Edmund Pty Ltd Case Study - Accounting and Finance Assignment Help

Assignment Task :

Instructions: 

1. Students should limit their answers to 1500 

2. It will consist of three (3) parts. 

3. The marks that are allocated for each part are indicated at the start of each part. 

4. Students must show all calculations and reasons for their answers. 

5. Students must complete the standard title page for assignments and submit this with their answer but this will not count towards the word limit. 

6. You are not permitted to: 

   1. Copy any part of your work from anyone else or 

   2. Allow anyone else to copy any part of your work or 

   3. Obtain assistance by improper means or 

   4. Ask for help from any other person or 

   5. Give help to any other person. 

SECTION A 

Newsletter Title

Baldrick bought an investment property on 1 July 2018 for $2,000,000.  He rented out his property from 1 July 2018.  He borrowed $1,800,000 on the same day from the bank to buy the property.  The term of the loan was 8 years.  The building was originally constructed in 2001 at a cost of $900,000.  He received rent in cash from his tenants during the year ended 30 June 2019 in the amount of $93,000.  Included in this amount was a payment of $9,000 on 30 June 2019 as rent for the month of July 2019. 

Baldrick incurred the following expenses during the year ended 30 June 2019 in relation to the property: 

• State Government Land Tax $22,500 

• Loan Repayments ($52,000 principal and $130,000 interest) $182,000

•  Real Estate Agent’s fee to evict a tenant for non-payment of rent $2,300 

• The front window was badly damaged at the time of acquisition and replaced on 4 July 2018 $2,800 

SECTION B  

Edmund Pty Ltd (an Australian resident private company) is wholly owned by Melchett Pty Ltd, another Australian resident private company.  All the shares in Melchett Pty Ltd are owned by George, an Australian resident. 

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