It's a test that's on template nothing should change in given form, just fill in the tables and answer the questions asked where there are any. It is a 2 hour test in accounting. I am already in delay. So, please can you assignee this to some one who can do this on the spot. Referencing stile is NOT applicable, NO referencing its a test.
BSBFIA412_AE_Bn_2of2 Skills Assessment Criteria Unit code, name and release number BSBFIA412 REPORT ON FINANCIAL ACTIVITY R1 Qualification/Course code, name and release number BSB40215V4 CERT IV Business BSB41115 CERTIV International Trade Student details Student number Student name Assessment Declaration This assessment is my original work and no part of it has been copied from any other source except where due acknowledgement is made. No part of this assessment has been written for me by any other person except where such collaboration has been authorised by the assessor concerned. I understand that plagiarism is the presentation of the work, idea or creation of another person as though it is your own. Plagiarism occurs when the origin of the material used is not appropriately cited. No part of this assessment is plagiarised. Student signature and Date(type the information in here) Document titleVersion 1.0Page 1 of 3 Disclaimer: Printed copies of this document are regarded as uncontrolled. Please check to ensure this is the latest version. © 2011 Department of Education and Communities, TAFE NSW eLearning Hub | Version: 0.0 | Created: dd/mm/2011 Document title: BSBFIA412_AE_Bn_2of2Page 4 of 11 Resource ID: 1st Sem 2021 v1BSTUDENT NAME: Version:1.0 Date created:31/8/2020 Date modified:08/04/2021 For queries, please contact: © 2019 TAFE NSW, Sydney RTO Provider Number 90003 | CRICOS Provider Code: 00591E This assessment can be found in the: Learning Bank The contents in this document is copyright © TAFE NSW 2019, and should not be reproduced without the permission of the TAFE NSW. Information contained in this document is correct at time of printing: 8 April 2021. For current information please refer to our website or your teacher as appropriate. Assessment instructions Table 1 Assessment instructions Assessment details Instructions Assessment overview The objective of this assessment is to assess your skills as would be required to: Report on Financial Activity Assessment Event number 2 of 2 Instructions for this assessment This is a skill based and knowledge assessment and will be assessing you on your ability to demonstrate knowledge and skills required in the unit. This assessment is in 1 part and also includes Assessment Feedback: 1. Practical Tasks 2. Assessment Feedback Submission instructions · Attempt ALL questions in this assessment. · All work is to be done in this BOOK. · All workings must be shown. If you just write down the answer and no working is shown, you may be awarded Unsatisfactory (US) in that answer although it is correct. · Download the TAX Tables for the assessment from this site (Moodle) · This assessment paper or information from this assessment must not be removed or copied. · On completion of this assessment, you are required to upload it to Moodle · Ensure you have written your name on the front page and at the bottom of each page of this assessment. In the footer. · Personal electronic devices (mobile phones / IPad) are not permitted · It is important that you keep a copy of all electronic and hardcopy assessments submitted to TAFE and complete the assessment declaration when submitting the assessment. What do I need to do to achieve a satisfactory result? To successfully complete this assessment the student will be available at the arranged time to complete all the assessment criteria as outlined in the assessment instructions. Each topic must be passed and the student must achieve 60% or more of the overall paper. All oral questions must be answered correctly to be deemed satisfactory in this assessment task; however, Assessors may ask questions to clarify understanding. What do I need to provide? Computer (either desktop, laptop, tablet) with webcam and microphone, calculator, pens. THIS IS A CLOSED BOOK ASSESSMENT What the assessor will provide? Assessment paper, and Tax tables online to be downloaded from Moodle. Due date/time allowed/venue Time Allowed: 2 hours Must be uploaded to MOODLE by 10.00pm Monday 29th March 2021 Assessment feedback, review or appeals In accordance with the TAFE NSW policy Manage Assessment Appeals, all students have the right to appeal an assessment decision in relation to how the assessment was conducted and the outcome of the assessment. Appeals must be lodged within 14 working days of the formal notification of the result of the assessment. If you would like to request a review of your results or if you have any concerns about your results, contact your Teacher or Head Teacher. If they are unavailable, contact the Student Administration Officer. Contact your Head Teacher for the assessment appeals procedures at your college/campus. Specific task instructions The instructions and the criteria in the tasks and activities below will be used by the assessor to determine