# Analysis of Financial Statements and SAP Integration

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FINANCIAL ANALYSIS
Introduction Question 1: Calculation for Journal entry in Jassal Music Inc in 31 December 20X4ParticularsAmount (Dr.)Amount (Cr.)Prepaid Expenses A/c ..............................Dr. \$ 25,500.00 To Insurance A/c \$ 25,500.00(Being business insurance paid was recorded as prepaid expenses, now rectified)Prepaid Rent Income A/c ..............................Dr. \$ 80,000.00 To Rental Income A/c \$ 80,000.00(Being company rented instrument to school with approprate contract from (September to June). Advance was paid that was recorded as only rental income, now rectified)Cash A/c ................................................Dr. \$ 6,300.00 To Installment from Ryan A/c \$ 6,000.00 To Interest received A/c \$ 300.00(Being goods sold in installment whose first installment was due, now paid with the addition installment as per the market rate)Computer System A/c ................................Dr. \$ 1,800.00 To Sales A/c \$ 1,650.00 To Profit and loss A/c \$ 150.00(Being violin was sold by Jassal and in exchange computersystem was obtained)Total \$ 113,600.00 \$ 113,600.00Table 1: Calculation for Journal entry in Jassal Music Inc in 31 December 20X4(Source: Created by author)Question 2: Calculation for inventory schedule in Allegro Music Inventory itemsNumber of units-year endCost Per unitTotal cost NRV per unitTotal NRVLCNRVChime Set3 \$ \$ \$ \$ \$
750.00 2,250.00 790.00 2,370.00 2,250.00 Cymbals4 \$ 70.00 \$ 280.00 \$ 85.00 \$ 340.00 \$ 280.00 Drum sets3 \$ 450.00 \$ 1,350.00 \$ 525.00 \$ 1,575.00 \$ 1,350.00 Flutes5 \$ 650.00 \$ 3,250.00 \$ 775.00 \$ 3,875.00 \$ 3,250.00 Violins3 \$ 1,500.00 \$ 4,500.00 \$ 1,650.00 \$ 4,950.00 \$ 4,500.00 Guitars7 \$ 62.00 \$ 434.00 \$ 45.00 \$ 315.00 \$ 315.00 Guitars - acoustic 9 \$ 125.00 \$ 1,125.00 \$ 132.00 \$ 1,188.00 \$ 1,125.00 Guitars - electric12 \$ 190.00 \$ 2,280.00 \$ 225.00 \$ 2,700.00 \$ 2,280.00 Keyboard4 \$ 2,200.00 \$ 8,800.00 \$ 2,100.00 \$ 8,400.00 \$ 8,400.00 Piano - entry3 \$ 2,300.00 \$ 6,900.00 \$ 2,500.00 \$ 7,500.00 \$ 6,900.00 Piano - introductory5 \$ 4,500.00 \$ 22,500.00 \$ 4,900.00 \$ 24,500.00 \$ 22,500.00 Piano - intermediate2 \$ 12,000.00 \$ 24,000.00 \$ 14,200.00 \$ 28,400.00 \$ 24,000.00 Piano - professional1 \$ 22,500.00 \$ 22,500.00 \$ 25,000.00 \$ 25,000.00 \$ 22,500.00 Piano - uprights2 \$ 5,000.00 \$ 10,000.00 \$ 7,500.00 \$ 15,000.00 \$ 10,000.00 Recorder25 \$ 7.00 \$ 175.00 \$ 10.00 \$ 250.00 \$ 175.00 Saxophones3 \$ 575.00 \$ 1,725.00 \$ 675.00 \$ 2,025.00 \$ 1,725.00 Triangles5 \$ 55.00 \$ 275.00 \$ 65.00 \$ 325.00 \$ 275.00 Xylophones4 \$ 245.00 \$ 980.00 \$ 300.00 \$ 1,200.00 \$ 980.00 Total \$ 113,324.00 \$ 129,913.00 \$ 112,805.00

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