Sponsored Links

Results 1 to 2 of 2

Thread: FIN611 Advanced Financial Accounting Assignment 1 Idea Solution 16 april 2011

  1. #1
    Administrator Vuhelper's Avatar
    Join Date
    Apr 2011

    18 FIN611 Advanced Financial Accounting Assignment 1 Idea Solution 16 april 2011

    Sponsored Links1

    Spring 2011 - Assignment No. 01 Marks: 15
    Mr. Ali keeps his books under single entry system. His capital on 31st March,
    2010 is Rs. 60,000.
    On 1st October, 2010, Mr. Ali introduced Rs. 10,000 as additional capital in
    the business and withdrew on the same date Rs. 11,000, out of which he spent
    Rs. 10,000 on the purchase of a new machine for the business.
    On 31st March, 2011, his financial position was as follows:
    Cash in hand Rs. 27,000; Inventory Rs. 34,000; Accounts receivable Rs.
    24,000; Furniture Rs. 5,000; Accounts payable Rs. 20,000;
    From the above mentioned information, prepare the Statement of affairs as
    on 31st March, 2011 and Statement of Profit or Loss for the year ending 31st
    March, 2011 after taking into account the following adjustments:
    a) Depreciate furniture and machine @ 10% p.a;
    b) Write off bad debts Rs. 4,000 and provide 10% for doubtful debts;
    c) Goods taken by Mr. Ali for his personal use Rs. 1,500; &
    d) Provide interest on capital @ 10% p.a.

    Sponsored Links
    Attached Files Attached Files

  2. #2
    yah bhi ani thi assignment.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Replies: 0
    Last Post: 05-15-2013, 05:26 PM
  2. Replies: 0
    Last Post: 01-19-2013, 02:48 PM
  3. Replies: 0
    Last Post: 01-04-2013, 03:48 PM
  4. Replies: 0
    Last Post: 11-15-2012, 01:52 PM
  5. FIN611 Advanced Financial Accounting Assignment 2 (20 July 2010)
    By viki in forum Assignments & Solutions
    Replies: 0
    Last Post: 07-21-2010, 03:36 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
-: Vuhelp Disclaimer :-
None of the files shown here are hosted or transmitted by this server. The links are provided solely by this site's users. The administrator's or staff of Vuhelp.net cannot be held responsible for what its users post, or any other actions of its users. You may not use this site to distribute or download any material when you do not have the legal rights to do so. It is your own responsibility to adhere to these terms. If you have any doubts about legality of content or you have any suspicions, feel free to contact us.
Online Education | JhelumSoft