I am confused about questions xi, xii, xiii in problem 2, can you please help? thank you

Corporate Reporting (ACC2CRE) Group Case Study 20% Due date: Friday (5.00pm), 8 September, 2017 1. The assignment is a compulsory group assignment and is worth 20% of the total marks of the subject. 2. The group should be comprised of four (4) students. It is the responsibility of students to form the groups. Only one copy of the group assignment must be submitted on behalf of the group by one of the group members. 3. You must keep a copy of your assignment (in hard copy form) until you receive the marked original back. If your assignment is lost and you fail to provide us with a copy of the assignment when requested, we will assume the assignment was not written and the penalties for late assignment will be applied. 4. The assignment must be presented in a professional manner (word processed). 5. Submissions must be properly referenced (Harvard referencing style). 6. Plagiarism is a serious matter; all students involved will be referred to the University's appropriate authority. 7. Late submission will incur a penalty of one mark per day including the weekend. Late submission must be lodged with Course Coordinator only. 8. Application for extensions must be lodged with the Subject Coordinator before due date in writing for granting an extension (medical problems etc.). 9. Assignment must be submitted through the LMS. Note 1: Word limit 2,000. 1 Question 1 (50 Marks) (Word Limit = 1000 words) Wild and van Staden (2013, p. 6) argue that stand-alone reports relevant to social and environmental activities are non-integrated. Therefore, they are not capable to evaluate business performance, strategy and potential for value creation for different types of stakeholders (cited in Bernardi, 2015). Integrated reporting evolves due to response to this criticism (Bernardi, 2015). Required: Critically discuss the above statement and briefly explain the role of integrated reporting by identifying the problems associated with tradition financial reporting. Choose a company listed on the ASX and identify whether the company prepare integrated reporting or not? References: Bernardi, C. 2015. The transparency of environmental, social and governance disclosures, integrated reporting, and the accuracy of analyst forecasts, Working paper. (available at: https://www.business.uq.edu.au/sites/default/files/events/files/bernardi_and_stark_i_augu st_2015_final.pdf). Wild, S. and van Staden, C. 2013. Integrated Reporting: initial analysis of early reporters - An institutional theory approach', paper presented at the 7th Asia Pacific Interdisciplinary Research in Accounting Conference, 26-28 July, Kobe, Japan. Note 1: Word limit for Question 1 is 1,000. Note 2: Professional marks will be awarded for format, clarity and expression. Note 3: The presentation of Question 1 should include Introduction, Discussion, Conclusion and List of references. Note 4: You will be able to obtain electronic copies of articles by visiting La Trobe University Library website. 2 Question 2 (50 Marks) (Word Limit = 1000 words) At the end of its financial year, Roxy Ltd. took the following information from its accounting books of record. Trial Balance as at 30 June, 2017 Land Buildings Vehicle Accumulated depreciation- buildings Accumulated depreciation- vehicles Investments Cash at Bank Accounts receivables Inventory Share capital Calls in advance Retained earnings*** Mortgage payable on land and buildings Bank overdraft Accounts payable Sales revenue Interest on investments Rent revenue Cost of sales Selling Commission expense Delivery expense Salaries: Travellers Salaries: Administration Directors fees Audit fees Interest on mortgage Damage due to fire General expenses Debit Credit AUD $ AUD $ 10,200,000 40,000,000 2,500,000 4,000,000 500,000 35,000,000 1,000,000 4,495,000 21,500,000 67,000,000 2,000,000 2,600,000 20,000,000 7,500,000 2,000,000 24,000,000 1,000,000 750,000 11,000,000 100,000 200,000 450,000 2,000,000 200,000 90,000 1,000,000 150,000 1,465,000 $131,350,000 $131,350,000 *** Note: Retained earnings is after deducting last year's final dividend of $2,500,000 and an interim dividends for this year of $1,500,000. Additional Information i. Depreciation on vehicles at the rate of 10% p.a. and on buildings at the rate of 5% p.a. for the whole year ii. The allowance for doubtful debts at 30 June 2017 is estimated to be $160,000 iii. Unrecorded and unpaid travellers' salaries amount to $100,000 vi Prepaid general expenses amount to $15,000 3 v. Income tax provided for totals $3,504,000 vi A final dividend is recommended for a total of $2,500,000 vii. $1,000,000 is to be transferred to a general reserve viii. Land is revalued to its fair value of $11,000,000 ix.. Roxy Ltd pays income tax at the rate of 30%. x. On 21st June 2017, Roxy Ltd was notified of an impending legal suit for $17,000 against the company for breach of contract. The case was settled 15 th July 2017 xi. The share capital consists of 67,000,000 ordinary shares of $1 each xii. On 20 September 2017, Roxy Ltd issued 100,000 fully paid shares to acquire the net assets of ABC Pty Ltd at price of $2.5 per share. xiii. On 28 July 2017 the Commonwealth government enacts legislation altering the company income tax rate from 39 per cent to 42 per cent for all income tax returns from 1 July 2017 Required: 1 Prepare necessary adjusting journal entries for the above events. 2 Prepare a Statement of Comprehensive Income, a Statement of Financial Position and a Statement of Changes in Equity for ROXY Ltd for the year ended 30 th June 2017 in accordance with the requirements of AASB 101. 3) Prepare at least fifteen (15) notes to the financial statements according to the relevant accounting standards. 4