MGT401 Assignment solution 2022

 

 

                            MGT401 Assignment solution 2022 

FOR MIDTERM Preparation All Notes are available 

Topic: IAS 01 (Presentation of Financial Statements) 

Learning Objective The students are intended to learn the preparation of the Statement of Profit and Loss and Statement of Financial Position. 

Learning Outcomes

 

After going through this activity, the students will be able to prepare Statement of Profit and Loss and Statement of Financial Position from trial balance.

GIVEN ALL OF DATA:

Heads of Accounts Rs. 

Heads of Accounts Rs. 

Cost of sales 25,000 

Paid up share capital 400,000 

Selling commission 2,000 

Retained earnings 01.01.2021 45,000 

Carriage out 1,500 

Revaluation surplus 2,200 

Depreciation 4,500 

Long term loan 5,500 

Employees’ salary 10,000 

Debentures 400,000 

Marketing expenses 9,000 

Trade payables 20,400 

Bad debts 4,000 

Short term loans 8,000 

Office rent 2,000 

Sales 600,000 

Legal expenses 7,000 

Repair and maintenance 

1,700 Interest expense 1,200 

Tax expense 3,200 

Property, plant and equipment 650,000 

Intangible assets 400,000 

Long term investments 200,000 

Cash and bank balances 150,000 

Inventories 10,000 

Total 1,481,100 

FOR SOLUTION FILE CONTACT ME AT 03154600411

IMPORTANT 24 hours extra/grace period after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience. 

IMPORTANT/SPECIAL INSTRUCTIONS/SOLUTION GUIDELINES: BE NEAT IN YOUR PRESENTATION 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. 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. 

REFERENCING GUIDELINES 

 Use APA style for referencing and citation. For guidance search “APA reference style” in Google and read various websites containing information for better understanding or visit http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html RULES FOR 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.

 

Note related to load shedding: Please be proactive Dear students! As you know that Pre-Mid-Term semester activities have started and load shedding problem is also prevailing in our country. 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 or GDBs.