FINANCIAL ACCOUNTING (MGT101)

ASSIGNMENT # 01

TUBA SHABBIR (BC180204584)

Trial Balance
As on January 31, 2018

S. NO ACCOUNT NAME ACCOUNT DEBIT CREDIT

CODE
1 CASH 878,000
2 CAPITAL 1000,000
3 FURNITURE 90,000
4 PURCHASE 30,000
5 SALE 40,000
6 SELLING EXPENCE 10,000
7 ADMIN EXPENCE 17,000
8 DRAWINGS 15,000
GRAND TOTAL 1,040,000 1,040,000

REQUIREMENT NO. 2
CALCULATION OF GROSS PROFIT:-
SALES= 40,000
PURCHASE = 10,000
GROSS PROFIT = 30,000

REQUIREMENT NO. 3
TOTAL ASSETS AS ON JAN 31, 2018:-
CASH = 878,000
FURNITURE = 90,000
TOTAL ASSETS = 968,000