AM Airways Pty Ltd (AMAPL) operates regional air services

QUESTION   1 This question has two parts – Part A and Part B.   Part A AM Airways Pty Ltd (AMAPL) operates regional air services to corporates and the general public in South Australia.  Its financial year ends on the 30th June.  You are provided with transactions which occurred during March 20X1.  Each transaction is provided separately below together with a blank general journal template.     Required Prepare general journal entries for AM Airways Pty Ltd (AMAPL) for a selection of transactions for March 20X1 which are listed below.  If you believe a general journal entry is not required then just make that comment in the journal template.  In keeping with AMAOL’s high standards each journal entry you write must…

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Clifford Limited trade receivables balance

Question 1   Clifford Limited trade receivables balance as at 31 October 2019 was €212,280. The following transactions took place during November and December 2019:     Nov 2019 € Dec 2019 € Cash sales Credit sales Sales returns from credit customers Settlement discounts allowed Cheques received from credit customers Bad debts written off Recovery of bad debt written off in 2018 Amounts due from customers to be offset against purchases in the purchase ledger Cash refunds to customers who returned items after payment  70,200 145,700 3,100 1,880 160,400 2,500 500 2,680   1,000  67,000 165,200 5,880 2,460 142,480 4,200 Nil 3,000   Nil   At 31 December 2019, there was no bad debt provision for outstanding balances recognised in the…

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BF 330: FINANCIAL RISK MANAGEMENT – Platinum Real Estate Consulting Group

QUESTION ONE Platinum Real Estate Consulting Group, owner of a number of properties dotted around Lusaka is faced with a choice of: A large-scale investment (A) to improve its flats. This could produce a substantial pay-off in terms of increased revenue net of costs but will require an investment of K1, 400,000. After extensive market research it is considered that there is a 40% chance that a pay-off of K2, 500,000 will be obtained, but there is a 60% chance that it will be only K800, 000. A smaller scale project (B) to re-decorate its premises. At K500, 000 this is less costly but will produce a lower pay-off. Research data suggests a 30% chance of a gain of K1, 000,000…

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2102AFE Financial Accounting – Magpie Ltd uses many kinds of machines

Topic 6 – Regulation, PP&E and Intangibles   Question 1 Magpie Ltd uses many kinds of machines in its operations. It constructs some of these machines itself and acquires others from the manufacturers. Machine A was acquired on 1 July 2017. Machine A has a useful life of 5 years and has a zero residual value. The Machine A is depreciated on a straight-line basis. The following information relates to Machine A that it has recorded in the 2017–18 period. Machine A Cash paid for machine A, including GST of $8,000 Costs of transporting machine — insurance and transport Labour costs of installation by expert fitter Labour costs of testing machine Insurance costs for 2017–18 Costs of training for personnel who…

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COMP1750 – G’day – MS Access

Case Background G’day ticketing company has been selling concert tickets featuring different artists for the past 18 years across Australia. You have been hired to build a database to store and record their ticket sales, as well as preparing queries, forms, reports, and a user-friendly navigational menu.   Task Descriptions Your tasks in this assignment are as follows:   Task  1:        Setting up Database Note that anything with “???” means that you will need to assign an appropriate replacement. Create a blank database called GDAY followed by your student ID number (e.g. GDAY12345678). Artist Table a. Create the table Artist with the following fields and properties: Field Name Data Type Description Properties ArtistID Number Artist/Band ID Size: Integer AName Short Text…

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BAO2203 – The financial information for Moon Ltd and its 100% owned subsidiary

Another version of this question is available here.   CONSOLIDATIONS AND INTER-COMPANY TRANSACTIONS. The financial information for Moon Ltd and its 100% owned subsidiary, Light Ltd, for the period ended 31 December 2022 is as follows:   Moon Ltd Light Ltd Sales revenue $ 60 000 $ 57 000 Dividend revenue 3 000 0 Gain on sale of property, plant and equipment 3 000 5 000 Other income 4 000 6 000 Total income 70 000 68 000 Cost of sales 45 000 38 000 Other expenses 7 000 4 000 Total expenses 52 000 42 000 Profit before income tax 18 000 26 000 Income tax expense 5 800 6 100 Profit for the period 12 200 19 900 Retained…

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Benedetto Fallica is a manufacturer of fashionable clothing

