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ACCT 1008 Accounting for Business- Assignment

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Accounting for Business (ACCT 1008)

   

Added on  2020-03-23

ACCT 1008 Accounting for Business- Assignment

   

Accounting for Business (ACCT 1008)

   Added on 2020-03-23

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ACCT 1008Accounting for Business, SP 5 2017Assignment Part B76 marks - Weighting 15%Due 8 pm Adelaide time (ACST) on Monday 23rdOctober, 2017Please aim to complete the assignment a few days before the due date to allow for any unforeseen circumstancessuch as illness, family issues, work commitments etc. You may submit the assignment early if you have othercommitments around the due date.The due date and time is stated in the course outline, on the course website and above. Please note it is yourresponsibility to ensure you factor in any time difference between Adelaide (South Australia) and your locationwhen submitting your assignment.Please note that following important instructions relating to the assignment format and submission:1.You mustcomplete your assignment using the assignment Word document provided.2.Do not convert this document into any other format (.docx or .doc are the only permissible file formats than can be uploaded).3.You can only submit this one file.4.Do not ‘embed’ other files (Excel for example) as pictureswithin the assignment Word document.5.You cannot scan hand written responses and submit.All assignments must be typed.6.Remember to fill out the assignment coversheet which is the second page of assignment Word document.7.All assignments must be lodged via the course Learnonline page (see link above).8.Assignments submitted via email (or any other method) will NOT be accepted.9.Make sure that you upload the correct file. If you discover (after the due date) that you have uploaded a draft version or the wrong file completely, you will not be allowed to submit a second file.IMPORTANT - Failure to follow these instructions may result in yourassignment not being marked, and you will receive a zero grade.Please note that this is an individual piece of assessment. Pay particular attention to the student declaration whichforms a part of the cover sheet. You must type your name and the date in the appropriate field in this declaration.Best of luck with your assignment.
ACCT 1008 Accounting for Business- Assignment_1
UNIVERSITY OF SOUTH AUSTRALIAAssignment Cover Sheet – InternalPlease note: All text based assessment tasks should be submitted electronically using learnonline Gradebook. A cover sheet is automatically created and includes your name and student ID therefore you should not upload or embed the document in your assignment. If submitting your assignment in hard copy you should complete and attached this Assignment Cover Sheet. Please check your Course Outline or contact your School Office for assignment submission locations. Name:Mail IDEmail: @mymail.unisa.edu.auCourse code and title:School:Program Code:Course Coordinator:Tutor:Day, Time, Location of Tutorial/Practical:Assignment number:Due date:Assignment topic as stated in Course Outline:Further Information: (e.g. state if extension was granted and attach evidence of approval, Revised Submission Date)I declare that the work contained in this assignment is my own, except where acknowledgement of sources is made.I authorise the University to test any work submitted by me, using text comparison software, for instances of plagiarism. I understand this will involve the University or its contractor copying my work and storing it on a database to be used in future to test work submitted by others.I understand that I can obtain further information on this matter athttps://lo.unisa.edu.au/course/view.php?id=3839Note: The attachment of this statement on any electronically submitted assignments will be deemed to have the same authority as a signed statement.Signed:Date:Date received from studentAssessment/gradeAssessed by:Recorded:Dispatched (if applicable):
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Developing knowledge and skills in the assignmentThe Assignment is a further opportunity to apply the knowledge and skills that you are developing inthe course. The Assignment also develops learning outcomes which are highly valued by theemployers of accounting graduates: Knowledge, Judgement, Application skills, and Communicationskills. Learning outcomes are the knowledge and skills that graduates are expected to know,understand and be able to do as a result of their learning. Go to the Commerce home page to findout more about these important learning outcomes and as you work on the Assignment rememberthat they are sought after by business and accounting employers. Communication skillsEmployers want graduates who are good communicators. Communication skills consistently rank inthe most important selection criteria that employers use to recruit graduates (Source: GraduateCareers Australia). The following three aspects of your written communication skills developmentwill be assessed in the assignment to a maximum of 6 marks:Paraphrasing,Being relevant and the art of selection, andAn introduction to writing for a professional business audience.Please refer to the resource Developing written communication skills in Accounting for Business onthe course learnonline page. It has information about the three aspects of your writtencommunication skills development and links to resources that will assist you develop your skills. Asyou use the resources in your assignment, remember that your studies is the perfect time to startworking on these skills and appreciating their importance in your career.
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QUESTION1: Balance Day Adjustments (25 marks)Debit ($)Credit ($)The Chilli Blast RestaurantTrial Balance 30 June 2017Water Expense34 581Delivery Van39 000Cash at Bank59 349Gas Expense35 863Sales Returns & Allowances11 889Interest Expense40 029Electricity Expense38 229Marcelo, Capital 275 284Accounts Receivable17 480Inventory (1 July 2016)69 779Prepaid Rent52 800Chef’s Wages Expense52 288Insurance Expense10 829Purchases263 829Advertising Expense35 529Office Cleaning Expense30 829Office Supplies 13 179Marcelo, Drawings 68 894Cooking Oil Disposal Expense23 512Repairs and Maintenance Payable21 579Accumulated Depreciation – Refrigeration Equipment43 454Refrigeration Equipment74 829Discount Allowed12 129Prepaid Insurance 3 840Shop Cleaning Expense69 229Shop Furniture40 829Discount Received13 409Loan366 714Shop Staff Wages Expense59 919Accounts Payable23 332Sales424 521Deep Fryer29 200Unearned Sales19 570Totals1 187 8631 187 863(Continued on the next page)
ACCT 1008 Accounting for Business- Assignment_4

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