no handwritten. i'll upvote immediately
7:17 Inbox Accounting Homework adjustment for depreciation had not been made. page 307 Exercise 16.6 w Reporting depreciation Wayne's Fountains sells fountains and other garden ornaments. Its assets and equities as at 1 October 2024 were as follows: $ Assets Stock Accounts Receivable WAYNE'S FOUNTAINS Assets and Equities as at 1 October 2024 $ $ Equities 127000 Bank overdraft 4900 Accounts Payable 265000 GST payable 120000 145000 Capital - Wayne 276900 Total Equities $ 2800 64000 2700 207400 276900 Premises less Accum. depreciation Total Assets The business has provided the following information for the year ending 30 September 2025 Sales Journal Account Receivable TOTALS Date Total Accounts Receivable Inv. No. $ Sales 18000 GST 1 800 19 800 Purchases Journal Date Account Payable TOTALS Inv. No. $ GST Stock 16000 Total Accounts Payable 17600 1600 Cash Receipts Journal Accounts Bank Receivable Rec. No. Sales GST Date Sept. Details Loan - FIX Finance TOTALS Sundries 20000 20000 $ 97100 21000 51 000 5 100 Cash Payments Journal Accounts Bank Payable Drawings Date Doc. Wages GST Sundries 6300 4000 Details Electricity Advertising Insurance GST Clearing TOTALS 2400 2700 15400 89 270 14 100 26000 32 500 1270 Additional information: The premises are depreciated at a rate of 5% p.a. Due to effective inventory management techniques, both the inventory cards and the physical count as at 30 September 2025 showed $124000 Inventory on hand. Cost of Sales for the year was $19000. The Principal of the loan - FIX Finance is due to be repaid in monthly instalments of $500. Required a Referring to one Accounting assumption, explain the purpose of making balance day adjustments. b Calculate Depreciation of Premises for the year ending 30 September 2025. c Prepare a Cash Flow Statement for Wayne's Fountains for the year ending 30 September 2025. d Prepare an Income Statement for Wayne's Fountains for the year ending 30 September 2025. e State three reasons why Wayne's Fountains was able to generate a Net Cash inflow despite incurring a Net Loss for the year ending 30 September 2025. f Calculate the following balances as at 30 September 2025: Accounts Receivable Accounts Payable GST payable. a Prepare a classified Balance Sheet for Wayne's Fountains as at 30 September 2025 h Calculate Asset Turnover and Return on Assets for Wayne's Fountains. Comment on the performance of Wayne's Fountains given that last year's ATO was 0.86 times and ROA of 5%. 5 7:17 Inbox Accounting Homework adjustment for depreciation had not been made. page 307 Exercise 16.6 w Reporting depreciation Wayne's Fountains sells fountains and other garden ornaments. Its assets and equities as at 1 October 2024 were as follows: $ Assets Stock Accounts Receivable WAYNE'S FOUNTAINS Assets and Equities as at 1 October 2024 $ $ Equities 127000 Bank overdraft 4900 Accounts Payable 265000 GST payable 120000 145000 Capital - Wayne 276900 Total Equities $ 2800 64000 2700 207400 276900 Premises less Accum. depreciation Total Assets The business has provided the following information for the year ending 30 September 2025 Sales Journal Account Receivable TOTALS Date Total Accounts Receivable Inv. No. $ Sales 18000 GST 1 800 19 800 Purchases Journal Date Account Payable TOTALS Inv. No. $ GST Stock 16000 Total Accounts Payable 17600 1600 Cash Receipts Journal Accounts Bank Receivable Rec. No. Sales GST Date Sept. Details Loan - FIX Finance TOTALS Sundries 20000 20000 $ 97100 21000 51 000 5 100 Cash Payments Journal Accounts Bank Payable Drawings Date Doc. Wages GST Sundries 6300 4000 Details Electricity Advertising Insurance GST Clearing TOTALS 2400 2700 15400 89 270 14 100 26000 32 500 1270 Additional information: The premises are depreciated at a rate of 5% p.a. Due to effective inventory management techniques, both the inventory cards and the physical count as at 30 September 2025 showed $124000 Inventory on hand. Cost of Sales for the year was $19000. The Principal of the loan - FIX Finance is due to be repaid in monthly instalments of $500. Required a Referring to one Accounting assumption, explain the purpose of making balance day adjustments. b Calculate Depreciation of Premises for the year ending 30 September 2025. c Prepare a Cash Flow Statement for Wayne's Fountains for the year ending 30 September 2025. d Prepare an Income Statement for Wayne's Fountains for the year ending 30 September 2025. e State three reasons why Wayne's Fountains was able to generate a Net Cash inflow despite incurring a Net Loss for the year ending 30 September 2025. f Calculate the following balances as at 30 September 2025: Accounts Receivable Accounts Payable GST payable. a Prepare a classified Balance Sheet for Wayne's Fountains as at 30 September 2025 h Calculate Asset Turnover and Return on Assets for Wayne's Fountains. Comment on the performance of Wayne's Fountains given that last year's ATO was 0.86 times and ROA of 5%. 5
