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Task 3 - Prepare a Register of Assets and Depreciation Schedule In this task, you will continue using the Bounce Fitness organisation file in Xero
Task 3 - Prepare a Register of Assets and Depreciation Schedule In this task, you will continue using the Bounce Fitness organisation file in Xero to prepare a register of assets and depreciation schedule. i. Access the Bounce Fitness Accounting Policies and Procedures file and review the policies and procedures for preparing a register of assets and depreciation schedule, which include the following: a. Accounting requirements b. Legislative requirements c. Organisational requirements ii. Access the Bounce Fitness Accounting Transactions Information file. a. Review content in the Fixed Assets sheet in the Bounce Fitness Accounting Transactions Information file. b. Identify the fixed assets information of the company. c. Set up the fixed assets in the Bounce Fitness organisation file in Xero. Select the Start Date to set up fixed assets as 1 July 20YY. The Start Date for setting up fixed assets must be the first date of the current financial year. For example, if the financial year is 1 July 2022 - 30 June 2023, then the Start Date for setting up fixed assets must be 1 July 2022. Add each fixed asset by entering the fixed assets information and registering it. Calculate and enter the accumulated depreciation values up
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