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# MGT101 Assignment No 01 Fall 2019 Solution & Discussion Due Date: 13-11-2019

MGT101 Assignment No 01 Fall 2019 Solution & Discussion Due Date: 13-11-2019

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MGT101 Assignment No 01 Fall 2019 Solution

Q1. Intangible Asset =Copy’s rights + good will Intangible Asset =250000+150000 Intangible Asset =400,000 Q2. Assets = Liabilities + Owner’s equity Owner’s equity =Assets - liabilities  Owner’s Equity = 2240000-1030000 Owners equity = 1210000 Q3 Total Income /Revenue = amount earned on sales of goods + amount earned by rendering  services  Total Income /Revenue = 121000+840000 Total Income /Revenue= 961000 Q4. Selling Expense = advertisement expense + carriage /transport paid on sales of good  Selling expense = 65000+160000 Selling expense =225000 Q5. Cost of goods sold =purchase +carriage /transportation paid on purchase  Cost of goods sold = 550000+50000 Cost of goods sold =600000

MGT101_Assignment_01_Complete_Solution_Fall_2019_vu_ning

MGT101_Assignment_01_Complete_Solution_Fall_2019_vu_ning

MGT101_Assignment_01_Idea_Solution_Fall_2019_VU_Ning

MGT101_Assignment_01_Idea_Solution_Fall_2019_VU_Ning

Assignment No.1
Mgt101
Q1.

Intangible Asset =Copy’s rights + good will
Intangible Asset =250000+150000
Intangible Asset =400,000
Q2.
Assets = Liabilities + Owner’s equity
Owner’s equity =Assets - liabilities
Owner’s Equity = 2240000-1030000
Owners equity = 1210000
Q3
Total Income /Revenue = amount earned on sales of goods + amount earned by rendering
services
Total Income /Revenue = 121000+840000
Total Income /Revenue= 961000
Q4.
Selling Expense = advertisement expense + carriage /transport paid on sales of good
Selling expense = 65000+160000
Selling expense =225000
Q5.
Cost of goods sold =purchase +carriage /transportation paid on purchase
Cost of goods sold = 550000+50000
Cost of goods sold =600000
Note: if you found any mistake then correct ur self

MGT101 Assignment 1 Solution Fall 2019
Q1.
Intangible Asset =Copy’s rights + good will
Intangible Asset =250000+150000
Intangible Asset =400,000

Q2.
Assets = Liabilities + Owner’s equity
Owner’s equity =Assets - liabilities
Owner’s Equity = 2240000-1030000
Owner’s equity = 1210000

Q3.
Total Income /Revenue = amount earned on sales of goods + amount earned by rendering services
Total Income /Revenue = 121000+840000
Total Income /Revenue= 961000

Q4.
Selling Expense = advertisement expense + carriage /transport paid on sales of good
Selling expense = 65000+160000
Selling expense =225000

Q5.
Cost of goods sold =purchase +carriage /transportation paid on purchase
Cost of goods sold = 550000+50000
Cost of goods sold =600000

selling expense only advertising and salaries hongi, carriage/transport cost of goods sold me ayengi...! q k jum hum koi chez sale krty hy tb he hum ye cost incur kr skty hy...! The products that have been sold, should have their share of the transportation-in costs in the CoGS.!

MGT101 Financial Accounting Assignment 1 Solution Fall 2019

SEMESTER FALL 2019 FINANCIAL ACCOUNTING (MGT101)

ASSIGNMENT # 01

DUE DATE: 13th November 2019           Marks: 10

TOPIC TO BE TESTED:

• Basic understanding required for the preparation of financial

LEARNING OBJECTIVES:

• To understand the heads/terminologies used in the preparation of financial statements.

Following information is extracted from the books of ABC Business on 30th June 2019.

 Particulars Rs. Particulars Rs. Advertising expenses 65,000 Amount earned on sale of goods 121,000 Carriage/Transportation paid on sale of goods 160,000 Amount earned by rendering services 840,000 Purchases 550,000 Total Liabilities 10,30,000 Carriage/Transportation paid on purchases 50,000 Copy rights 250,000 Rent of office building 278,222 Goodwill 150,000 Taxes paid 20,364 Furniture and Fixtures 170,000 Mark up on loan 15,228 Plant & Machinery 750,000 Salaries paid to employees 16,369 Land and Building 770,000 Bank charges 29,367 Cash in hand 150,000 Other financial charges 17,268 Total Assets 2,240,000

Note: There is no opening and closing stock of inventory

Required:

Based on the above information of ABC Business, you are required to calculate the amount of:

1. Intangible Assets
2. Equity
3. Total Income/Revenue
4. Selling Expenses
5. Cost of goods sold

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
• Carefully watch relevant lectures and consult the relevant material from handouts along with recommended
• Attempt the assignment by yourself and it will be entertained positively.

• Make sure to upload the solution file before the due date on
• 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”.
• You may also compose your assignment in Open Office
• Use black and blue font colors

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