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The accounts of midland Industries ltd., showed an amount of Rs 100,000 to the credit of Profit and loss account on 31st December 2019 out of which directors decided to place Rs 20,000 to General Reserve fund, and Rs 5,000 to debentures redemption fund.
At the annual general meeting, it was decided to place Rs 10,000 to a War Reserve fund (to provide for contingencies) and to pay a bonus of 2 ½ per cent of the profits to the directors as additional remuneration. It was also decided to pay a dividend at the rate of 10 per cent on Equity share capital of Rs 300,000. The balance of profit and loss account to be carried forward to next year.
Problem 1: Show the profit and loss appropriation account of the company.
Financial Statement Analysis and Preparation
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An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
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Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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