Inflation: Balance Sheet and Brushstroke Art Studio

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COLLEGE OF BUSINESS, HOSPITALITY AND TOURISM STUDIES

DEPARTMENT OF ACCOUNTING

ACC501: COMPUTERISED ACCOUNTING
MAJOR GROUP ASSIGNMENT: 15%
Trimester 1, 2013
Total Marks: 50 Due Dates: 2nd April, 2013

Instructions:
1. You are required to do this assignment in pairs (2 people) and submit one copy of assignment on due date, (2/04/2013).
2. Any assignment submitted after due date will not be marked. 3. Students unable to find group partners should inform unit coordinator by end of week 6. 4. All questions are compulsory.

Marking Criteria:
The Assessment Task will be marked in accordance with the following criteria:  Quality and relevance of examples and arguments to the question.  Evidence of appropriate and sufficient review of the relevant literature and understanding of the issues and arguments raised

 Logical and coherent presentation (headings may be used to facilitate this requirement)  Writing style, including English expression, spelling and grammar  Overall quality of presentation including compliance with prescribed style and format criteria.  Due Date should be strictly adhered to. No further extensions will be granted.  Referencing: proper referencing as per the Harvard system of referencing is to be done. Assessment tasks without a proper reference lists or one that is plagiarized will get a zero mark.  Assessment Task is to be typed using Times New Roman, 12 point font, line and a half spaced, with a 2.0cm margin all round

 Any calculations needed should be shown to gain full marks. . Good luck in assessment task ahead.

Part A: Case Question 20 marks

Brushstroke Art Studio Company provides quality instruction to aspiring artists. The Business adjusts its accounts monthly, but performs closing entries annually on December 31. Given below is the studio’s unadjusted trial balance dated December 31, 2011. Brushstroke Art Studio Company|

Unadjusted Trial Balance...
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