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BSBFIM601 Manage Finances ACTIVITIES 1 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM
ASSESSMENT 1 OF 3 – ACTIVITY BSBFIM601 Manage Finances STUDENT Student Name Student Number Due Date
: Trainer Name
: I …………………………………………(student name) Declare that I have been fully informed of the assessment and re-assessment processes and the answers to the questions in this assessment are my own work and are not copied or plagiarised. Student Signature ASSESSOR Assessor Name – Signature of Assessor : Date assessment submitted: Candidate submitted assessment after the due date - NOT YET SATISFACTORY
Candidate submitted on or before the due date and was deemed as: (please tick) SATISFACTORY
NOT YET SATISFACTORY ASSESSOR COMMENTS RE-ASSESSMENT
Date Assessor Name Signature of Assessor The Candidate was deemed as: (please tick) SATISFACTORY
NOT YET SATISFACTORY Candidate was still deemed Not Yet Satisfactory – see student services Office use only
: COMMENTS Student to be re-assessed with charge Student to be re-assessed without charge Student to repeat unit at a later date with charge
BSBFIM601 Manage Finances ACTIVITIES 2 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM
Assessment Instructions This assessment addresses the following elements ELEMENTS 1. Plan for Financial Management 2. Establish budgets and Allocate funds 3. Implement Budgets 4. Report on Finances Assessment details •
This is assessment one of three for this unit. •
This is a summative assessment. •
This assessment is single sided. •
It is an open book assessment. •
This assessment must be completed individually. •
All questions are to be answered correctly to be deemed Satisfactory in the assessment. •
The cover page must be completed in full when you submit the assessment. •
This assessment must be submitted in by the due date or it will be deemed an automatic NYS. If that is the case the student will be charged a re-
assessment fee if the assessors deem it NYS when they mark it. Candidate Instructions •
Assessment must be completed electronically and submitted. •
Ask your assessors if you do not understand a question. Whilst your assessor cannot give you the answer, he/she may be able to re word the question so it is easier for you to understand. Special Instructions There are no special instructions for this assessment. ANIBT’s normal rules of assessment apply for this assessment – please refer to the Delivery and Assessment Strategy for this unit (given at the commencement of the unit) and your student Handbook for the following details: •
Access and Equity – Plagiarism - Collusion •
Assessment Process - Re-Assessment - Assessment Appeals Assessor Instructions There are no special instructions for the assessor. ANIBT’s normal rules of assessment and assessor instructions and guidelines are detailed in the Trainer and Assessor responsibilities handbook.
BSBFIM601 Manage Finances ACTIVITIES 3 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM
ACTIVITY 1a Identify an area of business and explain how you could use different forms of current and present financial data to ascertain whether the department made a profit or a loss. You do not have to use actual figures from your business. ACTIVITY 1b 1.
Using your answer from the previous activity, explain how you would undertake research to review the reasons for the profit or loss. Think about contributors of success, contributors to losses and other factors.
BSBFIM601 Manage Finances ACTIVITIES 4 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM
ACTIVITY 1c 1.
Using your business plan, identify your business’ critical dates in terms of income and resource use and generation. Think about seasonality and other contributing factors
. ACTIVITY 1d 1.
Explain 3 aspects on how and why you would analyse your business’ cash flow trends HOW WHY
BSBFIM601 Manage Finances ACTIVITIES 5 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM
ACTIVITY 1e 1. Explain three types of taxes that are applied to your business? including the rates and geographical variations, if applicable.
1 2 3 ACTIVITY 1f 1. Give 2 pro’s and 2 cons of financial software in your business environment Pro’s Con’s 1 2 ACTIVITY 2a 1.
Give an example of how you could use previous financial data to determine the allocation of resources. Explain the figures and how you would allocate resources accordingly
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Expressive Youths is a non-profit youth club in the Corporate Area that engages its members in
the buying and selling of paintings that are sold to public to provide income for the club. For the
financial year ending December 31, 2020 the clerical officer of the club provided the following
information in relation to the club's activities:
Payments
Electricity
Purchase of television
Purchase of paintings
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Stipend for clerk
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50,000
I.
Additional Information:
()
On January 1, 2020 the club had paintings valued at $350,000., while subscription in
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The comparative balance sheets of Constantine Cavamanlis Inc. at the beginning and the end of the year 2020 are as follows.
CONSTANTINE CAVAMANLIS INC.
BALANCE SHEETS
Dec. 31, 2020
Jan. 1, 2020
Inc./Dec.
Assets
Cash
$ 45,000
$ 13,000
$32,000
Inc.
Accounts receivable
91,000
88,000
3,000
Inc.
Equipment
39,000
22,000
17,000
Inc.
Less: Accumulated Depreciation-Equipment
17,000
11,000
6,000
Inc.
Total
$158,000
$112,000
Liabilities and Stockholders' Equity,
Accounts payable
$ 20,000
$ 15,000
5,000
Inc.
Common stock
100,000
80,000
20,000
Inc.
Retained earnings
38,000
17,000
21,000
Inc.