Benedetto Fallica is a manufacturer of fashionable clothing.  He hired Nadim Youkim as his CFO 5 years ago. Nadim has been happily working at the company for the past 7 years.  Nadim has recently been asked by Benedetto to assess the following manufacturing records from the manufacture of the new clothing line with sales of $2,550,000 Beginning Direct Materials Inventory $45,000 Direct Materials Purchased $756,000 Beginning Work in Progress Inventory $58,500 Beginning Finished Goods Inventory $175,600 Wages paid for direct labourers $456,000 Wages paid to factory supervisors $234,000 P e iden     Sala $450,000 Head office salary costs $350,000 Wages paid for Indirect Labour $23,450 Advertising and marketing expenses $356,000 Electricity used in plant $130,000 Overhead supplies used in plant $23,500 Marketing…

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Tamworth Limited is considering embarking on a new project

Tamworth Limited is considering embarking on a new project. The company has a 30% tax rate and 15% required rate of return. The project involves the introduction of a new product. The project is expected to last five years and then, because this is somewhat of a fad product, it will be terminated.   Cost of new plant and equipment : $9,900,000 Shipping and installation costs     : $100,000 Sales price per unit                      : $280/unit in years 1-4; $180/unit in year 5. Variable cost per unit                   : $140 per unit Annual fixed costs                       : $300,000 Predicted sales for the next five years: Year 1 2 3 4 5 Units sold (number) 70,000 100,000 140,000 70,000 60,000…

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Aero Ltd, Pluto Ltd and Zorba Ltd

Question 1 Impairment of assets 1. Aero Ltd has determined that its aviation division is a cash–generating unit (CGU). Information as at 30th June 2020 is as follows:   $ Buildings – At cost 600,000 Equipment – At cost 500,000 Inventory 25,000 Land 250,000 Receivables 150,000   Goodwill 90,000 Total 1,615,000   Additional information: Buildings – Accumulated depreciation as at 30 June 2020:    $100,000 Equipment – Accumulated depreciation as at 30 June 2020: $200,000 Aero Ltd calculated the value in use for the division to be $515,000 Required:  Calculate the impairment loss as at 30 June 2020: Prepare a table as provided below to allocate the above impairment loss:                        …

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ACST2001 Financial Modelling – Spreadsheet Project Task 1 – S1 2020

One of the measures the Federal Government has developed to help people financially during the corona crisis is to allow them to withdraw money from their superannuation funds. The government, and others, have pointed out that this will have an enormous impact on the retirement balances of those who take up this offer, due to the power of compound interest. Your task is to develop a model which highlights this impact. Your focus is an individual who is contemplating withdrawing money from his or her superannuation fund. Using your spreadsheet, a person should be able to enter their current age, their desired withdrawal amount and their projected earnings rate (as an effective annual rate of interest). The spreadsheet will then present…

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Shelly Cashman Excel 2016 | Modules 1–3 – SAM Capstone Project 1a

Campus Fitness Center Modify a service report and create a chart   GETTING STARTED Open the file SC_EX16_CS1-3a_FirstLastName_1.xlsx, available for download from the SAM website. Save the file as SC_EX16_CS1-3a_FirstLastName_2.xlsx by changing the “1” to a “2”. If you do not see the .xlsx file extension in the Save As dialog box, do not type it. The program will add the file extension for you automatically. With the file SC_EX16_CS1-3a_FirstLastName_2.xlsx still open, ensure that your first and last name is displayed in cell B6 of the Documentation sheet. If cell B6 does not display your name, delete the file and download a new copy from the SAM website.   PROJECT STEPS Stella Scott has a work-study position at the fitness center…

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New Perspectives Excel 2016 – Module 9 – SAM Project 1a

The Mobile Vegan FINANCIAL TOOLS AND FUNCTIONS GETTING STARTED Open the file NP_EX16_9a_FirstLastName_1.xlsx, available for download from the SAM website. Save the file as NP_EX16_9a_FirstLastName_2.xlsx by changing the “1” to a “2”. If you do not see the .xlsx file extension in the Save As dialog box, do not type it. The program will add the file extension for you automatically. With the file NP_EX16_9a_FirstLastName_2.xlsx still open, ensure that your first and last name is displayed in cell B6 of the Documentation sheet. If cell B6 does not display your name, delete the file and download a new copy from the SAM website.   PROJECT STEPS You are a part-time manager for The Mobile Vegan, a food truck catering to vegan…

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