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Accounting and Bookkeeping FNSTPB401 Complete business activity and instalment activi Project 1 Student Name:Sumit Mahajan Student Number:PUPUU6GMUT Assessment number: 34514/02 Managing Business Activity Statements
ity statements All terms mentioned in this text that are known to be trademarks or service mark been appropriately capitalised. Use of a term in this text should not be regarded affecting the validity of any trademark or service mark. © Open Colleges Pty Ltd, 2018 All rights reserved. No part of the material protected by this copyright may be rep or utilised in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, with permission in writing from the copyright owner.
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Instructions to the learner This assessment will aim at developing your skills in preparing financial reports. You will take accounts clerk with the Absolute Accounting firm for the purpose of this assessment. The assessment requires you to complete and submit the corresponding answer book 34514 following the instructions below. Note:You only need to upload this MS Excel spreadsheet for grading. To help Open Colleges manage your assessment, please use the following file-naming conve Excel Answer Book. Your file should be named and saved to your computer hard drive using your: Your file should your computer hard drive using your: [Student number] _ [assessment number].docx For example: EXXAAXXAA_34514_02.docx Supervision instructions To meet the requirements of the Tax Practitioner Board this assessment MUST be completed The Supervisor/Invigilator Instructions and Declaration Form 34514/SF contains two options supervision (which can be downloaded from OpenSpace) and MUST be submitted upon com Note: please refer to the supervision form before organising your supervision. Assessment submission Prior to submitting your assessment ensure that your name and student ID are included on th as in the footer of each page. If this is not done the assessment may be returned to you for a When you are ready to submit your assessment, upload the file to OpenSpace using the Ass the relevant study period of your course. The ‘Support’ tab provides further assistance. Uploa OpenSpace will enable Open Colleges to provide you with the fastest feedback and grading It is important that you keep a copy of all electronic and hardcopy assessments submitted to Assessment scenario This assessment will aim at developing your skills in preparing financial reports for a fictional Bookkeeping firm (Absolute Accounting). For the purpose of this assessment, students will a an accounts clerk with the Absolute Accounting firm and interact with other members of the A and simulated verbal communications (students will need to create one or more audio files to the tasks where applicable – instructions for creating an audio files are provided in the Excel The dates depicted in this assessment are purely fictitious and may not reflect your current y been used solely for the purpose of this assessment.
Assessment tasks e on simulated role of an 4/02 (excel) spreadsheet by ention when you save your d be named and saved to Task 1 – 5 Important note: The tasks within this assessment features financial information that has been created for a fictious business called The Coffee Shoppe. Details of this business are available on sheet 4 of this excel answer book 34514/02. These instructions required to comple This task will aim a performance skills instalment activity • research, critic legislative or profe business activity st • Australian taxa Tax Practitioner Bo • accounting prin • organisational statements • research meth knowledge of profe activity statements • Tax Agent Serv Conduct. TPB regi • Fringe Benefits • A New Tax Sys • Income Tax As • Taxation Admin • other taxation l fringe benefits tax luxury car tax and • Privacy Act • ATO requireme • Accounting ter and IAS for a rang • GST terminolo d under supervision. for you to organise mpletion of the assessment. he front cover page as well authentication. sessment Upload links in ading assessments to on your assessment. Open Colleges . l Accounting and assume a simulated role of Accounting firm via email o meet the requirement of Answer Books). year of study. They have
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Description Competency details FNSTPB401 Comple Assessment 2: Project The student must complete s are for the second of three assessments you are ete for this unit. at developing the following learning outcomes and for FNSTPB401 Complete business activity and statements: cally evaluate, and apply changes to current or new essional conduct requirements when preparing tatements (BAS) ation law, Australian Taxation Office (ATO) rulings, oard (TPB) requirements, and lodgment schedules nciples and practices policy and procedures relating to business activity hods and sources of information used to update essional and legislative requirements relating to s vices Act (TASA), including Code of Professional istration requirements, and civil penalty provisions s Tax Assessment Act stem (Goods and Services Tax) Act ssessment Act nistration Act laws, including taxable payments annual reporting, (for collection and recovery), wine equalisation tax, fuel tax ents rminology used when preparing and submitting BAS ge of business types ogy, classifications, regulations, and obligations Task 1 Business Activity com Task 2 Compliance with Cod Task 3 Seek further advice Task 4 BAS lodgement oblig Task 5 Check previous Qua
