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Question No.1 (10 Marks)

 

Calculate the amount of Net Working Capital of the Trader.

 

Question No. 2 (10 Marks)

Calculate the amount of Administrative Expenses with the help of an IncomeStatement if net profit is amounted to RS. 271,000.

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See the attached file for one more idea solution of MGT101 assignment no 02 spring 2011
Attachments:

 

Please only those should post who new the rite answer, its confusing now :(

SOlution idea:

ANSWER # 1
Here we know the current Assets is:
Current Assets:=cash in hand + sundry debtors + prepaid insurance + closing stock
=63400 + 390000 + 33000 + 136000
=622,400
CURRENT LIABILITIES: =outstanding salaries + creditors + Bank Loan
=60000 + 126000 + 100,000
=286000
Now,
NET WORKING CAPITAL:
Current assets – current liabilities
So,
Net Working capital= 622,400 – 286000

Net Working capital = 336,400

thankx

 

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