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    CETA 2020 AS91176 (2.3) Examination Accounting

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    bdsckingeon
    The document contains accounting questions and information about Mountain Adventures, a company that offers guided walking and mountain bike tours. It includes journal entries, general ledger accounts, income statements, statements of financial position, and cash flow statements related to Mountain Adventures for the year ended 30 June 2020.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    CETA 2020 AS91176 (2.3) Examination Accounting

    Uploaded by

    bdsckingeon
    43 views6 pages
    The document contains accounting questions and information about Mountain Adventures, a company that offers guided walking and mountain bike tours. It includes journal entries, general ledger accounts, income statements, statements of financial position, and cash flow statements related to Mountain Adventures for the year ended 30 June 2020.

    Original Title

    CETA 2020 AS91176(2.3) Examination Accounting

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    The document contains accounting questions and information about Mountain Adventures, a company that offers guided walking and mountain bike tours. It includes journal entries, general ledger accounts, income statements, statements of financial position, and cash flow statements related to Mountain Adventures for the year ended 30 June 2020.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    43 views6 pages

    CETA 2020 AS91176 (2.3) Examination Accounting

    Uploaded by

    bdsckingeon
    The document contains accounting questions and information about Mountain Adventures, a company that offers guided walking and mountain bike tours. It includes journal entries, general ledger accounts, income statements, statements of financial position, and cash flow statements related to Mountain Adventures for the year ended 30 June 2020.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 6

    QUESTION ONE

    Refer to Resource A when answering all parts of this question.

    Mountain Adventures offer guided walking and mountain bike tours from half day options up to 5-day
    tours.

    (a) Prepare the General Journal entry to record the following balance day information for Mountain
    Adventures. (Narrations are NOT required.)

    $560 is owing for walking tour guide wages.

    30/6/2020

    (b) Complete the General Ledger accounts below for Mountain Adventures to show the relevant
    balance day adjustments and closing entries (if required):

    Mountain bikes

    30/6/2020

    Depreciation on mountain bikes

    30/6/2020

    Botany Downs Secondary College – AS 91176 Topic Test 2021


    (c) Prepare all Expenses sections of the Income Statement (extract) for Mountain Adventures for
    the year ended 30 June 2020.

    Mountain Adventures
    Income Statement (extract) for the year ended 30 June 2020

    $ $ $

    Total Income 198 250

    Less : Expenses

    Tour expenses

    Botany Downs Secondary College – AS 91176 Topic Test 2021


    QUESTION TWO

    Refer to Resource A when answering all parts of this question.

    (a) Prepare the General Journal entry to record the following balance day information for Mountain
    Adventures. (Narrations are NOT required.)

    $160 is owing to Mountain Adventures for dividends.

    30/6/2020

    (b) Complete the General Ledger accounts below for Mountain Adventures to show the relevant
    balance day adjustments and closing entries (if required).

    GST payable

    30/6/2020

    Mountain bike tour fees received

    30/6/2020

    Botany Downs Secondary College – AS 91176 Topic Test 2021


    (c) Prepare the Current liabilities section of the Statement of Financial Position as at 30 June 2020
    for Mountain Adventures.

    Mountain Adventures
    Statement of Financial Position (extract) as at 30 June 2020
    $ $ $
    Current Liabilities

    (d) Prepare the Property, Plant and Equipment Note to the Statement of Financial Position as at 30
    June 2020 for Mountain Adventures.

    Mountain Adventures
    Statement of Financial Position (extract) as at 30 June 2020
    $ $
    Camping
    Property, Plant & Equipment Note Mountain bikes
    equipment
    For the year ended 30 June 2020
    Opening carrying amount 3 430 0

    Closing carrying amount


    As at 30 June 2020

    Carrying amount

    Botany Downs Secondary College – AS 91176 Topic Test 2021


    QUESTION THREE

    (a) Prepare the General Journal entry to record the following balance day information for Mountain
    Adventures. (Narrations are NOT required.)

    $230 including GST is to be written off as a bad debt.

    30/6/2020

    (b) Complete the General Ledger accounts below for Mountain Adventures to show the relevant
    balance day adjustments and closing entries (if required):

    Allowance for doubtful debts

    30/6/2020

    Doubtful debts

    30/6/2020

    Botany Downs Secondary College – AS 91176 Topic Test 2021


    (c) Prepare the Cash Payments section of the Cash Flow Statement extract for Mountain
    Adventures for the year ended 30 June 2020.

    Mountain Adventures
    Cash Flow Statement (extract) for the year ended 30 June 2020
    $ $
    Cash Payments
    Cash to suppliers 5 200

    Botany Downs Secondary College – AS 91176 Topic Test 2021

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