Solved Assignments

ACCG200 Excel Assessment – BikePro Ltd want you to perform a Cost Volume Profit Analysis

BikePro Ltd want you to perform a Cost Volume Profit Analysis for their High-End Racing Bike product, the X-800.  You will need to calculate the labour costs, material costs, fixed costs and variable costs and then work out the break-even volume.  You have also been asked to show a forecast for different sales volumes and produce a break-even analysis line chart.   Start by downloading the assessment workbook from iLearn and copying/moving it to an appropriate folder. When you open the workbook it is very important that you Enable Macros/Content. You will then be asked to enter your Student Number (you will not be able to edit it afterwards, so type it in carefully) and then enter your Student Name.  …

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FINANCIAL ACCOUNTING – ACCT1101 – Charles Boutique Books Pty Ltd Accounting Practice Set online

Company Background Charles Boutique Books Pty Ltd has been in business in Melbourne since July, 2014. The company was started by James Lowe and operates a shop which sells books on a wholesale basis to other businesses on both credit and cash terms. The company’s share capital consists of 162,000 ordinary shares, issued at $1 each, that are owned by various members of the Lowe family. The company employs a combination of sales and administration staff to operate the business.   Accounting System Information & Procedures The company has a financial year end of 30 June and prepares adjusting entries at the end of the financial year. To ensure efficiency of its accounting procedures, the company uses the following Special Journals to maintain…

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Unit: ACC102 – Fundamentals of Accounting II – Nicolaidis, Tamworth Trading, Masterton

Case Study One:   On 1 January 2017, Nicolaidis Ltd purchased two identical new machines at a total cost of $700 000 plus GST. It was estimated that the machines would have a useful life of 10 years and a residual value of $50 000 each. Nicolaidis Ltd uses the straight-line method of depreciation for all of its equipment. The company’s end of reporting period is 31 December.   Required Record the purchase of the trucks on 1 January 2017. Record the depreciation expense on the trucks for 2022. Assume that early in 2023 the company revalued the machines upwards by $80 000 each and assessed that the machines would last 6 more years instead of 4 but that the residual value would…

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Spreadsheet Project Task 2 – Ruby purchased

Spreadsheet Project Task 2 Ruby purchased a 10-year 4.2% p.a. Treasury bond with a face value of $100 at a price of 98.545 10 years ago. The bond was redeemable at par. Immediately following the receipt of each coupon, Ruby deposited the coupon into a bank account earning a particular reinvestment rate. Over the 10 years the reinvestment rates Ruby earns are shown in table 1. At the time of purchase, Ruby used her financial modelling skills to model and predict the market rates of return rates for the next 10 years which are shown in table 2 below. Assume her 10-year forecast (in table 2) is actually correct. Hence, these rates represent the appropriate rates to discount Ruby’s future cash…

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Saturn Petcare Australia and New Zealand is Australia’s largest manufacturer of pet care products

Saturn Petcare Australia and New Zealand is Australia’s largest manufacturer of pet care products. Saturn have been part of the Australian and New Zealand pet care landscape since opening their first manufacturing facility in Albury Wodonga in 1966. Since then they have expanded their manufacturing footprint to include other sites in regional Australia and New Zealand including a world-leading manufacturing site opened in Bathurst, NSW in 2015. Saturn Petcare Australia New Zealand manufactures for the Australian and New Zealand domestic markets as well as exporting products to more than 26 countries. Saturn Petcare is part of the larger overall Saturn Group which is globally one of the largest privately held manufacturing companies and operates in a range of different fast moving…

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Budget – Bombera Ltd operates at capacity and makes glass-topped dining tables

Q. 1 Max Brenner, a college student, plans to sell CD players over the internet & by mail order during the semester to help pay his expenses. He buys the players for $31 & sells them for $52. If payment by cheque accompanies the mail order (estimated to be 40% of sales), he gives 10% discount. If customers include a credit card number for either internet or mail order (estimated 30% of sales), they receive 5% discount. The remaining collections are estimated as follows: One month following 15% Two months following 6% Three months following 4% Uncollectable 5%   Sales forecast are as follows: September 140 units October 240 units November 330 units December 420 units January Business terminated   Max…

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ACC106 ATMC Task 2 Assignment – Nellys Saddlery is a proprietorship of Ms Nelly Gee

