ACC514 Financial Accounting Assignment: Case Study and Journal Entries

This document presents a comprehensive solution to a Management Accounting assignment, addressing various aspects of financial accounting. It begins with case studies analyzing events like breach of contract, government property acquisition, fraudulent activities, and share price decline, detailing their accounting treatments, including journal entries and disclosures. The assignment further explores share capital transactions, including share applications, allotments, underwriting commissions, and share forfeitures, with corresponding journal entries and working capital calculations. It also includes a detailed calculation of taxable income, adjustments, and deferred taxes, along with journal entries. Additionally, the document covers asset revaluation, providing journal entries for truck revaluations and depreciation, along with a memo summarizing the analysis. Finally, it addresses impairment loss calculations for vehicles and cash-generating units, including journal entries for impairment losses and apportionment. References to relevant accounting standards and government publications are included throughout the document, providing a complete and insightful solution to the assignment.