AFA-Lec-2 - AdvancedFinancial Accounting FIN611...

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    Advanced Financial  Accounting FIN-611   Mian Ahmad Farhan  Lecture-2 Single Entry 
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    Statement of Affairs  Assets  Amount  (Rs) Liabilities  Amount  (Rs) Equipments Stock Debtors Prepaid expenses Bank balance  Cash xxx xxx xxx xxx xxx xxx xxx Loan  Creditors Payable expenses Owner’s equity/Net  Assets (Balancing  figure) xxx xxx xxx xxx xxx xxx xxx
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    Question Capital 31-12-2007 Rs. 18,700 Capital 31-01-2007       19,200 Loan to brother         3,500 Personal expenses       300 per month  Pay to family member                                       100 per month Electricity charges            10 per month                                             Investment in securities 2,000        At 3% premium                    60 Fresh capital  2,060   
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    Solution  Working note of drawings:
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This note was uploaded on 05/15/2010 for the course ACCOUNTING B97702031 taught by Professor Lyz during the Spring '09 term at Punjab Engineering College.

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AFA-Lec-2 - AdvancedFinancial Accounting FIN611...

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