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General Information
This assignment requires you to use double entry manual recording and computer accounting
software (XERO) for a small business. It covers many of the common transactions of everyday
business in Australia, including Goods and Service Tax (GST). It is not meant to be a data entry
exercise. You are required to carefully understand each transaction, double entry of it and how the
software records them in ledgers and how reports are created.
You must strictly follow the assignment guidelines and must use the XERO education
version (the access given by the convenor) when recording the data in XERO accounting
package (do not use your own XERO trail version). Otherwise, your assignment will not be
considered for marking, as the convenor does not have the access to your selected XERO
trail versions.
Specific Information
Sea Surf (ABN 65 992 718 643) is a retail and wholesale surf shop, owned and operated by Billy
Bond. The business is located at No 4, 1st View Street, Surf Paradise, which is a seaside town
famous for surfing. The shop has a nautical atmosphere and is very well organised. Products consist
of surfboards, boogie boards and Surfing Manuals. Sea Surf also sells second-hand surfboards on
commission. Sea Surf also sells products to surf shops around the coast. The business is registered
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for GST and therefore charges GST 10% on all inventory sales and surf lessons, and pays GST 10%
on inventory purchases, fixed asset purchases and most of the business expenses.
IMPORTANT: When establishing the business name for the assignment, record your name and
then Sea Surf. (example; ‘Johnking Sea Surf’)
Employees:
Sea Surf employs two casual assistants, Brian Jardine, works as a surfing instructor and Carl Holland
who works in the shop selling stock, and taking bookings for surf lessons. Billy pays both Brian and
Carl $30 per hour. Each employee works between 10 to 15 hours per week, depending on the season
and demand. Payday is every second Wednesday.
At the end of February, Sea Surf owed 5 hours pay to both Brian and Carl. PAYE tax for each
employee should be $6 per hour. Wages expenses is not subjected to GST
Attachments:
3086793_1_ACC60006-Marking-Rubric–Part-B–s1-2019–1729524788.xlsx
3086793_2_ACC60006-Marking-rubric-part-A-s1-2019-560443195.docx
3086793_3_Sea-Surf-Group-Assignment-Sem-1-2019–898809589.pdf
3086793_4_Sea-Surf-s1-2019-xero-instructions-47345616.pdf
3086793_5_Sea-Surf-Excel-Accounts–1051342227.xls

The individual assignment will assess students on the following learning outcomes:
1. Demonstrate an understanding of the Australian income tax system, the
concepts of income and deductions, CGT, FBT, GST general anti-avoidance
provisions and income tax administration. (ULO 1)
2. Identify and critically analyse taxation issues. (ULO 2)
3. Interpret the relevant taxation legislations and case law. (ULO 3)
4. Apply taxation principles to real life problems. (ULO 4)
Individual Assignment Specifications
Purpose:
This assignment aims at assessing students on the Learning Outcome from 1 to 4 as mentioned above.
Assessment task:
Question 1 (10 marks)
Your client Helen wants to fund her business as a fashion designer, therefore she has sold some of the assets
as follows:
1- An antique impressionism painting Helen’s father bought in February 1985 for $4,000. Helen sold the
painting on 1 December 2018 for $12,000. (2.5 marks)
2- Helen sold her historical sculpture on 1 January 2018 for $6,000. She has purchased the piece on
December 1993 for $5,500. (2.5 marks)
3- An antique jewellery piece purchased in October 1987 for $14,000. Helen sold the antique jewellery
piece on 20 March 2018 for $13,000. (2.5 marks)
4- Helen sold a picture for $5,000 on 1 July 2018. Her mother purchased the picture in March 1987 for
$470. (2.5 marks)
Advise the Capital Gain Tax consequences of the above transactions.
Question 2 (5 marks)
Barbara is an economist researcher and commentator. The Eco Books Ltd offers her $13,000 for writing a book
about economics principles. Barbara has never written a book about economics principles, but accepts the
offer and writes the economics book called ‘Principles of Economics’. She assigns the book’s copyright for
$13,400 to The Eco Books Ltd. The book is published and she is paid. She also sells the book’s manuscript to
the Eco Books Ltd’s library for $4,350 plus several interview manuscripts she has collected while writing the
economics book for which she receives $3,200.
Discuss each of the above payments to Barbara separately and states if these are income from Barbara’s
personal exertion. (2.5 marks) Would your answer differ if Barbara wrote the Principles of Economics’ book
before signing a contract with The Eco Books Ltd in her spare time and only decided to sell it later? (2.5
marks) Support your answer by referring to relevant statutory and case law.
