This is corporate accounting assignment. there out are two parts on it. the first part is about forfieture of share and journal entries and explanation.Part Bconsist of AASBrelated questions. the...

HA2032 Corporate Accounting (T3, 2012) Assignment (20 marks 20% of Final Mark) The assignment has two parts namely Part A(13 marks) & B(7 marks). Part A will require the student to provide the necessary journal entries with explanations to record the business transactions relating to shares. Part B will have two questions th adapted from the textbook, Financial Accounting 7 edition by Deegan and Samkin. Part A of the assignment aims to enhance the practical accounting skills of the student in the preparation of journal entries in the issuance and forfeiture of shares. Part B aims to introduce the student on the importance of the role of the Australian Accounting Standards Board (AASB). However, it is well encouraged to include any additional information that students may think will be useful in completing the task. General Rules and Requirements: This is an individual assignment. It is required to be submitted in both soft and hard- copy by Friday, 14 December 2012. Total marks applied to this assessment are 20%. Please ensure that you attach an assignment submission sheet to your hard copy only. Late submissions draw a penalty of 5% per day of the value of the assessment (1 mark in this case) up to a maximum of fourteen (14) days. After that date, your assessment will not be accepted unless prior and special consideration has been granted. This is NOT a report but it is expected that your submission will be in an appropriate format. There is no word limit applied but you should ensure that each question is appropriately answered. Where references are used, ensure they are recognised (refer to student handbook or your lecturer if unsure) Part A – Accounting for Issuance and Forfeiture of Shares (13 marks) ABC Ltd needed funds to finance the expansion of its retailing business. After consulting the Finance Director, the Board of Directors decided to offer their shares to the public. In its prospectus, it...