ACCT10001 Accounting Reports and Analysis

Assignment 1 Part Two

Instructions

In your University email account inbox, you should find an email with the subject line: ACCT10001 Assignment 1
Contained within the email are the instructions for the assignment. If you cannot locate this email, you must con
Your unique transaction data is located in the red highlighted tab labelled Individual Transactions.
A suggested solution to Part One of the Assignment is in the red highlighted tab titled Transaction Analysis Wor
A worksheet to produce the financial statements is located in the GREEN highlighted tab.
Upon completion of the task you MUST save this file as either an .xls or .xlsx file and name it with your studen
Submissions will be via the LMS Assignment Tool.

The Task

From the data contained in the red table labelled Individual Transactions and Transaction Analysis Worksheet t
Financial Position using a style consistent with that demonstrated in the Lecture 2 illustration.

The financial statements are to be presented using the functional approach.

Do not make changes to the format or structure of this excel file. This includes inserting or deleting any rows o
copying, cutting or pasting to or from other excel files, including files linked to other spreadsheet programs. An
that are corrupted in any way risk receiving a mark of zero.

All entries must be selected from the drop down menus or entered numeric only (formulae producing numeric r
Designate negative entries in any cell by preceding the number with a negative/minus sign. Do not use parenthe
automatically default to displaying parentheses/brackets after you leave the cell.

Any queries should be directed to ARA-enquiries at [email protected]. You should also check Anno

Best of luck!
Event
Event 1

Event 2

Event 3

Event 4

Event 5

Event 6

Event 7

Event 8

Event 9

Event 10

Event 11

Event 12

Event 13

Event 14
Transaction
The company uses up the remainder of its previous prepaid insurance contract in the first six months of the finan
months of the financial year. The insurance related to administration. The accountant informs you that Other cu

The company paid all wages owing from the previous period, which made up the total opening balance of Other
remainder to selling expenses.

The company collects $580040 from its trade receivables during the financial year.

The company paid all corporate income tax owing from the previous period. In addition, the company incurs a fu

The company purchased $412200 of inventory from its suppliers. The inventory was purchased on credit.

The company pays rent of $8000 per month on a 12-month lease. The rent related to administrative offices.

The company issued 9840 shares to new investors. These shares were issued at an average price of $5 per share

The company declares and pays a dividend of $9271 to its shareholders.

The company receives a dividend from one of its investments of $4830.

The company purchased an additional $25000 of production equipment. Half was paid in cash, with the remainin

The accountant determines that depreciation should be recorded at $8327. The accountant estimates that 10 pe

The company repays $37853 of its borrowings. This amount includes $4937 of interest. The remaining borrowing

The company makes total sales of normal goods and services of $632000. Of this amount $35600 was received in

The company makes payments to inventory suppliers of $390926.

 Details Cash Trade receivables

Opening balances 86,276 43,280

Event 1 (3,600)
Event 2 (18,036)
Event 3 580,040 (580,040)
Event 4 (4,634)
Event 5
Event 6 (96,000)
Event 7 49,200
Event 8 (9,271)
Event 9 4,830
Event 10 (12,500)
Event 11
Event 12 (37,853)
Event 13 35,600 596,400
Event 14 (390,926)

Closing balances 183,126 59,640

 TRANSACTION ANALYSIS WORKSHEET

Property, plant &

Inventories Other current assets Investments Trade payables
equipment

34,359 2,429 83,268 132,790 19,946

(629)

412,200 412,200

25,000
(8,327)

(411,200)
(390,926)

35,359 1,800 99,941 132,790 41,220

ET

Other current
Current tax payable Borrowings Contributed equity Retained earnin
liabilities
Opening balance - Retained ea
4,634 2,036 164,580 98,495
Income

(2,036)

24,396

49,200

4,830
12,500

(32,916)
632,000

636,830
29,030 12,500 131,664 147,695
Closing balance - Retained ea
 Retained earnings

pening balance - Retained earnings 92,711

Expenses Dividends

(4,229)
(16,000)

(29,030)

(96,000)

(9,271)

(8,327)
(4,937)
(411,200)

(569,723) (9,271)
Closing balance - Retained earnings 150,547
 FanglePL Pty Ltd.
Statement of Profit and Loss for the year ended 30 June 2023 Statement of Financial
$
Sales 632,000
Cost of sales (411,200)
Gross profit 220,800
Other revenue 4,830
Administrative expenses (102,400)
Selling expenses (9,600)
Depreciation expense (8,327)
Finance expenses (4,937)
Insurance expense (4,229)
Profit before tax 96,137
Income tax expense (29,030)
Net profit 67,107
 FanglePL Pty Ltd. Cell ref. Student requirements
Statement of Financial Position as at 30 June 2023 B2 Text (company name enter
$ F2 Text (company name enter
Current assets B3 to D3 Pull Down Menu 1 (click on
Cash and cash equivalents 183,126 F3 to H3 Pull Down Menu 1 (click on
Trade receivables 59,640 B5 to B34 Pull Down Menu 2 (click on
Inventories 35,359 F5 to F34 Pull Down Menu 2 (click on
Other current assets 1,800 D5 to D34 Numeric entry
Total current assets 279,925 H5 to H34 Numeric entry
Non-current assets
Property, plant & equipment (net) 99,941 Note: Click the down arrow next to cell t
Investments 132,790
Total non-current assets 232,731 Edit options
Total assets 512,656 Bold cell contents (both text and numeri
Current liabilities Solid top border
Trade payables 41,220 Solid bottom border
Borrowings 32,916 Solid double bottom border
Current tax payable 29,030
Other current liabilities 12,500
Total current liabilities 115,666
Non-current liabilities
Borrowings 98,748
Total non-current liabilities 98,748
Total liabilities 214,414
Net assets 298,242
Equity
Contributed equity 147,695
Retained earnings 150,547
Total equity 298,242
 Pull Down Menu 1
udent requirements Statement of Financial Position
xt (company name entered by student) Statement of Profit and Loss
xt (company name entered by student) as at
ll Down Menu 1 (click on cell to access) for the year ended
ll Down Menu 1 (click on cell to access) 30 June 2024
ll Down Menu 2 (click on cell to access)
ll Down Menu 2 (click on cell to access)
umeric entry
umeric entry

down arrow next to cell to access Pull Down Menu

ts (both text and numeric)

ttom border