Excel Answerbook 34514/02 Excel Answerbook 34514/02 Excel Answerbook 34514/02 Excel Answerbook 34514/02 Excel Answerbook 34514/02 ete business activity and instalment activity statements t 1 Required Outcomes and submit the following. mpliance and requirements de of Professional Conduct gations arter
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Assessment Code Assessmen 34514/01 16 Questions - 34514/02 5 Ta Additional information for students Why must this exam be Supervised? The Tax Practitioners Board (TPB) requires a range of units of competency to be supervised to ens exam practices and integrity of learner outcomes. This supervision is required for all units of comp BAS, Payroll or Tax. The supervision requirement must meet at least 40% of the total assessments competency. These mandatory requirements can be located onwww.training.gov.au under the ‘As Conditions’ section of each unit of competency where applicable. For example, see FNSTPB402 Es a payroll system. How must this exam be Supervised? The Tax Practitioner Board (TPB) requires that the exam practices for this assessment is conducted an approved independent supervisor. The exam should not be administered by a family member, that has a close personal or professional relationship with the person (you) undertaking the asses To ensure all learners are well supported in meeting this requirement, we have partnered with Pro Leading Proctoring Solution for Online Exams. What is ProctorU? ProctorU is an online proctoring service (digitally supervised online exam administered through th student's web camera) that will supervise your exam online via appointments at no cost to you. P to undertake the supervised exam in the comfort of your own home. This specialised service has b Open Colleges to ensure the supervision is conducted according to the requirements set out by th Board (TPB). Supervision instructions To meet the requirements of the Tax Practitioner Board assessment 34514/02 (Project) and assess (Quiz) MUST be completed under supervision . In order to help you with this supervision we are u Please read all instructions before you book your assessment for supervision. You can access the P here – Getting Started (https://support.proctoru.com/hc/en-us/sections/115003172628-Getting-S
nt content - Automarked asks sure authenticity of petency related to s for each unit of ssessment stablish and maintain d objectively through friend or someone ssment. octorU – The he Internet and ProctorU allows you been tailored by he Tax Practitioner sment 34514/01 using Proctor U. ProctorU instructions Started)
Duration 60 Minutes 120 Minutes How ProctorU works? The following video will provide you with an overview as to how ProctorU works. Please take the time to watch it: Welcome to ProctorU Step by step instructions has been created to ensure you schedule your supervision correctly. Please read all the below information and follow the instructions in the hyperlinks: Information on how to prep for your supervision Common FAQs How to schedule an exam What you must remember during the exam process? • It’s an open book exam • You can use calculators • Bathroom breaks are allowed • If you do not pass the assessment, you will need to book it again and complete/redo the remaining parts you got incorrect • You can use any paper for calculations, any websites or refer to any learning material while sitting in exam • The first three (3) ProctorU sessions are free; A maximum of three (3) attempts are allowed, after which you may have to pay for further attempts • You must use Google Chrome as your web browser • Duration for the supervision exams: PLEASE NOTE: • If you have not scheduled your supervision appointment, you cannot proceed to complete this assessment. • To avoid any fees You must schedule the ProctorU appointments at least 72 hours in advance to avoid any fees. • A take it now option is available for same day appointments. The fee for this is $12 dollars (US).
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Client Informati on
Client Information Name: The Coffee Shoppe Pty Ltd Location: Eastern Suburbs, Sydney Description: The Coffee Shoppe is a medium-sized coffee shop located in the Eastern Suburbs of Sydney. They rent a two-storey premises. The bottom-storey has the coffee shop and a small bac office. The top-storey is a residential flat which is rented out. Revenue: The Coffee Shoppe earns its income through the sale of coffee, tea and other beverage such as soft drinks; selling home-made cakes and muffins supplied by a nearby cake-maker; and renting out the upstairs flat. Purchases: The Coffee Shoppe recently purchased a new coffee machine as well as some outdoo heaters. They import some of their coffee beans from Brazil. Employees: 1 General Manager (Natalya – Natalya@thecoffeeshoppe.com.au ) who also does mo the bookkeeping and banking. Currently, 4 additional staff work in the coffee shop: 2 full-time, 1 time and 1 casual. Other: As part of their advertising budget, The Coffee Shoppe sponsors a local sports team. Accounting Software: As of 1st July 2018, The Coffee Shoppe started using Reckon One. Natalya processes most of the transactions herself but may require some additional help from Absolute Accounting.
