please answer the 2nd question in the attachment

Assessment Item 1 Assignment 1 Value: 10% Due Date: 09-Aug-2011 Question 1 (30 marks) Maximum 600 words Compare and contrast the functional perspective to the business process perspective of the organisation. In particular, comment on the different abilities of the structures to (i) delegate work to employees, (ii) respond to change and (iii) service the customer. Question 2 (70 marks) Presented below are the sales and cash receipts journals for Flower Emporium for its first month of operations. Sales Journal Date Account debited Feb 3 9 12 26 Post ref. S1 Accounts Receivable Dr Sales Cr Flower Factory Ltd P. Babcock D. Chambers K. Dawson Cost of goods Sold Dr Inventory Cr 6600 8800 9600 7200 32200 Cash Receipts Journal 4356 5148 6336 4752 20592 CR1 Date Account credited Feb 1 2 13 18 26 P. Sims, Capital Flower Factory Ltd Inventory P. Babcock Post ref. Cash Dr 35000 7800 6534 180 8800 58314 Discount Allowed Dr Accounts Receivable Cr Sales Cr Other Accounts Cr Cost of Goods Sold Dr Inventory Cr 35000 7800 66 66 8800 15400 5148 6600 180 7800 35180 5148 In addition, the following transactions have not been journalised for February 2011. Feb 7 Purchased inventory on account from Aussie Seed Supplies Ltd for $9600, term 1/7, n/30. 9 Purchased inventory on account from Gardenia Grove Pty Ltd for $45000, terms 1/10, n/30. 9 Paid cash of $1500 for purchase of supplies. 12 Paid $9504 to Aussie Seed Supplies Ltd in payment for $9600 invoice, less 3% discount. 15 Purchased equipment for $7000 cash. 16 Purchased inventory on account from Rose's Garden $3120, terms 2/7, n/30. 18 Paid $44550 to Gardenia Grove Pty Ltd in payment of $45000 invoice, less 1% discount. 20 Withdrew cash of $1800 from business to pay for personal electricity bill. 23 Purchased inventory on account from J. Able for $7600, terms 1/7, n/30. 27 Paid $3120 to Rose's Garden in payment of $3120 invoice. Required a. Open the following accounts in the general ledger. (Note steps a & d can be combined, you do not have to show ledgers twice.) 101 Cash 112 Accounts Receivable 120 Inventory 126 Supplies 157 Equipment 158 Accumulated Depreciation - Equipment 201 Accounts Payable 301 P. Sims, Capital 306 P. Sims, Drawings 401 Sales 405 Discount Received 505 Cost of Goods Sold 614 Discount Allowed 631 Supplies Expense 711 Depreciation Expense b. Journalise each transaction that has not been journalised into either a one-column purchases journal, or a cash payments journal. c. Post to the accounts receivable and accounts payable subsidiary ledgers. Follow the sequence of transactions as shown in the problem. d. Post the individual entries and totals to the general ledger. e. Prepare a trial balance as at 28 February 2011. f. Determine that the subsidiary ledgers agree with the control accounts in the general ledger. g. The following adjustments at the end of February are necessary. 1. A count of supplies indicates that $380 is still on hand. 2. Depreciation on equipment for February is $350. Prepare the adjusting entries and then post the adjusting entries to the general ledger. h. Prepare an adjusted trial balance as at 28 February 2011. All journals should be prepared using Microsoft Excel, or similar spreadsheet software. Submit your assignment manually (printed hard copy). Electronic submission via EASTS is not permitted