Record the asset acquisition including any gst liability

Financial Activity,
BAS Statement and Report

Name: Anusara Tumkam

BSBFIA402 – Report on Financial Activity

BON000046Q

	Financial Activity,

BSBFIA402 – Report on Financial Activity

6. Identify a discrepancy. Follow organizational policy to gain authorization to correct error.

7. Submit all documents to your assessor. Ensure you keep a copy of all work submitted for your records.

vehicle

General Journal
		Debit

Asset acquisition

	66,000	66,000

BSBFIA402 – Report on Financial Activity

30/6/2011		66,000

66,000

1/7/2010		66,000	66,000
	1-1150 Cash at bank	66,000	66,000
	1-1150 Cash at bank	66,000	66,000

You notice a discrepancy. Another employee has created the following unauthorized entry for the acquisition of the sales vehicle.

BSBFIA402 – Report on Financial Activity

Value:45,000

Authorizati	Asset ID	Date	Details		Asset	Accumulated
on					Asset	Depreciation
					Credi	Depreciation
					Credi
	1-5111	1/7/20	Vehicl	66,000	t
	Motor			66,000	t

vehicle

Miss		66,000

Task B – Prepare a BAS Statement

3. Identify the relevant information from the two invoices provided and record the financial data in appropriate journals, accounting for GST liabilities.

TAX INVOICE
From: Technology Solutions Pty Ltd
ABN: 87 671 495 227
10/06/2011 To: Lucky Computers Pty Ltd

At the end of the financial year, your accountant might want you to record journal entries for things such as depreciation of your computer or company car. As these are likely to be just “book adjustments” (there’s no cash or other party involved), you would record them as general journal entries.

General journal entries are different to other transactions in AccountRight. In the Record Journal Entry window (Accounts command centre > Record Journal Entry) you need to:

5. Identify information from the case reports mentioned herein to prepare BAS statement. Note that purchase of stock sold is $90,000 GST included.

Start AccountRight and open your online company file.

BAS calculation worksheet Students will use the BAS form to assist

them in filling out the BAS Calculation worksheet

including:

You can use the table below as a working sheet. You need to transfer the information you entered on the BAS form into this working table.



	278378.18
G2

	0
PAYG Tax withheld


W5	15380.36


	0
1E

	0
6A

	15380.36
1B

	0

Task C – Provide financial feedback

	Packett Packaging has a friendly team focused on providing clients with personalised service to meet their individual needs. Our staff are highly trained and pride/are proud themselves on efficiency/good organisation, productivity/good performance to produce and strong communication. In the interest of providing our clients with outstanding service, we expect all our staff to: be polite and helpful● ● build strong relationships with clients to better understand and meet their needs ● communicate clearly at all times. Privacy policy Packett Packaging is committed to protecting their clients’ privacy. Packett is bound/committed by the Australian Privacy Principles as set out in in the Privacy Act 1988 (Cwlth) and all other applicable legislation governing privacy (rules and regulations). Our respect for our customers’ privacy is paramount/at the top of the list. We have policies and procedures to ensure that all personal information is handled in accordance with the National Privacy Principles.

1. 1
			Interpretation
	Current Assets / Current Liabilities
1. 2
		Calculation	Interpretation

1. 3
	Formula	Calculation

1. 4	Accounts Receivable Turnover
	Formula
			Company turnover is11.30
1.


	Packett Packaging has a friendly team focused on providing clients with personalised service to meet their individual needs. Our staff are highly trained and pride/are proud themselves on efficiency/good organisation, productivity/good performance to produce and strong communication.

BSBFIA402 – Report on Financial Activity