The Coffee Shoppe Pty Ltd Policies and Procedures Chart of Accounts: The Reckon One Chart of Accounts has been customised business needs. Additional accounts should only be added with the author accountant. Accounting Processes: An accrual accounting system is used in the busines documents must be checked for accuracy when entered into the system, an must record the account code, date of entry and then initial the source doc Bank Account Reconciliation: Bank reconciliations are performed on the la month. (For the purposes of this assessment you do not have to perform a Reconciliation.) GST Reconciliation: GST reconciliations are performed when the BAS is pre the accuracy of the BAS figures. An Absolute Accounting employee (studen the accrual-based GST on the financial statements to the cash-based GST o GST reports. Payroll Reconciliation: Payroll figures are reconciled quarterly when the BA confirm the accuracy of the wages and PAYGW figures reported on the BAS Accounting employee (student) will reconcile the payroll figures in the Fina the Payroll figures on the Payroll reports. This will be completed prior to re Withheld to the Australian Taxation Office. Filing of Financial Reports: All final reports specified must be printed and fi Authorisation of BAS: The final BAS will be presented to the General Mana authorisation and sign off on the BAS. Accounting Information Privacy: Any questions regarding financial transacti Coffee Shoppe, including employee questions regarding payroll, should onl The General Manager. Strict privacy of The Coffee Shoppe and its employee information will be maintained. Tax Reporting: • GST: The business is registered for GST reporting Quarterly on a Cash b • PAYG Withholding Tax is paid Quarterly. • PAYG Instalments are paid quarterly using an instalment rate of 2.1%.
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d to suit the risation of the ss. Source nd the processor cument. ast day of each a Bank epared to confirm nt) will reconcile on the BAS and/or AS is prepared to S. An Absolute ancial reports with eporting PAYG filed. ager for review, tions of The ly be directed to es’ payroll basis .
Task 1 a TPB registration requirements Superannuation Guarantee ATO requirements Taxable payments annual reporti Wine equalisation tax Luxury car tax Fuel tax List two key legislative, regula TPB registration requirements Explain each of the following. If 1)Tax Agent Services Act 2009 (T Professional Conduct. This code ATO provides various guidelines, accurate advice to clients. 1)Superannuation Guarantee (Ad 2)Australian Taxation Office (ATO payment of contributions within 1)Goods and Services Tax (GST) A Compliance with the GST Act is e 2)ATO Record-Keeping Requirem transactions, invoices, receipts, a 1)Taxable Payment Reporting Sys businesses must report specific d contractor payments. 1)Wine Equalisation Tax Act 1999 production, sale, and importatio 2)ATO Reporting and Payment O 1)A New Tax System (Luxury Car luxury cars. It provides guidance reporting, and payment of LCT lia 2)ATO Reporting and Payment O 1)Fuel Tax Act 2006: The Fuel Tax sale of taxable fuel. Compliance 2)Australian Taxation Office (ATO Answer template Task 1a
ting atory and/or industry requirements relating to preparing business activity statements, for each of the s, Superannuation Guarantee, ATO requirements, Taxable payments annual reporting, Wine equalisati you do not think any of the following is directly related to BAS, then mention it after your explanations. TASA): The TASA is the primary legislation governing tax agent services in Australia. As a registered tax practitio sets out the ethical and professional standards that tax practitioners must adhere to when providing BAS-rela , publications, and resources to assist tax practitioners in preparing and lodging BAS accurately. It is crucial to s dministration) Act 1992: This legislation outlines the obligations and requirements for employers regarding SG O) Reporting and Payment Obligations: The ATO sets specific reporting and payment obligations for employers, n the quarterly deadlines. Compliance with these requirements ensures adherence to SG regulations and prope Act 1999: The GST Act is the legislation that governs the goods and services tax in Australia. It sets out the rule essential when preparing BAS to ensure accurate reporting and payment of GST liabilities. ments: The ATO has specific record-keeping requirements that businesses must adhere to when preparing BAS. and other relevant documents. Adequate record-keeping ensures proper reporting, substantiation of claims, a stem (TPRS): The TPRS is a legislative requirement administered by the Australian Taxation Office (ATO) that re details of payments made to contractors, including their ABN, name, address, and total payment amounts. Co 9: The Wine Equalisation Tax Act is the legislation that governs the imposition and administration of the Wine