Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.5 Prepare the general ournal entries to record the transactions in Atlas Ltd. On the following dates: 1.5.1 02 January 2023 1.5.2 01 May 2023

image text in transcribed

image text in transcribed

image text in transcribed

1.5 Prepare the general ournal entries to record the transactions in Atlas Ltd. On the following dates: 1.5.1 02 January 2023 1.5.2 01 May 2023 1.5.3 30 June 2023 1.5 .410 July 2023 Format to use: ( 42 marks ) Read the fictitious case study provided below and answer Question 5.1 and Question 5.2 that follow: You are the Ethics Champion of the South African branch of a prominent global IT organisation, with its headquarters based in Sacramento, California. You are required to conduct a virtual presentation to the latest cohort of new recruits employed by your organisation. In your presentation you are required to address the issue of corporate citizenship. *Fictitious case study. 5.1 Investigate the concept of corporate citizenship. (20 marks) 5.2 Identify two (2) global organisations that are considered to engage in good corporate citizenship practices, and two (2) global organisations that are considered to engage in poor corporate citizenship practices. You are required to provide relevant motivations to substantiate your answer. (5 marks) Atlas Ltd., a South African company, specialises in importing and distributing hightech machinery components for the manufacturing sector. The company sources these components from a renowned American supplier and sells them to various manufacturers across South Africa. Atlas Ltd.'s financial year-end is 30 June. On 02 January 2023, Atlas Ltd. made a deposit of R100 000 to secure the purchase of machinery components valued at R500 000 . These components are crucial to Atlas Ltd.'s inventory and are highly sought after by their clientele. The terms of the sale are FOB (Free on Board) shipping point. The inventory was loaded onto a boat on 01 May 2023, and its expected arrival at the Cape Town harbour was on 30 June 2023. On 25 June 2023, the machinery components arrived at the Cape Town harbour without any issues. However, Atlas Ltd.'s warehouse is located in Johannesburg. Thus, it required an additional 5 days to transfer the inventory from the harbour to the warehouse, where it would then be ready for sale. On 30 June 2023, the machinery components were delivered to and received by the

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Why do bond prices go down when interest rates go up?

Answered: 1 week ago

Question

=+ (b) Find an example in which A ,, ! A, u( A ,, ) = 00, and A = .

Answered: 1 week ago