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FIN621 Financial Statement Analysis Assignment 01 Fall 2020 Solution / Discussion

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FIN621_Assignment_No_01_Solution_Fall_2020_

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FIN621_Assignment_No_01_Solution_Fall_2020_

Assignment No. 1 - Semester Fall 2020

FIN621 - Financial Statement Analysis

Solution:

Calculation of components of income statement:

  1. Net Sales:

Particulars

Rs.

Sales   

400,000

Less: Sale Returns      

(5,000)

Net Sales        

395,000

 

  1. Cost of Goods Sold:

Particulars

Rs.

Purchases

280,000

Less: Purchase Returns

            (5,050)

Add: Custom and Freight on Purchase

            6,000

Cost of Goods Sold

            280,950

 

  1. Gross Profit:

Particulars

Rs.

Net Sales        

            395,000

Less: Cost of Goods Sold       

(280,950)

Gross Profit

114,050

 

FIN621_Assignment_No_01_Solution_Fall_2020_

click on the below link to download the file

FIN621_Assignment_No_01_Solution_Fall_2020_

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