FAC3761
ASSIGNMENT 2
SEMESTER 1
2020
, QUESTION 1
(a) SAFEWORKS LTD
General journal DR CR
31 March 2020 1 935 000
Trade receivables [(1 800 000 + 350 000) ∗
90%] (SFP)
Revenue (1 935 000 − 193 500) (P/L)
1 741 500
Allowance for settlement discount (SFP)
193 500
31 March 2020
Asset for right to recover tablets to be returned 540 000
(𝑆𝐹𝑃) (12 000 ∗ 45)
540 000
Inventory (SFP)
(b) SAFEWORKS LTD
GENERAL JOURNAL
Revenue (P / L) (24 000 ∗ 1.25) 30000
Trade receivables (SFP)
30000
Inventory (SFP) 24000
Cost of Sales (P / L) 24000
ASSIGNMENT 2
SEMESTER 1
2020
, QUESTION 1
(a) SAFEWORKS LTD
General journal DR CR
31 March 2020 1 935 000
Trade receivables [(1 800 000 + 350 000) ∗
90%] (SFP)
Revenue (1 935 000 − 193 500) (P/L)
1 741 500
Allowance for settlement discount (SFP)
193 500
31 March 2020
Asset for right to recover tablets to be returned 540 000
(𝑆𝐹𝑃) (12 000 ∗ 45)
540 000
Inventory (SFP)
(b) SAFEWORKS LTD
GENERAL JOURNAL
Revenue (P / L) (24 000 ∗ 1.25) 30000
Trade receivables (SFP)
30000
Inventory (SFP) 24000
Cost of Sales (P / L) 24000
