Processing Financial Transactions and Reports

This assignment focuses on the practical application of financial transaction processing and reporting. Students are tasked with recording various financial activities like sales, expenses, and payments. They then need to prepare a trial balance for the accounts involved, demonstrating their understanding of basic accounting principles. The assignment also includes tasks related to generating interim reports and analyzing balances.

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
Assessment Details
Qualification Code/Title
Assessment Type Assessment -02 ( Project) Time allowed
Due Date Location AHIC Term / Year
Student Details
Student Name Sampanna adhikari Student ID Ahi000009w
Student Declaration: I declare that the work submitted is my own,
and has not been copied or plagiarised from any person or source.
Signature: ____________________________
Date: _____/______/__________
Assessor Details
Assessor’s Name
RESULTS (Please
Circle) SATISFACTORY NOT SATISFACTORY
Feedback to student:
.........................................................................................................................................................................................
.........................................................................................................................................................................................
.........................................................................................................................................................................................
.........................................................................................................................................................................................
........................
Student Declaration: I declare that I have been
assessed in this unit, and I have been advised of my
result. I am also aware of my appeal rights.
Signature: _______________________________
Date: ______/_______/___________
Assessor Declaration: I declare that I have conducted a fair, valid,
reliable and flexible assessment with this student, and I have
provided appropriate feedback.
Signature: ________________________________________
Date: ______/_______/___________
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 1 of 13
Unit of Competency
National Code/Title FNSACC301 Process financial transactions and extract interim reports

