MGT101 Assignment No 1 Solution Spring 2018

MGT101 Assignment No 1 Spring 2018

Dear Students, Here you can read or Download MGT101 - Financial Accounting Assignment No 1 Solution and Discussion of Semester Spring 2018. Assignment Due Date is 16 MAY, 2018. Total Marks are 10.

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MGT101 Assignment No 1 Solution Fall 2018 : Download

MGT101 Assignment No 1 Solution and Discussion Spring 2018

MGT101 Assignment Topic:

In this Assignment basic understanding is to be required for the preparation of financial statements.

MGT101 Assignment Learning Objective

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

MGT101 Assignment 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.

MGT101 Assignment 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.

MGT101 Assignment 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.

MGT101 Assignment Rules of 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.

Recommended : MGT101 Current and Past Mid Term Papers Fall 2017.

Dear students!
Please Note : 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.

MGT101 Assignment Question No 1:

Following information is extracted from the books of ABC Traders on 31st December 2017.

Particulars	Rs.	Particulars	Rs.
Cost of goods sold	55,000	Gross profit	40,000
Plant & Machinery	750,000	Land & Building	840,000
Furniture and Fixtures	170,000	Cash at bank	45,000
Income earned expected to be received within 3 months	10,000	Office expenses incurred expected to be paid within 3 months	15,000
Opening stock	24,000	Closing stock	20,000
Sundry creditors	25,000	Capital at the start of the period	500,000
Profit earned during the period	46,000	Salaries of marketing staff	150,000
Rent of office building	60,000	Advertising expenses	65,000
Wages paid to workers	33,000	Mark up on loan	14,000

Required Tasks:
Based on the above information of ABC Traders, you are required to calculate the amount of:

Sales Revenue

Fixed Assets

Current Assets

Current Liabilities

Selling expenses

Capital to be shown in balance sheet as on 31st December 2017.

Recommended : MGT101 Mid Term Solved MCQs Spring 2017.