代写ACC/ACF 1100 Introduction to Financial Accounting Assignment Two代做回归

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ACC/ACF 1100

Introduction to Financial Accounting

Assignment Two

In this assessment, you must use MYOB software to complete the practical component of the task. You must NOT use generative artificial intelligence (AI) to generate any materials or content in relation to the assessment task.

Due Date: Sunday 4^th May 2025 at 11:55pm (week 8)

Value: 10%

Purpose: To gain experience using accounting software and demonstrate understanding of the recording process.

Submission: uploaded via Moodle

Components: A practical (recording keeping) component, and a written response.

Requirements: Please read the details carefully. There are two separate tasks involved.

Background and details:

Darcy Smith has a good friend who also started their own sole proprietorship gardening business around the same time! Meg Adams named her business ‘Mega Gardening Services’. Details about her activities relating to gardening and lawn mowing for the month of February 2025 are provided (ignore GST):

Date	Details
1 Feb	Meg contributed $2,000 cash, gardening equipment valued at $1,300 and a van valued at $12,000 to start the business.
1 Feb	Meg purchased a mobile phone for $1,600 on credit from Harvey Norman.
4 Feb	Meg paid $900 for advertising in letterboxes for the months of February, March and April.
7 Feb	Meg completed weeding services for clients and received $320 cash in total.
8 Feb	Meg purchased a supply of disposable gloves and rubbish bags for $250 cash.
9 Feb	Meg weeded Mrs Brown’s garden (a neighbour) for $180 on credit.
10 Feb	Meg withdrew $195 from the business bank account for personal use.
11 Feb	Meg completed pruning services for clients and collected $430 cash. She also disposed of rubbish at the transfer station for $75.
13 Feb	Meg was called to urgently weed a garden at a property before an open day. She left the business (Sunrise Estate) an invoice for $600.
14 Feb	Meg refuelled her van for $90 cash.
14 Feb	Meg purchased a trailer from Trailer World for $4,990 on credit terms n/90.
15 Feb	Meg made a $200 payment to Harvey Norman related to the phone purchase.
16 Feb	The neighbour (Mrs Brown) paid Meg the amount she owed from the weeding on 9 Feb.
20 Feb	Meg withdrew $320 from the business bank account for personal use.
22 Feb	Meg completed a pruning job for $310 cash.
23 Feb	Garden waste disposal fees were paid for $168.
26 Feb	Meg received $400 from a client for weeding and pruning to be done in the coming weeks.
27 Feb	Meg paid Trailer World $500 towards the balance owing on the trailer.
28 Feb	Meg withdrew $210 from the business bank account for personal use.
28 Feb	Information regarding end-of-month adjustments: o Meg estimates that she has $95 worth of gardening supplies on hand. o The advertising has been consumed as planned. o Of the amount that was received from a client in advance, Meg estimates that 40% of the client’s job has now been completed as pruning services. Depreciation details (all straight-line method): o Gardening equipment (Life = 2 years, $100 residual) o Van (Life = 6 years, $3,000 residual) o Phone (Life = 3 years, $700 residual) o Trailer (Life = 8 years, residual $990)

Required:

Part A (Practical component)

The general journal entries for Meg’s transactions are included below. You are required to record the information in MYOB software and produce financial statements. You MUST follow the instructions provided in Moodle to enter this data, as marks will be awarded based on the accuracy of the data entry recording process you follow.

You need to submit the following reports from MYOB at 28/02/2025:

Ø Journal entries

Ø Profit and Loss

Ø Balance Sheet

Part B (Written component)

Answer both parts (place your answers in a word document with the reports you generated for Part A of this assignment):

(i) Based on your experience in completing Darcy’s financial records in Assignment 1, and Meg’s financial records in this assignment, compare the opportunities to make errors during the recording process under each approach. Based on this, would you recommend that Darcy use accounting software for his business? Explain why or why not and justify with any assumptions you make. Maximum 200 words.

(ii) Reflect on the process you undertook in Part A to complete this assignment. Identify which part of the MYOB recording process you found to be the most challenging and explain why. Maximum 100 words.

CHART OF ACCOUNTS

No.	Account Name
111	Cash
120	Gardening Supplies
130	Accounts Receivable
140	Prepaid Advertising
150	Gardening Equipment
151	Accumulated Depreciation – Garden Equip
160	Van
161	Accumulated Depreciation – Van
170	Mobile Phone
171	Accumulated Depreciation – Mobile Phone
180	Trailer
181	Accumulated Depreciation – Trailer
200	Accounts Payable
210	Unearned Income
300	Capital – Meg
310	Drawings - Meg
400	Weeding Services Income
410	Gardening Services Income
500	Rubbish Disposal Expense
510	Fuel Expense
520	Gardening Supplies Expense
530	Advertising Expense
540	Depreciation Expense – Gardening Equip
550	Depreciation Expense – Van
560	Depreciation Expense – Mobile Phone
570	Depreciation Expense – Trailer