Accounting

Accounting MNGT5211 Semester 1, 2012 Assignment Due: Week 11 class; Submission: fag copy in class head One (36 per cent) You be providing pecuniary advice to the precaution of Brisbane Ltd, a infinitesimal wholesaler of electronic components fit(p) nearly the Brisbanes central backup district. The firm is considering how best to finance the purchase of some special equipment and has asked your opinion. They provided a closing equilibrise sheet as at 30th June 2012, an income bid for the final exam quarter of the financial category (March to June 2012) and a comp give describe of all the transactions that had occurred in the month of July 2012. The transactions are as follows: 1. compensable compensation outstanding at the abolish of June. 2. Made credit gross gross revenue of $627,000. (The cost of those goods sold was $375,000). 3. remunerative $510,000 to creditors. 4. Purchased $240,000 inventory on credit. 5. compensable cash for annual insurance insurance policy premium of $252,000 (12 month policy commencing 1 August 2012). 6. trus twainrthy $840,000 from debtors. 7. Made cash sales totalling $135,000. (The cost of those goods sold was $96,000). 8.

gainful $45,000 off the directors loan (The loan is occasion free). 9. compensable the first of two equal instalments on the rate liability. 10. Incurred wages expense of $93,000 for July. 11. gainful rent for August of $72,000. (Rent is payable periodic in advance) 12. Paid administrative expenses, incurred during the month, of $63,000. 13. Received notification that Noosa Ltd has gone bankrupt this is a debtor whose balance is $39,000. 14. aft(prenominal) penning off Noosa Ltds balance, management decide to precipitate the formulation to $54,000. 15. Depreciation is calculated monthly as 15 per cent per annum for motor vehicles and 20 per cent per annum for plant and equipment, establish on cost. 16....If you want to get a full essay, hallow it on our website: Orderessay

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