on of wine. Compliance with this act is crucial when preparing BAS to ensure accurate calculation, reporting, an Obligations: The Australian Taxation Office (ATO) sets specific reporting and payment obligations for businesses Tax) Act 1999: The Luxury Car Tax is governed by the A New Tax System (Luxury Car Tax) Act 1999. This legislati on determining whether a vehicle qualifies as a luxury car, calculating the LCT liability, and reporting obligatio abilities. Obligations: The Australian Taxation Office (ATO) sets specific reporting and payment obligations for businesses x Act 2006 is the primary legislation governing the imposition and administration of fuel tax in Australia. It sets with this act is crucial when preparing BAS to ensure accurate calculation, reporting, and payment of fuel tax O) Reporting and Payment Obligations: The ATO sets specific reporting and payment obligations for businesses
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following: tion tax, Luxury car tax, Fuel tax: oner, you must comply with the requirements outlined in this act, including the Code of ated services. 2)Australian Taxation Office (ATO) Guidelines: The stay up to date with the ATO's guidelines and requirements to ensure compliance and provide G contributions, including employee eligibility, contribution calculations, and payment deadlines. , including reporting total SG contributions made for eligible employees and ensuring timely er contribution management. es and requirements for businesses regarding GST registration, reporting, and payment. . These requirements include maintaining accurate and complete records of all financial and compliance with ATO regulations. equires businesses in certain industries to report payments made to contractors. Under the TPRS, ompliance with the TPRS is essential when preparing BAS to ensure accurate reporting of Equalisation Tax. It outlines the rules and requirements for businesses involved in the nd payment of WET liabilities. s in relation to the WET. This includes reporting the WET liability on the BAS and ensuring timely ation outlines the rules and requirements for businesses involved in the importation and sale of ons. Compliance with this act is crucial when preparing BAS to ensure accurate calculation, s in relation to the Luxury Car Tax. This includes reporting the LCT liability on the BAS and s out the rules and requirements for businesses involved in the production, importation, and liabilities. s in relation to fuel tax. This includes reporting the fuel tax liability on the BAS and ensuring
Task 1 b Explain the following Acts Tax Agent Services Act (TASA) Certificate IV in financial service Privacy Act Only collect the informationm yo Fringe Benefits Tax Assessment A Method choice (gst or non gst) a A New Tax System (Goods and Se GST supplies and exempyed supp Income Tax Assessment Act Turnover test and business activi Taxation Administration Act A Legislation, regulations and ind List two key requirements rela Tax Agent Services Act (TASA), Taxation Administration Act Answer template Task 1b
es (booking) minimum and Board approved GST & BAS taxation principles. ou need and take care when handling sensitive information Act and record keeping to work out. ervices Tax) Act ply calucation as well as registration regirement voluntry/by LAW ity dustry codes that apply to the preparation of activity statements and record keeping ating to preparing business activity statements, for each of the following Acts: , Privacy Act, Fringe Benefits Tax Assessment Act, A New Tax System (Goods and Services Tax) Act, Inc
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come Tax Assessment Act,
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A B C D E F G Answer template Task 2
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For each of the following questions, please write a one or two sentence answer. Under the Tax Agent Services Act, what services is a Registered BAS Agent able to provide? Answer Compared to a Tax Agent, what limitations does a Registered BAS Agent have? Answer Identify and access the Code of Professional Conduct for BAS agents. State where you accessed this information and what are Answer Briefly describe three things you should do when preparing business activity statements to ensure you comply with the Code o Answer What professional development requirements and obligations do BAS agents have to keep up-to-date with changes in legislati Answer Answer Answer A Registered BAS Agent can provide services related to BAS preparation, lodgment, and GST advice under the Tax Agent Servic A Registered BAS Agent has limitations in providing services beyond BAS and GST matters, while Tax Agents have broader authority to hand 1)Honesty and integrity: BAS agents must act honestly, with integrity, and in a professional manner. 2)Independence: BAS agents must act independently and avoid any conflicts of interest. 