Solved Assignments

Accounting Corporate and Reporting – Zack Ltd acquired all the issued shares (ex div.) of William Ltd for $227 500

Trimester 1, 2017 Assignment ACC705 Accounting Corporate and Reporting  Question 1    Consolidation worksheet entries   On 1 July 2015, Zack Ltd acquired all the issued shares (ex div.) of William Ltd for $227 500. At this date the equity of William Ltd consisted of:                           Share capital              $ 150 000                        General reserve          34 000                         Retained earnings       20 000      At acquisition date, William Ltd reported a dividend payable of $8000. All the identifiable assets and liabilities of William Ltd were recorded at amounts equal to their fair values except for:                                                               Carrying amount        Fair value Plant (cost $200 000)                         $175 000         …

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Financial Management

Please provide answers to the following problems using Excel. For your Excel answer, please follow the Excel format and functions presented in Chapter 5 of the textbook.   Suppose today is July 1, 2010, and you deposit KD 3,000 into an account today. Then you deposit KD 1,500 into the same account each July 1, beginning in 2011 and continuing until the last KD 1,500 deposit is made on July 1, 2016. Also, assume you withdraw KD 5,000 on July 1, 2018. Assuming a 7% annual compound interest rate, what will be the balance in the account at the end of July 1, 2020? (hint: find the present value for CFs then the future value for lump sum)   Sara is…

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Ratio calculation and financial statement analysis

Given the profit loss (income statement) and balance sheet for Sam’s Sandwich Delivery (Table 4-8), answer the following:

1. Calculate the following ratios: current, quick, accounts receivable turnover, fixed asset turnover.
2. Using the inventory figure on the balance sheet as average inventory, calculate the inventory turnover ratio.
3. Calculate the debt-to-equity ratio, debt-to-total asset ratio, and operating profit margin ratio.
4. Perform a vertical analysis of the income statement.
5. Perform a vertical analysis of the balance sheet.

Paradise Ltd is involved in the computer services industry. Rental vehicles are used for delivery and service of computers.

Company Accounting (ACC20013) Assignment 1: Annual Reports Paradise Ltd is involved in the computer services industry. Rental vehicles are used for delivery and service of computers. The company’s head office, which houses its administrative staff, is located on a prime piece of real estate in the local township. The following unadjusted trial balance is for the year ended 30 June 2017: Paradise LTD Unadjusted Trial Balance as at 30 June 2017 Debit Credit Bank overdraft            178,050 Vehicle rental expenses              72,000 Cash at bank                 7,500 Investment in government bonds            150,000 Goodwill              24,000 Interest revenue                 4,800 Insurance expense                 3,000 Land            230,000 Buildings         1,000,000 Office furniture and equipment            127,000 Retained earnings (1/7/16)              83,000 Revaluation surplus             …

Quality Watches Company (QWC) manufactures different brands of a hand watch in Bangkok, Thailand

BBAC501 Assignment: (Groups of 2 students) (Total Marks 15) Due Date: Session 5.2 Quality Watches Company (QWC) manufactures different brands of a hand watch in Bangkok, Thailand. The company’s accountant, Tony Blake, has just received the sales forecast for the coming year for QWC’s three watch products: QW-Orient, QW-Fossil, and QW-Citizen. QWC has experienced considerable discrepancy in sales volumes and variable costs over the past two years, and Bernard believes that the forecast should be cautiously assessed from a cost-volume-profit perspective. The initial budget data for the year 2017 is as follows. QW-Orient QW-Fossil QW-Citizen Total Sales units 5,000 5,000 10,000 20,000 Total Sales Revenue $400,000 $500,000 $2,000,000 $2,900,000 Total variable manufacturing costs $150,000 $200,000 $600,000 $950,000 Total variable selling & Admin. costs $60,000 $80,000 $200,000 $340,000…

Cash Flow Statement and Share Capital

Question 1: Cash Flow statement (42 marks) Easy Fit LTD Statements of Financial Position as at 30 June 2016 2017 Cash at bank 20,000 257,495 Accounts Receivable 75,000 115,596 Inventory 72,000 147,803 Furniture and fittings 100,000 61,385 Acc. depn – furniture and fittings -30,000 70,000 -20,000 41,385 Buildings 330,000 430,000 Acc. depn – buildings -80,000 250,000 -110,000 320,000 Total assets 487,000 882,279 Accounts Payable 40,000 110,111 Current tax liability 7,500 17,000 Loan due 2017 — 255,008 Share capital 400,000 420,000 Retained earnings 39,500 80,160 Total liabilities and equity 487,000 882,279   Easy Fit LTD Statement of Profit or Loss for the year ended 30 June 2017 Income Sales revenue $480,000 Rent revenue 14,000 Discount received 1,630 $495,630 Expenses Cost of sales…

