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Review the lecture notes and read the text before attending 3 hours weekly lectures. Work through the chapter examples. Attempt the end of text chapter multiple choice Quick Check questions before class. Read the topic materials in Interact2. Attempt the topic multiple choice, matching, blank space and problem questions. Check the solutions provided. Attempt the assignment questions week by week. Watch the videos on worksheets, the ABC learning case study and inventory systems. Your conscientious attempt at the assignment questions will be
good preparation for the final exam.


The assignments in this subject are designed to assess the subject learning outcomes including your acquired knowledge and skills. Tasks include exercises, problems, discussion questions, questions related to computing skills and business report writing. The assignment tasks are designed, in general, to follow the topics shown on the weekly schedule. Thus, they are structured so as to simulate a pattern of weekly learning. Students are strongly encouraged to
attempt this subject by studying on a regular (weekly) basis and, if possible, to get ahead of the schedule.It is essential in accounting and finance that students work continuously throughout the session.It is in your interest to submit assignments by the due date, noting timely feedback to all Charles Sturt University Subject Outline students requires that assignment deadlines are maintained.


For each assessment task, you are required to complete all questions in the correct sequence and submit all necessary workings. Note the special requirements for the spreadsheet tasks in your assignments (refer to the 'Requirements' section).

                       
Proprietorship Barlett, Drawings; Capital                  
Assets Supplies, Accounts Receivable, Cash, Equipment, Prepaid Insurance                  
Liabilities Long Term Loan Payable, Salary Payable, Accumulated Depreciation, Accounts Payable, Unearned Revenue                  
Expenses Rent Expense, Supplies Expense, Salary Expense, Depreciation Expense, Advertisement Expense, Insurance Expense, Interest Expense                  
Revenue Service Revenue                  
In the books of Greenplace                
Journal Entries                
    Dr. Cr.                
Date Particulars Amount Amount2                
                       
28-04-2017 Supplies $1,200                  
  Accounts Payable   $1,200                
                       
29-04-2017 Rent Expense  $3,500                  
  Cash    $3,500                
                       
30-04-2017 Cash $5,600                  
  Accounts Receivable    $5,600                
                       
                       
  In the books of Greenplace                
  Trial Balance                
  as on 30 April 2017                
    Dr. Cr.                
  Particulars Amount Amount2                
                       
  Rent Expense $5,200                  
  Supplies Expense $1,200                  
  Long Term Loan Payable   $45,000                
  Berlett, Drawings $5,000                  
  Salary Expense $18,600                  
  Salary Payable   $18,400                
  Service Revenue   $65,000                
  Supplies   $4,500                  
  Capital   $29,780                
  Depreciation Expense $9,800                  
  Accounts Receivable $35,500                  
  Cash $20,000                  
  Accumulated Depreciation   $25,200                
  Accounts Payable   $25,800                
  Equipment $1,20,000                  
  Advertising Expense $7,500                  
  Insurance Expense $3,600                  
  Interest Expense $3,880                  
  Prepaid Insurance $8,600                  
  Unearned Revenue   $34,200                
                       
  Total $2,43,380 $2,43,380                
In the books of Greenplace                
Adjustment Entries                
    Dr. Cr.                
Date Particulars Amount Amount2                
                       
30-04-2017 Unearned Revenue  $19,200                  
  Service Revenue    $19,200                
                       
  Depreciation Expense  $12,500                  
  Accumulated Depreciation    $12,500                
                       
  Salary Expense  $3,500                  
  Salary Payable    $3,500                
                       
  Insurance Expense  $6,200                  
  Prepaid Insurance   $6,200                
                       
  Supplies Expense $1,750                  
  Supplies    $1,750                
Dr. Rent Expense A/c. Cr.   Dr. Long Term Loan Payable A/c.
30-04-2017 To, Balance b/d 5200 30-04-2017 By, Balance c/d 5200   30-04-2017 To, Balance c/d 45000 30-04-2017 By, Balance b/d
                       
    5200     5200       45000    
                       
Dr. Supplies Expense A/c. Cr.   Dr. Salary Payable A/c.
30-04-2017 To, Balance b/d 1200 30-04-2017 By, Balance c/d 2950   30-04-2017 To, Balance c/d 21900 30-04-2017 By, Balance b/d
  To, Supplies A/c. 1750                 By, Salary Expense A/c.
    2950     2950       21900    
                       
Dr. Bartlett, Drawings A/c. Cr.   Dr. Service Revenue A/c.
30-04-2017 To, Balance b/d 5000 30-04-2017 By, Balance c/d 5000   30-04-2017 To, Balance c/d 85000 30-04-2017 By, Balance b/d
                      By, Unearned Revenue A/c.
    5000     5000       85000    
                       
