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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