FOUNDATION UNIVERSITY ISLAMABAD

RAWALPINDI CAMPUS
Home Based Final Assignment (Fall-2020)

Programme: BCSE-7C Semester: 7

Course Title: Financial Accounting Section: C

Instructor Name: Mr.Asad Ullah Max Marks: 25

Time Allowed: 14Feburary-21Feburary Date: 14th Feburary 2021

INSTRUCTIONS
1. This assignment is given instead of Midterm Exam.
2. Attempt hand written on clean A4 or any other papers. Each page should be numbered.
Take photos of your response. Convert it into pdf, zip etc. and upload on LMS.
3. No computer generated response will be accepted.
4. Plagiarism is not allowed.
5. Write your credentials on the first page of assignment.

Q.No.1: When is the accounting equation in balance and what does that mean?
Q.No.2: How can a transaction not affect any liability and equity accounts?
Q.No.3: Describe a transaction increasing equity and one decreasing it.
Q.No.4: Identify a transaction that decreases both assets and liabilities.
Q.No.5: Explain the link between the income statement and the statement of owner’s
equity.
Q.No.6: Describe the link between the balance sheet and statement of owner’s equity.
Q.No.7: Discuss the three major sections of cash flows.
Q.No.8: Why is a company’s capital structure, as measured by debt and equity ratios,
important to financial statement analysts?
Q.No.9: List at least two items affecting the bank balance side of bank reconciliation
and indicate whether the item are added or subtracted.
Q.No.10: List at least three items affecting the book balance side of bank reconciliation
and indicate whether the items are added or subtracted.
Q.No.11: What does the term depreciation mean in accounting? What are the different
depreciation methods we have studied in accounting?
Q.No.12: Describe the three basic forms of business organisations and their key
characteristics.
NOTE: Answer all of the above questions with the help of appropriate and unique
examples so that effect of plagiarism can be minimised. If examples or values matched
between students, it will be considered as plagiarism.