Assessment Task – Tutorial Questions
Unit Code: HI5001
Unit Name: Accounting for Business Decisions
Assignment: Tutorial Questions 1
Due: 11:30pm 29th May 2020
Weighting: 25%
Total Assignment Marks: 50 marks
Purpose: This assignment is designed to assess your level of knowledge of the key topics covered in
this unit
Unit Learning Outcomes Assessed:
1. Analyze how various transactions will affect the accounting equation, the balance sheet, and the
income statement and communicate this to a range of stakeholders;
2. Apply, analyze, synthesize and evaluate information from multiple sources to make decisions
about the financial performance of entities including assets, liabilities, owner’s equity, revenue
and expenses;
3. Employ information technologies to analyze transaction data and financial statement to facilitate
data-driven decision-making;
4. Assess the impact of taxation and other liabilities, relevant legislation and industry codes of
practice on business and define management strategies.
Description: Each week students were provided with three tutorial questions of varying degrees of
difficulty. These tutorial questions are available in the Tutorial Folder for each week on Blackboard.
The Interactive Tutorials are designed to assist students with the process, skills and knowledge to
answer the provided tutorial questions. Your task is to answer a selection of tutorial questions for
weeks 1 to 5 inclusive and submit these answers in a single document.
The questions to be answered are:
Week 1
Evaluate the statement “Accounting is all about numbers.”. Using the definition of accounting to
justify your answer. (10 marks, maximum 250 words)
Week 2
Financial data for Safety Hire as of 30 June 2019 are:
Required:
Prepare an income statement for the month of June and a balance sheet in account format for Safety
Hire as at 30 June 2019. (10 marks)
Week 3
On 1 July 2018 Nicole Andreou opened a beauty parlour. The following transactions occurred during
the first month of operations (ignore GST).