3)Confidentiality: BAS agents must maintain the confidentiality of client information. 4)Competence: BAS agents must have the necessary knowledge and skills to provide BAS services and ensure their ongoing professional de 1)Maintain confidentiality 2)Act with honesty and integrity 3)Stay updated and competent By fulfilling their professional development requirements and staying informed about legislative changes, BAS agents can ensure they have and up-to-date BAS services to their clients. It is essential to check the specific professional development obligations set by the Tax Practitio most current information and requirements. Outline ways you could research, critically evaluate and apply any changes to current or new legislative or professional conduc (How do you stay up to date with current legislation? List any sources you use for legislative update, for example, names of we To stay up to date with legislative changes when preparing Business Activity Statements (BAS), you should regularly review official sources s reputable professional publications and journals, attend industry seminars and webinars, engage with professional membership organizatio activities. Critically evaluating and applying the changes to BAS preparation requires verifying information from reliable sources and referri If you were to fail to fulfil your professional development requirements and obligations, or engage in conduct that is prohibited (Individual BAS agnet's penalty units and amounts) Civil penalties may be imposed on individual BAS agents for failing to fulfill professional development requirements or engaging in prohibit units and amounts are determined by the Tax Practitioners Board (TPB) and may vary. To obtain accurate and up-to-date information on th TPB resources or seek guidance from a legal professional specializing in taxation laws.
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atements. face?
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Answer template Task 3
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If you had further questions about preparing BAS, who could you seek expert advice from? Answer Select one of the experts above, and write an email to them asking for further advice on a GST-related question. No need to us Answer What organisations exist to help book keepers keep up-to-date with recent developments and legislation? Answer Answer ICB canhelp bas agent in complicated GST queries. They also provide CPD to make sure BAS agents are up to date to legislation Tax Accountant: A qualified tax accountant who specializes in taxation and BAS matters can provide expert advice and guidance on preparin optimizing tax outcomes for your business. Registered BAS Agent: A Registered BAS Agent is specifically authorized to provide services related to BAS preparation. They have in-depth professional advice and assistance in accurately preparing and lodging your BAS. Tax Lawyer: If you require more specialized or complex advice on taxation laws and regulations related to BAS, consulting a tax lawyer can b Dear [Tax Accountant/Registered BAS Agent/Tax Lawyer's Name], I hope this email finds you well. I am reaching out to seek your expert advice regarding a GST-related question that I have encountered in re [Provide a brief explanation of the specific GST-related question or issue you would like assistance with. Be clear and concise in describing t Given your expertise in taxation matters, especially in the area of GST, I believe you would be the ideal professional to provide me with the aspect/question] and would greatly appreciate your insights and expertise to help me better understand the implications and potential sol If possible, I would like to schedule a consultation at your convenience to discuss this matter further. I am available [mention your availabili an in-person meeting, whichever is most convenient for you. Bookkeepers can leverage these organizations, professional bodies, and government agencies to stay informed, access resources, attend tra activities that help them keep up to date with recent developments and legislation in their field. Visit the website for one of the organisations above and provide a summary of what they do. Make sure you include the webs
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is email
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Answer template Task 4
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You can choose to use this template instead of using the Absolute Accounting web To:John Thurston Cc/Bcc Subject:BAS Due Date List your attachments here: Reply email to John Thurston: you must include all four quarters' due dates Hi John Hope you are well. Just to update your that as you are regitered for GST now so obligation to lodge your Bas proioper to the due date. Your due dates are SEP BAS -Due December BAS-DUE 28 February , March BAS-Due 28 April and June BAS-Due 28 July.
