MGT101 - Financial Accounting Quizzes & GDB

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MGT101 - Financial Accounting Quizzes & GDB

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MGT 101 QUIZ I DUE DATE 19TH MAY 2016

Started by aneesa. Last reply by Umm e Habiba Apr 26, 2017. 10 Replies

MGT101....QUIZ #1 ......25 April2017

Started by _((¯°·._.• ąąβɨяąh ąώąɲ •._.·°. Last reply by _((¯°·._.• ąąβɨяąh ąώąɲ •._.·° Apr 25, 2017. 3 Replies

MGT101...Quiz No' 4 ... Due Date: February 16, 2017

Started by ❦ ℓσуαℓ. Last reply by Waqar Durrani (Def Sem. MBA) Feb 17, 2017. 1 Reply

MGT101 ... Quiz No'3 ... Due Date: 12th Jan' 2017

Started by ❦ ℓσуαℓ. Last reply by MeHwish Jan 11, 2017. 1 Reply

MGT101 Quiz no' 2 ... Due Date: Dec. 6' 2016

Started by ❦ ℓσуαℓ. Last reply by ❦ ℓσуαℓ Dec 6, 2016. 37 Replies

MGT101 Quiz no' 2 (All Questions Out) ... Due Date: Dec. 6' 2016

Started by Waqar Durrani (Def Sem. MBA). Last reply by Waqar Durrani (Def Sem. MBA) Dec 4, 2016. 1 Reply

MGT101 Quiz No'1 - Due Date: Nov.28' 2016

Started by Omama Khan {BSCS~1} A*. Last reply by Waqar Durrani (Def Sem. MBA) Nov 27, 2016. 4 Replies

MGT101 - Financial Accounting GDB No. 1 Spring 2016 Due Date Wednesday, July 20, 2016

Started by + + ღ♥!~Ӑӎᴤᶏḫ ṦђƐịκҤ~!♥ღ+ +. Last reply by Noghman Khokhar Jul 20, 2016. 13 Replies

GDB No. 01

Started by + '"Þřε¢ισùȿ M¢Ǫυεεñ βȿ(ȿ.ƹ.)2ɲȡ Nov 27, 2015. 0 Replies

MGT101 - Financial Accounting Quizzes & GDB NO 4

Started by Darakhshan Tariq (BSIT) 2nd. Last reply by Warrior Aug 11, 2015. 23 Replies

MGT GDB no 2

Started by Darakhshan Tariq (BSIT) 2nd. Last reply by Darakhshan Tariq (BSIT) 2nd Aug 4, 2015. 53 Replies

MGT101 GDB2 July 30, 2015

Started by +*Princess BSSE*+7th. Last reply by +*Princess BSSE*+7th Jul 30, 2015. 3 Replies

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Comment by Abdul Waqas on August 6, 2016 at 11:29pm

anyone attempt MGT 101, quiz # 3, please share the solution. due date will be tomorrow.

Comment by aneesa on May 17, 2016 at 6:35pm

did anyone try to attempt MGT101 quiz 1 due date 19th may.

Comment by FAROOQ(BSCS) on November 20, 2015 at 8:41pm

MGT101 - Financial Accounting Quiz-01

Comment by Ice Cream BSc(CS) 2nd on December 4, 2014 at 5:43pm

GDB ke kaya samja nahi a rahe ap ko

Comment by KWM_MsBA on December 2, 2014 at 12:13am

Topic to be tested:
Financial Statements

Learning Objectives:
To develop an understanding regarding the treatment of elements of financial statements

CONSTRUCT:
Star Corporation runs a kitchen and cookware shop in Lahore. Company book-keeper has just extracted the year-end trial balance shown below. Note that the extracted trial balance includes the stock value at the start of the year; closing stock valuation is given after the extracted trial balance. The stock of goods for resale is valued by the business at the end of each financial year, and the valuation is subsequently entered into the book-keeping system, for the purposes of financial reporting.

Extracts of Trial balance of Star Corporation, as at 30 June 2013

Description
Dr.
Rs.
Cr.
Rs.
Treatment
Stock at 1 July 2012
100,000

Trading A/C (Cost of Goods Sold)
Shop Fittings
53,000

?
Value Added Tax

6,500
?
Shop Expenses
9500

?
Additional Information: Stock at 30 June 2013 was valued at Rs. 72,000

DISCUSSION QUESTIONS:

1. You are required to recognize the accounting treatment for each extracted trail balance item according to the given example highlighted with red color.

2. Why value of stock at 30 June 2013 is reported as additional information rather than appearing in trial balance? Answer with logical reasoning.

Important Instructions:
1. Your discussion must be based on logical facts.
2. Solution must be provided in the recommended table / format
3. Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
4. Obnoxious or ignoble answer should be strictly avoided.
5. Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over.

Comment by Guria (MIT 1st) on January 23, 2013 at 9:40am

plzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz tellllllllllllllllllllllllllllllllllllllllll meeeeeeeeeeeeeeeeeeeeee

Comment by Guria (MIT 1st) on January 23, 2013 at 9:36am

muja koi  mgt101 ka gdb  krva day

Comment by anum khan (psycology) on November 27, 2012 at 8:24pm

i can not understnd it koi mje smjhaey ga plzzzzzzzz

Comment by Xubair Xecuted (BSCS-2nd Sem) on November 26, 2012 at 7:47am

there is not GDB open for MGT101, isnt it?

Comment by MIK(MBS-Sm_1) on November 26, 2012 at 12:53am

waiting for help in GDB, can anyone?

 
 
 

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