Corporate Reporting (ACC2CRE) - Assignment

Added on -2020-02-18

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1Corporate Reporting (ACC2CRE)
2Part 1: Adjustment EntriesAdjustment Entries as on 30 June 2017In the books of Roxy LimitedAmount in AUD $Sr.No.DateParticularsDebitCredit130-JunDepreciation ExpensesTo Accumulated Depreciation-Buildings$2,000,000.00 (40000000@5%)$2,000,000.00 230-JunDepreciation Expenses$250,000.00 To Accumulated Depreciation-Vehicles$250,000.00 (2500000@10%)330-JunProfit and Loss account$2,250,000.00 To Depreciation Expenses$2,250,000.00 430-JunProfit and Loss account$160,000.00 To allowance for doubtful debts$160,000.00 530-Jun Salaries: Travellers$100,000.00 To Salaries: Travellers Payable $100,000.00 630-JunPrepaid general expenses $15,000.00 To General Expenses$15,000.00 730-Profit and loss account $
3Jun3,504,000.00 To Provision for Income Tax$3,504,000.00 830-JunDividends$2,500,000.00 To Dividends payable$2,500,000.00 930-JunProfit and loss Appropriation account $1,000,000.00 To General Reserve$1,000,000.00 1030-JunLand $800,000.00 To Revaluation Surplus$800,000.00 (11000000-10200000)1130-JunProfit and Loss Account$17,000.00 To Provision for expenses for legal suits$17,000.00 1230-JunProvision for Income Tax$1,974,900.00 To Income Tax Payable$1,974,900.00 Total $ 14,570,900.00 $ 14,570,900.00Part 2: Financial StatementsStatement of Comprehensive Incomeof Roxy Limitedfor the period ending on 30 June 2017

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