ACC5901 Financial Analysis and Decision Making Assignment

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Reference no: EM133160420

ACC5901 Financial Analysis and Decision Making - Ozford Australia

Practical Exercises

Question 1
At the end June 2021 the following trial balance was prepared:

Debit Credit
	$	$
Cash	49,680	,
Accounts receivable	33,700	,
Inventory	27,840	,
Land and buildings	188,000	,
Accounts payable	,	22,000
Loan	,	28,000
Capital	,	80,000
Sales	,	275,420
Cost of goods sold	45,000	,
Advertising expense	16,000	,
Electricity account	7,700	,
Rent expense	12,000	,
Salaries expense	25,500	,
	405,420	405,420

Required:

From the additional information provided in the list below prepare the adjusting journal entries and an extended trial balance.
• $6,500 sales revenue has not yet been earned.
• June salaries of $4,300 will be paid in July.
• June interest due on loan of $1,500 not yet paid.

Question 2

Visit the Woolworths website and critically review the statement on corporate governance. What do you consider are the strengths and weaknesses of corporate governance at Woolworths?

Reference no: EM133160420

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