MGT101 Solution by Mahoo Khan

MGT101 Assignment Solution

Name: ____________________ ID: ______________________

1. Cash at Bank

Transactions affecting Bank:

• April 25: Furniture purchased, paid by cheque: - Rs. 150,000
• April 28: Salaries paid by cheque: - Rs. 350,000

Total: Rs. 100,000 · 2. Debtors · Transactions affecting Debtors:

• April 04: Credit sale to Yasir Brothers: + Rs. 50,000
• April 20: Credit sale to Rahim Brothers: + Rs. 250,000

Total: Rs. 700,000 · 3. Creditors · Transactions affecting Creditors:

• April 12: Credit purchase from XYZ Traders: + Rs. 70,000

Total: Rs. 570,000 · 4. Notes Payable · Transactions affecting Notes Payable:

• April 25: Furniture purchased, balance paid by promissory note (250,000 - 150,000): + Rs. 100,000

Total: Rs. 400,000 · 5. Cash in Hand · Transactions affecting Cash:

• April 02: Cash purchase (after 20% discount on Rs. 50,000 = Rs. 40,000): - Rs. 40,000
• April 08: Cash sale: + Rs. 60,000