GDB

WHAT IS GDB? HOW TO PREPARE AND SUBMIT GDB?’gdb

GDB stands for the Graded Discussion Board. Instructor gives a topic for discussion. GDB has a weight-age of 5% of your total subject marks. Discussion must be based on logical facts.

Guidelines for Preparation:

Use your own wordings Read the instructions carefully before sending your comments. For acquiring the relevant knowledge, do not rely only on handouts but watch the course video lectures, read handouts and also use other reference books.

You can post VU Online GDB answer through VULMS.

Important Instructions before submitting GDB

  1. The GDB will remain open for 120 hours’ time mention on LMS.
  2. The GDB will open and close at the above-specified date and time. Please note that no grace day and extra time will be given for posting comments on GDB.
  3. You should post your answer on the Graded Discussion Board (GDB), not on the Moderated Discussion Board (MDB). Both will run parallel to each other during the time specified above.  Therefore, due care will be needed.
  4. You cannot participate in the discussion after the due date.
  5. For planning your semester activities in an organized manner, you are advised to view the schedule of upcoming Assignments, Quizzes, and GDB in the overview tab of the course website on VU-LMS.
  6. Questions/queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of the GDB is over.
  7. Your comments should be relevant to the topic i.e. clear and concise (Maximum 5-7 lines answer).
  8. Books, websites and other reading material may be consulted before posting your comments. (Do not copy the material as it is.)
  9. No extra time will be given for discussion.
  10. You cannot participate in the discussion after the due date or through e-mail.

MGT101 Financial Accounting GDB 1 Solution 2020

GDB NO 1 Question:-

Mr. Waseem is working as an accountant in a business organization under the name of ABC Brothers. He has recently prepared financial statements by using the data available in Trial Balance of ABC Brothers and he has presented the financial statements to the Manager accounts of the organization. Manager accounts observed the following errors in the income statement prepared by Mr. Waseem, which produce inaccurate financial affairs of the business. (MGT101 Financial Accounting GDB 1 Solution 2020  click here….. )

  1. Carriage inwards of Rs. 35,000 wrongly reported under the head of selling expenses.
  2. Carriage outwards of Rs. 15,000 wrongly reported under the head cost of goods sold.
  3. Selling expenses of Rs. 20,000 wrongly reported under the head of administration expenses.
  4. Financial expenses of Rs. 13,000 wrongly reported under the head of selling expenses.

Required:

  1. What will be the correct amount of Gross profit, if Gross profit before correcting the given errors was Rs. 335,000?
  2. What will be the correct amount of Cost of goods sold, if the reported amount of sales was Rs. 400,000?
  3. What will be the effect of error “ Carriage inwards of Rs. 35,000 wrongly reported under the head of selling expenses” on the Cost of goods sold? (Just mention whether the Cost of goods sold would be overstated, understated or remains unaffected)
  4. What will be the effect of given errors on net profit? (Just mention whether the net profit would be overstated, understated or remains unaffected)

Click here for solution file..

(MGT101 Financial Accounting GDB 1 Solution 2020  click here….. )

 

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