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LANG0050
ESSENTIAL LITERACY FOR CONSTRUCTION PROFESSIONALS II
2024
STUDENT RESPONSE BOOK
ASSESSMENT 3
08
Fall
LANG0050 Essential Literacy for Construction Professionals II 2023
Last amended:
February 2023
ACKNOWLEDGEMENTS
Contributor: Lauren Champion
© Western Sydney University Enterprises Pty Limited 2023
Except as provided by the Copyright Act 1968, no part of this publication may be produced, stored in a retrieval system or transmitted in any form or by any means without the prior written permission of Western Sydney University Enterprises Pty Limited.
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Students must not record lectures or tutorials via any technology unless they obtain the express consent of the lecturer prior to the lecture being given.
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If you buy or use this publication you should understand clearly that it has been produced solely for learning purposes. While the author and Western Sydney University Enterprises Pty Limited have made every effort to ensure that the material in this publication is accurate and of high quality, you are expressly advised that you should not rely on the contents of this publication in order to make decisions having legal, accounting, property, financial, investment or similar consequences or for any purpose other than learning. For any purposes other than learning you should first obtain the advice of an appropriately qualified professional. The author and Western Sydney University Enterprises Pty Limited disclaim any liability to any person, whether a student or otherwise, in respect of anything, and the consequences of anything, done or omitted to be done by any such person in reliance, whether wholly or partially, on the whole, or any part of, or omission from, the contents of this
publication. © Western Sydney University Enterprises Pty Limited 2023
2
LANG0050 Essential Literacy for Construction Professionals II 2023
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LANG0050 Essential Literacy for Construction Professionals II 2023
Table of contents
LANG0050 ESSENTIAL LITERACY FOR CONSTRUCTION PROFESSIONALS II
..................................
4
Assessment 3: Construction report
..........................................................................................
4
The task
...................................................................................................................................
5
© Western Sydney University Enterprises Pty Limited 2023
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Required information
[The following information applies to the questions displayed below.]
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31 for Year 1 and
Year 2.
December 31
Cash
Accounts receivable
Office supplies
Office equipment
Trucks
Building
Land
Accounts payable
Note payable
Equity, December 31, Year 1
Add: Owner's investment
Less: Dividends
Equity, December 31, Year 2
Year 1
$ 52,692
28,602
F2
4,512
138,498
54, 196
0
0
75,195
0
2. Compute net income for Year 2 by comparing total equity amounts for these two years and using the following information: During
Year 2, the owner invested $36,000 additional cash in the business in exchange for common stock, and the company paid a $37,200
cash dividend.
C
#
$
65
Year 2
F3
$ 9,883
22,424
3,305
147,527
63, 196
180,667
45,083…
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Exercise 2,2:
Show the effect of each of the named transactions on the assets, liabilities, and owner's
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(decrease), or 0 (no change).
OWNER'S
EQUITY
ASSETS
LIABILITIES
1. Owner invested cash in the business.
2. Purchased equipment on Credit.
3. Borrowed money from the bank
4. Rendered service in cash.
5. Paid creditor (Transaction 2).
6. Paid monthly rent.
7. Rendered service to customer who will pay
at later date
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Harry Potter Feedmill is owned by Harry Potter. Its assets, liabilities and owner's equity are
as follows: Cash, Accounts receivable, equipment, Land, Accounts Payable, and Harry Potter
Capital. Prepare a tabular form and indicate the effect of the following transactions to the
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Expressive Youths is a non-profit youth club in the Corporate Area that engages its members in
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Electricity
Purchase of television
Purchase of paintings
Refreshments, etc.
Stipend for clerk
Stationery
2$
120,000 subscription
60,000 Sale of paintings
320,000 Refreshment, etc. sale
Receipts
300,000
800,000
600,000
280,000
Donations
250,000
200,000
96,000 Other activities
50,000
I.
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()
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X Company: Income Statements for the Years Ending December 31 (Millions of Dollars, Except
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2018
2019
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4250
Operating Costs except depreciation
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3900
Depreciation and amortization
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and taxes
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Capital and Revenue Expenditures
On August 5, GTS Co. paid $3,280 to repair the transmission on one of its delivery vans. In addition, GTS paid $57 to install a GPS system in its van.
