Joe Wong is a small restaurant business in Suva. Since Mr. Wong is not highly educated, he still uses manual record keeping system. Due to the recent COVID-19 health measures, the requirements of operating the business is changing rapidly and Mr. Wong is now considering to migrate to a computerized system of record keeping. Please advise Mr. Wong of potential benefits and limitations of both manual and computerized accounting systems with relevant examples. [10 marks]

22. Flowchart symbols are universally recognized across multiple disciplines, and will allow an instructional designer to communicate a great deal of information accurately, efficiently, and succinctly. Draw a flowchart based on the following information: Dial 0, then your friend's number. You will hear a tone. If you have a calling card number, dial your home phone number and the PIN number. If you don't have a calling card number, dial the 800 collect number. When the computer voice asks you to say your name, say your name. Wait for your friend to answer. If you have a calling card number, leave a message on your friend's answering machine. If you don't have a calling card number, hang up. [4 marks]

23. Luke Ltd has made $86,500 (VIP) worth of sales during the period. Of these sales, 24,300 are NOT subject to VAT. Luke Ltd also made $94,000 worth of purchases, all of which are subject to VAT. What are the VAT implications for Company A for the period? Prepare the Journal entry to record the VAT implication. (Assume VAT of 9%) [4 marks]

24. Viti kart limited uses excel to manage its record keeping. Viti Kart has an excel workbook labeled Fixed Assets. In the workbook thereare two sheets:

i) Fixed Assets Items - This sheet has a list of three columns with the headings Fixed Asset Code (A1), Fixed Asset Name (B1) and Fixed Asset Quantity (C1).

ii) Fixed Assets Purchase Price - This sheet has two columns with the headings Fixed Asset Code (A1:A72) and Fixed Asset Purchase Price (B1:B72).

They wish to write a formula that will reference the Item prices from the sheet Fixed Assets Purchase Price based on the Fixed Asset Code in the Fixed Assets Item Sheet. They add a heading to the Fixed Assets Items Sheet in cell D1 and label the heading Price. They wish to enter the formula directly below the heading in cell D2. They will then copy this formula to the other cells in the column to reference the prices of the other items.

Required:

Using VLOOKUP, write the excel formula in cell D2 required to achieve your objective. The formula must be able to be copied to the other cells in the column and reference the correct purchase price.

25. Excel has the "SUMIF" and the "SUMIFS" function. Clearly distinguish between the two important excel functions and provide a suitable example where each of the two functions will be utilized.

26. List the steps to prepare a quote for a customer.