FIN611 Assignment 01 Fall 2020 Solution / Discussion Due Date: 14-12-2020

[+ M.Tariq Malik]

FIN611 Assignment 01 Fall 2020 Solution / Discussion Due Date: 14-12-2020

[+ M.Tariq Malik]

Share the Assignment Questions & Discuss Here.... 

[+ M.Tariq Malik]

FIN611_Assignment_No_01_Solution_Fall_2020

Click on the below link to download the file

FIN611_Assignment_No_01_Solution_Fall_2020

[+ M.Tariq Malik]

FIN611 Assignment No 1 Solution fall 2020 |

[+ M.Tariq Malik]

FIN611 Assignment No.1 solution Fall 2020

Branch Account

Dr.                                                                                                                                                                   Cr.

Particulars	Rs.	Particulars	Rs.
Opening Furniture A/c	23,400	Stock Reserves 82,000 x 25/125	16,400
Opening Stock	82,000	Good Sent	125,600
Stock Reserves A/c 96,000 x 25/125	19,200	Bank A/c (Cash remitted to Head Office)	750,000
Good Sent	628,000	Bank A/c (Recovered bad debts)	10,000
Opening Account Receivable	31,700
Bank A/c                Expenses	132,000	Closing Stock	96,000
		Closing Furniture A/c	23,435
		Closing Account Receivable	42,150
Profit & Loss A/c	147,285
	10,63,585		10,63,585

 

Depreciation:

                        Old Furniture               = 23,400 x 10/100 x 12/12 = 2,340    

New Furniture             = 2,500 x 10/100 x 6/12 = 125

                                    = 2,340 + 125 = 2,465

 

 

Debtors Account

Dr.                                                                                                                                                                   Cr.

Particulars	Rs.	Particulars	Rs.
Opening Debtors	31,700	Cash received from debtors	361,650
Credit Sales	372,100	Closing Debtors	42,150
	403,800		403,800

 

 

Petty Cash

Dr.                                                                                                                                                                   Cr.

Particulars	Rs.	Particulars	Rs.
Cash Sales	401,300	Cash remitted to do	750,000
Cash received from debtors	361,650	Furniture	2,500
		Expenses Paid and Cash Paid	10,450
		Balance c/d	0
	762,950		762,950

 

[+ M.Tariq Malik]

FIN611_Assignment_No_01_Solution_Fall_2020

Click on the below link to download the file

FIN611_Assignment_No_01_Solution_Fall_2020