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QUESTION Question 5. Total 5 Marks Suggested time allocation: 9 minutes 5 points You are the new accountant of Rochdale Company. The previous accountant has provided the Director with the following information stating that the new accountant can prepare journal entries for recording in the accounting system for the year ending 30 June 2020. Rochdale Company reported earnings before tax for the year ending 30 June 2020 of $300,000. The company income tax rate is 30 per cent across the years. The financial and local years and on 30 June Required: Prepare a Memorandum Report for the Director about the journal entries for the year ending 30 June 2020, showing workings for the following scenarios. Itemise each situation separately as given below. a. The company recorded $30.000 provision for annual leave balance as at 1 July 2019. Staff members used up $5,000 annual leave for the year and accrued $2,000 annual leave for the year ending 30 June 2020 (2.5 Marks) b. Rochdale company recorded $60,000 goodwill balance with accumulated amortisation of goodwill of $10,000 as at 1 July 2019. There was no goodwill disposed of during the year. The company accrued $5,000 for the year ending 30 June 2020. (2.5 Marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U S Paragraph Arial 14px . IK a S X X V V > TC T 99 19 BE X E. A EX: *H BE (5) 1 O WORDS POWERE QUESTION 4 10 points Click Save and Submit to save and submit. Click Save All Answers to save all answers, Save All Answers Close Window MacBook Pro 3 4 QUESTION Question 5. Total 5 Marks Suggested time allocation: 9 minutes 5 points You are the new accountant of Rochdale Company. The previous accountant has provided the Director with the following information stating that the new accountant can prepare journal entries for recording in the accounting system for the year ending 30 June 2020. Rochdale Company reported earnings before tax for the year ending 30 June 2020 of $300,000. The company income tax rate is 30 per cent across the years. The financial and local years and on 30 June Required: Prepare a Memorandum Report for the Director about the journal entries for the year ending 30 June 2020, showing workings for the following scenarios. Itemise each situation separately as given below. a. The company recorded $30.000 provision for annual leave balance as at 1 July 2019. Staff members used up $5,000 annual leave for the year and accrued $2,000 annual leave for the year ending 30 June 2020 (2.5 Marks) b. Rochdale company recorded $60,000 goodwill balance with accumulated amortisation of goodwill of $10,000 as at 1 July 2019. There was no goodwill disposed of during the year. The company accrued $5,000 for the year ending 30 June 2020. (2.5 Marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U S Paragraph Arial 14px . IK a S X X V V > TC T 99 19 BE X E. A EX: *H BE (5) 1 O WORDS POWERE QUESTION 4 10 points Click Save and Submit to save and submit. Click Save All Answers to save all answers, Save All Answers Close Window MacBook Pro 3 4

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