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My Test File

In: People

Submitted By pankajb
Words 898
Pages 4
IIM INDORE
PGP 2015-17
FINANCIAL ACCOUNTING & CONTROL
ASSIGNMENT-2

This assignment is intended to help you practice solving problems and get concept clarity on two topics: Cash Flow Statement and Inventory Valuation.
Attempt all questions and submit by 31st Aug 2015.
1. S Co. entered into the following transactions: a. Paid suppliers b. Received dividend from an associate. c. Sold investments at a gain. d. Purchased copyrights with cash. e. Issued debentures in exchange for equipment. f. Paid interest on bank overdraft. g. Converted debentures into equity shares. h. Received payments from customers. i. Purchased investments with cash. j. Purchased a 60-day certificate of deposit with cash. k. Paid advance to a supplier of equipment. l. Sold a 90-day Treasury bill. m. Collected installment payments for the sale of an old plant. n. Earned a net profit. o. Sold machinery at a gain. p. Entered into a finance lease for a new machine. q. Sold a plant at carrying amount. r. Issued convertible debentures for cash. s. Paid festival bonus to employees. t. Collected insurance proceeds from a patent infringement suit. u. Paid installments for the purchase of inventories.
Required:
1. Classify each as an operating activity, investing activity, financing activity, non-cash activity or none of the above.
2. Also state whether the transaction results in an increase in cash, a decrease in cash, or no effect on cash.

2. P Plastics Company’s statement of profit and loss for the year ended April 30, 20x3 and balance sheet as on April 30 20x2 and 20x3 are as follows: P Plastics CompanyStatement of Profit and LossFor the year ended April 30, 20x3 | Sales | Rs. 75,800 | Gain on sale of land | 6,300 | Dividend Income | 2,000 | Interest Income | 5,400 | | 89,500 | Cost of…...

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