Question for Assignment (from Text Book). P9.7 Rochelle Graves Ltd closes its books monthly. On 30 June, selected ledger account balances are: Notes Receivable $ 30 000 Interest Receivable $ 237 Notes...

1 answer below »
In one pdf their is question no three


Question for Assignment (from Text Book). P9.7 Rochelle Graves Ltd closes its books monthly. On 30 June, selected ledger account balances are: Notes Receivable $ 30 000 Interest Receivable $ 237 Notes Receivable include the following. Date Maker Face Term Interest 16 May Alexis Ltd $ 6 000 60 days 10% 25 May Domino Ltd 15 000 60 days 11% 30 June ERV Ltd 9 000 6 months 8% During July, the following transactions were completed. July 5 Made sales of $6200 on Rochelle Graves Ltd credit cards. 14 Made sales of $700 on Visa credit cards. The credit card service charge is 4%. 14 Added $440 to Rochelle Graves Ltd credit card customer balances for finance charges on unpaid balances. 15 Received payment in full from Alexis Ltd on the amount due. 25 Received notice that the Domino Ltd note has been dishonoured. (Assume that Domino Ltd is expected to pay in the future.) Required (a) Journalise the July transactions and the 31 July adjusting entry for accrued interest receivable. (Interest is calculated using 365 days.) (b) Enter the balances as at 1 July in the receivable accounts. Post the entries to all of the - receivable accounts. (c) Show the statement of financial position presentation of the receivable accounts as at 31 July. 1 Assignment for Submission Subject: BUACC 5930, Accounting Concepts and Practices Semester 1, 2019 This is a Group Assignment. This is due in week 10 or 11. All questions must be completed. Question 1. Transurban is a company that primarily builds Toll roads in Australia and overseas. The 2018 Annual report for the Company is provided at the following address https://www.transurban.com/about-us/reporting Using the 2018 annual report to compare the financial results of the Company between 2017 and 2018. You should use any financial information provided in the 2018 reports (including ratios, and narratives) to conclude on the improvements or not in financial position and profitability. You discussion should focus on reasons for this (the Group financial statements appear on Page 54 of the report). What other information would you need to make an assessment of Transurban? Word Limit 1000 words, Marks = 40 Question 2. The 2018 FY18 UN Sustainable Development Goals progress report is provided at the following address https://www.transurban.com/content/dam/transurban-pdfs/01/sustainability- reports/FY18-Sustainability-Report-SDG.pdf Use this information to explain how Transurban is meeting the UN Sustainable Development Goals (SDGs). What is your opinion of these initiatives? Word Limit 750 words, Marks = 30 https://www.transurban.com/about-us/reporting 2 Question 3: Problem 9.6 Rochelle Graves Ltd, page 392 Weygant et al., (2013) Question 4. Comparative Financial data at 30 June for Harry’s Hardware is as follows. 2017 2018 Cash at Bank 16,400 19,000 Inventories 40,000 52,000 Receivables (net) 16,400 15,000 Prepaid Insurance 600 700 Long term investments 14,000 20,000 Motor vehicles 84,000 90,000 Accumulated depreciation – motor vehicles (26,000) (36,000) Total Assets 145,400 160,700 Accrued sundry expenses Accounts Payable 350 20,000 275 14,000 Long term loan 35,000 25,000 Capital 90,050 121,425 Total Equities 145,400 160,700 3 Harrys Hardware Income Statement for year ended 30 June 2018 Income: $ $ Sales 450,000 Gross proceeds from sale of motor vehicle 3,000 453,000 Expenses: Cost of sales 320,000 General expenses including depreciation 68,000 Carrying amount of motor vehicle sold 2,000 390,000 Profit 63,000 Additional Information The vehicle which was sold had originally cost $10,000. Required: Prepare a Cash Flow Statement for Harrys Harware for the year ended 30 June, 2018 from the above information given (note that you should use the Direct Approach). (15 marks) 4 BUACC5930, Group Assignment Marking Scheme Names: Student Numbers: Bases of assessment Marks Possible Question 1 Comparing the financial results of the Transurban group from 2017 to 2018. Use of key results (and their explanation) including ratios and narrations (15 marks). Discussion on the improvements or not in financial position and profitability, and reasons (15 marks). What other information would you need to make an assessment of Transurban? (10 marks) / 40 Question 2. Examination of how Transurban is meeting the UN Sustainable Development Goals (SDGs) (10 marks) How do you rate the sustainability of Transurban? (20 marks). / 30 Question 3 Presentation and Accuracy of all parts / 10 Question 4 Presentation and Accuracy of all parts / 15 Overall Presentation – including cover page, line spacing, page numbering, referencing. / 5 Total / 100
Answered Same DayMay 19, 2021BUACC5930

Answer To: Question for Assignment (from Text Book). P9.7 Rochelle Graves Ltd closes its books monthly. On 30...

Khushboo answered on May 22 2021
140 Votes
Journal entries
        Date    Particulars    Debit    Credit
        July, 5    Accounts receivable    6200
            Sales        6200

            (To record Sale on credit card)
        July,14    Accounts receivable    700
            Sales        700
            (To record sale on credit card)
        July,14    Service charge expense    28
            Accounts receivable        28
            (To record service charges on above sales)
        July, 14    Accounts receivable    440
            Interest revenue        440
            (To record finance charges on unpaid balances)
        July, 15    Cash     6,099
            Interest receivable         74
            Interest revenue        6,025
            Notes receivable        6,000
            (To record Interest received and maturity of notes from Aleix Ltd)
        July, 25    Accounts...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here