BSB40820 Certificate IV in Marketing and Communication

BSBFIN401 Report on financial activity

Assessment 3
Student Name:
Student ID:

Appendix 1 – Balance day project

Create a Trial balance in an Please complete the trial balance in “Balance Day
Excel workbook or you Workbook.xlsx” provided by your trainer.
may use software used by
The trial balance for Andrew's Slabs at 30 June 2021:
your business as a
separate document. Trial Balance

Details Debit $ Credit $

Cash at Bank 10,700

Account receivable 52,000

Inventory 20,000

Equipment 45,000

Accumulated 10,000
depreciation on
equipment

Vehicles 50,000

Accumulated 6,250
depreciation on
vehicles

Land 27,500

Payable 25,000

Loan 85,000

Capital 181,430

Sales revenue 120,000

Cost of goods sold 86,250

Salaries expense 30,000

Rates expense 1,500

 Stationery expense 800

Advertising 1,900
expense

Interest expense 300

Motor vehicle 780

expense

Repairs expense 2,500

Insurance expense 450

Total 329,680 329,680

Adjusted Trial balance Based on the Balance day adjustments in Assessment Task 2.
Adjust the trial balance in “Balance Day Workbook.xlsx” and
highlight the changes made.
Adjusted trial balance at 30 June 2021

Adjusted trial balance

Details Debit $ Credit $

Cash at bank 10,100

(10,700- 600)

Receivable 53,300
(52,00+1,300)

Doubtful debts 2,600

Inventory (20,000- 18,800

1,200)

Equipment 45,000

Accumulated 14,500
depreciation on
equipment

Vehicles 50,000

Accumulated 11,719
depreciation on
vehicles

Land 27,500
 Payable 25,000

Salaries payable 3,500

Loan 85,000

Capital 81,430

Sales revenue 120,000

Interest revenue 3,300

Cost of sales 87,450

Bad debts 2,600

Depreciation 9,969
expense

Salaries expense 33,500

Rates expense 2,100

Stationery expense 800

Advertising 1,900
expense

Interest expense 300

Motor vehicle 780

expense

Repairs expense 2,500

Insurance expense 450

Total 347,049 347,049

Create a Profit and loss Please complete the profit and loss statement in “Balance Day
statement for the year Workbook.xlsx” provided by your trainer.

Revenue $

Sales revenue 120,000

Interest revenue 3,300

Total revenue 123,300

Cost of sales - 87,450

 Gross profit/Trading profit 35,850

Operating expense $

Bad debts 2,600

Depreciation expense 9,969

Salaries expense 33,500

Rates expense 2,100

Stationery expense 800

Advertising expense 1,900

Interest expense 300

Motor vehicle expense 780

Repairs expense 2,500

Insurance expense 450

Total expense 54,899

Loss - (19,049)

Calculate the tax rate of the There will no be tax obligation to this case study since the company
net profit from the financial is making loss. However, normal tax rate would be at 30%
statement
Show your calculations and
answer here.

Write a Balance sheet Please complete the balance sheet in “Balance Day
Workbook.xlsx” provided by your trainer.
Draft an email to your
assessor, sending your Balance sheet as at 30 June 2021
Balance Day Workbook.
Email: Balance Sheet $ $

 The text of the email Current Assets

should be in
grammatically correct Cash at Bank 10,100
English, written in an
appropriate (polite, Accounts 52,000
business-like) style. Receivable
 It should introduce and Doubtful Debts (26,000)
summarise the contents
of the attachment and Interest Receivable 1,300
attach your general
journal to the email. Inventory 18,800

Total Current 79,600

Assets

Non-Current
Assets

Equipment 45,000

Accumulate (14,500)
Depreciation
Equipment

30,500

Vehicles 50,000

Accumulated (11,719)
Depreciation
Vehicles

38,281

Land 27,500

Total Assets 175,881

Current liabilities

Accounts payable 25,000

Salaries payable 3,500

28,500

Non-Current
Liabilities

Loan 85,000

Total Liabilities 113,500

Equity
 Capital 81,430

Net Loss (19,049)

Total Equity 62,381

Share holder's 175,881

Equity
(113,500+62,3
81)

Email:
Dear Trainer,

I wish this email finds you well. I have prepared the document
according to the requirement at Andrew’s request. Please do not
hesitate to contact me for further enquiries.
Attachment is Balance Day Workbook. Please have a look and
provide some constructive feedbacks. Thank you and looking
forward to hearing from you soon.

Regards,
Amornrat Setaphon