Solved Assignments

BUS5IAF – INTRODUCTION TO ACCOUNTING AND FINANCE

Show black on white to print? y BUS5IAF – INTRODUCTION TO ACCOUNTING AND FINANCE PART 2: PREPARING THE FINANCIAL STATEMENTS Thank you for submitting your advice regarding sources of finance.  Your client has carefully considered your advice in setting up the new business.  As you will see below, the client may have acted on all, some or none of your advice.  That is the nature of being a consultant.  Nevertheless, the client is happy with the advice you offered and seeks further assistance from you. As the client looked further into the feasibility of the new business, it soon became clear that there was much more demand than previously realised, and immediate plans were made to increase the size of the…

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FINACIAL MANAGEMENT COURSE – ACCT 702_001 W 18

PART A Fluffy Cupcake Company (FCC) is considering expanding by buying a new machine to add to its existing bank of equipment used for the business. Cost of the machine is $42,000 with a 10-yr useful life with expectation of zero terminal disposal value. This investment is expected to increase the cash revenues by $23,000 annually during the life of the asset and will have annual operating expense outlay of $18,000 per annum. FCC cost of capital is 6% and the company has no existing debt and their corporate tax rate is 30% Required: Should the proposal be accepted by FCC?   PART B One of FCC’s competitors Brownie Cake Company (BCC) is also interested in installing the same machine and…

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Comprehensive Manufacturing Budget

Question 3         Comprehensive Manufacturing Budget                                                                                 (25 marks) This question specifically addresses all 5 of the subject’s learning outcomes. This question builds on prior studies and relates to learning material and objectives from Online Modules 1, 2 and 3. Links to specific resources provided for this question relating to Manufacturing Budgets and Excel spreadsheets can be found in the Online Topic Modules and are also available in the Resources section of the subject interact site in the Excel Resources folder.   On your manager Deirdre Lynch’s return from China she has asked you to undertake a 3 month secondment to the Mercury Inc. wholly-owned subsidiary AusMilk Ltd where you will be based at their Australian Head Office in Albury Wodonga.…

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EX16_XL_COMP_GRADER_CAP_HW – Stock Transactions 1.5

EX16_XL_COMP_GRADER_CAP_HW – Stock Transactions 1.5   Project Description: In this project, you will update a workbook to display bank transactions as a PivotTable. You will filter the PivotTable, format the values, display the values as calculations, and create a PivotChart using this data. Additionally, you will sort and subtotal data, create data tables, and use Goal Seek and Scenario Manager. You will format grouped worksheets, set up validation rules, and create functions. You will also import a text file and XML data and manipulate the imported text. Finally, you will modify the document properties, insert a comment, and mark the workbook as final.   Instructions: For the purpose of grading the project you are required to perform the following tasks: Step…

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Automotive Parts Productions (APP) is a manufacturer of motor parts – Budget

Automotive Parts Productions (APP) is a manufacturer of motor parts for family cars based in Bendigo, Australia. These motor parts are sold directly to car manufacturers in Australia for use in making motors. The accountant of APP has compiled information regarding Part-1, one of the parts produced and sold by the company. The forecasted monthly sales units for part of 2018 are presented as follows:   June 30,000 July 40,000 August 50,000 September 54,000 October 60,000 November 64,000     The following part presents data obtained from the budgeting documents of the company:   Inventory balances and the related desired ending inventory policies are stated as follows:   Description July 1 balances Desired ending inventory policy (monthly) Finished Goods 28,000 70%…

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Retirement Accounts – One-Stop Finance is a company that works

Retirement Accounts   Project Description: One-Stop Finance is a company that works with Clients in all areas of finance. They assist with banking, financial planning, mortgages, stock, insurance, retirement counseling, and debt consolidation. Cala Hamieh, one of the senior planners for the company, is hoping to extract information from the database. The company has a large database with hundreds of thousands of accounts, but to allow you to rapidly test your queries, you have created a smaller version of the database with a small amount of clients. Once you are confident your queries work, you can import them in to the main Access database.   Instructions: For the purpose of grading the project you are required to perform the following tasks:…

