Comprehensive Financial Statement Analysis Project Report

This project provides a comprehensive analysis of financial statements, including the preparation of journal entries, ledger accounts, a trial balance, an income statement, and a balance sheet. It evaluates a business's financial health and performance through ratio analysis, covering profitability, liquidity, and efficiency ratios. The project also addresses concerns regarding owner withdrawals and their impact on the business. It identifies areas for improvement, such as expense management and resource utilization, to enhance profitability and sustainability. Furthermore, the project assesses the impact of external factors like the COVID-19 pandemic on the company's financial ratios and overall performance. Desklib offers similar solved assignments and study tools for students seeking assistance with their academic work.

WRITTEN PROJECT

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................2
a) Journal entries..........................................................................................................................2
b) ledger account..........................................................................................................................5
c) Trial balance..........................................................................................................................16
d) Income statement...................................................................................................................17
e)................................................................................................................................................19
f).................................................................................................................................................21
PART B.........................................................................................................................................22
a)................................................................................................................................................22
b)................................................................................................................................................25
CONCLUSION..............................................................................................................................26
REFERENCES..............................................................................................................................27

INTRODUCTION
Recording business transaction is one of the significant method of keeping the information
associated with the different types of transaction conducted for generating the higher
profitability & sustainability in market. The present working environment has become too
complex where information based decision can allow to get the ability to overcome prevailing
circumstances the present report is based on evaluating the crucial approaches which can help in
achieving accurate, relevant and reliable information so that formulating decision in effective
manner can become possible. The current study will emphasize on having relevant formulation
of journal entries, ledger account, trial balance, income statement and financial position. This
will permit to get the fair insights regarding the performance of business in terms of financial
health. It will allow to get the accurate information so that prevailing lacking area can be
assessed to recognize the prevailing lacking areas so that profit offering situation can have
formulated by eliminating non crucial aspects. The present study will focus on having
calculation regarding the ratios so that proper evaluation of organizational performance can be
done.
1

MAIN BODY
a) Journal entries
2

3

4

b) ledger account
5

6

7

8

9

10