This assignment should follow Australian accounting standards.
The following instructions are from additional explanation from professor.
1. PART A:
“An additional 75 000 $2.00 shares have been issued and fully paid during the 2014 financial year.”
-> Assume the additional 75 000 fully-paid shares have been issued on 1 September 2013.
2. PART A – Question 1:
“appendix C” -> “appendix B”
” I would like to clarify one thing, which will be relevant to everyone. The assignment states “The following revaluations were recognised during the year”. This means the transactions related to revaluation have been already reflected in the balances (given below the additional information b). However, you still need to calculate the balances of share capital and dividends paid.
I found the way in which the information presented in the assignment could be misleading. ”
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