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MGT 101 Assignment File:
QUESTION
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:
Based on the above information of
ABC Traders, you are required to calculate the amount of:
1. Sales Revenue
2. Fixed Assets
3. Current Assets
4. Current Liabilities
5. Selling expenses
Capital to be shown in balance sheet as on 31st
December 2017
Solution:
1 .Sales Revenue :
Gross Profit =
Sales- Cost of Goods Sold
40000 = Sales
-55000
40000 +
55000 = Sales
Sale
Revenue = 95000
2.
Fixed Assets :
Fixed Assets = Plant and machinery + Land and
Building + Furniture and fixtures
Fixed Assets = 750000 +840000 +
170000 = 1760000.
Fixed Assets = 1760000
3.
Current Assets :
Current Assets = Cash at bank + Income
earned expected to be received within 3
months + Closing Stock
Current Assets = 45,000 + 10,000 +20000
Current Assets = 75000
4.
Current Liabilities :
Current Liabilities = Office Expenses incurred
expected to be paid within 3 months + Sundry Creditors
Current Liabilities = 15000 +25000 = 40000
Current Liabilities = 40000
5. Selling Expense :
Selling Expense = Salaries of marketing Staff +
Advertisement Expense
Selling Expense = 150000 +65000
= 215000
Selling Expense
= 215000
6.
Capital to be shown in balance sheet as on 31st December 2017 ?
Capital = Capital + Net profit
Capital = 500000 +46000 = 546000
Capital to be shown in balance sheet as on 31st
December 2017 = 546000
Note : if you found any mistake then correct yourself I m not responsible in case of zero marks
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