Dr. Salary Expense A/c. Cr.   Dr. Capital A/c.
30-04-2017 To, Balance b/d 18600 30-04-2017 By, Balance c/d 22100   30-04-2017 To, Balance c/d 29780 30-04-2017 By, Balance b/d
  To, Salary Payable A/c. 3500                  
    22100     22100       29780    
                       
Dr. Supplies A/c. Cr.   Dr. Accumulated Depreciation A/c.
30-04-2017 To, Balance b/d 4500 30-04-2017 By, Supplies Expense A/c. 1750   30-04-2017 To, Balance c/d 37700 30-04-2017 By, Balance b/d
        By, Balance c/d 2750           By, Depreciation Expense A/c.
    4500     4500       37700    
                       
Dr. Depreciation Expense A/c. Cr.   Dr. Accounts Payable A/c.
30-04-2017 To, Balance b/d 9800 30-04-2017 By, Balance c/d 22300   30-04-2017 To, Balance c/d 25800 30-04-2017 By, Balance b/d
  To, Accumulated Depreciation A/c. 12500                  
    22300     22300       25800    
                       
Dr. Accounts Receivable A/c. Cr.   Dr. Unearned Revenue A/c.
30-04-2017 To, Balance b/d 35500 30-04-2017 By, Balance c/d 35500   30-04-2017 To, Service Revenue A/c. 19200 30-04-2017 By, Balance b/d
                To, Balance c/d 15000    
    35500     35500       34200    
                       
Dr. Cash A/c. Cr.            
30-04-2017 To, Balance b/d 20000 30-04-2017 By, Balance c/d 20000            
                       
    20000     20000            
                       
Dr. Equipment A/c. Cr.            
30-04-2017 To, Balance b/d 120000 30-04-2017 By, Balance c/d 120000            
                       
    120000     120000            
                       
Dr. Advertising Expense A/c. Cr.            
30-04-2017 To, Balance b/d 7500 30-04-2017 By, Balance c/d 7500            
                       
    7500     7500            
                       
Dr. Insurance Expense A/c. Cr.            
30-04-2017 To, Balance b/d 3600 30-04-2017 By, Balance c/d 9800            
  To, Prepaid Insurance A/c. 6200                  
    9800     9800            
                       
Dr. Interest Expense A/c. Cr.            
30-04-2017 To, Balance b/d 3880 30-04-2017 By, Balance c/d 3880            
                       
    3880     3880            
                       
Dr. Prepaid Insurance A/c. Cr.            
30-04-2017 To, Balance b/d 8600 30-04-2017 By, Insurance Expense A/c. 6200            
        By, Balance c/d 2400            
    8600     8600            
DATA TABLE:                      
                       
Particulars Amount                    
                       
Rent Expense $5,200                    
Supplies Expense $1,200                    
Long Term Loan Payable $45,000                    
Berlett, Drawings $5,000                    
Salary Expense $18,600                    
Salary Payable $18,400                    
Service Revenue $65,000                    
Supplies   $4,500                    
Capital $29,780                    
Depreciation Expense $9,800                    
Accounts Receivable $35,500                    
Cash $20,000                    
Accumulated Depreciation $25,200                    
Accounts Payable $25,800                    
Equipment $1,20,000                    
Advertising Expense $7,500                    
Insurance Expense $3,600                    
Interest Expense $3,880                    
Prepaid Insurance $8,600                    
Unearned Revenue $34,200                    
                       
Additional Information:                      
Supplies Consumed within the period $1,750                    
Prepaid insurance expired $6,200                    
Unearned revenue earned $19,200                    
Depreciation charged $12,500                    
Salary due $3,500                    
                       
                       
Adjustment Worksheet:  
  Pre-Adjustment Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet  
Particulars Debit  Credit Debit 2 Credit3 Debit 4 Credit5 Debit 6 Credit7 Debit 8 Credit9  
                       
