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    Specific Project 1 Phase 1

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    sreelakshmi sudheer
    Vincent and Shyam met after many years and discovered they both owned electronics stores. Vincent owned Santford Electricals and was curious how his business compared to Shyam's store. They decided to do a ratio analysis of their businesses for the year ending December 2021 using Sanford Electrical's trial balance, trading and profit/loss account, and balance sheet. The documents showed Sanford Electrical's income, expenses, assets, liabilities, and net profit for the year.

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    Specific Project 1 Phase 1

    Uploaded by

    sreelakshmi sudheer
    23 views4 pages
    Vincent and Shyam met after many years and discovered they both owned electronics stores. Vincent owned Santford Electricals and was curious how his business compared to Shyam's store. They decided to do a ratio analysis of their businesses for the year ending December 2021 using Sanford Electrical's trial balance, trading and profit/loss account, and balance sheet. The documents showed Sanford Electrical's income, expenses, assets, liabilities, and net profit for the year.

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    Vincent and Shyam met after many years and discovered they both owned electronics stores. Vincent owned Santford Electricals and was curious how his business compared to Shyam's store. They decided to do a ratio analysis of their businesses for the year ending December 2021 using Sanford Electrical's trial balance, trading and profit/loss account, and balance sheet. The documents showed Sanford Electrical's income, expenses, assets, liabilities, and net profit for the year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    23 views4 pages

    Specific Project 1 Phase 1

    Uploaded by

    sreelakshmi sudheer
    Vincent and Shyam met after many years and discovered they both owned electronics stores. Vincent owned Santford Electricals and was curious how his business compared to Shyam's store. They decided to do a ratio analysis of their businesses for the year ending December 2021 using Sanford Electrical's trial balance, trading and profit/loss account, and balance sheet. The documents showed Sanford Electrical's income, expenses, assets, liabilities, and net profit for the year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    Introduction

    Durin evening strol| shyam meets his childhood triend


    an

    Vincent, who had &tudied with him 3 grade


    1n

    while having a leisurely taiK otth his triend, Shy am is


    Surprised to tind out that Vîncent had also atarted an
    electroncs shop under the nume Santord Electricals.
    too
    Vincent toas qls0 Surprised to K now that Shyam

    Started an electronics &tore


    Both oP them uwere curious to know who did better w hether
    Shyam or Vincent

    So they decide to do a ratio analysis of theîr busînesses


    ánd compare those ratoS.
    Irial Balance of Sanfordl
    Electricals as on 31
    December 2021.
    Debit Credit
    tems
    ZI50,000
    Capital st
    Stoc K as on January 202 Z30000
    Cash at bank ZI0,000
    Z5,000
    Cash in hand
    Furnitore Z13,000
    Machm nery Z100,000
    z50,000
    Wages Z200,0000
    Purchases
    Carriage în wards Z33,000
    2H0,000
    Salaries
    [Discount allouoed 24,000
    25,000
    Discount received
    Z50,000
    Advertisin9 Z49,000
    oftTce expenses
    Z50000O
    Sales
    6 undry debtors 290000
    Sundry credîtors Z41,000
    Input CGST ZIOO00
    | Input 8@ST Zl0O00
    Input 1GST ZI5,000
    Output ChST 28000
    Output SGST Z8,000
    Output 1GST ZIC000
    -na

    2130,000 Z130,000
    Sanford Electricals
    Irading,Profit and Loss account
    for the year ended 31 December
    Dr.
    y noN
    2021. Cr.
    Particulars Amount ParticulaTs Amount
    Opening StocK 230,000 Sales Z500,00o
    Z50,000
    Purchases Ze000o0 Closing Stock

    CAuages Z50000
    Carriage înwards Z33000
    To Giross profit cld Z23000
    Z550,000o Z550,0000
    he

    To Salaries Z0,000 By gross profit bld ZC31,000


    Z5,000
    To Discount allouoed 24,000 B Discountt received
    To Advertising Z50,000

    To othce expenseS Z40,000

    To net profit to bls 218,000


    Z242000 Z4t.000
    Oantord Electricals
    St
    Balance Sheet as on 31

    December 2021
    Liabilities Amountt Assets AmountE
    Sundry Creditors 247,000 Cash în hand Z5,000
    Z10,000
    Capital: Cash art bank
    Sundry debtors 290,000
    opening balance: Z150,000
    Closing StocK Z50,000
    +) Net Protit:278,000 Zeeso0ob
    Z5,000
    Input CGST
    nput 59ST Zc000
    Furniture Z13,000
    ZI00,000
    Machincry
    ze75,000 Ze75,000
    3 UizisM

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