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$158,000
$112,000
Net…
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Title Start Date Due Date Post Date Marks Available
Case study 2 - Case 2 27 Oct 2020 - 08:00 28 Oct 2020 - 06:00 28 Oct 2020 - 19:00 100
Summary:
On Chapters 9, 10, and 11:
The YuRaeKa charity was established in 1960. The charity’s aim is to provide support to children from disadvantaged backgrounds who wish to take part in sports such as tennis, badminton, squash, basketball and football.
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(ii) Cheques sent to the charity’s head office,
(iii) Donations…
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Koch Corporation's adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $7,000, Land
$40,000, Patents $12,500, Accounts Receivable $90,000, Prepaid Insurance $5,200, Inventory $30,000, Allowance for Doubtful
Accounts $4,000, and Equity Investments (to be sold in the next quarter) $11,000.
Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.)
КОСН СORPORATION
Balance Sheet (Partial)
2$
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The major classifications of activities reported in the statement of cash flows are operating, investing, and financing. Classify each of
the transactions listed below as:
1.
Operating activity-add to net income.
2.
Operating activity-deduct from net income.
3.
Investing activity.
4.
Financing activity.
5.
Reported as significant noncash activity
The transactions are as follows.
Transactions
Classifications of Activities
(a)
Issuance of common stock.
(b)
Purchase of land and building.
(c)
Redemption of bonds.
(d)
Sale of equipment.
(e)
Depreciation of machinery.
(f)
Amortization of patent.
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Changes in Current Operating Assets and Liabilities-Indirect Method
Covington Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20Y2
Dec. 31, 20Y1
Accounts receivable
$15,300
Inventory
66,500
67,200
Accounts payable
20,100
0098
Dividends payable
000'
Adjust net income of $84,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
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Case Study # 4 Excel Submission – Capital Budgeting Comprehensive Problem
Pinnacle Custom Home Builders purchased a 40 foot articulating boom lift three years ago for
$50,000. The equipment has been depreciated under the 5-year MACRS schedule (20%, 32%,
19%, 12%, 12% & 5%). The old equipment can be sold for $33,000.
Pinnacle is considering the purchase of a new 60 foot articulating boom lift that would allow
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Assume the old and new equipment would provide the following operating gains (or losses)
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Conduct the below exercise
Step-1: Click the link
The student can use any of the below links to download the same
a) https://www.imf.org/-
/media/Files/Publications/WEO/2021/Update/January/English/data/WEOJan2021updat
e.ashx
b) https://www.imf.org/en/Publications/WEO/Issues/2021/01/26/2021-world-economicoutlook-
update
(And click on download data)
Step-2: Answer the below questions
What do you understand by Real GDP? What is the Real GDP Growth Rate of India and
China in 2019? What is the estimated real GDP growth rate of India and China in 2020?
What is the projected real GDP growth rate of India and China in 2021 and 2022?
What is the estimated 2022 GDP Loss (in percentage) in comparison to pre-covid levels
(January 2020 forecast) in China and Other Emerging Economies in Asia other than
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Quantitative Problem 1: You plan to deposit $2,200 per year for 6 years into a money market account with an annual return of 2%. You plan
to make your first deposit one year from today.
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4
b. Assume that your deposits will begin today. What amount will be in your account after 6 years? Do not round intermediate calculations.
Round your answer to the nearest cent.
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If using a financial calculator, be…
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Entries for notes payable
Bennett Enterprises issues a $660,000, 45-day, 9%, note to Spectrum Industries for merchandise inventory.
Assume a 360-day year. If required, round your answers to the nearest dollar.If an amount box does not require an entry, leave it blank.
a. Journalize Bennett Enterprises' entries to record:
1. the issuance of the note.
2. the payment of the note at maturity.
2
b. Journalize Spectrum Industries' entries to record:
1. the receipt of the note.
2. the receipt of the payment of the note at maturity.
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Students Home
M Federal Financial Aid Program X
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Ch. 7 Hmwk: Invoices, Trade &X
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Calculate the net price factor (as a %) and net price (in $) by using the complement method. Round your answer to the nearest cent.
List Price
Trade Discount Rate
Net Price Factor
Net Price
$3,499.00
35%
$4
Need Help?
Read It
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DETAILS
BRECMBC9 7.J1.014.
MY NOTES
ASK YOUR TEACHER
PRACTICE ANOTHER
Calculate the trade discount (in $) and trade discount rate (as a %). Round your answer to the nearest tenth of a percent.
List Price
Trade Discount Rate
Trade Discount
Net Price
$4,500.00
$3,515.00
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exercise for finance acc.pdf
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5 The companu purchases office equipment by cash.
Asset
Increase
Decrease
No Effect
Liability
Increase
Decrease
No Effect
Owner's Equity
Increase
Decrease
No Effect
6 The owner contributes his personal truck to the business.
Decrease
No Effect
Asset
Increase
Decrease
No Effect
Liability
Increase
Decrease
No Effect
Owner's Equity
Increase
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Question 37 of 42
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Retained earnings at the end of the period is equal to
assets plus liabilities.
net income.
retained earnings at the beginning of the period plus net income minus dividends.
retained earnings at the beginning of the period plus net income minus liabilities.
