Financial Accounting and Analysis

Assignment 1
Submission Date :- 29/11/2023
Q.1 What do you mean by Accounting and also explain the process of Accounting.
Q.2 Elaborate the Concept and Conventions of an Accounting.
Q.3 Make an Accounting equation from following:
Analyze the following transactions under the Accounting Equation Approach.

1. Commenced business with cash ₹500000

2. Purchased goods ₹25000

3. Paid salary ₹10000
4. Sold goods costing ₹20000 at a profit of 25% on the cost
5. Paid salary in advance ₹2000
6. Introduced additional capital ₹10000
7. Purchased computer ₹15000
8. Deposited ₹50000 into the bank

Q.4 Explain the Concept of Depreciation and type of Calculating Depreciation.