These are new fictional files. Try each check before the teacher shows the separate worked key. They are public by URL and not secure school instruments. A teacher may neutrally read numbers, change presentation or extend time while recording support; content prompting changes what the first response can show. No family financial information or investment decision is requested. Figures are AUD, simplified, and omit GST/tax/depreciation. Show units and a brief reason, not just a number.
Day 5 Check A · Nova Repair (File G)
New File G. Nova Repair is a sole-trader bicycle-service business. At one date it has business cash $7,600, business equipment $4,200 and accounts receivable $1,100. It owes a bank $3,500 and suppliers $900. The owner also has a personal phone worth $800 kept for private use and not contributed to the business. A supplier asks whether Nova can meet next month's bills. No bill due dates, future customer payments or trading results are supplied.
- Classify each business amount as asset or liability. Explain receivable versus payable in one sentence. Where does the private phone belong for this case?
- Compute total assets, total liabilities and owner's equity; show the accounting equation.
- Explain why the sole trader is not a company shareholder in this arrangement. Give a careful one-sentence liability statement.
- Write two sentences to the supplier: one fact the accounts show, and one reason these balances alone do not answer the next-month payment question.
Self-check before handing in: Did you exclude personal property and avoid turning a current balance into a future guarantee?
Day 10 Check B · Harbour Print Studio (Files H and I)
New File H. Harbour Print Studio is a sole-trader design-service business. It sells design layouts, not printed goods in this period. Opening business cash and equity are each $1,600; there are no other opening balances. It provides design services worth $1,500: clients pay $900 now and owe $600. Operating expenses incurred are $700: $500 paid and $200 owed. Assume no GST, tax, depreciation, drawings, new capital, other income/expenses or investing/financing cash flows.
New File I. Baybird Supply Ltd is a fictional unlisted public trading company at one date. It has cash $5,000, receivables $2,000, inventory $3,000, equipment $10,000, supplier payables $2,000 and a loan $6,000. There are no other balances or profit figures. Do not treat this as an actual report or share recommendation.
- For H, calculate net profit and net cash from operations. State the Statement of Profit or Loss and Statement of Cash Flows inputs separately.
- For H, calculate closing cash, closing receivables, closing payables and closing owner's equity. Check the Statement of Financial Position equation at the closing date. Explain in one sentence why profit and net operating cash differ.
- For I, total assets, liabilities and shareholders' equity. Compare two account categories that H and I can both have, then name two differences in ownership/activity/account labels. Can I's balances alone show that its shares are a good investment? Explain.
- Write a three-sentence note to a potential investor: one supported observation about I, one missing performance or cash-flow fact, and one provenance check you would perform on a real company report from the current-source slot.
Self-check before handing in: Profit is earned minus incurred; operating cash is received minus paid. A larger asset total alone is not a recommendation.