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MGT101 Assignment#01 Solution Spring 2011

See the below attached file please

 

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One more idea solution file of MGT101 Assignment no 1 Spring 2011

See the attached file 

 

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Determine the missing amount on each of the following options with the help of Accounting Equation.

Sr. No. Assets = Liabilities + Capital
1. Rs. 35,000 = Rs. 12,000 + Rs. 33,000
2. Rs. 40,000 = Rs. 27,000 + Rs. 13,600
3. Rs. 54, 000 = Rs. 9,000 + Rs. 45,000
Total Rs. 129000 = Rs. 138,000 + Rs. 91600

Question No. 2
From the following transactions, identify the nature of expenditure whether Capital Expenditure or Revenue
Expenditure by filling up the appropriate boxes given below.

S. No..... Transactions ...........Nature of expenditure
1......... Merchandise purchase for cash is........ Revenue Expenditure
2 Paid rent of the building is........................... Capital Expenditure
3 Commission paid to the workers is .............Revenue Expenditure
4 Cost of acquiring the patent rights is .............Revenue Expenditure
5 Installation cost of the machinery is............ Capital Expenditure

Question No. 3
a) Briefly describe the difference between Tangible and Intangible Assets.
b) Write down the type of Asset (Tangible / Intangible) in
the appropriate boxes given below.
S. No. Transactions Type of Asset
1 Raw Material / Stores is Tangible Asset
2The Technology of information and database is Intangible Asset
3 Abilities and innovations of the employers is Intangible Asset
4 The money – Cash at Bank is Tangible Asset

Sorry tariq bhai.....I think Question 1st answer is wrong.please can u update me.Im confuse I think answer should be like this.

Sr. No. Assets = Liabilities + Capital
1. Rs. 35,000 = Rs. 12,000 + Rs. 23,000
2. Rs. 40,000 = Rs. 26,400 + Rs. 13,600
3. Rs. 54, 000 = Rs. 9,000 + Rs. 45,000
Total Rs. 129000 = Rs. 47,400 + Rs. 81,600

Read more: MGT101 Assignment#01 Solution Spring 2011 - Virtual University of P... http://vustudents.ning.com/forum/topics/mgt101-assignment01-solutio...

@ muzzammal you are right....

Thanks Natasha...so u mean my answer is correct.because as per accounting equitation

Assets= Liabiliies+Capital answer should be like that.anyway...I was soo confused..Tahnk u sooo much for ur help.Truly regards

 

But q3 [a] is briefly describe difference b/w both of them any one has not defined difference

@ muzzammal mine n ur answers are same ... i was confused too buh now i knw mine are right but still let us wait for teachers result ..;)

 

 

Question No. 1

 

Sr. No.

Assets = Liabilities + Capital

1

Rs. 35,000 = Rs. 12,000 + 23,000

2

Rs. 40,000 = Rs.26,400+ Rs. 13,600

3

Rs.54,000 = Rs. 9,000 + Rs. 45,000

Total

Rs. 129,000 = Rs. 47,400 + Rs. 81,000

 

 

Question No. 2

 

S. No.

Transactions

Nature of expenditure

1

Merchandise purchase for cash

Capital Expenditure

2

Paid rent of the building

Revenue Expenditure

3

Commission paid to the workers

Revenue Expenditure

4

Cost of acquiring the patent rights

Capital Expenditure

5

Installation cost of the machinery

Capital Expenditure

 

Question No. 3

 

S. No.

Transactions

Type of Assets

1

Raw Material / Stores

Tangible

2

The Technology of information and database

Tangible

3

Abilities and innovations of the employers

Non-Tangible

4

The money – Cash at Bank

Non-Tangible

 

See the attached file for another idea solution MGT101
Attachments:
Question No. 1



Sr. No.

Assets = Liabilities + Capital

1

Rs. 35,000 = Rs. 12,000 + 23,000

2

Rs. 40,000 = Rs.26,400+ Rs. 13,600

3

Rs.54,000 = Rs. 9,000 + Rs. 45,000

Total

Rs. 129,000 = Rs. 47,400 + Rs. 81,000




Question No. 2 S. No. Transactions Nature of expenditure 1 Merchandise purchase for cash Capital Expenditure 2 Paid rent of the building Revenue Expenditure 3 Commission paid to the workers Revenue Expenditure 4 Cost of acquiring the patent rights Capital Expenditure 5 Installation cost of the machineryCapital Expenditure Question No. 3 S. No. Transactions Type of Assets 1 Raw Material / Stores Tangible 2The Technology of information and database Tangible 3 Abilities and innovations of the employers Non-Tangible 4 The money – Cash at Bank Non-Tangible

 
Question No. 2
From the following transactions, identify the nature of expenditure whether Capital Expenditure or Revenue Expenditure by filling up the appropriate boxes given below.

ANSWER:
1. Revenue Expenditure
2. Revenue Expenditure
3. Revenue Expenditure
4. Capital Expenditure
5. Capital Expenditure

Question No. 3
a) Briefly describe the difference between Tangible and Intangible Assets.
Answer:
Tangible Assets having a physical existence, such as cash, equipment, and real estate; accounts receivable are also usually considered tangible assets for accounting purposes.
Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured, which are created through time and/or effort and that are identifiable as a separate asset. 
b) Write down the type of Asset (Tangible / Intangible) in the appropriate boxes given below.

Answer:

1. Tangible
2. Intangible
3. Intangible
4. Tangible
Sr. No.

Assets = Liabilities + Capital

1

Rs. 35,000 = Rs. 12,000 + 23,000

2

Rs. 40,000 = Rs.26,400+ Rs. 13,600

3

Rs.54,000 = Rs. 9,000 + Rs. 45,000

Total

Rs. 129,000 = Rs. 47,400 + Rs. 81,600

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