Following information is extracted from the books of ABC Business on 30
th June 2019.
Particulars Rs. Particulars Rs.
Advertising expenses 65,000 Amount earned on sale of goods 121,000
Carriage/Transportation paid on
sale of goods
160,000 Amount earned by rendering
services
840,000
Purchases 550,000 Total Liabilities 10,30,000
Carriage/Transportation paid on
purchases
50,000 Copy rights 250,000
Rent of office building 278,222 Goodwill 150,000
Taxes paid 20,364 Furniture and Fixtures 170,000
Mark up on loan 15,228 Plant & Machinery 750,000
Salaries paid to employees 16,369 Land and Building 770,000
Bank charges 29,367 Cash in hand 150,000
Other financial charges 17,268 Total Assets 2,240,000
Note: There is no opening and closing stock of inventory
Required:
Based on the above information of ABC Business, you are required to calculate the
amount of:
1. Intangible Assets
2. Equity
3. Total Income/Revenue
4. Selling Expenses
5. Cost of goods sold
Answers
Answer:
total income /revenue
Question:
Following information is extracted from the books of ABC Business on 30
th June 2019.
Particulars Rs. Particulars Rs.
Advertising expenses 65,000 Amount earned on sale of goods 121,000
Carriage/Transportation paid on
sale of goods
160,000 Amount earned by rendering
services
840,000
Purchases 550,000 Total Liabilities 10,30,000
Carriage/Transportation paid on
purchases
50,000 Copy rights 250,000
Rent of office building 278,222 Goodwill 150,000
Taxes paid 20,364 Furniture and Fixtures 170,000
Mark up on loan 15,228 Plant & Machinery 750,000
Salaries paid to employees 16,369 Land and Building 770,000
Bank charges 29,367 Cash in hand 150,000
Other financial charges 17,268 Total Assets 2,240,000
Note: There is no opening and closing stock of inventory
Required:
Based on the above information of ABC Business, you are required to calculate the
amount of:
1. Intangible Assets
2. Equity
3. Total Income/Revenue
4. Selling Expenses
5. Cost of goods sold
Answer:
3. Total Income/Revenue is the answer.