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Financial and Management Accounting MB0025
Financial and Management Accounting MB0025
Liabilities and
owner's
Transac Assets equity
tion Cas Goo Sal Mr.X's
Numbe h ds ary Liabili Capita
r a/c a/c a/c ties l
800
80000
1 00
-
70,0
400 30000
00
2 00
-
400
250 15000
00
3 00
4 - 200
Financial and Management Accounting MB0025
6
200
0
0
-
200 -20000
5 00
580 450 200
30000 75000
00 00 0
105000 105000
Debit Credit
Particulars
[Rs.] [Rs.]
To Suspense
account
Salary account 6000
Dr
6000
To rent
account
Shyam account 7000
Dr
7000
To Ram
account
Jadu account 8640
Dr
8640
To Madhu
account
Trading Account
Dr Cr
Sales - Return 243,5
Opening stock 5,000
Inward 00
Purchases - Return 192,5 125,0
Closing Stock
Outward 00 00
Carriage Inwards 4,000
14,00
Wages
0
153,0
Gross Profit
00
368,5 368,5
00 00
Balance Sheet
Capital and Liabilities Assets
15,00 Sundry 150,0
Bills Payable
0 Debtors 00
Financial and Management Accounting MB0025
11
89,50 Office
Capital 5,000
0 Furniture
98,25 Cash in
Creditors 2,500
0 Hand
Net Profit from P & L 126,0 Cash in 23,75
Account 00 Bank 0
22,50
B/R
0
Closing 125,0
Stock 00
328,7 328,7
50 50
b. Prepaid expenses:
Budgetary control:
Increa Decrea
2002 2003
se se
Liabilities
Sundry Creditors 9,000 5,000 - 4,000
Long term loans 0 5,000 5000
P&L/c 14500 24500 10000
23,50 34,50 10,00
Total liabilities [B] 9,000
0 0 0
Assets
Cash in Hand 4000 9000 5000
Sundry Debtors 16500 19500 3000
Stock 9000 7000 2000
Machinery 24000 34000 10000
Total Assets (A) 5350 6950 10000 2000
0 0
Solution:
Income Statement
No. Of computers produced 100
No. Of computers sold 100
Unit selling price per computer 42000
unit variable cost per 28000
computer
Sales revenue =No. Of
computers sold X unit selling 4200000
price
Less variable cost (100 X -2800000
28000)
Less Fixed expenses -1400000
Profit or loss 0
unit. Fixed cost Rs.80, 000 per annum.
Sales at present 50,000 units per annum. Selling
price Rs.6 per unit, Prime cost
Rs.3 per unit. Variable overheads Re.1 per unit.
Fixed cost Rs.75, 000 per
annum.
Solution:
………End……….