Securing Higher Grades Costing Your Pocket? Book Your Coursework Help at The Lowest Price Now!

  • +1-617-874-1011 (US)
  • +44-117-230-1145 (UK)
Online Customer Service

ACC2CRE Corporate Accounting- Financial Statements

Salaries not paid at 30th June amounted to $8,000.Unpaid power account for June totalled $4,000.Prepaid insurance attributable to current year is 10,000.Star Ltd. uses the periodic inventory system. The stock-take of 30thJune shows closing inventory of $110, 000 (valued at lower of cost and market value).Interest on bank mortgage is 10% per annum and is payable twice yearly on 31stDecember and 30th June. The amount due at 30 June has not been recognised.

Depreciation rates on the straight line basis are as follows:

                                              Plant & Machinery                    10%

                                              Furniture & Fittings                   5%

                                              Buildings                                     5%.

The current market value of marketable securities is $42,000. Marketable securities are valued at lower of cost and market value.On 21stJune 2017, Star Ltd was notified of an impending legal suit for $25,000 against the company for breach of contract. The case was settled 15th July 2017.Tax expense was calculated to be $40,000. A final dividend of 5% of paid-up-capital was declared and approved in 30thJune 2017.On 15 August 2017, Robert Ltd, a major customer of star Ltd, indicated that it had found an alternative supplier. At that date Robert Ltd owed no amount to Star Ltd.

Required:

Prepare the necessary adjusting journal entries required by items 1 to 10 (narrations are not required). 

Prepare a Statement of Comprehensive Income, a Statement of Financial Position and a Statement of Changes in Equity for Star Ltd for the year ended 30th June 2017 in accordance with the requirements of AASB 101. 

Prepare at least fifteen (15) notes to the financial statements according to comply with relevant accounting standards.


Buy ACC2CRE Corporate Accounting- Financial Statements Answers Online

Talk to our expert to get the help with ACC2CRE Corporate Accounting- Financial Statements Answers to complete your assessment on time and boost your grades now

The main aim/motive of the management assignment help services is to get connect with a greater number of students, and effectively help, and support them in getting completing their assignments the students also get find this a wonderful opportunity where they could effectively learn more about their topics, as the experts also have the best team members with them in which all the members effectively support each other to get complete their diploma assignments. They complete the assessments of the students in an appropriate manner and deliver them back to the students before the due date of the assignment so that the students could timely submit this, and can score higher marks. The experts of the assignment help services at urgenthomework.com are so much skilled, capable, talented, and experienced in their field of programming homework help writing assignments, so, for this, they can effectively write the best economics assignment help services.

Get Online Support for ACC2CRE Corporate Accounting- Financial Statements Assignment Help Online

Resources

    • 24 x 7 Availability.
    • Trained and Certified Experts.
    • Deadline Guaranteed.
    • Plagiarism Free.
    • Privacy Guaranteed.
    • Free download.
    • Online help for all project.
    • Homework Help Services

Tap to Chat
Get Instant Assignment Help
Tap to Chat
Get Instant Assignment Help