| Country : | Australia |
|---|
Assignment Task
SUBJECT:
1.The manager of the ‘Talking Parrot” advised that the firm would not be able to pay their account owing to a fire at the premises and having no cash reserves to pay creditors. No insurance in place to cover the fire.
2. Wages owing to the assistant at the end of month is $350.00
3. Take up other adjustments to accounts. MBB is an Australian firm and its financial year is from July to June the next year.
4. Coffee machine is to be depreciated at 40% p.a. reducing balance.
5. Prepare the Income Statement for February and the Balance Sheet as at end of February so I can see how the business is going in its second month.
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