MGT101 Assignment No 1 Solution Spring 2022
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Assignment No 1
Spring 2022
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MGT101 ASSIGNMENT 1 SOLUTION SPRING 2022
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MGT101 ASSIGNMENT 1 SOLUTION SPRING 2022
Due Date: 3 June 2022 Total Marks: 15
Most Important 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. Question 1: Some Sub-accounting Heads are given in first column. Write the appropriate main Heads of account in second column against each Sub-accounting Head mentioned in first column from the following main Heads of account:
- Real Account
- Nominal Account
- Personal Account
Question 2: ABC & Sons showed balances of cash in hand Rs. 190,000, Cash at bank Rs. 160,000, Furniture Rs. 110,000, Accounts receivables Rs. 35,000 and Short term loan Rs. 70,000 as on 1st May 2022. Some transactions of ABC & Sons for the month of May 2022 are given below.
CASH in hand A/C
Cash at Bank A/C
Furniture A/C
Debtors A/C
Short Term Loan A/C
Creditors A/C
PLEASE NOTE:
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MGT101 Assignment 1 Solution Spring 2022
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MGT101 Assignment 1 Solution 2022
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MGT101 Assignment 1 Spring 2022
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MGT101 Assignment 1 Solution 2021 - VU Answer
MGT101 ASSIGNMENT 1 SOLUTION SPRING 2021
Provide by VU Answer
Download Assignment Solution File Below
Assignment Marks: 12
Due Date: 26-July-2021
Read Assignment Question File Instruction Carefully
Step by Step Assignment Solution
Assignment Guideline:
Use the font style “Times New Roman” or “Arial” and font size “12”.
Document in MS-Word format.
Use only blue and black font color only.
LEARNING OBJECTIVES:
To develop an understanding of the basic concepts regarding the topics Fixed Assets and Depreciation, Provision for doubtful debts and Financial Statements.
Following information is extracted from the books of a business concern on 30 th June 2021.
ADDITIONAL INFORMATION:
In addition to the value of Plant & Machinery given in the above information, one machine costing to Rs. 30,000 was bought on 1 st April 2021. Basis/Policy of charging depreciation is Time Proportionate (on the basis of use). Plant & Machinery is depreciated @ 10% per annum on straight line method.
Provision for doubtful debts is to be maintained @ 5%
Net loss for the period is Rs. 75,000.
There is no closing stock found at the end of the accounting period
Books of accounts are closed on 30 th June each year.
Requirement 1:
Net Sale = 65,000
Less cost of goods sold = 25,000
Gross profit = Net Sale - Less cost of goods sold
Gross profit = 65,000 – 25,000
Gross profit = 40,000
Requirement 2:
Cost of goods sold = 25,000
Less opening stock = 15,000
Purchases = Cost of goods sold – Less opening stock
Purchases = 25,000 – 15,000
Purchases = 10,000
Requirement 3:
Cost of assets = 100,000
Less acc dep = 20,000
= 80,000
Less depreciation (100,000*10%) = 10,000
Book value of asset = 90,000
New Machine = 30,000
Less Depreciation (30,000*10%*3/12) = 750
Book Value = 29250
Requirement 4:
Debtor = 20,000
New provision (20000*5%) = 1000
Debtor = 19000
Requirement 5:
Capital = 250,000
Add net loss = 75,000
Equity = 175,000
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MGT101 GDB No 1 Solution Fall 2022
Are You Looking for MGT101 GDB 1 Solution Fall 2022. This is the first GDB of MGT101.
Welcome to VU Study Solutions An Educational Platform for Learning and for the Help of students and also for researchers in clearing the concepts.
In this post I will share the solution of MGT 101 GDB 1 Solution Fall 2022. This is the first GDB of MGT101. This GDB is about marketing mix. You have to calculate cost of goods sold, owner’s equity at the end of the year, effect of sale of inventory on assets and effect of sale of inventory on owner’s equity.
GDB is one of the most important section of the Virtual University of Pakistan and has good score in the final result of the subject. So you should solve it properly and upload it in given time. While preparing the solution of the GDB you should follow all the instructions given in the GDB question.
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MGT101 Assignment No 1 Solution Spring 2022 this Virtual University assignment solution is created keeping in mind the specific requirements of the students and the VU curriculum. The Virtual University assignment solution offered by Study Solution is reliable, accurate, and up-to-date.
In this video, we'll show you how to solve MGT101 Assignment 1 - 2022. This assignment is available to students who have enrolled in the course after Fall 2018. ...more ...more Chat...
Solution: Question 2: ABC & Sons showed balances of cash in hand Rs. 190,000, Cash at bank Rs. 160,000, Furniture Rs. 110,000, Accounts receivables Rs. 35,000 and Short term loan Rs. 70,000 as on 1st May 2022. Some transactions of ABC & Sons for the month of May 2022 are given below. Solution: CASH in hand A/C Cash at Bank A/C Furniture A/C
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MGT101 Assignment No 1 Spring 2022 100% Correct Complete Solution By Abid Farooq BhuttaMGT101 Assignment 1 Solution Spring 2022 By Abid Farooq Bhutta MGT10...
Plant & machinery account? Note: You must follow the above tabular format to fill the miscolumn. sing particulars of second ABC & Sons showed balances of cash in hand Rs. 190,000, Cash at bank Rs. 160,000, Furniture Rs. 110,000, Accounts receivables Rs. 35,000 and Short term loan Rs. 70, as on 1stMay 2022.
FINANCIAL ACCOUNTING (MGT101) FALL, 2021 ASSIGNMENT NO. 1 DATE: DECEMBER 08, 2021. QUESTION 1_SOLUTION: INFORMATION SOURCE OF INFORMATION. Payment of salaries to employees Transaction Loss by fire Event Depreciation of non-current assets Condition Sale of goods to ABC brothers on credit basis Transaction
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Today in this post we will share the solution of mgt 101 assignment 1 fall 2022. This is the 1 assignment of this course. Financial Accounting book has subject code MGT101 in Virtual University of Pakistan. For getting up to date assignment solution keep visiting vustudysolutions.
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Solution Requirement 1: Net Sale = 65,000 Less cost of goods sold = 25,000 Gross profit = Net Sale - Less cost of goods sold Gross profit = 65,000 - 25,000 Gross profit = 40,000 Requirement 2: Cost of goods sold = 25,000
Welcome to VU Study Solutions An Educational Platform for Learning and for the Help of students and also for researchers in clearing the concepts. In this post I will share the solution of MGT 101 GDB 1 Solution Fall 2022. This is the first GDB of MGT101. This GDB is about marketing mix. You have to calculate cost of goods sold, owner's ...
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