ACCT6005 A2 Video question T1 2023.pdf - Adobe Reader X File Edit View Window * 1 13 + 100% Tools Sign Comment Duration: 5 minutes +/- 10% Prepare a video presentation and a script (Word document only) to address each of the following questions. You will be assessed on your technical understanding of each question and also your presentation skills. Please refer to the marking rubric which details the assessment criteria for the communication and presentation skills. Please ensure your presentation does not exceed the 5 minutes +/- 10% time limit. Penalties will apply if exceeded. Script requirements: All scripts must be in word format not pdf. Scripts do not need to be in a business report format, and can be in dot point format. Power point slides are not acceptable as a script. You may use PowerPoint slides in your presentation, however a separate script in a word document, must be submitted. Appropriate referencing is required on all scripts, power point slides and the presentation. Marks will be deducted for missing scripts, inadequate referencing and incorrect file format. Please note: . Headphones must not be worn during the video and will attract an automatic zero mark. Your face must be visible at all times during the presentation. Marks will not be awarded if you read directly from your notes. . Please introduce yourself and show your photographic ID at the start of the presentation Speak slowly and clearly Activate Windows Go to Settings to activate Windows. Type here to search O 31'C Sunny A D1 3 ( 1) ENG 1:02 PM IN 3/16/2023ACCT6005 A2 Video question T1 2023.pdf - Adobe Reader X File Edit View Window * 2 13 + 100% Tools Sign Comment Jenny Jones is the assistant accountant for the Anzac Ltd corporate group. Jenny has recorded the following entries in the consolidation worksheet for the year ended 30 June 2023, using a tax rate of 30%: Transaction 1: Anzac Ltd sold plant to its subsidiary company on 1 July 2022 for $100,000. This plant had a carrying amount of $35,000. The subsidiary plans to use this plant as an item of inventory. This plant was depreciated by Anzac Ltd at a rate of 10% on cost. (8 marks) Suggested time: (3 minutes) Consolidation entry 30 June 2023: Account name Debit ($) Credit ($) Sales 100,000 Cost of goods sold expense 35,000 Plant 65,000 Deferred Tax Asset (DTA) 19,500 Income tax expense (ITE) 19,500 Accumulated Depreciation 6,500 Depreciation expense 6,500 Transaction 2: Anzac Ltd sold inventory for $10,000 to its subsidiary on 30 April 2023. Anzac Ltd had paid $8,000 for this inventory. On 30 June 2023 the subsidiary company undertook a stocktake which Activate Windows reported 100% of this inventory had been sold to external parties for $122,000. (4 marks) Go to Settings to activate Windows. Suggested time: (2 minutes) Type here to search 1:06 PM 31'C Sunny A DI (1)) ENG IN 3/16/2023ACCT6005 A2 Video question T1 2023.pdf - Adobe Reader X File Edit View Window * 2 13 + 100% Tools Sign Comment Depreciation expense 6,500 Transaction 2: Anzac Ltd sold inventory for $10,000 to its subsidiary on 30 April 2023. Anzac Ltd had paid $8,000 for this inventory. On 30 June 2023 the subsidiary company undertook a stocktake which reported 100% of this inventory had been sold to external parties for $122,000. (4 marks) Suggested time: (2 minutes) Consolidation entry 30 June 2023: Account name Debit ($) Credit ($) Sales 10,000 Cost of goods sold expense 8,000 Inventory 2,000 Deferred Tax Asset (DTA) 600 Income tax expense (ITE) 600 (Continued on following page) N Activate Windows s to activate Windows. Type here to search 31"C Sunny A D1 4 (1) ENG 1:06 PM IN 3/16/2023ACCT6005 A2 Video question T1 2023.pdf - Adobe Reader X File Edit View Window * 3 13 + 100% Tools Sign Comment Required: As the group accountant of Anzac Ltd, you are required to review Jenny's worksheet entries. Apply appropriate referencing and technical knowledge to address the following: (a) For each transaction above, identify all errors or omissions by Jenny and explain the reason why the entry is incorrect in accordance with the relevant Australian (International) accounting standards. (b) In your discussion, provide all the correct consolidation worksheet entries required for each of the above transactions for the Anzac Ltd group, as at 30 June 2023. Explain which account and amount will be debited and credited. Include any tax effects in your discussion. You may use excel or power point to help explain your answer in your video. However please ensure that your face is visible for the entire duration of this video presentation. End of assessment Activate Windows Go to Settings to activate Windows. Type here to search 1:06 PM 31'C Sunny A D1 4 (7 1) ENG IN 3/16/2023