DBA501: Introduction to Accounting and Taxation - Accounting Assignment Help

Assignment Task:

PART A INSTRUCTIONS 

You have been asked to prepare special purpose financial statements for Express Events Ltd (including accounting policies and notes) for the year ended 31 March 20x2. 

SCENARIO 

Express Events Ltd is a business specialising in party planning and event management. The balance date is 31 March and the shareholding in the company is as follows: 

All information is GST exclusive. 

i.Interest on the loan is 5% per year. The current portion of the loan is $32,000.

ii.Interest earned on the ANZ Term Deposit accrues on a quarterly basis at 3.5% per year. Interest for the March 20x2 quarter is due to be received on 1 April 20x2.

iii. Advertising expenses relates to a newspaper advertising contract that runs from 1 July 20x1 to 30 June 20x2.

iv.In March 20x2, the business decided to lease an unused portion of the land and buildings to a web designer. The lease agreement states that rent is payable in advance and in March 20x2, Express Events Ltd received $4,522 rental for the months of April and May 20x2.

v.The Rates invoice for the March 20x2 quarter of $2,100 is yet to be received.

PART A REQUIREMENTS 

a. Prepare a property, plant and equipment schedule for the year ended 31 March 20x2. Hint: you will find the information you need in the unadjusted trial balance and supplementary information. 

b. Express Events Ltd uses the periodic inventory method. From the information provided, calculate the closing value of inventory using the First-In-First-Out method of valuation [see: Worksheet 2 – Inventory]. 

c. Using the schedule prepared in a), the valuation figure prepared in b) and the remaining supplementary information, complete the Adjusted Trial Balance for the year ended 31 March 20x2 [see: Worksheet 1 – Unadjusted Trial Balance]. 

d. Prepare a Statement of Profit or Loss for the year ended 31 March 20x2. 

e. Prepare a Statement of Changes in Equity for the year ended 31 March 20x2. 

f. Prepare a Balance Sheet as at 31 March 20x2. 

g. Prepare the Notes to the Financial statements including Accounting Policies. 

h. Prepare a Statement of Cash Flows (ignoring the impact of GST) using the information provided

This DBA501: Accounting Assignment has been solved by our Accounting 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.