Assignment No 1

Mgt 101

Intangible Asset

Intangible Asset =Copy’s rights + good will

Intangible Asset =250000+150000
Intangible Asset =400,000
Q2.
Owners equity
Assets = Liabilities + Owner’s equity
Owner’s equity =Assets - liabilities
Owner’s Equity = 2240000-1030000
Owners equity = 1210000
Q3
Total Income /Revenue

Total Income /Revenue = amount earned on sales of goods + amount earned by rendering
services
Total Income /Revenue = 121000+840000
Total Income /Revenue= 961000
Q4.

Selling expense
Selling Expense = advertisement expense + carriage /transport paid on sales of good
Selling expense = 65000+160000
Selling expense =225000
Q5.
Cost of goods sold
Cost of goods sold =purchase +carriage /transportation paid on purchase
Cost of goods sold = 550000+50000
Cost of goods sold =600000

Note: if you found any mistake then correct ur self

Prepared By Admin Rana Bilal