$

$

Cashat bank

18,285

Pettycash

1,500

AccountsReceivable

51,385

Inventory(atcost)

48,500

Land&Buildings(atdirector'svaluation2014)

785,000

Plant &Equipment(atcost)

286,350

Investments(atmarketvalue)

52,635

Goodwill(atcost)

28,700

Trademarks(atcost)

25,200

DeferredTax asset

6,900

Allowancefordoubtfuldebts

1,350

AccountsPayable

24,910

AccruedExpenses

4,655

Accumulateddepreciation-Buildings

39,650

Accumulateddepreciation- Plant&Equipment

79,420

Accumulatedimpairment-Goodwill

11,700

TaxationPayable

26,255

DeferredTax liability

3,100

Mortgage

210,000

ProvisionforLongServiceLeave

13,600

General Reserve

100,000

AssetRevaluationReserve

35,000

Share Capital

650,000

RetainedEarnings

104,815

1,304,455

1,304,455

Additionalinformation:

Investmentsare sharesin companieslistedonthe AustralianStockExchange.

Themortgage,securedbyland&buildings,isduetoberepaidinthreeequal instalments,dueon30June eachyear.

Landwasrevaluedby the directorson30 June 2016 to $420,000.

Buildingswererevaluedby the directorson30 June 2016 to $365,000.

Longserviceleavepayable withinthe next twelvemonthsis$3,100.

Required:

a)Prepare the Statement Of Financial Position forRedExcitementLtdasat 30 June 2016, using the template provided in Microsoft Excel (FNSACC514_AT3_TMP_Q2&3_TQM_V1).

b)Prepare thenotesforthe Non-CurrentAssetsandthe Current Liabilities sectionsONLYofthe balance sheet.

c)Create and submit 2 charts (using 2 different chart types).One will summarise Total Assets, and the second chart will summarise Total Liabilities.

Red Excitement Ltd's Policy and Procedures Manual requires the use of provided templates.

Extract of Notes to Balance Sheet

NON-CURRENTASSETS

Note 11Property, Plant&Equipment

Note 12Availablefor Saleinvestments

Note 13Goodwill

Note 14 OtherIntangibleassets

Note 15Deferred Taxassets

CURRENTLIABILITIES

Note 16Trade& Otherpayables

Note 17CurrentportionofLongTermborrowings

Note 18CurrentTaxliabilities

Note 19ShortTermprovisions

Note 20Other Currentliabilities

Statement of Financial Position of Red Excitement Ltd as at 30 June 2016 Notes $ Current Assets Cash and Cash equivalents Trade and other receivables Inventories Total Current Assets Non-Current Assets Property, Plant & Equipment Available for Sale investments Goodwill Other Intangibles Deferred Tax assets Total Non-Current Assets Total Assets Current Liabilities Trade & other payables Current portion of Long Term borrowing Current tax liabilities Short Term provisions Other current liabilities Total Current liabilities Non-Current Liabilities Long Term borrowings Long Term provisions Total Non-Current Liabilities Total Liabilities Net Assets Owners Equity Capital Reserves Retained Earnings Total Owners Equity *Prior year compariative figures are NOT required. 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 $ Condolidations Worksheet 30 June 2016 Eliminations Sales Less Cost of Sales Inventory 01/07/2015 Purchases Inventory 30/06/2016 Cost of Goods Sold Gross Profit Legal fees received Gain on sale of plant Dividends received Interest received from Book Ltd Less: Expenses - selling expenses - Admin expenses - Financial expenses Operating profit before tax Less tax expense Profit after tax Retained earnings 01/07/2015 Available for appropriation Appropriations Interim dividend paid Final dividend declared Total appropriations Retained earnings 30/06/2016 Share capital Loan from Rule Ltd Accounts payable Dividends payable Taxation Payable Property, plant & equipment (net) Shares in Book Ltd Loan to Book Ltd Other non-current assets Inventory Other current assets Goodwill on consolidation Rule Ltd 1,485,000 Book Ltd 825,000 120,000 625,000 745,000 115,000 630,000 855,000 8,000 52,000 313,000 365,000 49,000 316,000 509,000 Dr Cr 3,500 30,500 10,000 903,500 80,000 291,500 52,000 423,500 480,000 144,000 336,000 588,000 924,000 80,000 140,000 220,000 704,000 2,000,000 72,000 140,000 94,000 3,010,000 732,000 1,500,000 100,000 335,000 115,000 228,000 3,010,000 512,500 35,500 314,000 8,000 357,500 155,000 46,500 108,500 421,500 530,000 14,000 20,000 34,000 496,000 1,100,000 100,000 36,000 20,000 25,000 1,777,000 900,000 650,000 49,000 178,000 1,777,000 - - Consolidated Accounts