.... How to Find Your Subject Study Group & Join ....   .... Find Your Subject Study Group & Join ....  

We are here with you hands in hands to facilitate your learning & don't appreciate the idea of copying or replicating solutions. Read More>>

Study Groups By Subject code Wise (Click Below on your university link & Join Your Subject Group)

[ + VU Study Groups Subject Code Wise ]  [ + COMSATS Virtual Campus Study Groups Subject Code Wise ]

Looking For Something at vustudents.ning.com? Search Here

salam every one plzzzz share the solution of this assignment 
Advanced Financial Accounting (FIN611)
Assignment No. 1
Due Date: 16/11/2011 Marks: 15
Following is the Receipts and Payments Account of Lahore Gymkhana Club for the year ended on
31st December 2009.
Additional information:
1. Outstanding and unexpired expenses on 31st December were:
Particulars Year 2008
Year 2009
Rent due 720 1,440
Electricity bill due 2,560 800
Subscription due 1,000 1,600
Unexpired Insurance 200 280
2. Cost of refreshments sold was amounting to Rs. 15,000.
3. On 31st December 2008 book value of furniture was Rs.12, 000. New furniture was purchased
on 1st October 2009. Depreciation is to be provided @10% p.a.
4. Entrance fee is not to be capitalized.
5. Loan from Mr. Ali was taken on 1st November 2009. Interest on loan is payable at 15% p.a.
Prepare Income and Expenditure Account for the year ended on 31st December 2009
and Balance Sheet as on that date.
Receipts Rs. Payments Rs.
Cash in hand
Entrance fee
Sales of refreshments
Loan taken form Mr. Ali
Printing and stationery
Insurance premium
Miscellaneous expenses
Purchase new furniture
Cash in hand
TOTAL 64,680 TOTAL 64,680
Only in the case of Assignment, 24 hours extra / grace period after the due date is
usually available to overcome uploading difficulties which may be faced by the
students on last date. This extra time should only be used to meet the emergencies and
above mentioned due dates should always be treated as final to avoid any
• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.
Formatting guidelines:
• Use the font style “Times New Roman” or “Arial” and font size “12”.
• It is advised to compose your document in MS-Word format.
• You may also compose your assignment in Open Office format.
• Use black and blue font colors only.
Solution guidelines:
• Use APA style for referencing and citation. For guidance search “APA reference
style” in Google and read various website containing information for better
understanding or visithttp://linguistics.byu.edu/faculty/h...apa/APA01.html
• Every student will work individually and has to write in the form of an analytical
• Give the answer according to question, there will be negative marking for irrelevant
• For acquiring the relevant knowledge do not rely only on handouts but watch the
video lectures and use other reference books also.
Rules for Marking
Please note that your assignment will not be graded or graded as Zero (0), if:
• It is submitted after the due date.
• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF
• It is cheated or copied from other students, internet, books, journals etc.FI

Share This With Friends......

How to Find Your Subject Study Group & Join.

Find Your Subject Study Group & Join.

+ Click Here To Join also Our facebook study Group.

This Content Originally Published by a member of VU Students.

+ Prohibited Content On Site + Report a violation + Report an Issue

+ Safety Guidelines for New + Site FAQ & Rules + Safety Matters

+ Important for All Members Take a Look + Online Safety

Views: 663

See Your Saved Posts Timeline

Replies to This Discussion

plz plz help me in dis assignment plz


any one plz share the solution!!!!!!!!!!!!11


hellloooooooooooo y nobody replying to this assgmt ?? hhhuuhhh ????? please sharee kar doooo...

kaise ko mila is ka solution \???

kuch pata chalaa ???/

Waiting for solution any one please help me.

lagta ha marks gaye koi solution he nai mila yeh subject kisi ka ha bhi k nai..........:((

less then 2 hours remains


keep looking

Assignment of Advanced Financial Accounting (FIN611)

Dated: 11, 17, 11

Subscription Income Account

Subscription due on the year 2008 (31st December 2008)                       1,000

Subscription received during the year 2008 (31st December 2008)         1,000

Subscription due on the year 2009 (31st December 2008)                       1,600

Subscription received during the year 2009 (31st December 2009)         12,200  


Subscription received during the year 2010 (31st December 2010)         1,400

(to save time I will skip the data of 2010, because requirement is of 2009)


Calculate the amount of subscription at the closing of 2009.             13,200




Working: Rupees

Cash received during the year ended on 31st December 2009              63,680                                             

Less Opening balance of accrued income                                              13,200

Add Closing balance of accrued income                                                2,600                    

Add Opening balance of advance receipts                                                 N/A

Less Closing balance of advance receipts                                                  N/A        

Income for the year                                                                               53,080




Income and Expenditure Account

For the year ended December 31, 2009


Incomes                                                                                         Rupees

Subscription income                                                                      53,080





                                                                 Balance Sheet

As at December 31, 2008



Assets                                                                                             Rupees                 

Subscription receivable                                                                 1,600



Subscription received in advance                                                  12,200




Extract means make normal balance sheet and put these values in it




A quality education changes lives & start with you.

Forum Categorizes

Job's & Careers (Latest Jobs)

Admissions (Latest Admissons)

Scholarship (Latest Scholarships)

Internship (Latest Internships)

VU Subject Study Groups

Other Universities/Colleges/Schools Help

    ::::::::::: More Categorizes :::::::::::

Member of The Month

1. ♥Farrukh♥Kamboh (BSCS)

Sheikhupura, Pakistan

© 2018   Created by + M.TariK MaliC.   Powered by

Promote Us  |  Report an Issue  |  Privacy Policy  |  Terms of Service