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MGT101 Assignment No 01 Solution & Discussion Due Date: 14-11-2017

Any one who can solve mgt 101 assignment 01, or please share your ideas,, Fall%202017_MGT101_1.pdf

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agr apko mil gae to please mujy b bta dejiye ga...

apky pas pak301 ki hai assignment???

plz assignment ko solve karny ka koi idea bata den....

SEMESTER FALL 2017
FINANCIAL ACCOUNTING (MGT101)
ASSIGNMENT # 01
DUE DATE: 14th November 2017 MARKS: 10
TOPIC TO BE TESTED:
 Basic concepts to understand the different contents of financial statements
LEARNING OBJECTIVES:
 To understand the basic concepts required for the preparation of financial statements.
Following information has been extracted from the books of ABC Enterprises.
Particulars
Rs.
Cash in hand
10,000
Debtors
20,000
Machinery
300,000
Building
400,000
Furniture
500,000
Creditors
5,000
Bank overdraft
15,000
Loan taken from bank for the period of 5 years
200,000
Loan taken from Mr. B for the period of 3 months
30,000
Loan given to Mr. D for the period of 5 months
35,000
Sales
800,000
Cost of goods sold
550,000
Freight outwards
13,000
Advertisement expenses
14,000
Distribution expenses
12,000
Based on the information given above, you are required to calculate the:
1. Current Assets
2. Fixed Assets
3. Current Liabilities
4. Gross Profit
5. Selling Expenses
Note: Be specific to requirements of solution; inclusion of irrelevant items in any part of solution may leads to deduction of marks.
QUESTION
IMPORTANT:
Grace period of extra 24 hours after the due date is usually available to overcome uploading difficulties. 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 inconvenience.
IMPORTANT INSTRUCTIONS
 Take help from internet for collecting the information.
 Carefully watch relevant lectures and consult the relevant material from handouts along with recommended books.
 Attempt the assignment by yourself and it will be entertained positively.
OTHER IMPORTANT INSTRUCTIONS:
DEADLINE:
 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.
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 corrupt.
 It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
 It is cheated or copied from other students, internet, books, journals etc.
Note related to load shedding: Please be proactive
Dear students!
As you know that Pre Mid-Term semester activities have been started and load shedding problem is also prevailing in our country now a days. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.
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cash in hand                                                                                     10000

debtor                                                                                              20000

Loan given to Mr. D for the period of 5 months                            35000

Current assets                                                                               65000

Find fixed asset:

machinery                                                                                     300,000

building                                                                                         400000

furniture                                                                                        500000

Total fixed asset                                                                             1,200,000

Current liabilities:

Creditors                                                                                          5,000

Bank overdraft                                                                                 15,000

Loan taken from Mr. B for the period of 3 months                         30,000

Total C.L                                                                                          50,000

Gross profit:

Sale                                                                                                   800,000

Less: Cost of goods sold                                                                  550,000

Gross profit                                                                                      250000

Selling expense:

Advertisement expense                                                                    14000

Distribution expense                                                                        12000

Freight  outward                                                                              13000

Total Selling expense                                                                      39000

tariq bhai kindly solve it all in ms word

MGT 101
Solution:
Q.NO 1:
CURRENT ASSETS:
= CASH IN HAND + DEBTORS+ LOAN TO MR.D
= 10,000+ 20,000+ 35,000
= 65,000
Q.NO 2:
FIXED ASSETS:
= Machinery + Building + Furniture
=300,000+400,000+500,000
=12, 00,000
Q.NO 3:
CURRENT LIABILITIES:
= Creditors + Bank overdraft +Loan from MR.B
= 5,000+15,000+30,000
= 50,000
Q.NO.4:
GROSS PROFIT:
= Sales- CGS
=800,000-550,000
=250,000
Q.NO.5:
SELLING EXPENSES:
= Freight outwards+ Advertisement expenses+ Distribution expenses
= 13,000+14,000+12,000
= 39,000

Good Job guy

MGT101 Assignment#1 Solution

Attachments:

please reply
in Current Liabilities
Creditors + Bank Overdraft+Loan taken from Mr. B
but not mentioned the Loan taken from Bank for the period of 5 yeears

it is also liability

MGT101 Solution

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