Latest Activity In Study Groups

Join Your Study Groups

VU Past Papers, MCQs and More

MGT101 - Financial Accounting ASSIGNMENT # 01 DUE DATE: 11th May 2016 solution required.........?

Views: 4692

Attachments:

Replies to This Discussion

let's start discussion on this assignment

yes lets start every one give your opinion

Please Discuss here about this assignment.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

 

 TOPIC TO BE TESTED:

• Basic understanding to be required for the preparation of financial statements.

 

LEARNING OBJECTIVES:

• To understand the elements used in the preparation of financial statements.

 

Question:

Following information is extracted from the books of Ali Traders on 31st December 2015.

Particulars

Rs.

Particulars

Rs.

Payment of salaries to employees

40,000

    Cash in hand

12,000

Repairs and maintenance

50,000

    Furniture and Fixtures

75,000

Freight outwards

20,000

    Goods purchased on credit basis

44,000

Advertisement

30,000

    Cash at bank

45,000

Goodwill

60,000

    Loan taken from bank on 31st
    January 2015 @10% per annum

48,000

Bank charges deducted

5,000

    Goods sold on credit basis

43,000

Plant and Machinery

95,000

    Goods purchased on cash basis

54,000

Copy rights

35,000

    Goods sold on cash basis

120,000

 

 

Required:

Based on the above information of Ali Traders, you are required to calculate the amount of:

 

1. Administration expenses

2. Financial expenses

3. Revenue

4. Intangible assets

5. Liabilities

 

 

 

 

 

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 is 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.

in which lesson these topics are clear ???

Solved mgt101 assignment

Attachments:

zainab nooooooo its not wrong .. jab ham koi chez busines se purchase kertay hain wo payable ho jati hai na yani us ne to paise dene hotay hain . is liye wo liablity khelati hai

Aryan Ap nay Selling Expense b SHow kiya howa jab k Question mai wo required he nahi he. Advertisment b Admin Expense mai SHow hoga. Aur na he Ap nay Furniture and Fixture ko add kiya he. So u have to look at your solution Again Bro...

Dear Expense ki typoes hain ye.. or furniture and fixtues hamare fixed asset hain na . wo nahi likhayn ge ham

is it correct sir

Administration Expenses:
Payment of Salaries to Employees Rs 40,000
Repairs and Maintenance Rs 50,000
By adding the above entries we got Administration Expenses which are Rs 90,000.
Financial Expenses:
Bank Charges Deducted Rs 5,000
Intrest on bank loan 10% per annum Rs 4800
So the Financial Expenses will be Rs9800.
Revenue:
Goods sold on Credit basis Rs 43,000
Goods sold on cash basis Rs 120,000
This will give us the total Revenue Rs 163,000
Intangible Assets:
Good Will Rs 60,000
Copy Rights Rs 35,000
By adding above values we get the value of Intangible Assets Rs 95,000
Liabilities:
Goods purchased on Credit basis is Liabilities which is Rs 44,000
Loan taken from bank on 31st January 2015@10% annum Rs 48,000
Rs92,000

bs ye bta do ye thk he file agr koi error he to plzzzzzzz explain bi ker dna ok

yeh jo loan hy is par jo intrest hy yeh bhi to libility hy na payable hy. kya khyal hy apka ??

RSS

© 2021   Created by + M.Tariq Malik.   Powered by

Promote Us  |  Report an Issue  |  Privacy Policy  |  Terms of Service