The Citrus Company  produces quality fruit.  It has been producing and selling 40,000 boxes per month

ACC202 MANAGEMENT ACCOUNTING The Citrus Company  produces quality fruit.  It has been producing and selling 40,000 boxes per month during the Spring and Summer months. During  the Autumn and Winter months it has been noticed that only 30,000 boxes are sold.The Citrus Company  provides the following information and has asked you to provide advice on the issues raised in each of the following parts: Manufacturing costs Direct material                                                         $4.00 per box Direct labour                                                               2.00 per box Variable overhead                                                      0.80 per box Fixed overhead                                                         $10,000 Marketing costs Variable                                                                       $0.50 per unit Fixed                                                                            $15,000 The Citrus Company  has been selling these boxes of fruit  for $9.50 each and has asked you to provide answers to the following.Each part is to be considered  independently…

The Westside Hospital radiology department is preparing a budget for the following year

Case 3 – Westside Hospital The Westside Hospital radiology department is preparing a budget for the following year.  A major budget category is hand, foot, and forearm imaging.  Current year admissions for these imaging categories totaled 2,000, which breaks down as follows: Procedure Time Required Volume Proportion Rate Hand imaging 10 minutes 60% $100 Foot imaging 20 minutes 30% $300 Forearm imaging 30 minutes 10% $400 The radiology department head thinks there will be a 10% increase in volume for next year.  This additional volume is expected to have the same procedure mix as the current year.  Rates are not expected to change. The controller projects the payer analysis to be 50% Medicare (reimbursement % of charges), 20% Medicaid (reimbursement %…

Finance Quiz

Question 1 Which of the following assets belongs to the operating assets? Accounts receivables Marketable securities Accounts payables Both A and C     Question 2 According to the nonconstant dividend growth model discussed in the textbook, the expected dividend growth rate during the initial growth period is different from the expected dividend growth rate during the subsequent constant growth period. True. False. Question 3 An increase in a firm’s expected growth rate would normally cause its required rate of return to Increase. Decrease. Stay constant. Possibly increase, possibly decrease, or possibly have no effect. Question 4 Which of the following is NOT a capital component when calculating the weighted average cost of capital (WACC)? Newly-issued common equity Preferred stock Long-term…

Group Accounting – Consolidation

Part B – Group Accounting – Consolidation (100 Marks in total, 60% of assignment) On 1 July 2016, ASD Ltd purchased 80% of EPY Ltd’s shares for $1,300,000 cash. On that day, the equity of EPY Ltd was: Share capital $700,000 Retained earnings 500,000 $1,200,000 At the time of acquisition, EPY Ltd recorded all its assets at their fair values except for an item of plant and some land. ASD Ltd considered that an item of plant shown in the accounts of EPY Ltd was less than the fair value. The fair value should be 80,000 not 62,000 as shown in EPY Ltd’s accounts. The plant was assessed to have a remaining useful life of 5 years and was to be…

Contract Accounting, Debentures entries and Revaluation of Assets

You are required to finish each of these questions, each worth 10 marks, total 40 marks. Please give the solutions in detail, show calculations and submit the solutions to Moodle using a single file, it can be Excel format, Word format or PDF format, no requirement on word limits, if use any references, please refer to APA style. Question 1 (20 marks), Question 2 (10 Marks), Question 3 (10 Marks). Anderson Pty Ltd is an Australian diversified industrial company with its major business activity being to manufacture flotation devices for babies and toddlers. Over the past decade, the business has been very profitable and the directors, Simon Anderson and Lisa Anderson, have kept payment of dividends to a minimum to allow…

Manual Accounting

ACC110 201660 Additional Assessment   Value: 100%  Due date: 14 January 2017 Submission method options: via Turnitin (you will be added to ACC110 AA special class) BACKGROUND TO THE ASSIGNMENT Company information You have just been appointed as Accountant for Sandgate Electronics, a small electronics store that operates in inner city Brisbane, owned by Benny Wang, and you start work on 1 February 2016. Sandgate Electronics was set up as a company based in Brisbane and derives its main source of revenue from retail sales of electronic goods. Benny Wang (the sole shareholder) is heavily involved in the running of the business. He has also appointed a sales consultant (Jenny Zhang) and an accountant (you) to work at the store on a…