Computerised accounts using myob

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Reference no: EM132113110

Manual Recording and Computerised Accounts using MYOB Case Study - Brisbane Divers

Part A: Manual Recording

To record transactions manually, you must use the Excel files provided on the unit Canvas. Handwritten work or Excel files other than the Excel files provided on the unit Canvas are not eligible for submission.

Part B: Computerised accounts using MYOB

It is required that when setting up the company details using MYOB software, you need to put your group members' first names as part of the company name (e.g. Brisbane Divers - Group members' names). The address for the business is to be your own address (no need to be an actual postal address. You can create an address).

For example, if your assignment group members' first names are Jia, Billy and Peter the company name will be Brisbane Divers - JiaBillyPeter. Address 120 William Street, Brisbane, 3980.

Case Study Background

Assume that Brisbane Divers (ABN 34 255 712 444) operates as a partnership and you and your group members are the owners of that company. Brisbane Divers specializes in selling locally manufactured diving equipment and takes students on diving courses in its boat. The business charges GST on all inventory sales and dive lessons and pays GST on inventory purchases and most business expenses.

Part A: Manual Recording

Required:
1. Record the opening balances as at 1 August 2018 in the appropriate general ledger accounts.
2. Record August month's transactions in the general journal and post these to the general ledger.

3. Record end of month adjustments in the general journal and post these to the general ledger.
4. Prepare a Trial Balance after end of month adjustments as at 31 August 2018
5. Prepare an Income Statement for August 2018 and a Balance Sheet as at 31 August 2018.

Part B: Computerised accounts using MYOB

1. Enter the business information, establish a chart of accounts, record supplier and customer balances, enter inventory balances and record opening ledger account balances as at 1 August 2018.

2. Record the transactions, including the adjusting entries, for the month of August 2018.

3. Produce Trial Balance as at August 31st, 2018 (after all adjustments). (This MUST be directly printed from MYOB).

4. Produce Transaction Journal from 1 August to 31 August for all transactions. (This MUST be directly printed from MYOB).

5. Produce Income Statement for month ended August 2018 (This MUST be directly printed from MYOB).

6. Produce Balance Sheet as at 31st August 2018 (This MUST be directly printed from MYOB).

Attachment:- Assessment-Task.rar

Reference no: EM132113110

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