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

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

Branch Accounting (Stock & Debtor System)

Mr. Imran was working as a sales executive with “The Toy Shop” – a
prominent wholesale in Shah Alam market since 2012 and a Chinese toys
importer. Being a business graduate, Imran had been given additional
responsibility of looking after import related matters with the bank. At the
beginning of 2017, after serving 5 years in the toys market, he had decided
to start his own business of toys marking. He brought in an amount of Rs.
350,000 including loans of Rs. 50,000 and Rs. 100,000 from his wife and a
friend respectively. With this amount, he set up a small manufacturing plant
and started his own manufactured plastic toys at Rs. 40 each in the local toys
market. At the end of his first year of operations, he has produced following
Total number of toys sold in cash 4,000
Cash payments for:
Raw material
Sundry expenses
He has also provided the following additional information:
1. A batch of 300 toys sold during the year has not yet paid till the year
2. There are creditors of Rs. 25,000 for plastic material purchased during
the year.
3. Unused stock of raw material was Rs. 10,000 at the year-end.
4. The rent had been paid for 18 month in cash at the beginning of 2017.
5. Sundry expenses include Rs. 2,000 for his personal trip to other cities.
6. The loan from his friend was used to purchase machinery having life of
5 years and an anticipated residual value of Rs. 15,000.
7. The salaries include Rs. 5,000 for installing the machinery.
8. Half of the loan from wife was repaid during the year.
9. Carriage inward was payable Rs. 3,000

+ Click Here To Join also Our facebook study Group.

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

..How to Join Subject Study Groups & Get Helping Material?..

See Your Saved Posts Timeline

Views: 600


+ http://bit.ly/vucodes (Vu Study Groups By Subject Codes Wise)


Replies to This Discussion

Please Discuss here about this assignment.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions. Read More>>

Discussed & be touched with this discussion. After discussion a perfect solution will come in a result at the end.



For Important Helping Material related to this subject (Solved MCQs, Short Notes, Solved past Papers, E-Books, FAQ,Short Questions Answers & more). You must view all the featured Discussion in this subject group.

For how you can view all the Featured discussions click on the Back to Subject Name Discussions link below the title of this Discussion & then under featured Discussion corner click on the view all link.

Or visit this link 

Click Here For Detail.


.•°How to Download past papers from study groups°•.


Please Click on the below link to see…

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


P.S:    Please always try to add the discussion in proper format title like “CS101 Assignment / GDB No 01 Solution & Discussion Due Date: ___________”

FIN611 - Advanced Financial Accounting Assignment No. 1 Solution Fall 2018 Due Date: December 04, 2018

need Solution pls


Latest Activity

Study Corner For DigiSkills Students

© 2019   Created by + M.Tariq Malik.   Powered by

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