MGT101 GDB Solution & Discussion Spring 2011

[+ M.Tariq Malik]

GDB MGT 101

Cash + Debtors + Stock + Building + Furniture + Other Fixed Assets = Creditors + Owner’s Equity

 Rs.        Rs.         Rs.        Rs.          Rs.                 Rs.                     Rs.               Rs.

5,000    7,500  15,500   75,000   3,500             18,500              50,000        75,000

 

On the same day, he borrowed Rs. 30,000 from his wife and brought that money into the business. You are required to show the effect of this transaction upon the above equation by following the format.” 

 

Solution: Rs 30,000 Cash borrowed so cash and creditors will be increased by 30,000 and the accounting equation becomes.

 

Cash + Debtors + Stock + Building + Furniture + Other Fixed Assets = Creditors + Owner’s Equity

 Rs.        Rs.         Rs.        Rs.          Rs.                 Rs.                     Rs.               Rs.

5,000    7,500  15,500   75,000   3,500             18,500              50,000        75,000

 +                                                                                +

 

30000                                                                        30000

 

Cash + Debtors + Stock + Building + Furniture + Other Fixed Assets = Creditors + Owner’s Equity

 Rs.        Rs.         Rs.        Rs.          Rs.                 Rs.                     Rs.               Rs.

35,000    7,500  15,500   75,000   3,500             18,500              85,000        75,000

[Golden Tulip]

Thank you soo much Tariq Bhai it will be very helpful.But i think one mistake there in Accounting equation section(Creditors) 50,000+30,000=80,000

But tariq Bhai u mention a total amount 85,000.please advise me is this correct or mistake?Regarsd 

[Natasha Raja]

@ muzzammal har baar aik mistake hoti hai :D ta kay hum bhi kuch karyn ;) lool

[Golden Tulip]

Yes Natasha.But this is very helpful for us and we learn from mistake!!!

[Natasha Raja]

wellllll said muzzammal (;

we learn 4m mistakes*

[faiza butt]

good going

[+ M.Tariq Malik]

See the attached file MGT101 GDB Solution

[Seerat Masood]

tnkx 4 solution =)

[faiza butt]

 By the way Tariq ap assignments and GDB post karte rehte hain sara din ya aur b kuch karte hain?  your material is v helpful 4 us but y u always make a mistake 

[Malik Qasim Awan]

Brother Thanks 4 help

[+ M.Tariq Malik]

see one more attached

[shabbir ghuman]

These all solutions are wrong here are no views or comment which is demand by our instructor so be care full to submitt them answer of this solution is in your hands out page 65 to 70

[faiza butt]

I agree wid u Shabbir