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MGT401 Financial Accounting II


MGT401 Financial Accounting II

MGT401 Financial Accounting II.Download/upload Video Lectures, Handouts, Helping Materials, Assignments Solution, Online Quizzes, GDB, Past Papers, Solved Papers and more….

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Latest Activity: Dec 3, 2014



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Comment by + ★ HAMMAD ★ on August 3, 2014 at 1:05pm

Comment by + Awais... on August 1, 2014 at 7:59pm

Comment by + Awais... on August 1, 2014 at 7:59pm

nyc group

Comment by madiha janjua (MJ on February 11, 2014 at 7:49pm


Ralph Leasing enters into a non-cancelable lease contract on January 1st, 2001 with RP Company to supply highly sophisticated laboratory equipment on the following terms:

a)   The contract is for a lease term of 6 years with the immediate inception;

b)   Annual installment of Rs.124,798 is to be made on January 1st each year commencing from 2001:

c)   The asset will revert to the lessor at the end of the lease term.

d)   Residual value of the equipment at end of lease term has been guaranteed by the lessee at Rs.50, 000;

e)   The lessor’s implicit rate is 12 % for this type of lease; &

f)    The economic life of this leased equipment with fair value of Rs. 600,000 has been estimated at 6 years.

The lessee uses following accounting policy to treat this equipment is its books of accounts:

a)   Straight-line depreciation method with full year depreciation in the year of purchase and no depreciation in the year of sale;

b)   Useful life for all such equipment is estimated at  8  years;

In 2004, the equipment was revalued at Rs. 560,000 by an independent valuer. At the end of sixth year, the asset was disposed of at Rs. 350,000 due to some technical faults developed therein.



a)   Apply each test whether the lease is a financial lease or operating lease;

b)   Prepare a lease amortization schedule suitable for the lessee for the entire lease term;

c)   Amount of depreciation after revaluation; &

d)   Amount of unrealized surplus at the end of lease term.

(Hint: Test five conditions as per IAS 17 to declared a lease as finance lease)

Comment by AZEEM(MBS) on December 7, 2013 at 7:59pm



Freight in


Purchases return and allowances


Marketing expenses


Finished goods Inventory, ending


Cost of goods sold

700% of marketing expenses

Calculate the cost of goods available for sales if Gross Profit is 50% of cost of goods sold??

Comment by madiha janjua (MJ on July 29, 2013 at 5:33pm

Comment by madiha janjua (MJ on July 28, 2013 at 5:41pm

MGT 401 final term solved paper 



remebr me in ur pryer 

is ke alwah kisi our ki pas then add that pge..

Comment by madiha janjua (MJ on July 22, 2013 at 9:46am

need for mgt 401 final term solved paper atuf subject 

Comment by Alizaa khan on June 3, 2013 at 12:58pm
Comment by +*PŔĨŃČĔŚŚ*+ on May 14, 2013 at 9:39pm

nice group



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