| Subject Code : | ACC3700 | Country : | Australia |
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Assignment Task:
This sample alternative assessment task has been provided so you can see how the questions in the alternative assessment task will be formatted and how you use the two tools, Blackboard’s Assignment Manager and Cadmus to answer the questions.
This sample task is in two parts. Question 1 is a sample formatted question which you answer in this document and submit via Blackboard’s assignment manager.
The second part, Question 2 is found in Cadmus. See the link to Cadmus in Assignment area of Blackboard.
The same approach, the use of Blackboard Assignment Manager and Cadmus will be used in the alternative assessment task. This means part of your task will be found in the assignment manager and part of the task in Cadmus.
Question 1: This is a one-part question which is answered in this document.
Additional information
(a) Accumulated depreciation on plant and equipment was recorded at $14 000.
(b) Arrears of cumulative preference dividend totalled $12 000. The constitution gives the preference shareholders priority of payment of arrears of preference dividends. All shares rank equally per share as to return of capital.
(c) Of the $93 000 trade creditors recognised by the liquidator, Ladybird Ltd had not recorded $3000. Further, Ladybird Ltd had not recorded unpaid salaries and wages amounting to $1400.
(d) At the completion of the winding up, the following additional information was available.
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Interest accrued on mortgage, $2000, and on debentures, $1200
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Liquidation expenses, $800, and liquidator’s remuneration, $4000
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No bill receivable was dishonoured
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All other creditors were paid the amounts reported in the report as to affairs
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Land and buildings realised $75 000
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All other assets realised the amounts estimated.
(e) In relation to the land and buildings, the mortgagee sold the assets and remitted to the liquidator any amount more than the debt due.
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