Atte
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Select all that apply to a saving account
Your answer:
emergency fund
community stock owned by family members
Lower amount of risk
lower rate of return
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Proceeds from Notes Payable
On January 26, Bella Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $48,000. Assume a 360-day year.
a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%.
b. Determine the proceeds of the note, assuming the note is discounted at 6%.
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The proceeds equal the cash initially received. Proceeds represents how much in value the borrower is walking away with in cash on
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FUNDAMENTALS OF ACCOUNTANCY BUSINESS AND MANAGEMENT 2
Self-Learning Activity 9
Name
Year/Block:
Date
Direction: Write your answers on the space provided at the back of this Self Learning Activity.
Learning Objective:
After reading the module, the learners shall be able to:
4. Describe the nature of a bank reconciliation statement.
5. Identify common reconciling items and describe each of them.
6. Analyze the effects of the identified reconciling items.
Reference: Quarter 1 Module 9 – Fundamentals of Accountancy, Business and Management 2
LEARNING ACTIVITY 9:1
Presented hereunder are the details of your Cash Receipts Journal, Cash Disbursements Journal and the Bank
Statement of Banco de Oro.
Cash Receipts Journal
O.R. Number
Amount
Payor
Odessa Alera
Date
0001
P 30,000
June 3
0002
0003
20,000
5,000
20
Arnold Navales
29
Juanita Nambatac
0004
10,000
30
Kyle Jamora
Cash Disbursements Journal
Check Number
Amount
Payee
Star 5 Grocery
DX…
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Your company wants to invest JD 10,000,000 in network, taking into consideration the below table
Investment
10,000,000.00
Lifetime
Annual Revenues in Yearl
2,000,000.00
2%
Annual decline in revenues from Y2
30%
Direct Cost % of revenues
15%
OPEX % of revenues
7%
Interest Discount rate/fWACC)
CO
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Required:
Record the payment that Mookie The Beagle Concierge receives from Sandy Copper in payment for services provided Remy.
1. Create Receive Payment.
a. From the Navigation Bar, select Projects > Sandy Copper: Remy
b. From the Add to project menu, select Receive payment
c. Select Payment Date: 01/23/2023
d. Select Payment Method: Check
e. Select Deposit to: 1600 Undeposited Funds
f. Select Invoice Number 1002
g. After selecting the Invoice, what is the Amount Received displayed?
Note: Answer this question in the table shown below. Round your answer 2 decimal places.
h. Select Save and close
Amount received
$
2. View the Transaction Journal for Receive Payment.
a. From the Navigation Bar, select Sales > All Sales tab
b. From the Sales Transactions List, select the Sandy Copper: Remy payment just entered
c. From the bottom of Receive Payment, select More > Transaction Journal
d. What are the Account and Amount Debited?
Debit
Credit
20.00
Note: Answer this question in the table shown…
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6.4 Mortgage Financing
Jessica's mortgage payment, including principal, interest, taxes, and insurance, is $750 per month. She also has other
monthly debt payments of $440. If her monthly gross income is $3,950. How would a bank assess Jessica's capacity to
take on an additional credit card?
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3. How do managers learn how to perform the job?
4. Explain the manager's job according to Henry Mintzberg.
5. What responsibilities do managers have towards people within the organization? How do they express
these responsibilities?
6. How do managers perform their job according to John Kotter?
7. How do managers make rational decisions?
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Question 8 of 20
Current Attempt in Progress
1.
2.
3.
CPO
4.
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workjam (ulta)
5.
1.
No. Account Titles and Explanation
2.
A Player
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Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of
the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No
Entry" for the account titles and enter O for the amounts.)
connect
Owner invested $66,500 in exchange for common stock of the corporation.
Hired an employee to be paid $500 per week, starting tomorrow.
Paid two years' rent in advance, $7,100.
Paid the worker's weekly wage.
Recorded service revenue…
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The information for preparing a trial balance on a worksheet is obtained from
general journal entries.
financial statements.
business documents.
general ledger accounts.
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OOOO
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Chapter 3
Question 2 of 5
The ledger of Blossom, Inc. on March 31, 2022, includes the following selected accounts before adju
Debit
Credit
Prepaid Insurance
$2,000
Supplies
2,000
Equipment
29,000
Unearned Service Revenue
$8,500
An analysis of the accounts shows the following.
1.
Insurance expires at the rate of $400 per month.
2.
Supplies on hand total $1,400.
3.
The equipment depreciates $300 per month.
4.
During March, services were performed for two-fifths of the unearned service revenue.
Prepare the adjusting entries for the month of March. (List all debit entries before credit entries. Credit account titles are autn
Credu
indented when the amount is entered. Do not indent manually.)
Debit
Date
Account Titles and Explanation
No.
rch
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Learning about Financial Planning Designations.
Please research Financial Planning designations in general and specifically each of these 3 Financial Planning designations -
CFP®
ChFC®
AFC ®
Based on what you find include in your email what is involved in earning each of the 3 listed designations above?
What main areas do they cover?
In addition to the test needed for the designation, how many hours of experience do you need to receive each credential?
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