Case Assignment AFA100 Introductory Financial Accounting, Winter 2022 D2L file submission (financial statements & memo) is due on April 10, 2022 at 11:59 pm. Instructions: 1. This assignment is to be...

1 answer below »
Case Assignment
AFA100 Introductory Financial Accounting, Winter 2022
D2L file submission (financial statements & memo) is due on April 10, 2022 at 11:59 pm.
Instructions:
1. This assignment is to be completed on an individual basis; group work is NOT permitted.
2. Prepare the financial statements (Excel) and memo (Word) required and upload them
in to D2L under “Assignments”. Include your journal entries on a separate tab in the
same Excel file as the financial statements. Therefore, you will be uploading only 2
files: 1 Excel and 1 Word.
3. To submit the financial statements and memo, go to “Assessment” in the top D2L menu
bar and then “Assignments”. Click on the “Case Assignment Submission” link to submit.
4. Your financial statements and memo will be checked for plagiarism and manually
graded and returned to you.
5. Round numbers to the nearest whole amount (e.g., round $125.43 to $125).
Round ratios/percentages to the nearest whole percent (e.g., round 12.58% to 13%).
6. The instructor will not answer any questions pertaining to the content of the case
assignment prior the deadline.
7. Do not wait until the last minute to complete and submit. Please recognize the fact
that you may have technical difficulties or other unexpected items when attempting to
submit the assignment. There is no extra time beyond the stated deadline for technical
issues experienced.
Copyright © Dongning Yu 2022 AFA100 Case Assignment Winter 2022 1Olivia’s Music Studio (OMS)
Olivia Lewis, a passionate pianist and teacher, has over 20 years of teaching experience. She
started Olivia’s Music Studio (OMS) on January 1, 2021. OMS, located in Toronto, ON, offers
piano and music theory lessons and sells instrument accessories such as metronomes,
adjustable benches, music stand lamps, and cleaning kits and tools.
After what Olivia feels was a successful first year, she is eager to see how the company has
performed. The company’s year-end is December 31.
She has asked you to create a set of financial statements, excluding the statement of cash
flows, as she feels she has a good understanding of her cash spending as compared to her
budget. Olivia will use these statements for her own use to assist with planning for the future of
the company.
Exhibit 1 includes an unadjusted trial balance at December 31, 2021.
Exhibit 2 includes information on 2021 transactions which require analysis and recording using
Accounting Standards for Private Enterprises (ASPE).
Answered 4 days AfterApr 03, 2022

Solution

Prince answered on Apr 08 2022
13 Votes
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here