Question 1.
The 2017 Annual report for Westfarmers is provided on the Moodie Shell or at the following web si. (https://www.wesfarmers.com.au/docs/default-source/default-document-libraiy/2017-annual-repoapdf?sfvrsn=0)
Use this Annual report to compare the financial results of each of their retail businesses only (being -Coles-, -Home Improvements-, -Department Stores-and 'Office Works-) from 2016 to 2017. You should use any financial information provided to you in the report (including ratios, and narratives).
Word Limit 1000 words Marks = 40
Question 2.
The 2017 Sustainability report for Westfarmers is provided on the Moodie Shell or at the following web site (https://sustainability.wesfarmers.com.au/media/2224/2017-wesfarmers-sustainability-full-reportpdf)
Use this Sustainability report (and other resources) to answer the following question:
How do the retail businesses of Westfarmers (being -Coles-, -Home Improvements-, -Department Stores- and 'Office Works-) show sustainability? How do you rate this sustainability?
Word Limit 600 words, Marks = 25
Question 3.
Doug's sole proprietorship business, trading as -Doug's Discount Store-, commenced business on 1 December 2017. The following Trial Balance has been prepared as at 31 May 2018.
De:it CID
Land and buildings 300 000
Motor Vehicles 80 000
Inventory 101 000
Cost of goods sold 205 000
Sales 503 200
Vehicle expense 100 000
Rent expense 36 000
Wages expense 35 000
6 month loan - S. Sandy 20 000
Bank 33 000
Advertising expense 5 000
Interest repayments on mortgage 3 000
25 year mortgage on Land & Buildings 210 000
Accounts Receivables 11 000
Petty Cash 200
Equipment 54 000
Accounts Payable 66 000
Capital - Doug 190 000
Drawings 26 000
989 200 989 200
Additional information:
1. On 31 May 2018, invent°, on hand amounted to $99 000.
2. Depreciation has not been written off on the vehicles or the equipment This is to be charged at 20% per year straight line with no residual value.
3. On 31 May 2018 wages expenses of $2 000 was owed.
4. An Allowance for Doubtffil Debts equal to 5% of the Accounts Receivables is to be raised.
Re t_q
a) Prepare the necessary adjusting general journal entries at 31 May 2018 (Narrations are required)
b) Prepare an Income Statement
c) Prepare a Statement of Changes in Owners Equity
d) Prepare a Balance Sheet as at 31 May 2018.
e) Prepare closing general journal entries (Narrations are required)
Marla = 30