ACCT305 Accounting Information Systems Excel Practical assessment

ACCT305 Accounting Information Systems Excel Practical assessment
Due date: 8 Sep 2017 (Week 6 Friday, 23.00).
Weighting: 20%.
Length and/or format: Approximately 600 words.
How to submit: Submit an excel file via LEO / Turnitin.
John Brown is the owner of John Brown Home Services. This Company provides service such as cleaning, car details, lawn and gardening to customers in Melbourne. The adjusted trial balance columns of the worksheet for John Brown Home Services are as shown in Table 1 below.
Table 1. Adjusted Trial Balance of John Brown Home Services
f John Brown Home Services
Worksheet
or the month ended 31 August 2017
Account Adjusted trial balance Income statement Balance Sheet
Debit Credit Debit Credit Debit Credit
Cash at Bank $45,000
Accounts Receivable 19,500
Prepaid Rent 7,500
Equipment 37,500
Accumulated Depreciation $8,000
Loan Payable (due September 2017) 15,600
Accounts Payable 9,000
J. Brown, Capital 80,000
J. Brown, Drawings 5,500
Service Revenue 34,000
Salaries Expense 27,500
Rent Expense 2,500
Depreciation Expense 1,600
Interest Expense 59
Interest Payable
Profit for this month
59
146,659 146,659
Based on information provided above, please complete the following tasks:
Create an excel file and name it as Your_Student_No.xlsx, e.g. S004123456.xlsx. Name each of the excel sheets as:
• Trial Balance,
• Income statement,
• Changes in equity, • Balance sheet, and
• Part E.
A. Copy Table 1 to the Trial Balance excel sheet and complete the worksheet.
B. Prepare an income statement on the Income statement excel sheet.
C. Prepare a statement of changes in equity on the Changes in equity excel sheet
D. Prepare a balance sheet on the Balance sheet excel sheet.
E. Do you recommend Excel spreadsheets or accounting software for preparing financial reports? Give 5 reasons to justify your answers. Type your answers on excel sheet Part E in NOT more than 600 words.
Sample of your task
Rubric – Assessment Task 1: Excel
ILOs Criteria Standards
Below Expectations Meets Expectations Exceeds Expectations
Level 1 (e.g. NN) Level 2 (e.g. PA) Level 3 (e.g. CR) Level 4 (e.g. DI) Level 5 (e.g. HD)
LO3 Completeness of
Assignment
50% or more of headings, data components, and/or formulas in Excel worksheet are missing, 20% of the headings, data components, and/or formulas in Excel worksheet are missing. 2-3 headings, data components, and/or formulas are missing in Excel worksheet. One heading, data component, or formula is missing in Excel worksheet. All headings, data, and formulas in Excel worksheet are present.
LO3 Accuracy of Assignment 50% or more of headings, data components, and/or formulas in Excel worksheet are inaccurate, 20% of the headings, data components, and/or formulas are inaccurate in Excel worksheet. 2-3 headings, data components, and/or formulas are inaccurate in Excel worksheet. One heading, data component, or formula in Excel worksheet is incorrect. All headings, data, and formulas in Excel worksheet are accurate.
LO3 Neatness and
Organization
Excel worksheet is badly disorganized or formatted, and difficult to read, Excel worksheet is disorganized, and/or difficult to read in 4-5 areas. Excel worksheet has good formatting; information is organized and easy to read, with 2-3 areas that is either not well organized or is difficult to read. Excel worksheet has good formatting; information is organized and easy to read, with one area that is either not well organized or is difficult to read. Excel spreadsheet has exceptional formatting, and information is well organized and easy to read.
LO3 Grammar, Spelling,
Harvard referencing
The report has a major typos and grammatical errors; and/or major Harvard formatting errors (when required as part of
assignment)
The report has multiple minor typos and grammatical errors; and/or multiple minor Harvard formatting errors (when required as part of assignment).
The report has 2-3 minor typos and grammatical errors; and 2-3 minor Harvard formatting errors (when required as part of assignment). The report has one minor typos and grammatical errors and one minor Harvard formatting errors (when required as part of assignment). The report is free of typos and grammatical errors; and Harvard formatting is correct (when required as part of assignment).
* This rubric is indicative of the rubrics that will be used to assess this assignment. In order to ensure the assignment is indicative of the current accounting environment, minor changes may be made to reflect these. A final version of this rubric will be made available at the time the assignment document is available.