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Answer template Task 5
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Absolute Accounting GST Reconciliation Template QUARTERLY GST RECONCILIATION Accounting GST re GST Collected Reconciliation GST Collected per Balance Sheet (GST collected on an accruals basis) = GST Collected on a cash basis +/- adjustments/rounding = GST to pay (on a cash basis) for this period per BAS GST Paid Reconciliation GST Paid per Balance Sheet (GST paid on an accruals basis) = GST Paid on a cash basis +/- adjustments/rounding = GST credits (on a cash basis) for this period per BAS Complete the GST Reconciliation Template: "Period" must be a relevant Quarter Less GST on Receivables (refer to GST on Account Receivable Report, no report means no outstanding GST) Less GST on Payables (refer to GST on Accounts Payable Report, no report means no outstanding GST)
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Period: Jun-21 g System: Accruals eporting: Cash $7,866.00 - $7,866.00 $7,866.00 $3,467.00 $252.46 $3,214.54 $0.46 $4,651.00 )
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You have now reached the end of this assessment Next steps for you…… Ensure that you have completed double check that you have subm Your file should be named and s [Student number] _[assessment For example: EXXAAXXAA_3451 OpenSpace, complete the stude this document to OpenSpace, co submit. Your Assessor will provide you w sheet. If you have any questions reach out and contact your asse If you are awarded a NYS grade, your next attempt meets the cri
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d all answer template sheets for the 3 tasks. And mitted everything required for this assessment. saved to your computer hard drive using your: t] _ [assessment number].docx 14_02.docx - Upload this document to ent declaration and then press submit.Upload omplete the student declaration and then press with feedback for this assessment on the next s in relation to your grade or feedback, please essor via the Open Space message centre. , please read the feedback carefully to ensure iteria outlined for this assessment.
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Office Use Only Asse Student Name: Assessment No: 34514/02 Unit (title and code) FNSTPB40 Assessor Name Assessor Comments: Grades: SA Satisfactory NYS Not Yet Satisfactory Assessment feedback OFFICE USE ONLY
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essment Feedback Sumit Mahajan 01 Complete business activity and instalment activity statements Date: IN Incomplete SE Submission Error
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geNOWv2 | Online teachin x + eAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false * O cel You.. F Startup Opportuniti. V How brands are co.. Assignment Practic... A COVID-19 Student.. C20-128PRO1-2016.. Final Exam Review -. G Professional Certific. Falkland, Inc., is considering the purchase of a patent that has a cost of $51,000 and an estimated revenue producing life of 4 years. Falkland has a cost of capital of 12%. The patent is expected to generate the following amounts of annual income and cash flows: Year 1 Year 2 Year 3 Year 4 Net income $5,100 $6,500 $6,300 $3,000 Operating cash flows 17,000 18,300 18,450 15,100 (Click here to see present value and future value tables) A. What is the NPV of the investment? Round your present value factor to three decimal places and final answer to the nearest dollar. B. What happens if the required rate of return increases? If the required rate of return increases, Previous Next
mp?attempt=1764992&cmid%3875183&page=D12 الم صيرة بلحه u io a https://alternativet 4 SQUCOFFEE - Goog. B BCOM2911-Busines.. O Sultan Caboos Univ. O Trading Platfom ACADEMIC) E-LEARNING SERVICES SQU LIBRARIES SQU PORTAL ATTENDANCE lanagerial Accounting - Spring21 e / My courses / ACCT2121 yasserg Spring21/ Midterm Exam One / Midterm Exam One stion The adjustment of overapplied manufacturing overhead cost results in all the following, EXCEPT: O a. decrease in net operating income. ed O b. increase in net operating income. out of Oc. decrease in cost of goods sold O d. none of the given answers stion XYZ Company had the following information for the year: red Direct materials used OMR 110,000 dout of Direct labor incurred (5,000 hours) OMR 150,000 Actual manufacturing overhead incurred OMR 166,000 on The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventc an ending Work in Process Inventory balance of OMR 17,000. What was cost…
Class Specifi + CLA Annotated B WileyPLL X WOMEN EM THE LIVED E https://edugen.wileyplus.com/edugen/student/mainfr.uni I Log C WileyPLUS: MyWileyPLUS I Help | Contact Us INTERMED. ACCOUNTING (ACC 3110/312 Kieso, Intermediate Accounting, 16e actice Downloadable eTextbook Assignment Gradebook ORION gnment NEXT BACK PRINTER VERSION FULL SCREEN CALCULATOR Exercise 17-10 At December 31, 2017, the available-for-sale debt portfolio for Sheffield, Inc. is as follows. Unrealized Gain (Loss) Fair Value Security Cost $(11,375 ) $68,250 $79,625 A 6,825 63,700 56,875 B 11,375 116,025 104,650 C $247,975 6,825 $241,150 Total 1,820 Previous fair value adjustment balance-Dr. $5,005 Fair value adjustment-Dr. On January 20, 2018, Sheffield, Inc. sold security A for $68,705. The sale proceeds are net of brokerage fees. Sheffield Inc. reports net income in 2017 of $546,000 and in 2018 of $637,000. Unrealized holding gains and gains equal $182,000 in 2018. Prepare a statement of comprehensive income for…
X Topic: Discussion - What is the rol X + rses/1545/discussion_topics/15677?module_item_id=111468 Q Search entries or author... All > ↓ Sort View Split Screen Expand Threads You must post before seeing replies. Edit history will be available to instructors. Due Jan 4, 2025 11:59pm 时☆ 10 points possib Discussion - What is the role of ethics in accounting? Requirement: Include Introduction, Body, and Conclusion. Your initial Discussion posting should be at least 150 words in length. 9 Replies, 9 Unread Be sure to include a related Title, at least two different citations and references to support your statement Read and post brief responses to at least two of your classmates' postings (minimum 75 words).
