ACCT 5930 Fremantle Fisheries(FF) operates a fleet of fishing boat out Computerised shipping documents Fremantle Fisheries(FF) operates a fleet of fishing boat out of three ports in Western Australia â€“ Fremantle, Bunbury and Geraldton. Each port has its own fishing fleet and all seafood caught is sold through the Fish Marketing Board, a board established by the state government. The accounting procedures for all sales to the Board are centralised and handled by a computerised accounting system at FFâ€™s head office in Perth. The majority of the companyâ€™s employees work on the fishing boats, and are paid bonuses from head office, depending on the volume, type and quality of seafood caught. This means that head office must be able to identify the source of each shipment sent to the Board. John Dorey, who was originally based in Geraldton and handled the accounting procedures at Geraldton before computerisation, is now based in Perth as manager of the computerised accounting system. His father and two sisters are still based in Geraldton and work for the company on the fishing boats, as do many friends of the family. Shipping documents are sent to the Perth head office from all three ports, and the sources of the shipment is clearly marked in the top right-head corner of the documents. Occasionally, however, details of the source are missing, and it is not easy to trace the source quickly. Dorey, in his capacity as manager of the system, is keen to keep the system fully operational and up to date, and has instructed the keyboard operator to insert any one of three Geraldton source codes, namely those of his father and two sisters, whenever the source code is missing from the shipping document. The keyboard operator knows that the codes given are those belonging to his bossâ€™s family, but nevertheless complies with the request for fear that noncompliance may lead to his own dismissal. Required A, who are the stakeholders in this situation? B, what are the ethical issues involved here as a result of Doreyâ€™s request and the action taken by the keyboard operator? C. if you were the keyboard operator, what action (if any) would you take to prevent this situation occurring? Why? Schutz Building Services financial statements Schutz Building Services is a fast-growing business in the housing industry. Johan Schutz started the business 3 years ago and has worked hard to establish the firm. Johan has no accounting knowledge and simply keeps his invoices and receipts in a shoebox that he takes to his accountant once a year to be sorted out and turned into financial statement for tax purpose. Johan does not use the financial statements for decision making. So long as he has cash in the bank, Johan is satisfied with how his business is operating. Unfortunately, Johanâ€™s accountant has suddenly left the country and retired to South America. Johan is negotiating a contract with a supplier of building materials who wants to see his financial statements to ensure that Johan can meet his last payments each month. Johan has asked you to prepare financial statements. Based on his last tax return and the contents of his shoebox for this year, you have established the following items: Cash in the shoebox (with the receipts and invoices) $ 500 Cash in the bank account 3 800 Building services provided 550 000 Amounts owed by customers 80 000 Wages paid to employees 150 000 Wages owed to the employees 3 500 Equipment 68 000 Building supplies used 310 000 Building supplies on hand 18 000 Amounts owed to suppliers 30 000 Motor vehicle 32 000 Motor vehicle expenses 5 600 Electricity and telephone expense 4 000 Cash used by Johan for personal expenditure 5 700 Required A. Using the information above, provide an income statement and a balance sheet in narrative form for Schutz Building Service for the current period. B. How would the financial statements you produce help the supplier of building materials decide whethe
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