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[Solved] MGT101 Assignment 1 Solution Spring 2021 || Financial Accounting || 100% Correct Solution


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MGT101 ASSIGNMENT 1 SOLUTION 2021


 

GROSS PROFIT

Net sale-Less cost of goods sold = Gross Profit

65,000 – 25,000 = 40,000

PURCHASE

Cost of good sold – Less opening stock = Purchases

25,000 – 15,000 = 10,000

NET BOOK VALUE OF PLANT & MACHINERY

Cost of assets – Less acc dep

100,000 - 20,000 = 80,000

Less depreciation (100,000*10%) 10,000

Book value of assets  90,000

NEW MACHINE                           30,000

Less Depreciation (30,000*10%*3/12)     730

Book Value    29250

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