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question 1a) List 5 stakeholders of a business (both internal and external). (approx. 80 words)b) Explain the stakeholders' interest in the financial information. (approx. 240 words) question...

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question 1a) List 5 stakeholders of a business (both internal and external). (approx. 80 words)b) Explain the stakeholders' interest in the financial information. (approx. 240 words)
question 2a) Discuss the concept of accounting and its relationship with, and influence on, the general community. (Hint: refer to the following readings, Hines, 1991; Chu, 2016; Wright, XXXXXXXXXXapprox. 300 words)b) What is the GRI? (approx. 80 words)c) In your own words explain sustainability reporting, listing the 3 components.(Hint: refer to the Global Reporting Initiative - GRI). (approx. 230 words)d) Select a sustainability report as an example to support your explanation. Explain why you chose the particular company's report. Please include a web reference not the full report. (approx. 100 words)
question 3a) Discuss the accounting cycle and the purpose of each step. (approx. 100 words)b) Journalise the following business transactions for the month ended on 28 February 2018 for Luck-Key Ltd in general journal form. Identify each transaction by number.1. Shareholders invest $35,000 in cash in starting a real estate office operating as a company.2. Purchased $400 of office supplies on credit.3. Purchased office equipment for $6,000, paying $2,500 in cash and the remainder of $3,500 on credit.4. Real estate commissions invoiced to clients amount to $4,000.5. Paid $700 in cash for the current month's rent.6. Paid $200 cash on account for office supplies purchased in transaction 2.7. Received an account for $500 for advertising for the current month.8rt Paid $2,200 cash for office salaries.9. Paid $1,200 cash dividends to shareholders.10. Received a cheque for $3,000 from a client in payment on account for commissions invoiced in transaction 4.c) Post the journal entries into the general ledger, assuming the business was started on the 1st February 2018.d) Prepare a trial balance, the statement of profit or loss, the statement of changes in equity, the statement of financial position, for Luck-key Ltd.
Answered Same Day May 09, 2020 MPA701 Deakin University

Solution

Ashish answered on May 10 2020
139 Votes
Solution-1
(a) The five stakeholders of the business are as follows:
1. Employees: The employees are the major internal stakeholders of the company who works for the remuneration.
2. Owners: The owners are the individual who owns the company like shareholders and partners.
3. Suppliers: Suppliers are the major stakeholders for providing inputs like raw material etc.
4. Customers: Customers are one of the valuable stakeholders of the company because they are the ultimate users of product.
5. Creditors: Creditor provides funds to the company like bank or financial institution.
(b) Stakeholders are one of the important influences of the...
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