SEMESTER FALL 2019

FINANCIAL ACCOUNTING (MGT101)

ASSIGNMENT # 01

Solution:-

1-Intangible Assets

Intangible Assets = Copyrights+Goodwill

=250,000+150,000

Intangible Assets =400,000

2-Equity

Equity = Total Assets-Total Liabilities

=2,240,000-10,30,000

Equity =1,210,000

3-Total Income/Revenue

Total Income/Revenue =Amount earned on sale of goods+Amount earned by rendering services

=121,000+840,000

Total Income/Revenue =961,000

4-Selling Expenses

Selling Expenses = Advertising expenses+Transportation paid on sale of goods

=65,000+160,000

Selling Expenses=225,000

5-Cost of goods sold

Cost of goods sold =Purchases+Transportation paid on purchases

=550,000+50,000

Cost of goods sold =600,000