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SBM 3105 Foundations Of Accounting

tag 0 Download 2 Pages / 372 Words tag 24-06-2021

Question:

You are provided with the business transactions of Violet Chan Consultancy Pty Ltd. You need to produce the financial reports for the year ending 2017. You are required to form a group (not more than THREE members in a group). In case you can’t find a partner to form a group the task can be done by an individual.Before you start the assignment, you must email to your lecturer and CC: to all other group members the following information:

Upon receipt of your email your lecturer will confirm which Assignment Practice Set you will use to
complete the assignment.The following business transactions and business events relate to Violet Chan’s Consultancy Pty Ltd.You are required the complete 6 (six) tasks using the following information.
Transaction of June 2017
1 June Violet contributed $15 000 in her business given to her by her Aunt Kate.
4 June Purchased new computer for her business $1200 on credit
5 June Received $500 for services rendered
6 June Paid office rent $400
7 June Negotiated with Olivia possible casual employment contracts totalling $1500
8 June Aunt Kate injected a further $2000 gift into Violet’s business
9 June Billed a client $500 for services rendered
10 June Received an invoice for new reception desk $3400
11 June Paid salary $1500
15 June Paid telephone bill $65
16 June Sent a quote for a large prospective job $4800
16 June Paid office cleaning bill $231
20 June Paid office rent $400
23 June Received $250 for consultation work completed
24 June Sent invoice for service rendered for $4800
26 June Paid salary $1500
28 June Paid in full for the reception desk bought on 10 June 2013
30 June Paid for advertising $200.
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