Aasb 102 Week 2 Accounting Question Paper

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Copyright 2013 Taylors College This work is copyright. Apart from any fair dealing under the Copyright Act, no part of this publication may be resold, reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Taylors College, Claremont. Study Guide Contents Page Overview of Study Guide 4 Overview of the Unit 4 Resources 5 Vocabulary 5 Lecture and Tutorial Summary 6 Week 1: An introduction to accounting and decision making 7 Week 2: Recording business transactions 10 Week 3: Adjusting entries and the trial balance 12 Week 4: Closing entries and preparing financial statements 15 Week…show more content…
This is a comprehensive problem that covers all of the key concepts for week 5. • ASSESSMENT 1 DUE Tutorial • Exercise 6.3 and 6.5 should be attempted in small groups. These exercises consolidate all of the new information in problem 6.5 above, so use it and your lectures to help you complete these exercises. • Go to the AASB website (Google it) and use the link to the table of standards. Find AASB 102, the accounting standard that deals with Inventories, and then answer Discussion Q1 from the textbook. • Exercises 6.10 and 6.11 are set to show you the similarities and differences between the Income Statements produced when a periodic or perpetual inventory system is used. Figure 6.11 on page 249 of the textbook may help you to complete these exercises. As an additional requirement, include the journal entries you would have used to close the accounts of Moree Retail Ltd and Narrabri Ltd when each inventory system is used. • Discussion Q 8 from the textbook. Further study/ assessment preparation Finish all of the tutorial exercises and then attempt the StudySmart quiz for Chapter 6. Week Six Special journals and accounting
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