Assignment Question 1 Maria acquired Central Delivery Services

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Assignment Question 1 Maria acquired Central Delivery Services

Question 1 Maria adventitious Central Introduction Advantages in 2018 providing a harbinger advantage coercion non-refrigerated pi among the City of Melbourne. Due to (Covid-19) the duty has remote ahead and needs to gain finance coercion an added introduction face to dilate the duty. Maria’s accountant is hatred and canreferable relieve coercion another month. As Maria has no knowledge in accounting she watched “how to order financial statements” YouTube videos and then orderd the financial statements beneath: Central Introduction Advantages Pty Ltd Statement of Financial Position As at the 30 June 2020 Assets Current Assets Introduction Vehicles 165,000 Non-current assets Supplies 28,000 Total assets 193,000 Liabilities Current liabilities Interest payable 8,000 Long-term bank loan 160,000 Salaries payable 5,000 Total liabilities 173,000 Net assets 20,000 Equity Capital 41,500 Total Equity

Question 1
Maria extraneous Central Bestowal Employments in 2018 providing a herald employment restraint non-refrigerated property amid the City of Melbourne.
Due to (Covid-19) the affair has large astride and needs to conciliate finance restraint an added bestowal face to dilate the affair. Maria’s accountant is hatred and canreferable support restraint another month. As Maria has no knowledge in accounting she watched “how to furnish financial statements” YouTube videos and then furnishd the financial statements under:
Central Bestowal Employments Pty Ltd
Statement of Financial Composition
As at the 30 June 2020

Assets
Current Assets
Bestowal Vehicles 165,000
Non-current assets
Supplies 28,000
Total assets 193,000

Liabilities
Current liabilities
Interest payable 8,000
Long-term bank loan 160,000
Salaries payable 5,000
Total liabilities 173,000

Net assets 20,000

Equity
Capital 41,500
Total Equity 262,000

Central Bestowal Employments Pty Ltd
Income Statement
Restraint the year ended 30 June 2020

Revenues
Employment revenue 250,000
Revenue ordinary in advance 18,000
Cash 275,000
Accounts receivable 35,000
578,000
Expenses
Accumulated depreciation-motor vehicle (30,000)
Accounts payable 20,000
Depreciation expense-motor vehicle 25,000
Fuel expense 35,000
Insurance expense 10,000
Interest expense 10,000
Salaries expense 105,000
Total expenses 175,000
Profit 403,000

Central Bestowal Employments Pty Ltd
Statement of Changes in Equity
Restraint the year ended 30 June 2020

Owners’ Investment 41,500

Retained hues preface balance 155,500
Retained hues bound balance 220,500

Closing Equity 262,000

After lore that you are currently studying accounting at University, Maria has asked you restraint order in the restraintm of a unimportant written tidings. Your tidings should:

a)- Describe the scope of each of the financial statements overhead (100 expression).
b)- List any errors Maria has made in these financial statements and then unimportantly teach to Maria the
correct comcomposition (300 expression).

Question 2
The forthcoming shows the Consolidated Statement of Coin Flows restraint Harvey Norman from their 30 June 2019 Annual Tidings p.65 (https://www.annualreports.com/HostedData/AnnualReports/PDF/ASX_HVN_2019.pdf )

Review each minority of the Statement of Coin flows under and the overall coin comcomposition of the corporation to vindicate why (or why you would referable) ponder investing in this corporation (150 expression).

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