Financial Accounting (mgt401)......Assignment no 1 ....(Start date : 13 july,2016...End date : 20 july,2016)....Marks 10

[zahid usman]

Friends PLZ See the Assignment no 1 of Financial Accounting II in Attachment file ...Thanks

[+ M.Tariq Malik]

MGT401 Assignment solution spring 2016

Solution # 1:
Fixed Assets Schedule

Sr.# Particular Cost Dep.
% Accumulated Deprecation WDV
(Cost - Acc. Dep)
As on 1st July Add/ del As on 30 June As on
1st July Add/ Del During Year As on 30 June
Fixed Assets Rupees in thousands (000)
01 F.H Land 5000 - 5000 - - - - - 5000
02 Plant & Mac. 1700 4500 6200 15 85 - 917.25 1002.25 5197.75
03 Building on F.H Land 900 - 900 10 25 - 87.5 112.5 787.5
04 Vehicles 1500 800 2300 15 28 - 340.8 368.8 1931.2
05 Furniture &
Fix. 250 220 470 15 9 - 69.15 78.15 391.85
06 Company
Equipment 350 - 350 20 15 - 67 82 268
07 Office Equipment 350 - 350 15 12 - 50.7 62.7 287.3
Total 10050 5520 15570 - 174 - 1532.4 1706.4 13863.6
Leasing Assets Lease Hold Assets - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
Lease Hold Machinery 2000 - 2000 15 30 - 295.5 325.5 1674.5
Total 12050 5520 17570 - 204 - 1827.9 2031.9 15538.1

Solution # 2:
Disposal of operating fixed Assets schedule:

Particulars Cost Acc. Dep. WDV Sale Proceed P/L Mode of Disposal Particulars of Buyer
Vehicles
Suzuki Swift 700,000 410,000 290,000 290,000 - Sold to Company Employee Mr. shoail
- 700,000 410,000 290,000 290,000 - - -

[+ M.Tariq Malik]

MGT401

Assignment Solution

Semester Spring 2016

[Sana Sunny ツ]