ABKN146 - Financial Statements Assessment 2026 | The Career Academy NZ

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Published: 16 Feb, 2026

Category	Assignment	Subject	Financial
University	The Career Academy NZ	Module Title	ABKN146 - Financial Statements

ABKN146 Assessment - Financial Statements

Financial Statements

Read through the requirements below and complete all parts of the assessment and then save your work as either a Word document or a PDF file. Once you have saved your work click on the Assessment submission link within this topic and upload your completed assessment to your tutor for marking.

Part A - Inventory

You are the bookkeeper for Pants n Prints Limited (PnP), which is a retail store in the lower North Island. PnP uses the periodic inventory method. It is the end of the 20X7 financial year and you are responsible for preparing the financial statements.

You have collated the following information to assist you in calculating the cost of goods sold:

The opening inventory at 1 April 20X6 was $23,800.
PnP has conducted a stock take and the stock on hand as at 31st March 20X7 is as follows:

Item	Number of units	Weighted Average cost per unit	Total
Floral Print Pants	130	37.00	4,810
Animal Print Pants	50	24.00	1,200
Art Deco Pants	260	29.00	7,540
Batik Pants	90	41.00	3,690
Striped Pants	40	23.00	920
Calico Pants	170	15.00	2,550
Total			20,710

You have printed the relevant cost of sales ledgers for the year and these are included below:

Purchases

Month	Account	Amount ($)
April	Accounts Payable	8,633.00
May	Accounts Payable	7,800.00
June	Accounts Payable	9,100.00
July	Accounts Payable	5,900.00
Aug	Accounts Payable	6,700.00
Sept	Accounts Payable	5,500.00
Oct	Accounts Payable	6,000.00
Nov	Accounts Payable	9,000.00
Dec	Accounts Payable	9,200.00
Jan	Accounts Payable	6,000.00

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