand each
    9 23-Jan-19 Hire three workers at a salary of 12 lacs in total to be paid in 70% in cash and
    30% to be paid next year
    10 31-Dec-19 Interest Income and Expense paid. Asset depreciated.

    Prepare the Income Statement, Balance Sheet and Cash Flow Statement as on 31-12-2019
    Income Statement Balance Sheet
    Liability Mo-0 Mo-1 Assets Mo-0
    consulting income 1500000 debt @ 13% 5,000,000 cash
    sales 1250000 defferd revenue 1,500,000 fixed deposits @ 10%
    interest income 250,000 ACCOUNTS PAYABLE 625,000 MACHINERY
    salaries payable 360,000 rent deposits
    inventory
    dep 150,000
    rent expenses 900,000
    marketing expenses 30,000
    cogs 625000
    salaries 1,200,000 shareholders equity 10,000,000
    interest expenses 650,000 reatained earnings (555,000)
    pat (555,000) total liability 16,930,000 total assets

    check

    840,000
    CASH Cash Flow Statement
    Mo-1
    12,155,000 10,000,000 net income (555,000)
    2,500,000 5,000,000 add: dep 150,000
    1,350,000 (2,500,000) change in inventory (625,000)
    300,000 (1,500,000) change in def revenue 1,500,000
    625,000 (1,200,000) change in accounts payable 625,000
    3,000,000 change in salaries payable 360,000
    (625,000)
    (30,000) cfo 1,455,000
    1,250,000
    (840,000) fixed deposits (2,500,000)
    (650,000) rent deposits (300,000)
    16,930,000 250,000 machinery (1,500,000)
    12,155,000 cfi (4,300,000)

    - equity 10,000,000
    debt 5,000,000
    cff 15,000,000

    net change in cash flow 12,155,000

    cash bop -
    cash eop 12,155,000

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