Accounting for Business - Accounting and Finance Assignment Help

Assignment Task

Here are the details for the assignment Part A.  

Please aim to complete the assignment a few days before the due date to allow for any unforeseen circumstances such as illness, family issues, work commitments etc. You may submit the assignment early if you have other commitments around the due date.

The due date and time is stated in the Course Outline, on the unit website and above. Please note it is your responsibility to ensure you factor in any time difference between Adelaide (South Australia) and your location when submitting your assignment.
Please note that following important instructions relating to the assignment format and submission:
1. You mustcomplete your assignment using the assignment Word document provided.
2. Do not convert this document into any otherformat (.docx or .doc are the only permissible file formats that can be uploaded).
3. You can only submit this one file.
4. Do not ‘embed’ other files (Excel for example) as pictures within the assignment Word document.
5. You cannot scan handwritten responses and submit.  All assignments must be word-processed. 
6. All assignments must be lodged via the course website page (link located on the same page as the assignment). 
7. Assignments submitted via e-mail (or any other method) will NOT be accepted.
8. Make sure that you upload the correct file. If you discover (after the due date) that you have uploaded a draft version or the wrong file completely, you will not be allowed to submit a second file.
IMPORTANT - Failure to follow these instructions may result in your assignment not being marked, and you will receive a zero grade.
Please note that this is an individual piece of assessment. 

Please also be aware that extensions to assignment due dates will only be approved in exceptional circumstances and for reasons that could not have been foreseen at the commencement of the study period.  All applications for extensions must be submitted via the “Extensions” link provided on the course site, and must include an explanation of the circumstances under which the extension is being sought and relevant supporting documentation must be included with the original application. Circumstances such as usual workload (university or employment), taking a holiday, being overseas or any situation within the control of the student do not qualify as grounds for an extension.
Please note that extension requests made within 7 days of the due date must also include a draft of the work you have completed to that point.

Best of luck with your assignment. 
Accounting for Business Assignment – Learning Outcomes

The Assignment is a further opportunity to apply the knowledge and skills that you are developing. The Assignment also develops learning outcomes which are highly valued by the employers of accounting graduates: Knowledge, Judgement, Critical analysis and Problem-solving skills, and Communication skills. Learning outcomes are the knowledge and skills that graduates are expected to know, understand and be able to do as a result of their learning. 

Communication skills
Employers want graduates who are strong communicators. Communication skills rank among the most important selection criteria that employers use when recruiting graduates (Source: Graduate Careers Australia). These three aspects of your written communication skills development will be assessed in the assignment to a maximum of 6 marks:
• Paraphrasing,
• Being relevant and the art of selection, and
• An introduction to writing for a professional business audience.

Please refer to Study Resources on the course page (http://online.unisa.edu.au/current-students/study-resources/).   It has information about the three aspects of your written communication skills development and links to accompanying resources that will assist you develop your skills.  

As you use the resources and apply them in your assignment, remember that the finest communicators are constantly developing their skills, based on experience and observing other communicators.  Nonetheless, your studies are the perfect time to start working on these skills and appreciating their importance in business careers and professions.  
Sources: Hancock, P., Freeman, M. and Associates. (2010), Graduate Careers Australia (graduatecareers.com.au) and Achievement Matters (achievementmatters.com.au). 
QUESTION 1: 

Tyler Parker is a sole proprietor of ‘Star Ship’ which sells specialised raw food products. He has been successfully operating Star Ship for the past five years and builta strong reputation providing high-quality raw food products. 
Tyler has been busy running and managing the business, thus has decided to hire Winston& Co. Accounting Solutions Pty Ltd to take over the business’ accounting function. You are the graduate accountant working at Winston& Co. Accounting Solutions Pty Ltd, and are responsible for providing accounting services, including preparing monthly journals for Star Ship. 
The following is a list of transactions that took place during the month of October 2020. 

October2 Star Ship purchased a product mix machine for $12,500.Tylerpaid 35% of the price in cash and will pay the remaining outstanding amount within 30 days.  

October3 Tyler Parker visitedMyer and paid $650 for a pair of shoesfor his personal use using the business bank account.

October 5 Star Ship paid $3,700for staff wages. 

October 10 Star Ship sold and delivered $2,300 worth of grains to one of his customers. The customer paid 20% of the total due in cash and will pay the outstanding amount within 25 days.  

October 12 Tyler Parker contributed a further $15,000 of his own money to the business.  

October 15 Cleaners Clean Ltd cleaned the shop and factory and left an invoice #271 for $650 for the shop and $450 for the factory with payment terms of 30 days. 

October 18 Star Ship received the remaining balance of the sales made on 10 October 2020. 

October 23 Star Ship purchased 3 new scales. The scale cost $250 each. The purchase was paid in cash. 

October 27 Star Ship paid the amount owing from the purchase of the product mix machine on 2October.

October 29 Star Shipreceived an electricitybill of $850 and water bill $550 but has not paid them yet. 

October 30 Star Ship paid Cleaners Clean Ltd relating to the transaction on 15 October. 

QUESTION 4: 
This section refers to Question 2 General Journals provided in the question. 
Archie Lake is also a client of Winston & Co. Accounting Solutions Pty Ltd. He has written to the Managing Partner (Sam Medlin) about some transactions for clarification as he is uncertain about some transactions recorded for June 2020. 
As part of your ongoing professional development, the Managing Partner has asked you to prepare a formal business letter addressed to him (not the client), in which you will respond to the client’s questions. 

This Accounting and Finance Assignment has been solved by our Accounting and Finance Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.