BSB110-Decision Making In Accounting Analysis – Accounting & Finance Assignment Help

Assignment Task

Task 

Decision Making In Accounting 

Background information
Esther Holburn, a QUT Alumni, started Drone Pix Pty Ltd recently. The company specialises in high-resolution aerial imagery and provides services in aerial photography, site surveying, mast photography and architectural visualisation. The following is the trial balance as at 31 March 2022. 

Esther Holburn has provided the following transactions for you, the Graduate Accountant, to determine the accounting implications.  You need to decide if each transaction involves: a normal Reckon transaction, an adjusting entry or requires NO transaction at all. Drone Pix Pty Ltd uses Reckon accounting software to maintain its financial records. Adjusting entries and financial statements are prepared on a monthly basis. 

Further information

1. 31 March Paid Fastcraft Technology Pty Ltd $1,622 with cheque number 205.
2. 31 March Received cash of $1,800 as part payment on account from Dalby Site Surveying Pty Ltd.
3. 31 March Received an invoice from AutoPilot Services Pty Ltd for $946 (including GST $86) in relation to staff training expenses during March.
4. 31 March The manager of Edge Resort Groups advised by email that they wish to go ahead with the quote from Drone Pix Pty Ltd to undertake site mapping for its holiday resorts.  This is expected to generate approximately $11,000 (including GST $1,000) of annual services.  The effective date for services to start is 1 May, 2022.
5. 31 March Prepared a quote for Bluemax Tour Pty Ltd for $3,300 (including GST $300) for outback photography services to be completed in Airlie Beach in June 2022.
6. 31 March Invoiced Belle Rural Property Pty Ltd for aerial property photography services, invoice number DP32 for $4,400 (including GST $400). 
7. 31 March Paid the monthly office cleaning expense with cheque number 206 for $440 (including GST $40).
8. 31 March Hired a new intern technician whose annual salary is $26,500 and who will commence work on 16 May, 2022.
9. 31 March Received cash of $1,100 (including GST $100) from a client for aerial photography services completed.
10. 31 March Submitted a proposal for a tender to supply architectural visualisation services to Cairns Rainforest Experiences Pty Ltd for $6,600 (including GST $600).
11. 31 March Signed a lease for new office effective from 1 June 2022 with an annual rent of $35,200 (including GST $3,200), with monthly payment required from 1 June.
12. Wages owing as at 31 March are $3,300. 
13. Aerial Photography Supplies on hand at 31 March total $2,000.
14. Depreciation on Aerial Photography Equipment is calculated using the Straight-Line Method over 7 years with $0 estimated residual value.  Round the amount of depreciation to the nearest whole dollar. Note that the calculation is for 1 month only (i.e. March depreciation).
15. Prepaid 6 months of Insurance on 1 March (refer to trial balance).

Reckon Instructions
A Reckon software file with all the accounts and their opening balances in place has been prepared for you.
The file is located on Blackboard under Assessment – Assessment Item 1: Accounting for Decision Making Assignment and is titled Drone Pix Pty Ltd.QBW.

Required:
1) Before starting any work on this file, ensure you have completed all the practice exercise, watched the Reckon videos, AND read these instructions IN FULL before you start!
2) Save the Drone Pix Pty Ltd.QBW file to your home drive or a USB.  Then open this file using Reckon (you will have earlier either downloaded Reckon using the software link provided, be using the computer labs at QUT which have Reckon installed or accessed the software using the Virtual Desktop).
3) IMPORTANT: Set up user for Audit Trail Log to enable production of an Audit Trail Report.  This will enable us to identify that it is your own work. Follow the steps below:
• Click on Company in the Menu bar.  Click on Set Up Users.  Click on Add User. You will see the screen below:

Click on All Areas of Reckon Accounts (for the user to enable access).

• Click Next then Click on Yes to confirm that you do wish to allow the user to access all areas of Reckon.
• Click Finish to complete the set-up process of the user.  Click Close.
• Click on File in the Menu Bar and Choose Close Company/Log Off.

4) Log on with your new User Name (e.g. 9876543Smith) otherwise you are still logged in as Admin 

• Click on File, Open the Drone Pix Pty Ltd.QBW file from the location that you have saved the file.  Note:  DO NOT use your desktop, please save the file to your USB or Network drive or both!
• Now log into Reckon with the Username that you just created in the previous step 
• (eg 9876543Smith).  If you forget your Username, log in as Admin and note down the Username and the repeat the log in process.
• The ‘Admin’ user is not to be used in any of the assignment process, for the Reckon component.  You must be logged in under your own Username.
• Record any necessary transactions in Reckon logged in and using your User Name.

This Accounting & Finance Assignment has been solved by our Accounting & Finance Expert at TV Assignment Help. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing Style. Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. 

You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turn tin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.