This assignment is designed to access your level of knowledge of the key topics covered in this
Unit Learning Outcomes Assessed;
-Obtain and contextualise business information for business accounting to explain and apply
different concepts of costs to business decisions;
-Apply, analyse, synthesise and evaluate information from multiple sources to make decisions
about the financial performance of entities including assets, liabilities, owner’s equity, revenue
-Prepare, analyse, and interpret transaction data and financial statements for data-driven
-Evaluate the complete concepts of accounting such as roles and purposes of accounting and
preparation of worksheets; and
-Communicate accounting information in writing professionally.
Each week students were provided with three tutorial questions of varying degrees of difficulty.
The tutorial questions are available in the Tutorial Folder, for each week, on Blackboard. The
Interactive Tutorials are designed to assist students with the process, skills and knowledge to
answer the provided tutorial questions. Your task is to answer a selection of tutorial question for
week 1 to 5 inclusive and submit these answers in a single document.
The questions to be answered are;
Question 1 (7marks)
(Note this question is from the Week 4 tutorial)
Imagine that you are manager in a large entity and need to make a recommendation to the CEO
on which tender to accept. The job being put out to tender by the entity is worth millions of
dollars, and you have a significant ownership share in one of the companies tendering. Outline
the ethical issues to be considered. (7marks, Word limit; minimum 120 to maximum 150
Question 2 (7marks)
Note this question is from the Week 6 Tutorial)
The following information was obtained from the financial records of Roger Ltd for the year
ended 30 June 2020/ Prepare the statement of profits or loss for the year ended 30 June 2020.
Retained earring 1 July 2019 $90,000
Sales revenue from counting operations for the year $600,000
Finance costs $20,000
Estimated income tax expense for the year ended 30 June 2020. $112, 500
Interim dividends paid (ordinary shares) $100,000
Write off research and development costs $5,000
Share capital (1million $2 shares) $2,000,000
Expenses from ordinary activities (excluding finance cost) $200,000
a) Prepare the statement pf profit or loss for the year ended 30 June 2020. (4marks)
b) Prepare statement of changed in equity for the year ended 30 June 2020. (3 marks)
Question 3 (7 marks)
Note this question is from the Week 7 Tutorial)
ABC Company had a positive net cash flow for the year, but its statement of profit or loss
reported a loss for the period. Explain
(7marks, Word limit; minimum 120 to maximum 150 words)
Question 4 (7 marks)
Note this question is from the Week 8 Tutorial)
Selected information for two companies competing in the catering industry have been presented
Accounting A Ltd B Ltd
Current assets $55,250
Non-currented assets $125,000 $149,500
Current Liabilities $29,300 $11,750
Non-current Liabilities $44,850 $72,500
Equity $106,100 $149,200
A. Calculate the following rations for A Ltd and B Ltd;
i. Calculate ration. (1 mark)
ii. Return on Assets (ROA). (1 mark)
iii. Return on Equity (ROE). (1 mark)
B. From your calculations in part A, explain which entity is in a more favourable position.
(4 marks, words limit; minimum 120 to maximum 150 words)
Question 5 (11 marks)
Note this question is from the Week 10 Tutorial)
Everest Sports owned by Dean Jones sells sports equipment to schools and sporting clubs in
Victoria. The following balances were reported in the Balance Sheet as at 30 June 2020.
Account Name Balance($)
Cash at bank 19,700
Account receivable 1,400
Accounts payable 600
Capital-Tim Lane 20,500
Transactions for July 2020 were as follows;
July 2 Received $1,400 from accounts receivable
3 Paid $500 of accounts payable
4 Paid rent for July $700
5 Sent invoice t customer $5,600
7 Purchased office equipment for cash $2,000
9 recorded cash sales $800
10 recorded credit sales $1,500
14 Purchased office supplies for cash $330
23 Recorded cash sales $2,000
31 Cash drawing by Dean Jones $800
A. Prepare worksheet entries for the business transactions for the month ended 31 July 2020.
B. Summarise the procedures you would undertake if an according worksheet does not balance.
(4 marks. Word limit; minimum 120 to maximum 150 words)
Question 6 (11 marks)
(Note this question is from the Week 11 Tutorial)
The Toowoomba Produce Suppliers packages and distributes three grades of animal feed. The
material cost per tonne and estimated annual sales for each of the products are;
Product Material coat Estimated sales
SuperPremium $16 1000 tonnes
Premium $12 1500 tonnes
Economy $10 2500 tonnes
The indirect cost of operating the machinery used to packages all three products is $20,000 per
year. In the past, prices have been set by allocating the indirect costs to products on the basis
of estimated sales in tonnes. The resulting total costs (material costs plus allocated fixed
overhead) are then marked up by 100 per cent.
A. Allocated total indirect cost to each product. (3 marks)
B. Determine the total cost for each product. (3 marks)
C. Calculate the selling price per unit for each product, using the method described for setting
prices. (3 marks)
D. Does the price in part C, take into account how much customers are willing to pay for the
product? Explain. (2 marks. Word limit; minimum 80n to maximum 100 words)
The assignment will be submitted via Blackboard. Each student will be permitted only ONE
submission to Blackboard. You need to ensure that the document submitted is the correct one.
XXXX XXXX is committed to ensuring and upholding Academic Integrity is integral to
maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, all
assessment tasks need to comply with academic integrity guidelines. Table 1 (below) identifies
the six categories of Academic Integrity branches. If you have any questions about Academic
Integrity issues related to your assessment tasks, please consult your lecturer or tutor for
relevant referencing guidelines and support resources. Many of these resources can also be
found through the Study Skills on Blackboard.
Academic Integrity breaches are a serious offence punishable by penalties that may range from
dedication of marks, failure od the assessment task or unit involved, suspension of course
enrolment, or cancellation of course enrolment.
Table 1; Six categories of Academic Integrity breaches
Plagiarism ; Reporting the work of someone else without attribution. When a student submits
their own work on multiple occasions this is known as self-plagiarism.
Conclusion; Working with one or more other individuals to complete an assignment, in a way
that is not authorised.
Copying; Reproducing and submitting the work of another student, with or without their
knowledge. If a student fails to take reasonable precautions to prevent their own original work
from being copied, this may also be considered an offence.
Impersonation ; Falsely presenting oneself, or engaging someone else to present as oneself,
in and in-person examination.
Contract cheating; Contracting a third party to complete an assignment task, generally in
exchange for money or other manner of payment.
Data fabrication and falsification ; Manipulating or inventing data with the intent of supporting
false conclusions, including manipulating images.
If any words or ideas used the assignment submission do not represent your original words or
ideas, you must cite all relevant sources and make clear the extent to which such sources were
In addition, written assignments that are similar or identical to those of another students is also
violation of the XXXX’s Academic Conduct and Integrity policy. The consequence for a violation
of this policy can incur a range of penalties carrying from a 50% penalty through suspicion of
enrolment. The penalty would be dependent on the extent of academic misconduct and your
history of academic misconduct issues. All assessments will be automatically submitted to Safe
– Assign to assess their originality.
For further information and additional learning resources please refer to your Discussion Board
for the unit,