Interview challenge
Pyramidia Ventures
Interview Challenge – Accounting
Admin & Accounting Intern
Prepare the following challenge and send your report in Excel to [email protected]
You are the Accounts Assistant of Pyramidia Ventues Ltd. You are tasked with preparing the periodic Financial Statements.
In any cases where the information is incomplete (indicated with a ?), you’ll have to make and cite your assumptions explicitly.
1. Prepare 12-months of monthly financials, from July 2023 to June 2024.
2. Prepare an Income statement for the year and Opening and Closing Balance sheet for the end of June 2024.
The below information is available. Highlight any concerns or comments
Item
Items as of July 2023
%
Assumptions
Sales of Tomatoes
Ksh800,000
Growing at 5% per month
Sales of Leafy Greens
Ksh500,000
Growing at 8% per month
Rent of sales branches
Ksh10,000
Constant monthly
Salaries
Ksh150,000
Growing by 5,000 every month
Sales & Marketing cost
Ksh80,000
Growing the same as sales volume growth
Other admin
Ksh40,000
Growing at 2% monthly
Gross Margin on Tomatoes
26%
As of January, GM improves to 28%
Gross Margin on Leafy Greens
24%
As of January, GM improves to 26%
Long-term bank debt
Ksh5,000,000
5-year term loan with annual principal repayment in January
Interest on debt
?
Payable monthly. Please suggest interest rate
Purchase of new car
?
Buy 1 small car in the coming year. Please suggest price and how to finance
Electricity and water
Ksh15,000
2%
Monthly bill, rising at 2% per month
Current assets
Ksh3,400,000
Current liabilities
Ksh500,000
Property, plant & equipment
Ksh6,000,000
Accumulated depreciation
Ksh900,000
Financial year depreciation
Ksh300,000
Stockholder equity
Ksh3,000,000
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