HA2032 Corporate and Financial Accounting Assignment Help
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This assignment aims t o demonstrate an understanding of the role of the Corporations Act, sources of authority, and accounting standards in the governance of companies and requirements for financial reporting, explain the various methods available to companies in their resource expansion and the impact of each on the accounting records and financial statements and critically analyze and interpret the financial statements and other disclosures produced by Australian companies and corporate groups.
HA2032 Tutorial Questions Assignment Help
Week 1 Question (10 marks)
Discuss the advantages of listing a corporation on the stock exchange, such as the ASX? (10 marks)
Week 2 Question (10 marks)
The following data relates to ABC Ltd:
- Profit for the year ended 30 June 20X1, $500,000.
- On 31 March 20X1, the directors decided to pay an interim cash dividend of $100,000.
- On 7 April 20X1, the interim dividend was paid.
- For final dividends, the company’s constitution provides that the directors can recommend a dividend to be subsequently declared by a resolution of the members in a general meeting.
- The directors recommended a final dividend of $250,000 to be paid.
- The shareholders accepted the final dividend at the annual general meeting, and payment was made on 14 September 20X1.
Required:
- Prepare journal entries to record the above dividend payments. (6 marks)
- Prepare the retained profits general ledger account. (4 marks)
Week 3 Question (10 marks)
Adelaide Briton Ltd issued a prospectus on 1 June 20X1 inviting applicants for 3,000 debentures of face amount $2,000, payable in full on application. Terms were 12% p.a. interest, payable annually, with a maturity date of 30 June 20X4. Exactly the right amount of applications were received by 30 June 20X1.
Required:
- Prepare general journal entries to record the issue of debentures. (3 marks)
- Prepare general journal entries to record the payments of interest and the repayment of principal. (3 marks)
- Prepare ledger entries to record (a) and (b) above. (4 marks)
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