Question 3 (5 marks)
Patrick paid $52,000 to his son David to provide some assistance in his newly started business. They agreed
that David repay his father $58,000 at the end of five years. Patrick provided this loan to David without any
formal agreement or security deposit for the sum lent. Patrick told his son that he need not pay interest.
However, David repaid the full amount after two years through a cheque, which was included an additional
amount equal to 5% on the amount borrowed.
By referring to relevant statutory and case law, you need to discuss the effect of these arrangement on the
assessable income of Patrick. (5 marks)
Page 3 of 5
HI6028 Taxation Theory, Practice and Law Individual Assignment T1 2019
Assignment structure should be as the following (students responses involves calculations, and
students must refer to the relevant legislation and cases whenever required according to the
questions).
Attachments:
3086812_1_HI6028-Individual-Assignment-T1-2019.pdf

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Assignment for Submission
Subject: BUACC 5901, Semester 1, 2019
This is a Group Assignment.
All questions must be completed.
Question 1.
Transurban is a company that primarily builds Toll roads in Australia and overseas.
The 2018 Annual report for the Company is provided at the following address
https://www.transurban.com/about-us/reporting
Using the 2018 annual report to compare the financial results of the company between
2017 and 2018. You should use any financial information provided in the 2018 report
(including ratios, and narratives) to conclude on the improvements or not in financial
position and profitability. Your discussion should focus on reasons for any improvement
or not (the group financial statements appear on Page 54 of the report).
What other information would you need to make an assessment of Transurban?
Word Limit 1000 words, Marks = 40
Question 2.
The 2018 FY18 UN Sustainable Development Goals progress report is provided at the
following address
https://www.transurban.com/content/dam/transurban-pdfs/01/sustainabilityreports/FY18-Sustainability-Report-SDG.pdf
Use this information to explain how Transurban is meeting the UN Sustainable
Development Goals (SDGs). What is your opinion of these initiatives?
Word Limit 750 words, Marks = 30
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Question 3.
The Unadjusted Trial Balance For Swan Jet Ski Hire As At 30 June 2019 is below:
Debit Credit
Cash at bank $8,950
Accounts receivable 6,915
Prepaid insurance 5,685
Marine supplies (1/7/2018) 1,235
Jet Skis 121,500
Accumulated depreciation – jet skis $48,000
Office equipment 3,150
Accumulated depreciation – office equipment 1,335
Accounts payable 8,895
Bank loan 37,500
Unearned rental revenue 1,260
D Swan, capital 47,535
D Swan, drawings 12,450
Rental revenue 54,405
Salaries expense 22,800
Repairs and maintenance expense 3,945
Marine supplies expense 10,200
Utilities expense 2,100
Totals 198,930 198,930
Additional information:
1. Depreciation on the jet ski fleet for one year is $13,000. Depreciation on the
office equipment is $600.
2. Expired insurance amounted to $4,950
3. A physical stocktake has determined that marine supplies on hand amounted to
$600.
4. The balance in the unearned rental revenue account includes $253 for services
provided on 27 June 2012.
5. Salaries earned but not paid amounted to $1,720.
6. Accrued interest on the bank loan is $3,560
7. Repairs on one jet ski performed in June for $850 have not yet been paid or
recorded.
8. Utilities for June of $275 have not been paid for or recorded at 30 June 2019.
Required:
(a) Prepare an Income Statement for the year ended 30 June 2019.
(b) Prepare a fully classified Statement of Financial Position as at 30 June 2019.
(10 + 15 = 25 marks)
Presentation (including proper referencing) (5 marks)
Total Marks = 100
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BUACC5901, Group Assignment Marking Scheme
Names: Student Numbers:
Bases of assessment Marks Possible
Question 1
Comparing the financial results of the Transurban group
from 2017 to 2018.
Use of key results (and their explanation) including ratios
and narrations (15 marks).
Discussion on the improvements or not in financial
position and profitability, and reasons (15 marks).
What other information would you need to make an
assessment of Transurban? (10 marks)
/ 40
Question 2.
Examination of how Transurban is meeting the UN
Sustainable Development Goals (SDGs) (10 marks)
How do you rate the sustainability of Transurban? (20
marks).
/ 30
Question 3
Presentation and Accuracy of all parts
/ 25
Overall Presentation – including cover page, line
spacing, page numbering, referencing.