Rent Expense $5,200   $6,200   $11,400   $11,400        
Supplies Expense $1,200   $1,750   $2,950   $2,950        
Long Term Loan Payable   $45,000       $45,000       $45,000  
Berlett, Drawings $5,000       $5,000       $5,000    
Salary Expense $18,600   $3,500   $22,100   $22,100        
Salary Payable   $18,400   $3,500   $21,900       $21,900  
Service Revenue   $65,000   $19,200   $84,200   $84,200      
Supplies   $4,500     $1,750 $2,750       $2,750    
Capital   $29,780       $29,780       $29,780  
Depreciation Expense $9,800   $12,500   $22,300   $22,300        
Accounts Receivable $35,500       $35,500       $35,500    
Cash $20,000       $20,000       $20,000    
Accumulated Depreciation   $25,200   $12,500   $37,700       $37,700  
Accounts Payable   $25,800       $25,800       $25,800  
Equipment $1,20,000       $1,20,000       $1,20,000    
Advertising Expense $7,500       $7,500   $7,500        
Insurance Expense $3,600       $3,600   $3,600        
Interest Expense $3,880       $3,880   $3,880        
Prepaid Insurance $8,600     $6,200 $2,400       $2,400    
Unearned Revenue   $34,200 $19,200     $15,000       $15,000  
                       
TOTAL $2,43,380 $2,43,380 $43,150 $43,150 $2,59,380 $2,59,380 $73,730 $84,200 $1,85,650 $1,75,180  
Add:Profit             $10,470     $10,470  
GRAND TOTAL $2,43,380 $2,43,380 $43,150 $43,150 $2,59,380 $2,59,380 $84,200 $84,200 $1,85,650 $1,85,650  
Adjustment Worksheet:  
  Pre-Adjustment Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet  
Particulars Debit  Credit Debit 2 Credit3 Debit 4 Credit5 Debit 6 Credit7 Debit 8 Credit9  
                       
Rent Expense $5,200   $6,200   $11,400   $11,400        
Supplies Expense $1,200   $1,750   $2,950   $2,950        
Long Term Loan Payable   $45,000       $45,000       $45,000  
Berlett, Drawings $5,000       $5,000       $5,000    
Salary Expense $18,600   $3,500   $22,100   $22,100        
Salary Payable   $18,400   $3,500   $21,900       $21,900  
Service Revenue   $65,000   $19,200   $84,200   $84,200      
Supplies   $4,500     $1,750 $2,750       $2,750    
Capital   $29,780       $29,780       $29,780  
Depreciation Expense $9,800   $12,500   $22,300   $22,300        
Accounts Receivable $35,500       $35,500       $35,500    
Cash $20,000       $20,000       $20,000    
Accumulated Depreciation   $25,200   $12,500   $37,700       $37,700  
Accounts Payable   $25,800       $25,800       $25,800  
Equipment $1,20,000       $1,20,000       $1,20,000    
Advertising Expense $7,500       $7,500   $7,500        
Insurance Expense $3,600       $3,600   $3,600        
Interest Expense $3,880       $3,880   $3,880        
Prepaid Insurance $8,600     $6,200 $2,400       $2,400    
Unearned Revenue   $34,200 $19,200     $15,000       $15,000  
                       
TOTAL $2,43,380 $2,43,380 $43,150 $43,150 $2,59,380 $2,59,380 $73,730 $84,200 $1,85,650 $1,75,180  
Add:Profit             $10,470     $10,470  
GRAND TOTAL $2,43,380 $2,43,380 $43,150 $43,150 $2,59,380 $2,59,380 $84,200 $84,200 $1,85,650 $1,85,650  
                       
Capital as on 30/4/17 $35,250                    
                       
In the books of Greenplace                    
Balance Sheet                    
As on 30 April,2017                    
                       
Particulars Amount                    
ASSETS:                      
Current Assets:                      
Supplies $2,750                    
Accounts Receivable $35,500                    
Prepaid Insurance $2,400                    
Cash $20,000                    
                       
Total Current Assets $60,650                    
                       
Fixed Assets:                      
Equipment $1,20,000                    
Less: Accumulated Depreciation -$37,700                    
                       
Total Non-Current Assets $82,300                    
                       
TOTAL ASSETS $1,42,950                    
                       
LIABILITIES:                      
Current Liabilities:                      
Salary Payable $21,900                    
Accounts Payable $25,800                    
Unearned Revenue $15,000                    
                       
Total Current Liabilities $62,700                    
                       
NON-CURRENT LIABILITIES:                      
Long Term Loan Payable $45,000                    
                       
Total Non-Current Liabilities $45,000                    
                       
TOTAL LIABILITIES $1,07,700                    
                       
Capital:                      
Capital Balance  $35,250                    
TOTAL CAPITAL $35,250                    
                       
TOTAL LIABILITIES & CAPITAL $1,42,950                    
Particulars Amount                    
                       
Current Assets 60650                    
Current Liabilities 62700                    
                       
Current Ratio 0.967                    
                       
                       
                       
Particulars Amount                    
                       
Total Liabilities 107700                    
Total Assets 142950                    
                       
Debt Ratio 0.753                    
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