Part A   The following represented an extract from the Statement of Financial Position of the assets and liabilities of Sunnybank Ltd for the years ending 30 June 2010 and 30 June 2011. Reporting date was 30 June.   Assets 2011 2010 Liabilities 2011 2010 Cash 110 000 87 000 Accounts payable 28 500 31 700 Accounts receivable (net) 45 000 52 000 Accrued expenses 7 200 11 600 Inventory 58 000 43 000 Deferred tax liability ? 15 150 Interest receivable 8 400 5 000 Rent revenue in advance 12 000 - Prepaid insurance 7 000 5 000 Bank loan 50 000 50 000 Deferred tax asset ? 10 470 Provision for employee benefits 21 000 17 300 Development costs…

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Booli Electronics Booli Electronics is an electronics manufacturer located in Carlton, Victoria, Australia. The Company’s Managing Director is Monica Chen, who inherited the company from her father.  The company originally repaired radios and other household items when it was founded more than fifty years ago.  Over the years, the company has expanded, and is now a reputable manufacturer of various specialty electronics items.  Richard Das, a recent MBA graduate, has been hired by the company in the finance department. One of the major revenue producing items manufactured by Booli Electronics is a ‘smart speaker and home assistant (SSHA).’ Booli Electronics currently has one SSHA model on the market and sales have been excellent.  The SSHA is a unique item in that…

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Northwind Traders   Project Description: Northwind Traders, an international gourmet food distributor, is concerned about shipping delays over the last six months. Review the orders over the past six months and identify any order that was not shipped within 30 days. Each customer that falls within that time frame will be called to inquire about any problems the delay may have caused. In addition, you will create an order summary and an order summary by country. You have created a smaller version of the database, which you will use for testing purposes.   Instructions: For the purpose of grading the project you are required to perform the following tasks: Step Instructions Points Possible 1 Start Access. Open the downloaded Access file…

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Suppose that Marcia has decided that she wants to pay herself £650 each year for the next three years rather than deposit these amounts in her savings account. If she can invest a lump-sum amount in a savings account that pays 4.5 percent interest per year, how much money does Marcia need to deposit today to accomplish her goal? (6 marks).   Two projects being considered are mutually exclusive and have the following projected cash flows: Year Project A Project B 0 −$50,000 −$50,000 1 26,000 0 2 17,625 0 3 15,000 0 4 10,000 0 5 32,000 99,500 If the required rate of return on these projects is 11.25 percent, which would be chosen and why? Show your calculations/explanations. (6…

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QUESTION 1: Balance Day Adjustments (20 marks)     Debit ($) Credit ($) Rooftop Tea Room Trial Balance 30 June 2018         Vauxhall Delivery Van 21 100   Rooftop Cleaning Expense 18 800   Insurance Expense 12 393   Water Expense 17 814   Gas Expense 18 776   Accumulated Depreciation – Refrigeration Equipment   24 470 Repairs and Maintenance Payable   8 063 Sales Returns & Allowances 795   Electricity Expense 20 550   Shop Furniture 22 500   Discount Allowed 975   Victoria, Capital   198 357 Pastry Chef Wages Expense 36 095   Office Cleaning Expense 15 000   Refrigeration Equipment 48 000   Interest Expense 21 900   Cash at Bank 36 232  …

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Part A (40 Marks)   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 both for the 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…

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Question 2 [16 marks] 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.…

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On 1 July 2014, White Ltd paid $700,000 to acquire a machine that was to be used in the manufacture of furniture. On this date, management of White Ltd estimated that the machine had a useful life of ten years and a residual value of $100,000. In accordance with AASB 116 Property, Plant and Equipment, White Ltd uses the revaluation model as its accounting policy to measure items of property, plant and equipment and the straight-line method of depreciation.   The fair values of the machine for the first three years were as follows: 30 June 2015:   $685,000 30 June 2016:   $620,000 30 June 2017:   $520,000 On 31 December 2017, White Ltd sold the machine for $500,000 cash.   Required Based…

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Assessment Information Subject Code:                     CISM4000 Subject Name:                    Accounting Information Systems Assessment Title:               Excel Assignment Learning Outcome 5: Develop practical skills in using excel spreadsheets to collate, manage and present accounting information to users in an acceptable format. Introduction to the individual assignment: This assignment must be completed using Microsoft Excel. These introductory excel skills you learn will be used in later units and in your professional life. Employers expect students to have good worksheet skills.   QUESTION 1 The following employees work for Simple Contracts Ltd, a public company specialising in contract labour force for different projects in construction industry. The employees are paid an hourly rate, based on their Job Classification…

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