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FA 2 S.M Hassan Askari.
FA 2 S.M Hassan Askari.
Code:
ACC- 301 Class: ADP-II
Course:
Financial Accounting-I Duration: 2 Weeks
Instructor:
Hyder Ali Marks: 10 Marks
Important instructions:
1. Make title proper page. Must write your name, ID and signature on first page.
2. Hand written assignment on A4/letter sized lined paper sheets with page number.
3. Submit your assignment on KASBIT LMS before. 16 March 2021 till 9:00 am
4. Make one pdf file of your assignment then submit. Assignment will not grade if student
submit multiple pages of assignment.
5. File name must be first student ID then name e.g. 12345_ali
6. Late submission assignment will not be acceptable and will not be graded.
Fahad Raheel
Fahad
Raheel
They further decided that they make capital of Rs 550,000 and 650,000
Required
REQUIRED
Prepare Income Distribution summary of the firm for the year ended December 31, 2017. Also record
the necessary journal entries for the distribution of profit
Q3.
David Company Ltd. Completed the following transactions
1. The Company issued 70,000 share of Rs. 10 each at Rs. 12 but received applications for
80,000 shares. The Company finalized the allotment and refunded the excess amount.
2. The Company purchased a running business and acquired the following assets and liabilities.
4. Purchased a machine worth Rs. 2,00,000 and in consideration issued shares of Rs. 10 each.
Each share had a market value of Rs. 12.50.
5. Purchased Office Equipment and in consideration issued 10,000 shares of Rs. 10 each. The
market value of the share was Rs. 13.
6. Issued 2,000 10% debenture of Rs. 100 each at Rs. 95 redeemable after five years at Rs. 105.
Required
Give Journal entries in proper form of the above transactions on the books of David Company
Ltd.