ACTBAS1/ACCTBA1 GROUP BUSINESS CASE 2nd Term, AY 2013-2014 Source Accoun!"n# Pr"nc"$%e& '!( Ed"!"on) *e+#,nd!

, -"e&o, -"mme% .o(n *"%e+ / Son& 0A&",1 P!e 2!d) BYP3-4, page 136 [Modified] Goodwill Entertainment Center was esta lis!ed on "pril 1, #$13 % &essa del Mar' &essa is a good manager (t a poor a))o(ntant' *rom t!e trial alan)e prepared % a part-time oo++eeper, &essa prepared t!e following in)ome statement for t!e %ear ended Mar)! 31, #$13' Good3"%% En!er!,"nmen! Cen!er ,n)ome -tatement *or t!e Year Ended Mar)! 31, #$13 .ental ,n)ome E0penses 1ages E0pense "d3ertising E0pense .epairs and Maintenan)e 5tilities E0pense 6epre)iation E0pense 7otal e0penses ;et in)ome P #/,2$$ 4,#$$ 4,$$$ /$$ 2$$ P 84$,9$$: 4/,3$$ P /$,$$$

&essa t!o(g!t t!at somet!ing was wrong wit! t!e statement e)a(se net in)ome !ad ne3er e0)eeded P#$,$$$ in an% one %ear period' <nowing t!at %o( are an e0perien)ed a))o(ntant, s!e as+s %o( to re3iew t!e in)ome statement and ot!er data' Yo( first loo+ at t!e trial alan)e' ,n addition to t!e a))o(nt alan)es reported a o3e in t!e in)ome statement, t!e ledger )ontains t!e following additional sele)ted alan)es on Mar)! 31, #$13' -(pplies on =and P 6,#$$ Prepaid ,ns(ran)e 9,#$$ ;otes Pa%a le 1#,$$$ Yo( t!en ma+e in>(iries and dis)o3er t!e following? 1' #' 3' 4' 4' 6' .ental in)ome in)l(de ad3an)ed rentals for s(mmer o))(pan)%, P14,$$$' 7!ere were P1,9$$ of s(pplies on !and on Mar)! 31, #$13' Prepaid ins(ran)e res(lted from t!e pa%ment of a one-%ear poli)% on &an(ar% 1, #$13' 7!e mail on "pril 1, #$13 ro(g!t t!e following ills? ad3ertising, P11$@ repairs made on Mar)! 1$, P#6$@ and (tilities, P12$' 7!ere are fo(r emplo%ees w!o re)ei3e wages totaling P3$$ per da%' An Mar)! 31, #$13, # da%sB wages !a3e een in)(rred (t not paid' 7!e notes pa%a le is a 3-mont! 1$C note dated &an(ar% 1, #$13' - ne0t page -

-#INSTRUCTIONS 1) 2) 3) Prepare t!e ne)essar% adD(sting Do(rnal entries as of Mar)! 31, #$13' *or ea)! adD(sting entr%, e0plain to &essa t!e parti)(lar generall% a))epted a))o(nting prin)iple8s: t!at s(pports it' Prepare t!e )orre)t 8adD(sted: in)ome statement for Goodwill Entertainment Center for t!e %ear ended Mar)! 31, #$13'

CASE OUT2INE I) Introduction 8Pro3ide a rief introd()tion a o(t t!e )ase' Ane to two pages onl%: II) Report 87!is is t!e (l+ of %o(r paper: III) Recommendation 8.e)ommendEs(ggest to &essa some important steps s!e !as to (nderta+e in t!e f(t(re to a3oid t!e sit(ation s!e is presentl% in: 4OR5AT 011 021 031 041 061 071 081 0'1 Paper siFe? 2'4G 0 11G 8letter siFe or s!ort-siFe: Margin? 1G for all sides *ont and font siFe? "rial 11 Paragrap! alignment? &(stified Paragrap! spa)ing? 6o( le-spa)ed Hengt! of written report? 4 I 1$ pages, e0)l(ding )o3er page ;o need for folder 7!e )o3er page s!o(ld e as follows? GOO9*I22 ENTERTAIN5ENT CENTER " (siness )ase presented to t!e "))o(ntan)% 6epartment ,n partial f(lfillment of t!e )o(rse re>(irements in "C7B"-1 -(rname, *irst name, M',' -(rname, *irst name, M',' -(rname, *irst name, M',' 8arranged alp!a eti)all%: -e)tion 6ate

9e,d%"ne T:-9ecem;er 10, 2013 5*- 9ecem;er 17,2013

- End -