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MGT101 Financial Accounting

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1st Sem
aisha muhammad aslam . July 20, 2012 at 12:34pm

mgt101 20 july 2012

If bad debts and provision for bad debts given in trial balance of Rahim Brothers are Rs. 5,000 and Rs. 6,000 respectively. Adjustment information shows that reduce the provision for doubtful debts to Rs. 3,000

Required:
Prepare a Provision for doubtful debts account based on the above information.5 marks
Following information is available of Shabaz & Co.

Particulars    Rs.
Profits for the year        25,000
Dividend declared and paid    5,000
Transfer to reserves    10,000
Closing balance of accumulated profit    60,000

Required:
Calculate the opening balance of accumulated profit.5 marks
Define "Cash flow from financing activities" in the context of cash flow statement with some examples.5 marks

Cost of asset    Rs. 200,000
Life of Asset    5 years
Depreciation method    Straight line
Residual value    Rs. 20,000
Sale price after 5 years    Rs. 30,000

Required:
Calculate the Profit / (loss) on disposal of asset.5 marks
Following information is available of Shabaz & Co.

Particulars    Rs.
Discount received    1,000
Commission received    2,000
Cash sales    3,000
Credit sales    4,000

Required:
Calculate the amount of “Direct revenue" and “Indirect revenue”.3 marks
The following information relates to ABC Company Limited:3 marks

Jan. 1, 2010        Dec. 31, 2011
                                   Rs.                  Rs.
                            -------------------    ---------------------
Assets                            375,000            500,000
Liabilities                              50,000            ?
Owners’ Equity                         ?            425’000
Differentiate between debtor’s turnover ratio and creditor’s turnover ratio.3 marks
What do you know about the Profit and loss appropriation account in case of partnership?3 marks


1st Sem
Kaleem Ahmad Hashmi . November 7, 2012 at 1:10am

good


2nd Sem
+AAKASH+ . May 5, 2015 at 9:00am

good work bro


2nd Sem
Designer Malik . May 28, 2015 at 12:29pm

naina ,, kab hai ap ke assign ke last date,,

may ap ko karwa doo ga ye wale assign mere hian ye  wale ,, book


1st Sem
sωεεт нεαят . November 11, 2015 at 4:12pm

student any help about mgt 101 1st assignment?


1st Sem
Muhammad Zeeshan Zaman . November 14, 2015 at 12:43am

Hi, guys here's the MGT101 Assignment #.1 for the help of all of you.

MGT101%20-%201.doc


1st Sem
hira khan . November 15, 2015 at 9:52pm

Revenue means amount of total sales    = 600,000+100,000 = 700,000

total sales    
cash sales    600,000 
credit sales  100,000              700,000

less  purchases (merchandise (250,000)
Gross profit                           450,000
less :  operating expenses 

    rental charges                    (70,000)

  other expenses                   (140,000)

Net profit                              240,000

cash in hand 

opening                  500000
add ;

      loan               300,000
  sales                  600000
less ;

rent                    (70000)

other exp            (140000)

 purchase             (250000)
 repayment of loan(130000)
closing balance      810000

liabilities 

loan  taken       300000

less repaid loan (130000)

liability             170,000

Capital

capital introduced        1400,000

profit of the year         240,000

                                1640,000


prove
assets  = liabilities +capital 

900000+ 810,000  + 100,000  =  170,000 + 1640,000

 1810,000 = 1810,000


1st Sem
sundas . May 8, 2016 at 1:38pm

1st Sem
Perrhaku . November 16, 2016 at 2:37pm
Needed mgt 101 smester 1 bcs assignment

1st Sem
Perrhaku . November 16, 2016 at 2:37pm
Assignment nbr 1

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