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
Instructions to the Candidates
Instructions to the Candidates
 This assessment is to be completed according to the instructions given below in this document.
 Should you not answer the tasks correctly, you will be given feedback on the results and gaps in knowledge.
You will be entitled to one (1) resubmit in showing your competence with this unit.
 If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
 Please refer to the College re-submission and re-sit policy for more information.
 If you have questions and other concerns that may affect your performance in the Assessment, please
inform the assessor immediately.
 To be deemed competent for this unit you must achieve a satisfactory result with tasks of this assessment
along with a satisfactory result for the other assessment (Project)
 There are two sections in this assessment.
 This is an Open book assessment which you will do in your own time but complete in the time designated by
your assessor. Remember, that it must be your own work and if you use other sources then you must
reference these appropriately.
 This is Individual Assessments. Once you have completed the assessment, please provide the Hard copy of
the Assessments to your Trainer/ Assessor.
 Plagiarism is copying someone else’s work and submitting it as your own. Any Plagiarism will result in a mark
of Zero.
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 2 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
Project 1
Complete the deposit slip using the information given.
 The business name is Master Productions Ltd.
 The account number is 456801678-1.
 The deposit is being made by Sally Brown.
 The date is 1 June 2016.
 Cash deposited is made up of 11 x $50, 19 x $20, 36 x $10, 24 x $5, Coin $30.
 Cheques include:
o $220 from Mr Barker’s Commonwealth Bank account at Bow Hill.
o $600 from K West’s National Bank account at Crawford.
o
Front Side of Deposit
Bank of Australia, King William Street Date:01/06/2016
Account Name: Master productions
limited
Account Number: 456801678-1
Office use only
$100 x
$ 50 x11
$ 20 x19
$ 10 x36
$ 5 x24
Coin $30
Total
Signature: sally
brown
Cash Total: $1440
Cheque Total: $820
Paid in by (name):
sally brown Number of items: 3
Total Deposit: $1440
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 3 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
Rear of Deposit
Bank of Australia, King William Street
Drawer Bank Branch Amount
Mr. barker Commonwealth bank Bow hill $220
K west’s National bank crawford $600
Total Cheques: $820
Project 2
1. Enter the account for each transaction. Some are already entered.
Date Transaction Amount Account
1 4/3/2016 Filled car with
fuel—paid cash 32.80 Motor vehicle
expenses
2 5/3/2016 Cash sale 156.99 Sales
3 6/3/2016 Invoice sale (R
Smith) 1,999.00 Debtor’s
Account(R Smith)
4 6/3/2016 Cash sale 1,899.00 Sales
5 6/3/2016 Copy paper— 11.50 Stationery
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 4 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
paid cash
6 11/3/2016 Filled car with
fuel—paid cash 28.50 Motor vehicle
expenses
7 11/3/2016 Cash sale 1,275.00 Sales
8 13/3/2016 Copy paper—
paid cash 11.50 Stationery
9 13/3/2016 Invoice sale (W
Jones) 3,450.00 Debtor’s Account
(W Jones)
10 17/3/2016 Filled car with
fuel—paid cash 31.75 Motor vehicle
expenses
11 19/3/2016 Cash sale 64.99 Sales
12 20/3/2016 Rent—paid cash 350.00 Rent
13 25/3/2016 Filled car with
fuel—paid cash 18.25 Motor vehicle
expenses
14 26/3/2016 Cash sale 1,999.00 Sales
15 28/3/2016 Interest received 1.89 Interest
16 28/3/2016
Payment
received for
invoice sale
3,450.00 Cash
2. Enter the transactions using T accounts and complete the T account totals.
Cash
Debit Credit
Date Ref Amount Date Ref Amount
5/3/2016 Cash sales 156.99 4/3/2016 Motor Vehicle
Expenses 32.8
6/3/2016 Cash sales 1899 11/3/2016 Motor Vehicle
Expenses 28.5
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 5 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
13/3/2016 Cash sales 1275 17/3/2016
25/3/2016
Motor Vehicle
Expenses 31.75
19/3/2016
26/3/2016
Cash sales
Cash sales
64.99
1999 6/3/2016 Motor Vehicle
Expenses 18.25
28/3/2016
Accounts
Receivable
Account
3450 6/3/2016
Stationery
Expenses 11.5
13/3/2016
Stationery
Expenses 11.5
20/3/2016 Rent
Expenses
350
Total 484.3
Total 8844.98
Balance c/d 8360.68
Motor Vehicle Expenses
Debit Credit
Date Ref Amount Date Ref Amount
4/3/2016 Cash paid
for fuel 32.8
11/3/2016 Cash paid 28.5
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 6 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
for fuel
17/3/2016 Cash paid
for fuel 31.75
25/3/2016 Cash paid
for fuel 18.25
Total 111.3 Balance c/d 111.3
Sales
Debit Credit
Date Ref Amount Date Ref Amount
5/3/2016 Cash sales
156.99
6/3/2016 Cash sales
1899
13/3/2016 Cash sales
1275
19/3/2016 Cash sales
64.99
26/3/2016 Cash sales
1999
6/3/2016
Accounts
Receivable
(invoice sales) 1999
13/3/2016
Accounts
Receivable
(invoice sales) 3450
total 10843.98
Balance c/d 10843.98
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 7 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
Accounts Receivable
Debit Credit
Date Ref Amount Date Ref Amount
6/3/2016 Invoice Sales 1999
13/3/2016 Invoice Sales 3450 cash received
for invoice
sales 3450
total 5449
Balance c/d 1999
Stationery Expenses
Debit Credit
Date Ref Amount Date Ref Amount
6/3/2016 Copy paper
purchased by
cash
11.5
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 8 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
13/3/2016
Copy paper
purchased by
cash
11.5
total 23 Balance c/d 23
Rent Expenses
Debit Credit
Date Ref Amount Date Ref Amount
20/3/2016 Cash paid
for rent 350
Balance c/d 350
Interest Received Revenue
Debit Credit
Date Ref Amount Date Ref Amount
28/3/2016 interest income
received 1.89 Balance c/d 1.89
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 9 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
3. Prepare the general ledger entries using the worksheet.
General ledger
Date Docket Details Post Ref Debit Credit
4/3/2016 GJ-1-1 Motor vehicle expenses paid by
cash
Motor vehicle car expenses debit
Cash account credit 32.80
32.80
5/3/2016 GJ-1-2 Cash Sales Cash account debit
Sales account credit 156.99
156.99
6/3/2016 GJ-1-3 Invoice Sale R.Smith account debit 1999
Sales account credit 1999
6/3/2016 GJ-1-4 Cash Sale Cash account debit
Sales account credit 1899
1899
6/3/2016 GJ-1-5 Stationery Expenses
Stationery Expenses account
debit
Cash account credit
11.50
11.50
11/3/2016 GJ-1-6 Motor Vehicle Expenses
Motor Vehicle Expenses account
debit
Cash account credit
28.50
28.50
11/3/2016 GJ-1-7 Cash Sale Cash account debit
Sales account credit 1275
1275
13/3/2016 GJ-1-8 Stationery Expenses Stationery Expenses account 11.50
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 10 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
debit
Cash account credit
11.50
13/3/2016 GJ-1-9 Invoice Sale W Jones account debit 3450
Sales account credit 3450
17/3/2016 GJ-1-10 Stationery Expenses
Stationery Expenses account
debit
Cash account credit
31.75
31.75
19/3/2016 GJ-1-11 Cash Sale Cash account debit
Sales account credit 64.99
64.99
Cash sale
20/3/2016 GJ-1-12 Rent expenses Rent expenses account debit
Cash account credit 350
350
25/3/2016 GJ-1-13 Stationery Expenses
Stationery Expenses account
debit
Cash account credit
18.25
18.25
26/3/2016 GJ-1-14 Cash sales Cash account debit
Sales account credit 1999
1999
28/3/2016 GJ-1-15 Interest revenue received Interest revenue account debit
Interest income credit 1.89
1.89
28/3/2016 GJ-1-16 Payment received from debtor Cash account debit
Accounts receivable credit 3450
3450
Debtors ledger
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 11 of 13

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J
ABN: 74 603 036 102
T: 02 9268 0085
E: [e-mail]
W: www.ahic.edu.au
A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
R Smith
Date Docket Details Post Ref Debit Credit Balance
1/3/2016 Opening Balance
6/3/2016 Invoice Sale
Accounts receivable
account debit
Sales account credit
1999
1999
31/3/2016 Closing Balance 1999
W Jones
Date Docket Details Post Ref Debit Credit Balance
1/3/2016 Opening Balance 0.00
13/3/2016 Invoice Sale
Accounts receivable account debit
Sales account credit
3450
28/3/2016 Payment
Cash account debit
3450
Accounts receivable credit 3450
31/3/2016 Closing Balance 3450 3450
Trade Debtor’s Schedule
Opening Balance 0.00
R Smith 1999
W Jones (the cash payment has been done) 0
Closing Balance 1999
4. Prepare a trial balance for the accounts.
Trial Balance
Account DR$ CR$
Cash 8360.68
Motor Vehicle Expenses 111.3
Sales 10843.98
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
File Name : FNSACC301 Process financial
transactions and extract interim reports
Version 7.0/ August
2016
Review Date:
February 2017
Page 12 of 13