Tutorial solutions2.pdf - ACCY111 Accounting Fundamentals In Society Student Workbook – Tutor Version(with solutions This workbook is designed to

Tutorial solutions2.pdf - ACCY111 Accounting Fundamentals...

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ACCY111: Accounting Fundamentals In Society Student Workbook Tutor Version (with solutions) This workbook is designed to assist students in the completion of weekly activities alongside the ACCY111 topics presented in the eBook found on students’ Moodle site, accessed via . Students are to read each topic in chronological order, and complete the corresponding activities in this workbook and in the case study DogStylez workbook. This workbook has been compiled by Dr Stephanie Perkiss, in the School of Accounting, Economic and Finance, Faculty of Business at the University of Wollongong. Information and questions in this workbook has been extracted from: Current ACCY111 offerings lecture and tutorial materials. With a note of appreciation to Dr Kathy Rudkin and Dr Sanja Pupovac. Hoggett, Edwards, Medlin, Chalmers, Hellmann, Beattie and Maxfield, Accounting 9th Edition, 2015, Wiley. Chwastiak, M. and Young, J. (2003) "Silences in Annual Reports", Critical Perspectives on Accounting , Vol. 14, pp.533-552. And other material where cited.
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Topic 2 Questions Chapter two: Financial statements for Decision making This topic will aid the completion of the financial statements for DogStylez. However, given the nature of the case study, the financial statements will not be completed until after Topic 4. Therefore, remember to keep this work handy when the time comes. Workbook Question (from eBook) WB Question 1: Consider you own a restaurant. List 5 assets and 5 liabilities you think would appear on your balance sheet. Remember to separate according to current and non-current. Current assets Cash, business supplies, inventory, accounts receivable Non-Current assets cooking equipment, truck, building Current Liabilities accounts payable, rent and wages payable, bank loan Non-Current Liabilities mortgage WB Question 2: You are the owner of a restaurant and want to calculate if you made a profit or loss over the last month of trading. During the period your income was $9045. You had the following expenses: rent $350, salary $1350, depreciation of equipment $60, telephone $90, supplies $3420. Checking your bank statement, you realise you also made $320 interest income on your savings. What is the total profit/(loss)?
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