Financial Accounting (Mgt-101)
VU
ASSETS Fixes Assets Long Term Assets Current Assets
75000 20000 80000
Total
175000
LIABILITIES Capital Profit
100000 15000
Long Term Liabilities Current Liabilities Total
115000 50000 10000 175000
SOLVED EXAMPLES ILLUSTRATION # 1 The following is the trial balance extracted from the books of Naeem & Sons as on 30/06/2002. Prepare a profit & loss account & balance sheet for the year ended June 30, 2002. Particulars Sales Purchases purchase return Salaries Rent Debtors Creditors Capital Plant & machinery
Dr.
400,000
Grand Total
487,000
Cr. 100,000
45,000 3,000 12,000 5,000 25,000 16,000 368,000
Copyright ŠVirtual University of Pakistan
487,000
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