FIN 611 Assignment 1 Solution fall 2020

 Today we solve FIN 611 Assignment no 1 - but you must first support us on social networks so that you get 24 hours updates. I hope you understand the whole Assignment and Quiz, GDB. And if you have any opinion about this Assignment, you can tell in our comment section.FIN 611 Assignment Solution fall 2020 Idea. Don't copy the same because the mark is zero.FIN 611  Assignment solution fall 2020.

FIN 611 Assignment 1 Solution Fall 2020

FIN 611 Assignment solution fall 2020. Don't copy it before you start - if you do, you'll be responsible. FIN 611 Assignment solution fall 2020. And if you have any feedback on this Assignment, please let us know in your comments section.FIN 611 Assignment  Solution fall 2020.

PART 1:

FIN 611 assignment 1 solutions 2020,

Instructions:

Please read the following instructions carefully before submitting the assignment:

You need to use MS word document to prepare and submit the assignment on VULMS.

It should be clear that your assignment will not get any credit if:

§  The assignment is submitted after the due date. 

§  The assignment is not in the required format (.doc or Docx)

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§  The submitted assignment does not open or the file is corrupt.

§  Assignment is copied (partial or full) from any source (websites, forums, students, etc)

PART 2: 

FIN 611 Assignment 1 solution 2020

Solution:

Branch Account

Dr.                                                                                                                                           Cr.

Particulars	Rs.	Particulars	Rs.
Opening Furniture A/c	23,400	Stock Reserves 82,000 x 25/125	16,400
Opening Stock	82,000	Good Sent	125,600
Stock Reserves A/c 96,000 x 25/125	19,200	Bank A/c (Cash remitted to Head Office)	750,000
Good Sent	628,000	Bank A/c (Recovered bad debts)	10,000
Opening Account Receivable	31,700
Bank A/c Expenses	132,000	Closing Stock	96,000
		Closing Furniture A/c	23,435
		Closing Account Receivable	42,150
Profit & Loss A/c	147,285
	10,63,585		10,63,585

 

Depreciation:

                        Old Furniture                        = 23,400x 10/100 x 12/12 = 2,340

New Furniture          = 2,500x 10/100 x 6/12 = 125

                                    = 2,340 + 125 = 2,465

 

 

Debtors Account

Dr.                                                                                                                                           Cr.

Particulars	Rs.	Particulars	Rs.
Opening Debtors	31,700	Cash received from debtors	361,650
Credit Sales	372,100	Closing Debtors	42,150
	403,800		403,800

 Petty Cash

Dr.                                                                                                                                           Cr.

Particulars	Rs.	Particulars	Rs.
Cash Sales	401,300	Cash remitted to do	750,000
Cash received from debtors	361,650	Furniture	2,500
		Expenses Paid and Cash Paid	10,450
		Balance c/d	0
	762,950		762,950

 

Thank You!

FIN 611 Assignment 1 Solution fall2020