multiplymovement.com/english_multiply.pdf WileyPLUS WileyPLUS: MyWileyPLUS | Help I Contact Us | Log C Weygandt, Accounting Principles, 13e FINANCIAL/MANAGERIAL ACCOUNTING (ACC 124/125/201/20 CALCULATOR STANDARD VIEW PRINTER VERSION 1 BACK NEXT Exercise 10-13 a1-a2 (Part Level Submission) (Video) Gill Company, organized in 2020, has the following transactions related to intangible assets. 1/2/20 Purchased patent (7-year life) $595,000 4/1/20 Goodwill purchased (indefinite life) 360,000 7/1/20 10-year franchise 480,000 9/1/20 Research and development costs 185,000 - (a1) Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December 31, 2020, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0…
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F myCampus Portal Login - for Stu X B 09 Operational and Legal Consid x E (24,513 unread) - sharmarohit81 b My Questions | bartleby A fleming.desire2learn.com/d21/le/content/130754/viewContent/1518900/View?ou=130754 Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations 09 Operational and Legal Considerations - > Calculating Capacity • How many machines do you need? • You expect your sales to be 3,000,000 granola bars (20g each) • How large is your plant? per month • How many workers do you need? The machine: • How much is the investment? Capacity: 100 kgs per hour • What are the operating costs? Requires 2 people to operate it Takes 8 ft x 40 ft space • Cost per machine $15,000 Energy and maintenance: $5 per hour • Cost of material and packaging: $0.12 per bar I Group Project.xlsx Show all 12:35 AM O Type here to search A O 4) ENG 2020-12-09
mageNOWv2 | Online teachin + keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false ncel Your.. F Startup Opportuniti. V How brands are co.. Assignment Practic.. A COVID-19 Student. C20-128PRO1-2016. O Final Exam Review -. G Professional Certific. Assume a company is going to make an investment of $460,000 in a machine and the following are the cash flows that two different products would bring in years one through four. Option A, Option B, Product A Product B $190,000 $155,000 190,000 180,000 65,000 65,000 25,000 70,000 A. Calculate the payback period of each product. Round your answers to 2 decimal places. Option A, Product A years Option B, Product B years B. Which of the two options would you choose based on the payback method? Previous Ne
CengageNOWv2 | Online teachin X = Ch. 12 Key Terms - Principles of A X + ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false ow to Cancel Your. F Startup Opportuniti. V How brands are co... Assignment Practic.. A COVID-19 Student. . C20-128PR01-: Record the journal entries for each of the following payroll transactions. If an amount box does not require, leave it blank. Apr. 2 Paid $640 and $300 cash to a federal depository for FICA Social Security and FICA Medicare, respectively. Apr. 4 Paid accumulated employee salaries of $16,220. Apr. 11 Issued checks in the amounts of $480 for federal income tax and $300 for state income tax to an IRS-approved bank. Apr. 14 Paid cash to health insurance carrier for total outstanding health insurance liability of $800. Apr. 22 Remitted cash payments for FUTA and SUTA to federal and state unemployment agencies in the amounts of $130 and $250, respectively. Аpг. 2 Apr. 4 Apr. 11 Apг. 14 Apг. 22 78°F…
Students Home M Federal Financial Aid Program X Students Home Ch. 7 Hmwk: Invoices, Trade &X A Ch. 7 Hmwk Invoices, Trade & X A webassign.net/web/Student/Assignment-Responses/last?dep3D27277752 Apps M Gmail DYouTube Maps ... ... EReading list 7. [-/1 Points] DETAILS BRECMBC9 7.I1.010. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Calculate the net price factor (as a %) and net price (in $) by using the complement method. Round your answer to the nearest cent. List Price Trade Discount Rate Net Price Factor Net Price $3,499.00 35% $4 Need Help? Read It 8. [-/1 Points] DETAILS BRECMBC9 7.J1.014. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Calculate the trade discount (in $) and trade discount rate (as a %). Round your answer to the nearest tenth of a percent. List Price Trade Discount Rate Trade Discount Net Price $4,500.00 $3,515.00 Need Help? 11:28 PM 71°F (岁 10/9/2021 P Type here to search