Nelly’s Saddlery – Business Background   1.1 Introduction Nelly’s Saddlery is a proprietorship of Ms Nelly Gee who established this new business on 1st June 2018. Nelly’s Saddlery is a GST-registered horse tack and supplies business that is beginning with just a small range of saddles and horse rugs. The business also provides some basic saddlery repairs and maintenance services. The business sources its products from a number of suppliers.   The business currently sells two types of saddles: All Purpose Saddles, Suede Seat Saddles, and one type of rug: Top Tack DELUXE Rug   Nelly Gee, sole proprietor, has established a reputable and growing business with and has employed two staff members. Being an astute businessperson, Nelly is using Microsoft…

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ACC00146 MANAGEMENT ACCOUNTING – Sunny Days manufactures swimwear and beach accessories for men and women

Sunny Days manufactures swimwear and beach accessories for men and women.  They operate out of rented premises in Currumbin Creek Road where the factory is split into a manufacturing and storage area and a retail space. The business produces 4 products: One-piece swimsuits for women Board shorts for men Beach Towels Beach Umbrellas   You, as the management accountant for the firm, have been asked to prepare a range of budgets for the 2019 year.  The following information has been gathered: Sales One-piece swimsuits Board short Towel Beach Umbrellas January 2019 1,800 1,600 400 200 February 2019 1,400 1,100 300 180 March 2019 1,300 1,160 260 160 April 2019 1,000 1,000 140 120 May 2019 400 600 80 60 June 2019 400…

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BUACC 5930, Accounting Concepts and Practices – Dural Trade Ltd

The final accounts of Dural Trade Ltd are provided below:   Dural Trade Ltd   Balance Sheet (Statement of financial position) as at:   2017 $ 2018 $ Assets Bank 71,760 92,400 Accounts receivable 115,200 131,760 Inventory 130,320 152,520 Investments 108,000 – Land – 122,400 Equipment 396,000 501,200 Accumulated depreciation – equipment (171,360) (204,560) TOTAL ASSETS 649,920 795,720 Liabilities and Shareholders’ Equity Accounts payable 73,200 82,680 Operating expenses accrued 6,000 7,320 Dividend payable 14,400 17,280 Share capital (Ordinary shares @ $2 each) 360,000 432,000 Share premium 17,280 31,680 Retained earnings 179,040 224,760 TOTAL LIABILITIES AND EQUITY 649,920 795,720   Dural Trade Ltd Income statement for the year ended 31st December 2018 $ $ Sales 1,432,800 Less: Cost of sales 850,680 Gross…

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BUSN9117 Management and Cost Accounting – Hilda Ltd manufactures and sells two products: ThingOne and ThingTwo

QUESTION Hilda Ltd manufactures and sells two products: ThingOne and ThingTwo. With the recent downturn in the market, Hilda experienced a decline in financial performance. The management team is in the process of preparing the 2018 budget and put together the following budgeted information.   Annual sales are expected to be 5,000 units. Budgeted sales for the month of October and November 2018 are provided below (Table 1). All sales are on credit. Hilda Ltd expects to collect 40 percent of accounts receivable in the month of sale, 59% are collected the following month and 1% are never collected and are written off as bad debts. Hilda Ltd recorded sale revenue of $74,100 for ThingOne and $105,000 for ThingTwo during the…

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ACT501 Accounting Principles – Kargil P/L began operations

Q. 1   Kargil P/L began operations and completed the following transactions during July 2018 as follows:   July 1 Sold ordinary shares for cash for $25,000 2 Set up a petty cash for $200, to be managed by the receptionist. 2 Paid quarterly office rent, $3,300 3 Paid cash for office computers, $4,400. This equipment is expected to remain in service for 5 years. 3 Employed a full-time draftsman at the rate of $800 per fortnight. 3 Purchased milk, coffee, sugar, tissues etc for office amenities for $49.25. This total amount included GST of $13.74. 4 Purchased office furniture on credit for $3,960. The furniture should last for 7 years. 4 Purchased supplies on credit, $990, terms 2/20 net 30…

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ACC202 – Ronald Lim incorporated a private limited company, Kool Komfort Pte Ltd

  On 1 July 2018, Ronald Lim incorporated a private limited company, Kool Komfort Pte Ltd to provide, air-conditioner repairs and maintenance services.   The following are the transactions that occur during the first month of operations.   Jul 1    Lim received shares for investing $100,000 cash, a $80,000 van and a $8,000 service equipment.   Jul 3 The company hired Linda as a part-time office assistant for $150 per day, as needed and a service technician for $4,000 per month.   Jul 4 The company rented a furnished office and paid $4,500 cash for July’s rental and another $4,500 for the rental deposit which is refundable.   Jul 6    The company purchased $10,000 of supplies on credit from…

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