Part A – Accounting and spreadsheet (60 marks)On 1 Oct 2018, Andrew Brown opened Nundle Services, a small business offering maintenance services in New South Wales. During the month of October, the Part A – Accounting and spreadsheet (60 marks) On 1 Oct 2018, Andrew Brown opened Nundle Services, a small business offering maintenance services in New South Wales. During the month of October, the business incurred the following transactions: 2 Oct, Andrew invested $50,000 cash in the business, which is organised as a sole trader. 3 Oct, got a 5 year loan for $30,000 from the ANZ bank, interest is 5% pa. 4 Oct, purchased and paid for equipment worth $51,000. Monthly depreciation will be $850. 5 Oct, purchased supplies for $6,500 on credit. 8 Oct, paid Oct office rent of $7,200. 10 Oct, Brown withdrew $2,000 for personal purposes. 17 Oct, paid an invoice of $4,500 for advertising 25 Oct, paid one year of insurance for $5,600 Additional information at 31 Oct: Supplies on hand was $3,100 Services revenue of $22,500 must be accrued Monthly payroll is $11,500 and paid once a month on Friday after the month ended. 31 Oct 2018 was on Wednesday. Some customers advanced $10,500 for maintenance services to be provided next month but this amount hasn’t been recorded. Requirements: Provide journal entries for all transactions that occurred during October 2018. (8 marks) Open T-accounts and post all journal entries to the T-accounts. Total all of the T-accounts to determine their balances at the end of the month. Provide your handwritten solution – scan or use your phone to copy and paste its image into your assignment. You can use a free scanning app such as Camscanner, OfficeLens, or Google Drive. (10 marks) Based on balances from the T-accounts, prepare the trial balance by using an Excel spreadsheet. Present your answers in a normal view, showing columns and rows. (4 marks) What are temporary and permanent accounts? From your trial balance, choose four permanent and four temporary accounts. (4 marks) From your trial balance, choose two accounts with normal debit balances and two accounts with normal credit balances. (2 marks) What are adjusting entries? Why do we have to do adjusting entries? Provide all adjusting entries for Nundle Services in October. (9 marks) Using your trial balance in the preceding question and Excel spreadsheet, prepare the ten column worksheet for the month ended 31 October. In the spreadsheet, you are required to have a data section separated from a report section. Use an IF function for Profit or Loss. Present your answers in both normal and formula views, showing columns and rows. (10 marks) Using the spreadsheet, prepare three financial reports. Present your answers in both normal and formula views. (9 marks) Calculate and evaluate the firm’s current and debt ratios. (4 marks) Part B – History of accounting (15 marks) “Double-entry bookkeeping developed by word of mouth and the distribution of books. Pacioli’s book was the first on the subject and so it is no wonder that it became so widely known. The books on the subject which came after Pacioli’s were essentially copies, translations or very similar in their origin and with a tendency to fit their material to the ‘Method of Venice’” (Mann, 1994, p. 20). Write an essay (about 800 words) to discuss the above quotation in relation to the history of the development of accounting and the role of Pacioli’s book (on double-entry bookkeeping). You are required to use at least two reading resources in Interact2 that relate to the history of accounting. Part C – Ethics (15 marks) Watch the video below: https://www.youtube.com/watch?v=n4NGZ4vWFLw Requirements: Use the video, reading resources in Interact2 and other resources on the internet that relate to the case to write a business report (about 600 words) addressing the issues below: What is the case about? What are the five Fundamental Principles of Ethics in accounting? Describe them. Using the facts of the case to provide examples for each of the five principles In the case, which and how are the principles of ethics violated? You are required to use the format of a business report, and provide at least one reference from the readings in Interact2 and two references from the accounting resources on the Internet. Presentation – 10 marks You are required to provide a quality presentation the total assignment including referencing throughout and a bibliography. Details are listed under the presentation and spreadsheet

   After watching this video, explain how Cole Hardware used technology to manage inventory, and identify at least two (2) benefits of the use of this technology by the company. https://youtu.be/1d0O8MAMyAM

1 page with APA reference

Describe at least one learning resource and how it assists you in considering the application of fraud detection and deterrence procedures.

Disposable income rises in the United States because of a tax cut. What

happens?

a. The demand for imports in the United States rises, leading to an increased

demand for British goods and resulting in appreciation in the British

pound.

b. The demand for imports in the United States rises, leading to an increased

demand for British goods and resulting in depreciation of the British

pound.

c. The demand for exports in Britain rises, leading to an increased demand for

American goods and resulting in appreciation in the dollar.

d. The demand for exports in Britain rises, leading to an increased demand for

American goods and resulting in depreciation of the dollar.

Scenario: You are a loan officer for White Sands Bank of Taos. Paul Jason, president of P. Jason Corporation, has just left your office. He is interested in an 8-year loan to expand the company’s operations. The borrowed funds would be used to purchase new equipment. As evidence of the company’s debt-worthiness, Jason provided you with the following facts:

                     2017   2016

Current Ratio  3.1    2.1

Asset Turnover 2.8   2.2

Net Income Up 32% Down 8%

Earnings per Share $3.30     $2.50

Jason is a very insistent (some would say pushy) man. When you told him you would need additional information before making your decision, he acted offended and said, “What more could you possibly want to know?” You responded you would , at minimum, need complete, audited financial statements. 

Develop a minimum 700-word examination of the financial statements and include the following:

• 1.  Explain why you would want the financial statements to be audited.
• 2.  Discuss the implications of the ratios provided for the lending decision you are to make. That is, does the information paint a favorable picture? Are these ratios relevant to the decision? State why or why not.
• 3.  Evaluate trends in the performance of P. Jason Corporation. Identify each performance measure as favorable or unfavorable and explain the significance of each.
• 4.  List three other ratios you would want to calculate for P. Jason Corporation, and in your own words explain in detail why you would use each.
• 5.  As the loan officer, what else would you do to gain a better understanding of Paul Jason’s, and the Corporation’s financial picture and why?
• 6.  Based on your analysis of P. Jason Corporation, will you recommend approval for the requested loan? Provide specific details to support your decision.