CengageNOWv2 | Online teachir + /takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Cancel Your.. Startup Opportuniti. V How brands are co... A Assignment Practic. A COVID-19 Student. * C20-128PRO1-2016. A Final Exam Review -. G Professional Certific. During the current year, Sokowski Manufacturing earned income of $327,600 from total sales of $5,200,000 and average capital assets of $12,200,000. What is the sales margin? If required, round your answer to one decimal place. Previous Next
ngageNOWv2 | Online teachin x = Ch. 12 Key Terms - Principles of A X takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Cancel Your... F Startup Opportuniti. V How brands are co.. Assignment Practic... COVID-19 Student.. C20-128PR01-2016... O Final Exam Review Eli Inc. issued $110,000 of 10% annual, 4-year bonds for $112,800. What is the total amount of interest expense over the life of the bonds?
Access the FASB Accounting Standards Codification at the FASB website(www.fasb.org). Determine the specific citation for each of the following items:Required:1. The topic number for business combinations.2. The topic number for related party disclosures.3. The specific seven-digit Codification citation (XXX-XX-XX) for the initialmeasurement of internal-use software.4. The specific seven-digit Codification citation (XXX-XX-XX) for the subsequentmeasurement of asset retirement obligations.5. The specific seven-digit Codification citation (XXX-XX-XX) for the recognition ofstock compensation
via McCollum XR Homepage | Robeson X 2 08 MAT-143-BD1.2023SP X CengageNOWv2 | On X https://v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Business Income & Ex 09 3-10 03-11 2.03-12 03-01 Algo R.03-02 R.03-03 PR03-04 Algo PR.03-06 PR 03-06 Progress: 15/41 items 62"F Mostly clear D ● 9 ● ● 5 RIL eBook Problem 3-3 Inventories (LO 3.2) T B Lawrence owns a small candy store that sells one type of candy. His beginning inventory of candy was made up of 10,000 boxes costing $1.50 per box ($15,000), and he made the following purchases of candy during the year: March 11 August 15 November 20 Ending inventory. Cost of goods sold Feedback At the end of the year, Lawrence's inventory consisted of 16,000 boxes of candy. a. Calculate Lawrence's ending inventory and cost of goods sold using the FIFO inventory valuation method. 6 10,000 boxes at $1.55 20,000 boxes at $1.65 10,000 boxes at $1.70 b. Calculate Lawrence's ending inventory and cost of goods sold…
Class Specifi + CLA Annotated B WOMEN EM WileyPLLX THE LIVED E http://edugen.wileyplus.com/edugen/student/mainfr.uni WileyPLUS: MyWileyPLUS I Help I Contact Us I INTERMED. ACCOUNTING (ACC 3110/ Kieso, Intermediate Accounting, 16e ice Downloadable eTextbook Gradebook Assignment ORION ment BACK PRINTER VERSION FULL SCREEN CALCULATOR Exercise 17-22 Whispering Company has the following investments as of December 31, 2017: $1,570,000 Investments in common stock of Laser Company Investment in debt securities of FourSquare Company $3,180,000 In both investments, the carrying value and the fair value of these two investments are the same at December 31, 2017. Whispering's stock investments does not result in significant influence on the operations of Laser Company. Whispering's debt investment is considered held-to-maturity. At December 31, 2018, the shares in Laser Company are valued at $1,120,000; the debt investment securities of FourSquare are valued at $2,310,000. Assume that these…
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