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What was the bad debt method that the company used

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Reference no: EM132118448

Part A - Bank reconciliation

You are preparing Golf Club's financial reports for June 2017, and the 30 June 2017 bank statement has just arrived with the balance of $29,930. Currently, Golf Club's Cash account shows a balance of $30,690.

Additional information:

EFT dividend receipt

 $ 1,050 

EFT Rates payment

 $ 2,520 

Bank collection

 $ 12,502 

Dishonoured cheque

 $ 1,920 

Bank service charge

 $ 250 

Deposit in transit

 $ 12,030 

Wrong deduction from the bank

 $ 520 

Interest revenue earned

 $ 122 

Outstanding cheques

 

Cheque no. 256

 $ 2,030 

Cheque no. 257

 $ 520 

Cheque no. 258

 $ 256 

Requirements:

Suggest one item that can decrease the bank balance, and one item that can decrease the cash balance. The value for both items must be the same.

With the new balances, prepare Golf Club's Bank Reconciliation at 30 June 2017 from the above data. Provide your handwritten solution - scan or use your phone to copy and paste the image in your assignment. You can use a free scanning app such as Camscanner, OfficeLens, or Google Drive.
Record any required journal entries from the bank reconciliation.

Part B - Bad debt management and financial decision

Find the Coca-Cola Amatil Limited financial report

You are an investment advisor with accounting expertise. Write a business report, addressing issues below:

What was the bad debt method that the company used? How much was their bad debt expense for the year 2017?
Is there any other method of estimating bad debt? What are their differences?
Analyse the company financial information through at least three ratios and two charts. For any ratios used, justify why these ratios are relevant to your analysis.
Comment on the company report on sustainability.

In your report, you have to provide your advice as to whether your client should invest in the company or not.

Verified Expert

This assignment contains the solution for the bank reconciliation statement and also provides for the transactions that cause different between the bank balance and the cash balance . It also provides for management of bad debts in coca cola amatil limited and also the financial decision in the company.

Reference no: EM132118448

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