Please answer task 1

Scenario You have applied for a job in the accounting department of a department store. Task 1 of 2 - Application Form (ACs 1.1, 1.2 & 1.3) Instructions As part of the application form, you are required to answer the following questions: Explain the aims and purpose of financial and management accounting to business. e Who are the various users of accounting information and what information would these users require? e Describe the role of the International Accounting Standards Board (IASB) and the Standards Advisory Council (SAC) Delivery and Submission e 1x Application Form (Word Document) (1000 words) ) excluding TOC, diagrams, references and appendices. Task 2 of 2 - Accounting Test (ACs 2.1, 2.2, 2.3, 2.4, 3.1, 3.2, 3.3, 4.1 & 4.2) You have been called in for an interview. You have been asked to solve some problems to test your ability in basic accounting. Problem1-(AC 2.1,2.2.2.3 & 2.4) Jack Rayan runs a wholesale online toy store; he operates out of his own home with zero inventory. Every toy he sells is first purchased then re-sold, but only after the order comes through. You need to help him out with his bookkeeping. The following transactions occurred in October: Paid 500 for lease of computer equipment in advance for November Cash Sales of 4,847. (for stuffed animal) Cash sales of 4,486 (for Educational Toys) Cash sales of 4,702 (for Video Games) Cash Sales of 1,827 (for Pretend-play toys) Purchase of office supplies on account from Bing's Office Supply, 416. Withdrawal by owner (Jack Uzi) of 1,600 Payment on account (Bing's), 390 Payment of wages with cash, 2,500 Payment for cleaning services with cash, 74 Payment to purchase stuffed animal, 4,044 Payment to purchase Educational Toys, 3,547 Payment to purchase Video Games, 4,169 Payment to purchase Pretend-play toys, 1,382 Cash sales of 4,486 (for Educational Toys) Further, he has account balances for the beginning of October as follows: Accounts Payable, Bing's 2,000 lv Hut Office Supplies Jack Rayan Capital