\
Class IAr,v,'V
Student Name
Level 2 Accounting, 2021
91176 (AS 2.3) Prepare financial information for an entity that
operates accounting subsystems
Credits: Five
Achievement
Prepare financial information
for an entity that operates
accounting subsystems.
Achievement Criteria
Achievement
with Merit
Achievement
with Excellence
Prepare in-depth financial
information for an entity that
operates accounting subsystems.
Prepare comprehensive financial
information for an entity that
operates accounting subsystems.
Use the 2.3 Resource Booklet to answer the questions in this assessment.
You should answer ALL the questions in this booklet.
Show ALL working.
YOU MUST HAND THIS BOOKLET TO THE SUPERVISOR AT THE_END OF .THE EXAMINATION.
TOTAL
cSTION ONE
,efer to the Resourc e w hen answering all parts of this quest·,on.
Dirt
B Gone
a sole
proprietor
. 99 B
Gone_
orrersis both
d<>nestic
andb' :
end ..,,..,erad
by _
oeve
fo< GST on the ,,,,_ basi9. Olrl
Dave this year is attending the N rthl merc,al deanr~ services. Dave employs one part time cleaner.
Gone. The remainder of Dirt Go and H~e and Lifestyle Show 10 adVertise the servlceS of Dirt B
8 one advert,s,ng ,s done through his wet>site.
(a) Complete th e general journal entry for Dirt B Gone who rents out some of their spare offiCe space for
$2000 exduding GST per month This space was rented out for the full year
I 31/03/21 I
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Rent Received in advance
I
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(b) Complete the following general ledger accounts shOWing entries at 31 March 2021 including dosing
entries where relevant.
u
Cleaning Fees
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(ii)
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-·= -i...~~..J.2:=~ ~{r
~
Accounts Receivable
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Il 00
15 Elf o
ti~·o
IZ Ol(fJ
31/03/21
0/1
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Complete the Income Statement for Dirt B Gone. You are required to dassify expenses as Cleaning
Expenses, Administrative Expenses and Finance Costs. Do not use abbntvlations.
Dirt B Gone Income statement for the year anded 31 March 2021
$
$
aozo
/5 5()
~
!6
ZCETA Accounting Level 2 Achievement Stan~ard 911 (~.3) ~ : : : = 1 o f this resource.
NZCETA has approval from NZQA to use their matenals m the
$
.:STION lWO
efer to the Resource when answering all parts of this question.
:a) Complete the general journal entry for Dirt B Gone to record the Home Show expenses paid in
advance, $2,760 including GST.
31/03/21
Home Show expenses paid in advance.
(b) Complete the general journal entry for Dirt B Gone to record the Dividends Received owing $200.
31/03/21
ZtJC
Dividends Received owing
(c) Complete the following general ledger account showing entries at 31 March 2021 induding dosing
entry where relevant.
Dividends Received
31/03/21
111111r.- NZCETA
~
CETA Aa;oooling Level 2 A,chieYement Standard 91176 (2.3)
2021
bas ~ a l m,m NZQA to me their ma,ials in th,, deulu;:,,_. ulthil resource.
Using information from the Resource
1 th e statement of Financial Position (extract) for Dirt
B Gone as at 31 March 2021.
'compete
Dirt B Gone Statem ent of F'manc1al
. Position (extract) as at 31 March 2021
$
$
Current Assets
50
o 1~soo
(e) Complete the following general ledger account showing entries at 31 March 2021 induding dosing
entry where relevant.
Drawings
31/03/21
30. r;tJO
I
I
(
CETA Accodlling Level 2 Achievement Standard 91176 (2.3) Assessment 2021
NZCETA bas appn,Yal from NZ0A to use their mallerials in the development of this resource.
5
(f) Using information from the Resource, complete the Statement of Financial Position (extract) for Dirt
B Gone as at 31 March 2021.
Dirt B Gone Statement of Financial Position (extract) as at 31 March 2021
Equity
. rJi CJO
3a. 00 0
Closing capital
.~·---M~01 111; 12 31 Assessment 2021 . .
JESTION THREE
Refer to the Resource to answer parts (a)_ (d)
(a) Complete the general journal ent f
.
Vacuum Cleaners (Cleaning E _ry or D,rt B Gone to record the invoice on hand for new Robot
qu,pment) $4,830 including GST.
31/03/21
[;,I ZtJ6
630
Invoice on hand for new Robot Vacuum Cleaners
(b) Complete the following general ledger account showing entries at 31 March 2021 induding dosing
entry where relevant.
Depreciation Cleaning Equipment
31/03/21
(J(JO
TA Accounting Level 2 Achievement Standard 91176 (2.3) Assessment 2021
_
th · _ _._rial5 in the development ol t111s ,esource.
CE ''
NZCETA has approval from NZQA to use eir ""'""
7
•) Complete the following extracts from the notes to the financial statements for Dltt B Gone.
Dirt B Gone Notes to the financial statements (extract)
Property, plant and equipment (extract)
Cleaning
Equipment
For the year ended 31 March 2021
tJ(}
t,,tl
Investment Asset
3
<10
1
I
\d) Complete
th e fallowing
. general led
cl ·
osing entry where relevant.
ger accoont showing entries as al 31 March 2021 indudinQ
Accounts Payable
31/03/21
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During April 2021 , Dave had the fol/owing information ab<>UI Dirt B Gone:
d/J!< P
• An invoice on hand from his cleaning product suppliers, totalling, $1 ,830 including GST.
ll
• Dave decided to fit out his deaning vehicles with she/VOS so cleaning product supplieS could be
conveniently stored on boanl. The cost of this fit out was $9,660 including GST, with a 20%
non-refundable depOSil tt,at had to paid immediately. Dave was sent an invoice tor the completed jot>
• On
18 April.
April, oave
on 12
~(} retumed some carpel deaning products to the suppliers as they were 1avender
scented instead of rose scented, he received a credit note of $450.
• Hwas recorded in
that the discount received for April was $275.
• On 30 April, the balance of Accounts Payable was $4,500 (dosing balance of Accounts Payable)
• The opening balance of Accounts Payable as at 1 April 2021 is the closing balance you calculated
earlier in the Accounts Payable /edger in (d) aboVe- In other words, the dosing balance of Accounts
xe,o
Payable on March 31.
Calculate the cash paid to accounts payable during April 2021 using relevant information from above.
(e) Show and fully label all your workings. Only labelled working will be marked.
:f
{ ~a!>
tw>:
f
Cash paid to Accounts Payabl $
- .
. -~ nH 7 1: I? ,.,
6.J q67
Assessment 2021