MGT 101 assigment no 1

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ABC Company Income Statement For the period Ending 30th June, 2011. Particulars Amount (Rs.) Amount (Rs.) Income/Sales/Revenue 210,000 Cost of Goods Sold Purchases Less: Purchases Return Carriage inward Net Purchases Total Cost of Goods Sold 120,000 (6,600) 23,475 (136,875) 136,875 Gross Profit Less: Advertisement Expenses Interest Expenses Salaries Expenses Carriage on Sales 12,000 5,300 36,000 8,730 73,125 Net Profit 11,095 ABC Company Balance Sheet For the period Ended on 30th June, 2011. Particulars Amount (Rs.) Amount (Rs.) ASSETS Furniture & Fixtures Plant & Machinery Land & Building TOTAL FIXED ASSETS Cash In Hand Prepaid Insurance Accounts Receivable TOTAL CURRENT ASSETS 7,800 72,000 246,000 325,800 45,000 10,200 192,495 247,695 TOTAL ASSETS 573,495 LIABILITIES Creditors Accounts Payable Outstanding Salaries TOTAL LIABILITES Capital Profit for the Year TOTAL OWNERS EQUITY 348,000 11,095 200,000 11,400 3,000 214,400 359,095 TOTAL LIABILITIES & OWNERS EQUITY 573,495