urgent accounting 502832 | Homework Solutions

ACC514 FINANCIAL ACCOUNTING Session 201360 ADDITIONAL ASSESSMENT Assignment: Problem-solving Questions Value: 20% th Due date: 7 February 2014 Submission method: email to Miranda Dyason (midyason@csu.edu.au) Task You are to complete all 4 problem-solving questions. A total of 60 marks are allocated to the questions below, which will then be converted to a mark out of 20%. Rationale This assessment task covers topics 4 – 8. More specifically it seeks to assess your ability to: • prepare journal entries for transactions involving share issues, over/under subscription of shares, forfeiture and reissue of shares; • account for income tax in accordance with AASB 112; • discuss appropriate accounting treatment for intangible assets; • account for property, plant and equipment using the revaluation model. Marking criteria Essay/discussion questions In the awarding of marks for essay/discussion questions, consideration will be given to: • evidence of understanding of the key issues identified in the question; • active analysis of identified elements as appropriate; • clear indication of reading of the texts, readings and other relevant references as appropriate; • clear and logical written expression; • appropriate structure and layout as required; • appropriate referencing; and • observation of the word limit, if any. Numerical questions In the awarding of marks for numerical questions, consideration will be given to: • correctness of answers; • appropriate formatting and headings; • relevant workings; • approach taken to solve the problem; and • completeness of answers.Presentation Physical presentation of assignments It is essential that presentation of assignments adheres to accepted standards in relation to neatness and layout, as you are practising to present material in a work situation. Correct formatting and referencing procedures of material should be strictly adhered to for essays. You should submit a proper…