BSB110: ACCOUNTING_x000D_
SEMESTER ONE 2015_x000D_
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ASSESSMENT ITEM NUMBER 1: DECISION MAKING IN ACCOUNTING Part B_x000D_
Weighting Total: 10%_x000D_
Due Date and Time: 5pm – Friday 15th May 2015_x000D_
Submission Requirements: You must submit to Assignment Minder:_x000D_
• Your Assignment Cover sheet,_x000D_
• The CRA Sheet_x000D_
• The following reports from Reckon Accounting Software_x000D_
 Adjusting Journal Entry Report_x000D_
 Adjusted Trial Balance_x000D_
 Profit and Loss Statement_x000D_
 Balance Sheet_x000D_
 Please make sure that your Name and student number are included in the reports generated by Reckon (they may not be written on afterwards)_x000D_
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Group or Individual: Individual_x000D_
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This assessment item assesses the following learning outcomes:_x000D_
Knowledge and Technological Skills (KS)_x000D_
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines_x000D_
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts._x000D_
The following is information at the 30th April for Eclipse Marketing. Eclipse Marketing uses the accounting software Reckon to maintain its financial records._x000D_
Unadjusted Balance_x000D_
Debit Credit_x000D_
Cash at Bank Account 32,492.00_x000D_
Accounts receivable 43,978.00_x000D_
Prepaid Insurance 1,140.00_x000D_
Office Supplies Inventory 1,520.00_x000D_
Computer Equipment:Original Cost 18,160.00_x000D_
Computer Equipment:Accumulated Depn – Comp Equip 11,929.00_x000D_
Office Equipment:Original Cost 24,600.00_x000D_
Office Equipment:Accumulated Depn – Office Equip 16,250.00_x000D_
Accounts Payable 4,280.90_x000D_
GST Clearing 0.00_x000D_
Unearned Revenue 8,700.00_x000D_
Wages Payable 0.00_x000D_
PAYG Withholding 1,507.00_x000D_
Loan Payable – Current 3,023.00_x000D_
Tax payable 4,463.10_x000D_
Loan Payable – Non Current 12,922.00_x000D_
Capital 31,507.00_x000D_
Drawings 1,000.00_x000D_
Uncategorised Income 0.00_x000D_
Fees Revenue 42,800.00_x000D_
Uncategorised Expenses 0.00_x000D_
Wages Expense 9,070.00_x000D_
Staff Training Expense 660.00_x000D_
Rent Expense 2,750.00_x000D_
Interest expense 105.00_x000D_
Storage fees 400.00_x000D_
Wages 1,507.00_x000D_
137,382.00 137,382.00_x000D_
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Further information_x000D_
• As at 30th April, Craig had performed $8,000 of services relating to a new client whoCraig received cash from earlier in April and processed the receipt in Reckon as well as recording the GST._x000D_
• April 30Prepared a quote for a new customer for marketing services, Quote number Quote 240 for $2,200 (including GST $200)._x000D_
• April30 Placed an order for Office Supplies of $440 (including GST $40). The goods and invoice do not arrive until 5 May 2015._x000D_
• April30 The CEO of a large mining company telephoned the CFO of Eclipse Marketing Craig Allison to advise him of the company’s intention to transfer their marketing business to Eclipse Marketing. Annual marketing costs of the mining company last year were $20,000._x000D_
• Craig prepaid 12 months of insurance on April 1._x000D_
• April30 Hired a new staff member whose annual salary is $40,000 and who will commence work on May 10._x000D_
• Wages owing as at 30th April are $2,090._x000D_
• April30 Agreed to rent new premises from July 1 2015 with an annual rent of $30,000._x000D_
• Depreciation on Office Equipment is calculated using the Straight Line Method over 5 years with $0 estimated residual value. Round the amount of depreciation to the nearest whole dollar.Note that the calculation is for 1 month only (i.e. April depreciation)._x000D_
• Depreciation on Computer Equipment is calculated using the Straight Line Method over 4 years with $0 estimated residual value. Round the amount of depreciation to the nearest whole dollar.Note that the calculation is for 1 month only (i.e. April depreciation)._x000D_
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Required:_x000D_
Using the above information you are required to make the appropriate adjusting entries in Reckon and to prepare and print from Reckon the Adjusting Journal Entries, the Adjusted Trial Balance, the Income Statement and Balance Sheet for Eclipse Marketing for the month of April 2015._x000D_
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