dUse the following information for Western Packaging Pty Ltd to:

a) Asset Register Card for the Wrapping Machine.

b) Record the Capital Cost of the Wrapping Machine as an opening balance in the Machinery General Ledger account as at 31 March 2017.

c) Prepare post the General Journal Entries to record the Depreciation of the Wrapping Machine for the years ended 30 June 2017, 2018 and 2019.

d) Prepare post General Journal Entries to record the Disposal of the Wrapping Machine

.all Optus AU 22:32 1 4% Close BSBFIA401 Assessment Task 02 PDF - 121 KB 2 of 7 CROWN Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888 Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888 FROM POSSBILITY10 ACTUALITY Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184 (a) Asset Register Card Description: Estimated Residual: Asset ID: Depreciation method: Location: Depreciation rate: Supplier: Estimated useful life: Original Total Written Date Details capital capital down cost cost Depreciation value $ $ $ Annual Accumulated BSBFIA401 Assessment Task 02 v1.4 Page 2 of 7 Email Save CROWN Crown Institute of Business and Tecrmology rty ctu nowv ou 10 010 412 national rrovider ivo. 91371 CRICOS Provider Code: 02870D North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888 Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888.uil Optus AU 12:25 7 100% 351.pdf O CROWN Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888 Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888 FROM POSSIBILITY TO ACTUALITY Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184 Repairs and Maintenance Date Service provider Details of work Cost provided 3 Disposal Details Date Details of disposal Cost $ (b) Machinery General Ledger Wrapping Machine Date Deta $ Date Deta $ BSBFIA401 Assessment Task 02 v1.4 Page 3 of 7 O.uil Optus AU - 12:25 7 100% 351.pdf O CROWN Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888 Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888 FROM POSSIBILITY TO ACTUALITY Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184 (d) General Journal Entries to record the Disposal of the Wrapping Machine. Date Deta Debit ($) Credit ($) 30/09/2019 5 BSBFIA401 Assessment Task 02 v1.4 Page 5 of 7 OOutlook all - 12:20 7 100% 351.pdf C O L CROWN Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888 Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888 FROM POSSIBILITY TO ACTUALITY Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184 BSBFIA401 Prepare Financial Reports Assessment Task 02 - Case Study Question 01: Use the following information for Western Packaging Pty Ltd to: a) Complete an Asset Register Card for the Wrapping Machine. b) Record the Capital Cost of the Wrapping Machine as an opening balance in the Machinery General Ledger account as at 31 March 2017. c) Prepare and post the General Journal Entries to record the Depreciation of the Wrapping Machine for the years ended 30 June 2017, 2018 and 2019. d) Prepare and post General Journal Entries to record the Disposal of the Wrapping Machine. On 31 March 2017, Western Packaging purchased a Wrapping Machine, serial number VMM06JKTR0460275, from Mills Machinery Ltd. The machine is located in Factory 4. The total purchase price including GST was $110,000. The residual value for the Wrapping Machine is estimated to be $15, 000. The expected useful life of the machine is 15 years. At the date of purchase, costs incurred including GST were: Insurance $1,540 Freight charges $660 Repair of damage in transit $462 Further costs incurred during installation and testing totaled $2,508 including GST. These costs are not of a recurring nature. Depreciation on the machine is to be 10 per cent using the reducing-balance method (rounded to the nearest whole dollar). On 30 September 2019 the company decided to trade in the machine for $82,500 including GST on an upgraded machine with a total capital cost of $137,500 including GST. The balance owing was paid by cheque number 102374. BSBFIA401 Assessment Task 02 v1.4 Page 1 of 7 Pg O.uil Optus AU 12:25 7 100% 351.pdf O CROWN Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D . ( * North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888 Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888 FROM POSSIBLITY TO ACTUALIT Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184 (c) General Journal Entries to record the Depreciation of the Wrapping Machine for the years ended 30 June 2017, 2018 and 2019 Date Details Debit ($) Credit ($) 30/06/2017 30/06/2018 4 30/06/2019 BSBFIA401 Assessment Task 02 v1.4 Page 4 of 7 O