ACC201 Financial Accounting

Published : 01-Sep,2021 | Views : 10

Question:

Provide enough information to staff to satisfy the following:
For staff to understand the nature of the news / change / development and its potential impact (so staff can decide whether they need to investigate further given the nature of their own work) Provide directions to staff of where they can access further information on the news / change / development if they wish to (including website links where appropriate).

Required:
Prepare a 2 page newsletter that identifies and summarises changes / developments and news in the financial reporting environment for the period from 1 May 2017 to 4 August 2017.. Identification of changes and developments This will involve extensive research on a number of sources over the required period. You will need to identify and consider a range of developments/changes such as:

Answer:

Balance Sheet of Winter Limited for the year ended 30th June 2017
Particulars	Amount (in $)
Share capital	5,00,000
Retained earnings	8,73,300
General reserve	2,76,800
Bank loan	5,00,000
Less: Repayable in a year	17,000
Less: Repayable in a year	19,000
Less: Repayable in a year	12,000
Debentures	6,00,000
Add: Provisions repayable	1,07,800
Accrued wages payable	8,200
Interest payable	8,300
Current tax liability	33,500
Dividends payable	45,000
Total	30,00,900
Land	11,00,000
Less: Accumulated depreciation	5,47,900
Goodwill	68,300
Investment property	6,14,000
Raw materials	3,12,900
Cash management account	1,68,200
Less: Allowance for doubtful debts	1,09,300
Interest receivable	6,700
Loan receivable	60,000
Prepaid rent	13,600
Total	30,00,900