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XYZ Co. has provided the following data for the month of June. There were no beginning inventories; consequently, the direct
.materials, direct labor, and manufacturing overhead applied listed below are all for the current month
Work In
Cost of Goods Sold
Finished Goods
Process
61,880
OMR 8,450 OMR
3,440 OMR
Direct materials
119,000
OMR 16,250 OMR
6,160 OMR
Direct labor
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overhead applied
45,000
OMR 6,050 OMR
3,300 OMR
Manufacturing overhead for the month was underapplied by OMR 7,000
The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of
goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts
The cost of goods…
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- Questions are attached in the imagearrow_forwardork Problems Chapter 2 of 3 eBook Print References Mc Graw Hill 9 O8 https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl= ! Required information [The following information applies to the questions displayed below.] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31 for Year 1 and Year 2. December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable Equity, December 31, Year 1 Add: Owner's investment Less: Dividends Equity, December 31, Year 2 Year 1 $ 52,692 28,602 F2 4,512 138,498 54, 196 0 0 75,195 0 2. Compute net income for Year 2 by comparing total equity amounts for these two years and using the following information: During Year 2, the owner invested $36,000 additional cash in the business in exchange for common stock, and the company paid a $37,200 cash dividend. C # $ 65 Year 2 F3 $ 9,883 22,424 3,305 147,527 63, 196 180,667 45,083…arrow_forwardThis module is not for sale and is exclusive for LNU BSEN Students only 18 Exercise 2,2: Show the effect of each of the named transactions on the assets, liabilities, and owner's equity of a business. Fill in each blank under a column and mark with + (Increase), - (decrease), or 0 (no change). OWNER'S EQUITY ASSETS LIABILITIES 1. Owner invested cash in the business. 2. Purchased equipment on Credit. 3. Borrowed money from the bank 4. Rendered service in cash. 5. Paid creditor (Transaction 2). 6. Paid monthly rent. 7. Rendered service to customer who will pay at later date Exercise 2.3: Harry Potter Feedmill is owned by Harry Potter. Its assets, liabilities and owner's equity are as follows: Cash, Accounts receivable, equipment, Land, Accounts Payable, and Harry Potter Capital. Prepare a tabular form and indicate the effect of the following transactions to the items on the equation by placing + (increase) or - (decrease) below the affected item. 1. Owner invested cash in the feedmill.…arrow_forward
- on 13-Exam 1-Chapter X Exam 1-Chapter 10 and 11 13 eBook eztomheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Fnewconnect.mheducation.com%252F#/actie here to search Document Depreciation Book Value P Philo | Let Me Reintroduce Mys X + 2024 2025 You skipped this question in the previous attempt. TB Problem 11-189 (Static) On January 1, 2024, Hobart Manufacturing... 2024 and 2025, 25,000 and 84,000 units, respectively, were produced. On January 1, 2024, Hobart Manufacturing Company purchased a drill press at a cost of $36,000. The drill press is expected to last 10 years and has a residual value of $6,000. During its 10-year life, the equipment is expected to produce 500,000 units of product. In Required: assuming the sum-of-the-years'-digits method is used. Compute depreciation for 2024 and 2025 and the book value of the drill press on December 31, 2024 and December 31, 2025, Note: Round your intermediate calculations and final answers to the…arrow_forwardUsing the mAcrs rates what is book value of $2500 computer after 1 yeararrow_forwardParagraph Styles keep using Word without interruption, activate before Monday, 17 May 2021. Activate Expressive Youths is a non-profit youth club in the Corporate Area that engages its members in the buying and selling of paintings that are sold to public to provide income for the club. For the financial year ending December 31, 2020 the clerical officer of the club provided the following information in relation to the club's activities: Payments Electricity Purchase of television Purchase of paintings Refreshments, etc. Stipend for clerk Stationery 2$ 120,000 subscription 60,000 Sale of paintings 320,000 Refreshment, etc. sale Receipts 300,000 800,000 600,000 280,000 Donations 250,000 200,000 96,000 Other activities 50,000 I. Additional Information: () On January 1, 2020 the club had paintings valued at $350,000., while subscription in arrears at that date was $15,000 On December 31, 2020 the club owed $25,000 for electricity, while $10,000 was paid for stationery that was to be…arrow_forward
