MYOB Bookkeeping Assessment 1A. Journals. (Note: The number of rows in journals won't necessarily match the number of transactions to be posted)
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1 MYOB Bookkeeping Assessment 1A Journals (Note: The number of rows in journals won't necessarily match the number of transactions to be posted) Sales Journal Date Invoice No Debtor Sales Services $ Sales Merch $ Payable $ Debtors Control $ 5/03/ Ivana Drivacar /03/ Keep on Trukin' Inc /03/ Oliver Town Couriers /03/ Oliver Town Couriers Total 1750 CR 200 CR 195 CR 2145 DR Sales returns and allowances journal Adjustm Sales Debtors Date ent Note Debtor Returns $ Payable $ Control $ 9/03/2007 CR000041Keep on Trukin' Inc Total 200 DR 20 DR 220 CR journal Date Invoice No Creditor $ Payable $ Creditors Control $ 2/03/ Safe 2 Drive /03/ Sandown Raceway /03/ Bill's Fuel Palace Total 940 DR 94 DR 1034 CR returns and allowances journal Date Adjustm ent No Creditor Returns $ Payable $ Creditors Control $ Total Copyright MYOB Technology PTY LTD
2 Cash receipts journal Sales Services Sales Merch Payable Date Particulars Rec No Debtors control Sundries Bank Cash Sales - Driving 2/03/2007 Lessons (Daily) /03/2007 Ivana Drivacar /03/2007 Oliver Town Couriers Cash Sales - Driving 30/03/2005 Lessons (Daily) Cash Payments Journal Total 1595 CR 920 CR 92 CR 2607 DR * NOTE: Driving Miss Daisy Driving School bank their takings daily. You will need to reflect this when posting to the general ledger account. Cheque No Cash Payable Date Particulars Creditors control Sundries Bank Creditor P'ment - Safe 2 5/03/2007 Drive /03/2007 Telephone Creditor P'ment - Bill's 31/03/2007 Fuel Palace Total 770 DR 150 DR 15 DR 935 CR FirstBank Account General Ledger (Note: The number of rows in the general ledger will not necessarily match the number of transactions to be posted) 1/03/2007 Opening Balance GJ DR 31/03/2007 Cash Receipts CRJ DR Cash Payments CPJ DR Debtors Control 1/03/2007 Opening Balance GJ DR 31/03/2007 Sales & SJ DR Sales Returns & SRJ DR Bank CRJ DR Instructional Equipment 1/03/2007 Opening Balance GJ DR Copyright MYOB Technology PTY LTD
3 1.04. Office Equipment 1/03/2007 Opening Balance GJ DR Motor Vehicle 1/03/2007 Opening Balance GJ DR Creditors Control 1/03/2007 Opening Balance GJ CR 31/03/2007 Purchase & PJ CR Bank CPJ CR Payable 31/03/2007 Debtors control SJ CR Debtors control SRJ CR Creditors Control PJ CR Bank CRJ CR Bank CPJ CR Loans - FirstBank 1/03/2007 Opening Balance GJ CR Owner s Capital 1/03/2007 Opening Balance GJ CR Owner s Drawings Sales Service 31/03/2007 Debtors SJ CR Cash Receipts CRJ CR Sales - Merchandise 31/03/2007 Debtors Control SJ CR Copyright MYOB Technology PTY LTD
4 4.03. Sales Returns & Allowances 31/03/2007 Debtors Control SRJ DR Interest Revenue /03/2007 Creditors Control PJ DR Returns Telephone 31/03/2007 Bank CPJ DR Trial Balance Driving Miss Daisy (Driving School) Trial Balance as at 31 March 2007 Account title Debit Credit FirstBank Cheque Account Debtors Control Instructional Equipment Office Equipment Motor Vehicles Creditors Control Payable Loans - FirstBank Owner s Capital Sales Services Sales - Merchandise 200 Sales returns and allowances returns and allowances Telephone 150 Total Copyright MYOB Technology PTY LTD
5 Profit & Loss Driving Miss Daisy (Driving School) Profit & Loss Statement 31st March 2007 (Statement of Financial Performance) Revenue Sales Services Sales Merchandise Sales Returns & Allowances Total Revenue Less Expenses Returns Telephone Total Expenses Net Profit/Loss 1580 Balance Sheet Driving Miss Daisy (Driving School) Balance Sheet (Statement of Financial Position) as at 31 March 2007 Assets FirstBank Cheque Account Debtors Control Instructional Equipment Office Equipment Motor Vehicles Total Assets Less Liabilities Creditors Control Payable Loans - FirstBank Total liabilities Net Assets Owners Equity Owner s Captial Current Earnings (Profit) * Owners Equity Copyright MYOB Technology PTY LTD
6 Subsidiary Ledgers (Note: The number of rows in the subsidiary ledgers will not necessarily match the number of transactions to be posted) Debtors Ivana Drivacar 5/03/2007 Sales & SJ DR 10/03/2007 Bank CRJ DR Keep on Truckin' Inc 1/03/2007 Opening Balance DR 8/03/2007 Sales & SJ DR 9/03/2007 Sales Returns & SRJ DR Oliver Town Couriers 1/03/2007 Opening Balance DR 10/03/2007 Sales & SJ DR 20/03/2007 Bank CRJ DR 25/03/2007 Sales & SJ DR Subsidiary ledgers & debtors control reconciliation Prepare a debtors reconciliation schedule at 31 March Ivana Drivacar Keep on Truckin' Oliver Town Couriers Debtors Control Account 31 March 0 DR 600 DR 730 DR 1330 DR Creditors Safe 2 Drive 2/03/2007 & PJ CR 5/03/2007 Bank CPJ CR Sandown Raceway 1/03/2007 Opening Balance CR 30/03/2007 & PJ CR Bll's Fuel Palace 1/03/2007 Opening Balance /03/2007 & PJ CR 31/03/2007 Bank CPJ CR Copyright MYOB Technology PTY LTD
7 Subsidiary ledgers & creditors control reconciliation Prepare a debtors reconciliation schedule at 31 March Sandown Raceway Bill's Fuel Palace 764 CR 350 CR Creditors Control Account 31 March 1114 CR Cheque requisition Draw up a cheque requisition on 31 March 2007 to pay both suppliers in full, in preparation for sign-off from the manager. FirstBank Date: 31/03/2007 Pay: Sandown Raceway Or bearer The sum of: Seven hundred and sixty four dollars Driving Miss Daisy (Driving School) FirstBank Date: 31/03/2007 Pay: Bill's Fuel Palace Or bearer The sum of: Three hundred and fifty dollars Driving Miss Daisy (Driving School) Copyright MYOB Technology PTY LTD
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