(Python exercise using while and for loops – no functions)

Part 1: Pizza Party

You are arranging a pizza party for all of your friends. You want to figure out how much pizza you can order without exceeding your budget. Assignment is to write a program that accepts the number of people attending your party, the budget for your party, the price per slice of pizza, and the price per pie of pizza. Your program should then identify how many slices each person wants and determine how many individual slices and pies to order without exceeding your budget. If you exceed your budget, the program should warn the user they can’t place their order. Note that for the purpose of this program a pizza pie contains 8 slices. And note that the restaurant you are ordering from will not sell you more than 7 individual slices at a time (if you need to purchase 8 slices you will have to buy a whole pie).

You do not need to validate the first four input statements (total budget, cost per slice, cost per pie and # of people attending party). You will have to validate the user’s input when prompting them for the number of slices for each person coming to the party (i.e. Enter number of slices for person #1).

Example input/output

Enter budget for

The equity of ChiHerbal Ltd as at 30 June 2018 comprises the following: 320 000 ordinary Class 1 shares, issued at $4, fully paid 240 000 ordinary Class 2 shares, issued at $4, called to $2.40 40 000 6% redeemable preference shares, issued at $3.00, fully paid Share issue costs Calls in advance (at $1.60) Share options (issued at $1.20, fully paid) Retained earnings $1 280 000 576 000 120 000 (4 272) 25 600 38 400 508 800 The options are exercisable by 28 February 2019. Each option entitles the holder to acquire two ordinary Class 3 shares at a price of $3.60 per share, payable by 28 February 2019. The following transactions occurred during the financial year ending 30 June 2019: 2018 Oct. Nov. Dec. 20 25 1 30 20 The preference shares were redeemed out of Retained earnings at a 5% premium. Cheques were issued to the preference shareholders. A 1-for-5 renounceable rights offer was made to ordinary Class 1 shareholders at an issue price of $3.80 per share. The offer’s expiry date is 30 November 2018. The rights issue is underwritten at a commission of $4 800. Holders of 256 000 shares accept the rights offer, with other rights being renounced to the underwriter. Ordinary Class 1 shares are issued and money received. The underwriting commission is paid. 2019 Jan. Feb. April May June 10 28 30 31 18 26 27 The directors transfer $56 000 from Retained earnings to a General reserve account. As a result of options being exercised, 56 000 ordinary Class 3 shares are issued. Unexercised options lapse. The final call, due by 31 May 2019, is made on the partly paid shares. All call money is received by this date, except for that due on 12 000 shares. The shares on which the final call was unpaid are forfeited. The forfeited shares are reissued, credited as paid to $4, for $3.60 cash per share. The balance of the Forfeited Shares account will be refunded to the former shareholders on 27 June. Pay refund to former holders of forfeited shares. ACCT6003 FAP_Assessment Brief_Part B Page 3 of 5 Required: a) Prepare general journal entries to record the above transactions. (25 marks) Note: Show all your workings. Journal narrations are required. b) Prepare the equity section of ChiHerbal’s statement of financial position as at 30 June 2019 once the above transactions have been recorded. (5 marks) Scenario 2 Property, Plant and Equipment (25 marks) a) The extracted financial statements of ChiHerbal shows the following land and buildings at 30 June 2018: $ Residential land, at cost 1 600 000 Factory land, at valuation 2015 1 440 000 Buildings, at valuation 2014 1 280 000 Accumulated depreciation (160 000) At 30 June 2018, the balance of Revaluation Surplus is $640 000, of which $480 000 relates to Factory land and $160 000 relates to Buildings. On 30 June 2018, independent valuations of the land and building are obtained. The assessed fair values of the above assets as at 30 June 2018 are: $ Residential land, previously recorded at cost 1 760 000 Factory land, previously revalued in 2015 1 120 000 Buildings, previously revalued in 2014 1 440 000 ChiHerbal Ltd classifies Residential land and Factory land as different classes of assets. Required: Prepare general journal entries to account for the revaluation of the above assets on 30 June 2018. Note: Show all your workings. Journal narrations are required