- ABC 103 CINDAMENTALS OF ABM 1 ST. ANTHONY'S COLLEGE Business Education Department San Jose de Buenavista, 5700 Antique ARTIBUR Tel. No. (036) S409238; 5400898; 5409971 Tel. No.: (036) 5409196 Website: www.sac.edu.ph Email: Info@sac.edu.ph; bused@sac.edu.ph In SAC, we carel Covid Repair Shop Worksheet Unadjusted Trial Balance Deblt Adjustments Credit Adjusted Trial Balance Debit Income Stateme C Debit Account No. Account Titles Credit Debit Credit 33,450 1,200 15,000 2,000 33,450 1,200 8,500 2,000 1,200 30,000 Cash Accounts Recelvable Repair Supplies Prepaid Rent Prepaid Advertising Repair Tools Accumulated Depreciation-RT Fumiture & Fixtures Accumulated Depreciation-F&F Service Equipment Accumulated Depreciation-SE Accounts Payable Notes Payable Accrued Interest Expense Accrued Salaries Expense Accrued Rent Expense Unearned Repair Revenues Covid, Capital Covid, Drawings Income Summary Repair Revenues Advertising Expense Rent Expense Salaries Expense Utilities Expense Interest Expense…arrow_forwardA SUPPLEMENTARY ASSESSMENT X + 9 x E-leaming Portal Namibia Unive X https://elearning.nust.na/elearn/mod/quiz/attempt.php?attempt3D1039817&cmid%=D261006&page=D19 s/ BAC1200 / General / SUPPLEMENTARY ASSESSMENT (SECOND OPPORTUNITY) Bailey is a Namibian fisherman who works in a newly established organisation called Shimano Manufacturers. This organisation was founded by Mr Sage in late 2012. It specialises in the catching and processing of fresh salmon to manufacture fish cakes for the retail industry across the country. Bailey earns a basic wage rate of N$60 per hour. Shimano manufacturers operate eight hours a day, five days a week, fifty-two weeks per annum. Employees also work one Saturday every month for five hours which is considered a normal overtime remunerated at 1.5 times the normal rate. The organisation's policy is to award employees a birthday bonus of N$10 000. Employees are entitled to twelve days annual leave and there are seventeen public holidays a year. Both the…arrow_forwardnt Aid Home | Federal Student Aid Filling Out the FAFSA® Form F X M Question 6-CH4 Class - Connec X G [The following information appli x p.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launch Url=https%253A%252F%252Fbbhosted.cuny.edu%252Fwebapps%252Fportal%252Ffra S Saved Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item typically would best appear. If an item does not appear on the balance, indicate that instead. Account Title 1. Long-term investment in stock 2. Depreciation expense-Building 3. Prepaid rent (2 months of rent) 4. Interest receivable S 5. Taxes payable (due in 5 weeks) 6. Automobiles 7. Notes payable (due in 3 years) 8. Accounts payable 9. Cash 10. Patents Classification Account Title 11. Unearned services revenue 12. Accumulated…arrow_forward
- Class Specificatio WileyPLUS X myStanState Port Bb Ch 16 WP - 2019 + L- https://edugen.wileyplus.com/edugen/student/mainfr.uni Kieso, intermeaiate ACCounting, 16e INTERMED. ACCOUNTING (ACC 31I0/- Assignment Gradebook ORION Downloadable eTextbook nt CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 16-23 Your answer is partially correct. Try again. On June 1, 2015, Sage Company and Pronghorn Company merged to form Stellar Inc. A total of 876,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis. On April 1, 2017, the company issued an additional 637,000 shares of stock for cash. All 1,513,000 shares were outstanding on December 31, 2017. Stellar Inc. also issued $600,000 of 20-year, 8% convertible bonds at par on July 1, 2017. Each $1,000 bond converts to 44 shares of common at any interest date. None of the bonds have been converted to date. Stellar Inc. is preparing its annual report for the fiscal year ending December 31, 2017. The…arrow_forwardA ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnew Ch 10 Concept Videos i 6 Part 2 of 5 .75 oints eBook Ask Print References Mc Graw Hill Required information Journal entry worksheet 1 On December 31 Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Note: Enter debits before credits. Date Dec. 31 General Journal Cash Discount on bonds payable Bonds payable Record entry Clear entry < Prev. Saved C Debit 139,875 S 678 HCC FIL 9 Credit View general journal of 35 US Narrow_forwardbusn210 final 2020-21 Spring - Word Maria Matyola File Home Insert Design Layout References Mailings Review View Help Foxit Reader PDF O Tell me what you want to do & Share X Cut Times New Roma 12 - A A Aa - 、三、。 T AaBbCcl AaBbC A. AaBb AaBbCcI AaBbCc) AaBbCcC AaB P Find Ee Copy Repla Paste BIU v abx x, x'A- - A - = = = Emphasis Heading 1 1 Heading 3 T Normal Format Painter 1 Strong Subtitle Title A Selec Clipboard Font Paragraph Styles Editin X Company: Income Statements for the Years Ending December 31 (Millions of Dollars, Except for Per Share Data) 2018 2019 Net Sales 4000 4250 Operating Costs except depreciation and amortization 3750 3900 Depreciation and amortization 100 90 Total operating costs Operating income, or earnings before interest and taxes 3850 3990 150 260 Less interest 50 60 Earnings before taxes 100 200 Taxes (25%) 25 50 Net Income 75 150 Total Dividends 25 25 Additional to retained earning 50 125 Calculate Common Stock Price 25 25 Earnings Per Share Dividend Per…arrow_forward
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