TFA_Final_Exam_Deferred.docx - DEFERRED EXAM u2013 SPRING...

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DEFERRED EXAM – SPRING, 2020 School of Business STUDENT SURNAME: QURBANI STUDENT FIRST NAME: HAFIZULLA STUDENT ID: 19025070 EXAM INSTRUCTIONS Read all the information below and follow any instructions carefully before proceeding. You must save this document, and submit into the ‘Submit Deferred Exam to Turnitin’, located in Final Exam, in the Assessment Zone. UNIT NAME: Techniques in Financial Accounting UNIT NUMBER: 200973 NUMBER OF QUESTIONS: 4 VALUE OF QUESTIONS: 4 Exam questions, giving a total of 100 marks. ANSWERING QUESTIONS: Answer all questions on the exam paper itself. UNIT COORDINATOR: Stanley James TIME ALLOWED: 2 hours (and 15mins) TOTAL PAGES: 17 RESOURCES ALLOWED Only the resources listed below are allowed in this exam. Any calculator which has the primary function of a calculator is allowed. Calculators on mobile phones or similar electronic devices are not allowed. Two A4 blank pages and a pen/pencil for working purpose. Deferred Exam Spring, 2020 Page 1 of 16
PLEASE ANSWER YOUR QUESTIONS WITHIN THIS DOCUMENT AND ENSURE TO SAVE FREQUENTLY. Question 1 (30 Marks) Pragmatic Designs Pty Ltd provides consulting services to the finance industry. The unadjusted trial balance on 30 June 2020 below was prepared by the accountant. The following additional information is available at 30 June: 1. Unused office supplies on hand on 30 June 2020 totalled $170. 2. The Unearned Fees account includes $825 received for fees earned during June. 3. Office Equipment has a useful life of ten years with no residual value. No additions or disposals were recorded during the year. 4. Advertising costing $725 was consumed during the year. 5. Accrued rent of $3,000 for the month of June 6. Salaries earned by employees but unpaid as at 30 June 2020 totalled $6 500. PRAGMATIC DESIGNS PTY LTD Unadjusted Trial Balance as at 30 June 2020 Account Debit Credit Cash at bank Accounts receivable GST receivable Prepaid advertising Office supplies Office equipment Accumulated depreciation Accounts payable Unearned fees GST payable Share Capital Retained Earnings Consulting fee revenue Rent expense Salaries expense Telephone expense $ 15 060 14 230 1 470 2 120 750 34 620 22 240 72 500 2 120 $ 2 280 10 670 2 580 2 720 30 000 16 240 100 620 $165 110 $165 110 Required: A. Prepare a 10-column worksheet for the year ended 30 June 2020. (15 marks)

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