whether the tasks and activities have been satisfactorily completed. Use these instructions and criteria to ensure you demonstrate the required skills and knowledge. If this assessment requires you to record information, your assessor will provide you with an appropriate document/template. REMEMBER TO SAVE AS YOU COMPLETE EACH QUESTION At the end of the assessment: SAVE THIS PAPER AS A WORD DOCUMENT file and upload to Moodle File name: Assessment_2_RFA(your full name)GPv1B Part 1: Practical To complete this part of the assessment, you will be required to participate in a practical demonstration of how to complete a task or activity by completing each question with all workings shown. These practicals will be digitally recorded and submitted as evidence. Your responses will be used as part of the overall evidence requirements of the unit. You should refer to the list of criteria in the Observation Checklist to understand what you need to demonstrate in this section of the assessment. This Checklist outlines the assessment criteria used to assess your performance. Once completed you will need to submit this assessment and the tasks and activities you are required to complete to your assessor for marking as instructed. Task 1: financial Information The trial balance for The Correction Company has a number of errors. Correct the errors and recalculate the trial balance. Trial Balance of The Correction Company for the year ended 30 June 2021 Debit Credit Debit Credit $ $ $ $ Capital 374000 Drawings 32000 Sales 210000 Cost of Goods sold 130000 Inventory 21000 Accounts Receivable 18700 Land 296900 Buildings 44600 Loan from bank (short term) 1200 Motor Vehicles 29200 GST Collected 6500 Accounts Payable 23800 Interest Income 1100 Fees Income 2400 Sales Salaries 31200 Motor Vehicles Expenses 10400 Bad Debts 3000 GST Paid 2000 593400 644600 Task 2: financial information The following is a set of transactions for the business of J Ferguson. There are no balances in the accounts at 1 May as Jones is starting his business. May 1Owner introduced $7,000 cash and furniture worth $14,000 into the business 2Purchased $10,000 worth of goods for cash 3Sold goods for $7,800 cash 5Paid part of goods purchased $5,000 13Sold goods on credit $2,300 15Received $5,200 interest 25Paid $3,200 for supplies 31Paid wages $9,000 What is the balance of the cash at bank account at 31May (balance B/d)? a) $14,000 debit b) $7,200 debit c) $14,000 credit d) $7,200 credit ANSWER ______________________ Task 3: financial information Match the appropriate number from column C into column B that corresponds with the definition of the Legislative requirement in column A. COLUMN A COLUMN B COLUMN C Standards 1. A law passed by both Houses of Parliament. It is a wide-ranging document which serves as a framework for the more detailed requirements described by regulations, codes of practice and standards ACT 2. Made under an Act of Parliament and is classified as a legislative instrument Code of Practice 3. Sets minimum levels for specifications, performance measures and actions, in relation to operations within industries. May carry the full weight of the law Regulation 4. Detailed documents that explain how people working in particular industry would attempt to meet the conditions tabled by regulations and legislation. Task 4: financial information Calculate net profit from the following information $ Service Revenue 912,000 Interest Income 12,500 Wages 125,000 Rent 20,000 Other Expenses 148,200 NET PROFIT Task 5: Statutory requirements Calculate the withholding tax in the following circumstances. The rate is 47% a) A company receives an invoice for goods totalling $527 and an ABN is not provided b) An employee fails to give a TFN and is paid $1,500 for a week’s work. c) A company pays a dividend to a shareholder of 8 cents per share. The shareholder had 2,500 shares but does not provide a TFN. What amount will be withheld? Task 6: financial information Classify the following as Current Assets (CA), Non-Current Assets (NCA), Current Liabilities (CL), Non-Current Liabilities (NCL), Owners’ Equity (OE), Revenue(R) or Expenses (E). Allocate the account to either the Income Statement IS or Balance Sheet BS. CA NCA CL NCL OE R E IS/BS GST Paid Advertising Rent income Capital Depreciation of Furniture and fittings Bank GST Collected Bank overdraft Accommodation revenue Salaries COGS Liquor inventory Term deposit for 16 months Insurance Drawings Interest paid on loan Sales Accounts payable Repairs and maintenance Land and buildings Mortgage on land and buildings Telephone Accounts receivable Task 7: Financial Recommendations The current assets of a business amount to $230,000 and the current liabilities total $220,000. Included in these figures are amounts for stock of $35,000 and an overdraft of $100,000. a) Calculate the working capital ratio and the quick asset ratio. You must show the formula and the calculations. b) In your own words, using the ratios calculated above in (a), explain what the ratios mean and what actions should be taken to improve the working capital ratio, 3 actions should be given. Task 8: