Accounting

Accounting MNGT5211 Semester 1, 2012 Assignment Due: Week 11 class; Submission: operose copy in class enquiry One (36 per pennyime) You be providing monetary advice to the solicitude of Brisbane Ltd, a footling wholesaler of electronic components fit(p) tightlipped the Brisbanes central tune district. The firm is considering how best to pay the purchase of some special equipment and has asked your opinion. They provided a closing poise sheet as at 30th June 2012, an income bid for the last-place quarter of the financial socio-economic class (March to June 2012) and a comp give circular of all the transactions that had occurred in the month of July 2012. The transactions are as follows: 1. compensable wages outstanding at the finish of June. 2. Made credit gross revenue of $627,000. (The cost of those goods sold was $375,000). 3. remunerative $510,000 to creditors. 4. Purchased $240,000 inventory on credit. 5. give cash for annual insurance premium of $252,000 (12 month polity commencing 1 August 2012). 6. current $840,000 from debtors. 7. Made cash sales totalling $135,000. (The cost of those goods sold was $96,000). 8.

paid $45,000 off the directors loan (The loan is liaison free). 9. nonrecreational the first of cardinal equal instalments on the prise liability. 10. Incurred wages expense of $93,000 for July. 11. paying(a) rent for August of $72,000. (Rent is payable periodical in advance) 12. Paid administrative expenses, incurred during the month, of $63,000. 13. Received sexual congress that Noosa Ltd has gone bankrupt this is a debtor whose balance is $39,000. 14. aft(prenominal) opus off Noosa Ltds balance, management decide to precipitate the preparation to $54,000. 15. Depreciation is calculated monthly as 15 per cent per annum for motor vehicles and 20 per cent per annum for plant and equipment, establish on cost. 16....If you want to get a full essay, hallow it on our website: Orderessay

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