I have an final Assessment today. Can you help me to finish it before 3:30pm today. I can not submit it after 4:00pm. I need it as soon as possible.
Question 1a - Conceptual Framework
Highope Ltd is currently exploring for platinum (a precious mineral) in central Australia. The company has acquired a mining licence from the Australian Government, which allows it to explore for platinum in a specific region of central Australia. Based on the licence, Highope Ltd has the right to sell any platinum it finds in this region. To date, Highope Ltd has spent $300,000 cash in exploration costs searching for platinum. Highope Ltd has no previous experience in mining, has not found any platinum as yet, and no platinum has been found at nearby mining sites.
1a) Should Highope Ltd recognise an asset in relation to the exploration costs? Justify in accordance with the relevant Conceptual Framework de?nition and recognition criteria.
Question 1b - Conceptual Framework
1b) Should Highope Ltd recognise an expense in relation to the exploration costs? Justify in accordance with the relevant Conceptual Framework de?nition and recognition.
Question 2a - Performance Measurement
Bryson Ltd specialises in golf equipment and has two divisions – (1) the Golf Clubs Division and (2) the Golf Ball Division

The following information relates to the two divisions:
Golf Clubs Division Golf Ball Division
Sales $20,000,000 $12,000,000
Variable Costs $10,000,000 $4,800,000
Fixed Costs $6,000,000 $2,800,000
Investment $24,000,000 $32,000,000
Bryson Ltd has a required rate of return of 15%.
2a) Calculate the return on investment (ROI) for each division.
Question 2b - Performance Measurement
2b) Calculate the residual income (RI) for each division.
Question 2c - Performance Measurement
Bryson Ltd is considering investing in a new opportunity for each of the divisions. The investment costs $8,000,000 and will increase each divisions profit by $1,120,000.
2c) Taking into consideration your calculations in 2a, if divisional performance is assessed based on ROI, which division(s) would go ahead with the new investment?
Question 2d - Performance Measurement
2d) Taking into consideration your calculations in 2b, if divisional performance is assessed based on RI, which division(s) would go ahead with the new investment?
Question 2e - Performance Measurement
Bryson Ltd has approached you to develop a balance scorecard for their company.
2e) Recommend key non-financial measures Bryson Ltd could implement in their performance measurement system.
Question 6 - Worksheet and Financial Statements
Transactions for the year ending 30 June 2021
1. Credit Purchases of inventory $27,500
2. Cash Sales $25,000
3. Credit Sales $32,500
4. Paid Accounts Payable $12,500
5. Paid wages $10,000, wages owing at 30 June 2021 $1,500
6. $6,500 in rent was paid during the year. Rent is charged at $500 per month
7. Collection from Accounts Receivable $15,000
8. Interest paid on the Loan $750
9. Insurance expense incurred but not yet recorded $2,500
10. The company paid a subscription of $3,000 relating to the period 1 April 2021 to 31 January 2022
11. The Directors agreed to a wages bonus of $10,000 for good performance this year. It was announced to staff in June but had not been paid as at 30 June 2021
12. Electricity of $2,000 for the period March 2021 to June 2021 not paid
13. Depreciation of Furniture & Fittings 10% of cost
14. Bad debts written off using the direct method $1,500
15. Dividends paid at 30 June 2021 of $2,000
16. Stock at end of June 2020 $22,500
Note:
Accounts Payable are used for inventory purchases only.
6a) Complete the attached spreadsheet containing the Worksheet, Income Statement for the year ending 30 June 2021 and Balance Sheet as at 30 June 2021, and then upload it below.