/ 5
Total / 100
Attachments:
3086819_1_BUACC5901Assignment-sem-1-2019.pdf
3086819_2_New-folder.zip

Michelle’s Monopoly Mutant Turtles (MMMT) has the exclusive right to sell Mutant Turtle t-shirts in the United States. The demand for these t-shirts is Q ? 10,000/P 2 . The firm’s shortrun cost is SRTC ? 2000 ? 5Q, and its long-run cost is LRTC ? 6Q. a. What price should MMMT charge to maximize profit in the short run? What quantity does it sell, and how much profit does it make? Would it be better off shutting down in the short run?What price should MMMT charge in the long run? What quantity does it sell and how much profit does it make? Would it be better off shutting down in the long run?
c. Can we expect MMMT to have lower marginal cost in the short run than in the long run? Explain why.

The Coffee Bean and Tea Leaf company has several weaknesses under their control, but also a few strengths which completely outweighs the negative. While most coffee retailers, such as Starbucks, offer a department store type of feel by quickly serving customers in a get-in, get-out fashion, there is a growing market for more warm, cozy, and relaxing cafes (ReComparison, 2012). This is one of Coffee Bean and Tea Leaf’s greatest strengths, by presenting itself as a boutique style café appealing to those seeking the personal touch they offer. In a world full of similar coffee’s, Coffee Bean and Tea Leaf represents originality in the industry by attracting millennials need for self-identity. Another prodigious strength Coffee Bean and Tea Leaf has is remaining a privately held company, so as to better manage its coffee bean sourcing and commitment to quality for its customers benefits. By having total control, enhancing the quality of products they offer has become instrumental to their business model, and rightfully so. As Coffee Bean and Tea Leaf is considered a mid-sized specialty coffee retailer, the quality and variety of beverages allows them to sit comfortably between “big” coffee and “hip” coffee companies and compete (Erica, 2017). By remaining a privately held company, Coffee Bean and Tea Leaf is able to quietly yet steadily grow the brand across the globe, with the most recent developments being in North America from Asia.
The weaknesses Coffee Bean and Tea Leaf endures are troubling, however there are constant changes being made to ensure the company is adhering to their commitment to quality and target markets. The first weakness Coffee Bean and Tea Leaf suffers from is a lack of wide target markets, as instead they prefer to appeal most notably to millennials. If targeting primarily millennials, the company will lose potential market share from many other consumer demographics. The appeal of hand-crafted coffee is not restricted to only younger demographics, and Coffee Bean and Tea Leaf is essentially limiting their growth potential in doing so. Also, millennials and younger demographics typically have less spending power, so even if marketing to a young consumer is successful, they may not necessarily purchase anything regardless of cost. With this diminished spending power comes cost-conscious coffee decisions, introducing new competitive forces such as food chains offering a $1 cup of coffee, as is the case with McDonalds, Jack In The Box, and Carl’s Jr. Another weakness the Coffee Bean and Tea Leaf has is its franchisee’s policy, which significantly limits its potential for exponential growth and increased competitiveness. Their current policy has a very stringent list of requirements, inhibiting ambitious owners from “trying out” a Coffee Bean and Tea Leaf store (Gleeson, 2019). Franchisers must have a substantial amount of experience in operating food and beverage stores, with roughly $3 to $5 million in working capital to open the 15 or more stores required (Gleeson, 2019). The days of single franchise locations and fading out as companies embrace multistore owners. Due to these reasons, Coffee Bean and Tea Leaf has restricted itself from acquiring more investors and brand recognition to the masses. To Coffee Bean and Tea Leaf, however, the benefit of identifying only the highest qualified individuals to preserve the company’s brand name and commitment to quality outweighs the negative franchise policy requirements.
Competitive Analysis:
Within the boutique coffee and tea retail industry are several major competitors such as Starbucks, Seattle’s Best Coffee, Dunkin’ Doughnuts, Peet’s Coffee and Tea, and finally The Coffee Bean and Tea Leaf. In comparison to our target market in Canada, the major competitors are Starbucks Coffee Canada, Tim Hortons, and The Second Cup. It may seem as though the Canadian market is not as competitive, but Tim Hortons retains about four times the coffee market share of Starbucks in the country, signifying a large hurdle to overcome. The prices charged by each key competitor in both markets can be seen in the following table. To keep prices relative, the baseline coffee product and price used is a medium vanilla latte for comparison.
Attachments:
3086891_1_Some-Analysis-of-Coffee-Bean.docx
3086891_2_Content-of-the-Course-Paper–1-.docx