Recent Question/Assignment

Assessment Details
Qualification Code/Title
Assessment Type Assessment -02 Time allowed
Due Date Location AHIC Term / Year
Unit of Competency
National Code/Title BSBFIA401 Prepare financial reports
Student Details
Student Name Student ID
Student Declaration: I declare that the work submitted is my own, and has not been copied or plagiarised from any person or source. Signature: ____________________________
Date: _____/______/__________
Assessor Details
Assessor’s Name
RESULTS (Please Circle) SATISFACTORY NOT SATISFACTORY
Feedback to student:
............................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I am also aware of my appeal rights.
Signature: _______________________________
Date: ______/_______/___________
Assessor Declaration: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback.
Signature: ________________________________________
Date: ______/_______/___________

Instructions to the Candidates
? This assessment is to be completed according to the instructions given below in this document.
? Should you not answer the tasks correctly, you will be given feedback on the results and gaps in knowledge. You will be entitled to one (1) resubmit in showing your competence with this unit.
? If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
? Please refer to the College re-submission and re-sit policy for more information.
? If you have questions and other concerns that may affect your performance in the Assessment, please inform the assessor immediately.
? To be deemed competent for this unit you must achieve a satisfactory result with tasks of this assessment along with a satisfactory result for the other assessment.
? This assessment requires students to respond to a Case Study:
• Task 1: Students are required to prepare an adjusted trial balance using a work sheet.
• Task 2 & 3: Requires the student to apply the concept of Closing entries and using that knowledge to make Post Closing Trial Balance l balance.
• Task 4 & 5: Students are required to produce end of period financial reports using Post closing trial balance.
? This is an Open book assessment which you will do in your own time but complete in the time designated by your assessor. Remember, that it must be your own work and if you use other sources then you must reference these appropriately.
? This is Individual Assessments. Once you have completed the assessment, please provide the Hard copy of the Assessments to your Trainer/ Assessor.
? Plagiarism is copying someone else’s work and submitting it as your own. Any Plagiarism will result in a mark of Zero.

Assessment Format:
Your documentation must:
a. Be of a professional standard (spelling, grammar, punctuation)
b. Size 12, Arial Font
c. 1.5 Spacing
d. All pages must have a Footer with the following details:
• Student name & number
• Page numbering
e. References – use the Harvard system for format and any copying
f. Check the layout by using print preview to ensure that the report is centred and balanced
g. The submission link will be found under Assessment submission links.
h. Ensure to change the file name to your Student No Assessment 1. For example, if your student no is 1234, your file name should be 1234_Assessment 1.
[Please go to next page]

CASE STUDY
Smart Solutions (Pty) Ltd is an IT solution company working in Sydney CBD. The company is offering end to end IT solutions to both corporate and non-corporate sector.
The company started its operations on 1st July 2015. The company has just hired you as a Junior Accountant. The manager has provided you a list of account balances as on 30 June 2016.
Account name
Amount
Sales $120,729
Electricity $1,100
Accounts Receivable $350
Land $247,000
Wages $49,000
Advertising $625
Accumulated Depreciation-Building $750
Accumulated depreciation- Moor vehicle $24,190
Building $450,000
Cash at Bank $12,375
GST Paid $395
GST Payable $3,096
Accounts Payable $1,580
Long Term Loan $145,800
Motor Vehicle $96,750
Telephone $1,250
Depreciation (Building) $750
Depreciation (Motor Vehicle) $24,190
Motor Vehicle maintenance $9,360
Capital $600,000
Drawings $3,000
Tasks:
Please follow AASB standard (where applicable) to complete the following tasks.
1. Prepare an appropriately organised Trial Balance.
2. Prepare Closing Entries.
3. Prepare a post-closing Trial Balance
4. Prepare an Income Statement ended on 30 June 2016 including the Statement of Change in Equity
5. Prepare Balance Sheet as on30 June 2016.