BA Assignment - 2018 T2

Akshansh Mehta
BAAssignment-2018T2.xlsx
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Instruction

Student # ERROR:#REF! Step 1: Enter your student number
Step 2: Have a look to Customer Database sheet
92 Step 3: Read Yellow Cells Directions for Red sheets
38 Step 4: Complete and calculate the pink cells
84
37
66
27
17
49
66
17
5
12
71
5
3
27
99
3
99
49
12
12
49
84
6
71
92
99
27
6
38
27
38
92
3
84
5
5
57
3
66
5
71
38
66
57
6
5
71
57
12
5
6
17
49
5
57
99
84
17

Assignment Question

Paul services Trial Balance As At 30 June 2016
Student # 162300 Account No Account Name Debit Credit
101 Cash at Bank 299000.00
105 Accounts Receivable 99670.00
115 Supplies 3990.00
120 Prepaid Insurance 7980.00 Residual Value life
135 Office Furniture 99800.00 9800 5
137 Acc. Depreciation. - Furniture 0.00
140 Office Equipment 199600.00 9600 5
141 Acc. Depreciation - Equipment 0.00
145 Store Equipment 299400.00 9400 10
146 Acc. Depreciation - Equipment 0.00
170 Automobile 399200.00 9200 10
171 Acc. Depreciation - Automobile 0.00
201 Accounts Payable 199340.00
201 Interest Payable 299010.00
201 Unearned revenue 49900.00
201 Loan Payable 19960.00
201 Mortgage Payable 399200.00
201 Paul's Capital 81559.00
201 Paul's Drawings 399.00
201 Revenue 399000.00
201 Advertising Expense 6000.00
201 Automobile Expense 5775.00
201 Depreciation Expense - Furniture 0.00
201 Depreciation Expense - Equipment 0.00
201 Depreciation Expense - Store Equipment 0.00
201 Depreciation Expense - Automobile 0.00
201 Insurance Expense 5000.00
201 Maintenance Expense 21000.00
201 Miscellaneous Expense 1155.00
201 Rent Expense 0.00
201 Supplies Expense 0.00
201 Utilities Expense 0.00
201 Interest Expense 0.00
1447969.00 1447969.00

Step 1: Type your student number to get your allocated question (trial Balance) Step 2: Journalise the adjustment transactions (adjustments sheet) Step 3: post adjusting journal entries and complete the Worksheet Step 4: Create the Income Statements from the completed Worksheet Step 5: Journalise the closing entries Step 6: Create the changes in Equity and Balance sheet from the completed Worksheet Step 7: Answer the following questions considering proper referencing; 1)       What is a trial balance, why do we create it? 2)       What are adjustment journal entries? Why do we record the adjustment journal entries? 3)      What is the purpose of writing an adjusted Trial balance? 4)      How adjustment journal entries are different from the closing journal entries? *** The report should be in just one word format file and total number of words including numbers should be 2000 words and proper referencing. *** Penalty will be applied to late submission or high similarity rate assignments  

Adjustments

Item Description
For the following: Interest has accrued on the mortgage but not paid.
Amount: $39,920
For the following: Adjustment for the period.
Instructions: Ending Supplies remains on hand
Ending Supplies inv. $997.50
Instructions: Prepaid insurance shows a total value remaining of
$1,596.00
Depreciable Asset: 135
For the following: Depreciation adjustment for the period.SL method
Office Furniture
life= 5 Residual value =9800
Depreciable Asset: 140
For the following: Adjustment for the period .SL method
Office Equipment
life= 5 Residual value =9600
Depreciable Asset: 145
For the following: Adjustment for the period. SL method
Store Equipment
life= 10 Residual value =9400
Depreciable Asset: 170
For the following: Adjustment for the period. SL method
Automobile
life= 10 Residual value =9200
Instructions: The portion of unearned revenue which is earned at the end of June.
$24,950.00