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Consolidation – Getswift has acquired 100% of the shares of Pursuit Pty Ltd

Getswift Ltd is an Australian newly listed company which provides a software distribution solution. This is the same company that was used in the Individual assignment. It is expected that students research this company beyond just the financial statements (especially for Part B) Pursuit Pty Ltd has been a target customer of GetSwfit’s for many years. It is a large distribution company which services supermarkets. The acquisition of Pursuit would allow GetSwift to increase its scale and penetration into the market. The actual trading business of Pursuit is much larger than Getswift but it has been operating as a family run private business. The directors are John and Ellen Pursuit who are selling their business to retire. For the last few…

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FINANCIAL ACCOUNTING – ACCT1101 – Accounting Practice Set online

Another version of this question is available here INTRODUCTION The objective of this Accounting practice set is to provide students with an insight into the process of recording transactions, completing adjusting and closing entries, and preparing financial statements for a retail business. Company Background Salzbruck Musical Instruments Pty Ltd has been in business in Sydney since July, 2012. The company was started by William Jacques and operates a shop which sells musical instruments on a wholesale basis to other businesses on credit and cash terms. The company’s share capital consists of 1,134,000 ordinary shares, issued at $1 each, that are owned by various members of the Jacques family. The company employs a combination of both sales and administration staff to operate…

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FINA2006 Principles of Finance

Case study 1 (Valuation of stocks): (5 + 5 = 10 marks) You are an analyst employed by Vanguard Wealth, a wealth management firm operating in Sydney’s financial district. You have been approached by Mr George Fero who recently inherited $10 million dollars from his late aunt’ estate.  Mr Fero is considering putting all his money in stocks of one of these two Australian mining companies, his friends have told him that these two companies are good investments. Being a first time player on the market, he does not want to invest in more than one company. He thus want expert advice on which of the two to invest in. The following is information that is publicly available which is from…

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ACC514 – Accounting for share issues and revaluation of property, plant and equipment

Accounting for share issues On 1 February 2017, Beach Supplies Ltd was registered and issued a prospectus inviting applications for 2,000,000 shares, at an issue price of $3.50, payable as follows: $1.00 on application $1.50 on allotment (payment due within 1 month of allotment) $0.60 on first call $0.40 on final call The issue is underwritten at a commission of $30,000. By 28 February 2017, applications had been received for 1,900,000 shares. On 3 March, shares are allotted, and the underwriter forwarded the application and allotment money due on the 100,000 shares less their commission. All remaining allotment money is received by 3 April. Legal costs re company formation are $5,000 and are paid on 5 April. Share issue costs of…

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Norden Ltd grants to each of its 10 executives a choice

Task One Norden Ltd grants to each of its 10 executives a choice of receiving a cash payment equivalent to 1000 shares or receiving 1200 shares. The grant is conditional on the completion of 3 years’ service with the company. If the share alternative is chosen, the shares must be held for 2 years after vesting date. At the grant date the company’s share price is $25 per share. At the end of years 1, 2 and 3 the share price is $27, $28 and $30 respectively. The company does not expect to pay dividends in the next 3 years. After taking into account the effects of post-vesting transfer restrictions, the company estimates that the grant-date fair value of the share alternative is $24 per share.…

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BZ102 – ACCOUNTING PRINCIPLES

Complete Questions P 7-5 on pages 353 to 354 of Horngren’s Financial Accounting 8th Ed. P7-5 Using all the journals, posting and balancing the ledgers [30-40 mini] Prudhoe Bay uses the perpetual inventory system and makes all credit sales on terms of 2/10, n/30. During March, Prudhoe Bay completed these transactions: Mar 2 Issued invoice no. 191 for sale on credit to L. E. Wooten, $2350. Prudhoe Bay’s cost of this inventory was $1 390. 3 Purchased inventory on credit terms of 3/10, n/60 from Delwood Plaza, $5900. 4 Sold inventory for cash, $3410 (cost, $1 820). 5 Issued cheque no. 473 to purchase furniture for cash, $1 080. 8 Collected interest revenue of $120. 9 Issued invoice no. 192 for…

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