NOTE THAT SOME PROBLEMS REQUIRE A SPREADSHEET SOLUTION. Marking guide Q2-1 to 2-5 10% Q2-1 In a spreadsheet why replace cell references with names? Paste an example of a formula using names rather than cell references. Q2-2 How can negative numbers be di

NOTE THAT SOME PROBLEMS REQUIRE A SPREADSHEET SOLUTION.

Marking guide Q2-1 to 2-5 10% Q2-1 In a spreadsheet why replace cell references with names? Paste an example of a formula using names rather than cell references.

Q2-2 How can negative numbers be displayed in brackets; in red? Paste a simple spreadsheet example.

Q2-3 Why should an accountant design spreadsheets with a completely separate data entry area and a separate report area? Paste a simple spreadsheet example.

Q2-4 What is an 'IF' statement (function)? Provide an accounting example.

Q2-5 Microsoft Excel is an example of spreadsheet software. List five further examples of spreadsheet software.

The group of questions above can be answered from any source including internet resources.

Q2-6 Marking guide Q2-6 4% Explain the essential differences between perpetual and periodic inventory systems. Give examples of products/situations suited to each.

Q2-7 Marking guide Q2-7 10% Learning Objective: journal entries for a perpetual and periodic inventory systems.

Q2-9 Marking guide Q2-9 4% List and explain four accounting principles relevant to inventory. Give examples.

Q2-14 Marking guide Q2-14 6% Learning Objective: journalising accounts receivable entries.

Detail the journal entries needed to show sales on credit, the collection of part of the amount owing, the write off of accounts receivable, the reinstatement of an amount written off and the collection in full of the amount owing.

Q2-15 Marking guide Q2-15 3% Contrast three different methods of calculating bad debts. Create simple examples.

Q2-16 Marking guide Q2-16 2% How can we use receivables to evaluate a firms financial position?

Q2-10 Marking guide Q2-10 4% List and explain the four major inventory costing (flow) methods

Q2-19 Marking guide Q2-19 2% What kind of account is Bad debts, Accounts receivable, Allowance for bad debts, Accumulated depreciation? Why? (P A L E R)  Q2-20 Marking guide Q2-20 12%

Work Integrated Assessment case study McDonald’s Annual Report

Learning Objectives: The subject you are studying is vocational. It is designed with the workplace in mind. Work integrated assessment provides opportunities for students to link theory and skills learned in a subject to a real work context. Students can use these opportunities to develop and practice the professional and academic skills they learn about in a subject or through the online environment and then be assessed on their capabilities in these simulated authentic environments. Work integrated assessment allows students to simulate and situate their learning in an authentic workplace that encourages them to explore their knowledge and apply it to practice. Integrating real world, authentic assessment tasks allows students to learn about the particular environments and culture of their chosen professions, while at the same time absorbing and practicing the skills they need to succeed. Doing these tasks can help students develop skills that can help their employability.

Resources for this task include the 2013 Annual Report for McDonald’s Corporation.

Your friend Jack is studying architecture at another University and knows very little about accounting and annual reports. Jack's uncle gave him $20,000 recently to invest. Jack knows you have begun studying accounting and is considering buying McDonald’s shares. Jack has looked at the McDonald’s annual report for 2013 and has some questions for you. Present your answers concisely in a business report format.  

Jack’s questions:

1. How many customers do McDonald’s have each year?

2. What are the total assets for 2013?  

3. How much are the Foreign currency net assets exposures? Explain this item.  

4. Find the Balance Sheet and identify the amounts and explain: Goodwill, Prepaid expenses, Income taxes and Accrued Payroll.  

5. Calculate the Working Capital ratio.

 

6. What issues should Jack keep in mind in deciding to invest in McDonald’s shares.  

Go to www.mcdonalds to find the McDonald’s home page. Click on the “Corporate Info” heading under “Our Story”. Select the “Investors” heading. Then click on “Annual Reports” and select the 2013 report.