I need help with Assignment Part B answers completed in the answer worksheet as soon as possible please!

School of Accountancy 110.109 Introductory Financial Accounting Assignment 2 Booklet Distance Learning Summer School - 2016 THIS MATERIAL IS PROTECTED BY COPYRIGHT AND HAS BEEN COPIED BY AND SOLELY FOR THE EDUCATIONAL PURPOSES OF THE UNIVERSITY UNDER LICENCE. YOU MAY NOT SELL, ALTER OR FURTHER REPRODUCE OR DISTRIBUTE ANY PART OF THIS COURSE PACK/MATERIAL TO ANY OTHER PERSON. WHERE PROVIDED TO YOU IN ELECTRONIC FORMAT, YOU MAY ONLY PRINT FROM IT FOR YOUR OWN PRIVATE STUDY AND RESEARCH. FAILURE TO COMPLY WITH THE TERMS OF THIS WARNING MAY EXPOSE YOU TO LEGAL ACTION FOR COPYRIGHT INFRINGEMENT AND/OR DISCIPLINARY ACTION BY THE UNIVERSITY. ii Contents Page IMPORTANT INFORMATION........................................................................................ 1 ASSIGNMENT 2 DETAILS ............................................................................................ 3 Part A: Accounting Cycle........................................................................................... 3 Part B: Accounting Cycle .......................................................................................... 6 Part C: Current Assets .............................................................................................. 8 iii 1603/110.109 Distance Assignment 2 Booklet IMPORTANT INFORMATION This is an electronic assignment and must be completed in the \"Assignment 2 Part A Answer Booklet\1603/110.109 Assignment 2 Part B Answer Booklet 110109 Assignment 2 - Part B Answer Booklet Cover Sheet Last Name: First Name: Student ID: Mailing Address: Email Address: Contact Number: (Day) (NIGHT) Part B of Assignment 2 contributes 40 marks for this assignment You can find your marks for Part B on the second worksheet in this booklet. This Answer Booklet consists of multiple worksheets: 1 Cover Sheet 2 Marking Summary: your marks for Assignment 2 Part B 3 i: General Journal for Adjusting Entries 4 ii: Worksheet 5 iii to v inclusive: Financial Statements Make certain you have completed the honesty declaration quiz and completed the details above if you wish to have your assignment marked. Do not enter data into the shaded cells. They are for marking purpose only. IMPORTANT: Do not change the format of the templates in any way i.e. do not add or delete rows or columns. There are plenty there. If you need more rows and columns you are completing the assignment incorrectly. However, you can change the format of cells e.g. font. Different versions of Excel may show page splits differently. Please leave them as they are 1503/110.109 Assignment 2 Part B Answer Booklet MARKING SUMMARY - PART B Student Details 0 MAXIMUM MARK Question 1: Jones Ltd i. General Journal for Adjusting Entries ii. Worksheet iii. Statement of Profit or Loss and Comprehensive Income iv.Statement of Changes in Equity v. Statement of Financial Position TOTAL: PART B (OUT OF 40) 14.00 9.00 7.00 1.50 8.50 40.00 Please see suggested solution for more feedback 2 1503/110.109 Assignment 2 Part B Answer Booklet 0 STUDENT MARK 0.00 0.00 0.00 0.00 0.00 0.00 3 General Journal 1603/110.109 Assignment 2 Part B Answer Booklet i General Journal Date Account Titles and Explanation Page 1 Debit ($) Credit ($) Maximum Mark Your Mark 4 General Journal 1603/110.109 General Journal Date Account Titles and Explanation Assignment 2 Part B Answer Booklet Page 2 Debit ($) Credit ($) Maximum Mark Your Mark 5 1603/110.109 General Journal Assignment 2 Part B Answer Booklet 14 0 6 1603/110109 ii Worksheet Assignment 2 Part B Answer Booklet Brianna Ltd - Worksheet for the Year Ended 31 December 2016 Account Title Unadjusted Trial Balance Debit Credit $ $ Adjustments Debit Credit $ $ Adjusted Trial Balance Debit Credit $ $ Income Statement Debit Credit $ $ Balance Sheet Debit Credit $ $ Maximum Mark Your Mark Cash at Bank Accounts Receivable Allowance for Doubt. Debts Inventory Supplies Prepaid Insurance Land Buildings Acc. Depr.Buildings Equipment Acc. Depr. Equipment Accounts Payable Bank Loan Interest Payable Share Capital Retained Earnings Sales Sales Returns & Allowances Cost of Sales Rent expense Sales Expense Insurance Expense Interest Expense Utilities Expense Salaries Expense Depreciation Expense Supplies Expense Subtotals Profit/(Loss) 7 1603/110109 Totals Statements Worksheet Assignment 2 Part B Answer Booklet 9 0 8 1603/110.109 Financial Statements Assignment 2 Part B Answer Booklet iii Brianna Ltd Statement of Profit or Loss and Comprehensive Income For the year ending 31 December 2016 $ Maximum Mark Your Mark $ 7 0 iv 9 1603/110.109 Financial Statements Assignment 2 Part B Answer Booklet Use example Figure 10.12 pp 611-612 excluding the notes and reserves columns Brianna Ltd Statement of Changes in Equity For the year ending 31 December 2016 1.5 0 v 10 1603/110.109 Financial Statements Brianna Ltd Statement of Financial Position as at 31 December 2016 $ Assignment 2 Part B Answer Booklet Maximum Mark $ Your Mark $ 8.5 0 11