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What is the purpose of writing an adjusted trial balance

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Reference no: EM132330049

Business Accounting Assessment - Individual Business Report

Assessment Task: Business reports are practical learning tasks where students apply the theories they have been studying to real world situations. The students are required to select a topic or work on a topic provided by the lecturer, collect information (Primary and/or secondary) or work on the information provided by the lecturer, and prepare a report describing a business problem or incident.

ASSESSMENT DESCRIPTION: Analyse the given information, make calculations where relevant and draw relevant, supported conclusions and make justified recommendations. Responses are to be formatted into a professional report for each part of each question, as would be expected of someone working in a modern accountant's office.

Please see attached file for Paul services Trial Balance As At 30 June 2016.

Step 1: Journalise the adjustment transactions (adjustments sheet)

Step 2: Post adjusting journal entries and complete the Worksheet

Step 3: Create the Income Statements from the completed Worksheet

Step 4: Journalise the closing entries

Step 5: Create the changes in Equity and Balance sheet from the completed Worksheet

Step 6: Answer the following questions considering proper referencing;

1) What is a trial balance, why do we create it?

2) What are adjustment journal entries? Why do we record the adjustment journal entries?

3) What is the purpose of writing an adjusted Trial balance?

4) How adjustment journal entries are different from the closing journal entries?

The report should be in just one word format file and total number of words including numbers should be 2000 words and proper referencing.

Attachment:- Business Accounting Assignment File.rar

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In this report, the different aspects of accounting had been done. First of all adjusting entries had been prepared.Then the worksheet had been prepared from it. Also the financial statement had been prepared from it. Then some question solution had been given.

Reference no: EM132330049

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len2330049

6/29/2019 12:24:41 AM

The report should be in just one word format file and total number of words including numbers should be 2000 words and proper referencing. Penalty will be applied to late submission or high similarity rate assignments. ASSESSMENT SUBMISSION: The assignment must be submitted online in Moodle. All materials MUST be submitted electronically in Microsoft Word format. Other formats (e.g., pdf or MAC file) may not be readable by markers. Please be aware that any assessments submitted in other formats will be considered LATE and will lose marks until it is presented in MS Word. No paper based or hardcopy submission will be accepted.

len2330049

6/29/2019 12:24:33 AM

MARKING GUIDE (RUBRIC): Excellent level Exemplary: demonstrates complete understanding (10 marks) Excellent level Exemplary: demonstrates complete understanding (10 marks) Excellent level Exemplary: demonstrates complete understanding (30 marks) Excellent level Exemplary: demonstrates complete understanding (30 marks) Excellent level Exemplary: demonstrates complete understanding (20 marks)

len2330049

6/29/2019 12:24:22 AM

GENERAL NOTES FOR ASSIGNMENTS - Assignments should usually incorporate a formal introduction, main points and conclusion, and will be fully referenced including a reference list. The work must be fully referenced with in-text citations and a reference list at the end. We strongly recommend you to refer to the Academic Learning Skills materials available in the Moodle. We recommend a minimum of FIVE references, unless instructed differently by your lecturer. Unless specifically instructed otherwise by your lecturer, any paper with less than FIVE references may be failed. Work that includes sources that are not properly referenced according to the “Harvard Referencing Workbook” will be penalised.

len2330049

6/29/2019 12:24:16 AM

References are assessed for their quality. You should draw on quality academic sources, such as books, chapters from edited books, journals etc. Your textbook can be used as a reference, but not the lecturer notes. We want to see evidence that you are capable of conducting your own research. Also, in order to help markers determine students’ understanding of the work they cite, all in-text references (not just direct quotes) must include the specific page number/s if shown in the original.

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