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BSBFIA401 :Prepare Financial Reports

Pages11
BSBFIA401 Prepare Financial Re ...

Answer: Accounting principle Describe and state when used Double – entry bookkeeping principles Double entry of bookkeeping accounting system states that each trans ...

Course

BSBFIA401

Type

sample

University

Victoria University

Pages5
BSBFIA401 Prepare Financial Re ...

Answer: Occupational Health & Safety Act 2004 (Vic) / WHS Codes of practice: The main objective of this Act is to form a legal framework to revoke the Occupational Health and Safety Act 1985 ...

Course

BSBFIA401

Type

sample

University

Victoria University

Pages8
BSBFIA401 Prepare Financial Re ...

Answer: Financial Accounting is a method by which an organisation and its accountants prepare the financial statements and analyses it to get useful information about the organization. It tells abo ...

Course

BSBFIA401

Type

sample

University

Victoria University

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More BSBFIA401 Prepare Financial Reports: Questions & Answers

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BSBFIA401 Prepare Financial Reports

Task: On December 31, 2017, Jim Jones purchased a Machine on credit for $330,000 ($300,000 +$30,000 GST). It had an expected useful life of four years and an expected residual of $22,000 ($20,000 + $2,000GST)Requireda) Using the Straight line method of depreciation, complete the depreciation worksheet for the financial years ended June 30, 2018, 2019, 2020, 2021, 2022.b) Jim Jones has decided to ...

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BSBFIA401 Prepare Financial Reports

On December 31, 2017, Jim Jones purchased a Machine on credit for $330,000 ($300,000 + $30,000 GST). It had an expected useful life of four years and an expected residual of $22,000 ($20,000 + $2,000GST) Required a) Using the Straight line method of depreciation, complete the depreciation worksheet for the financial years ended June 30, 2018, 2019, 2020, 2021, 2022.  b) Jim Jones has decided ...

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BSBFIA401 Prepare Financial Reports

Task: Prepare General Journal entries for the month of June 2018 for the following unrelated situations. Required: a) Stationery of $6,820 ($6,200 + $620 GST) purchased on credit from Total Office Pty Ltd, incorrectly debited to Inventory. GST was correctly recorded.b) A payment for $1,320 ($1,200 + $120 GST) was posted to the Advertising account instead of the Telephone account. The GST was ...

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BSBFIA401 Prepare Financial Reports

Accurate Steel Pty Ltd maintains inventory on a perpetual basis and advises you of the following: The following adjustments are required to be completed for the year ended 30 June 2018  Further Bad debt of $2,000 + GST $0 (exempt from GST) to be written off.  Allowance (Provision) for doubtful debts to be increased to 5% of Accounts Receivable balance.  Annual insurance premium of $3,600 ...

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