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 $ 5/03/2007 501 Ivana Drivacar 400 40 440 8/03/2007 502 Keep on Trukin' Inc 200 20 220 10/03/2007 503 Oliver Town Couriers 1050 105 1155 25/03/2007 507 Oliver Town Couriers 300 30 330 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 200 20 220 Total 200 DR 20 DR 220 CR journal Date Invoice No Creditor $ Payable $ Creditors Control $ 2/03/2007 232 Safe 2 Drive 200 20 220 30/03/2007 434 Sandown Raceway 240 24 264 30/03/2007 533 Bill's Fuel Palace 500 50 550 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 2006 1
Cash receipts journal Sales Services Sales Merch Payable Date Particulars Rec No Debtors control Sundries Bank Cash Sales - Driving 2/03/2007 Lessons (Daily) 320 32 352 10/03/2007 Ivana Drivacar 440 440 19/03/2007 Oliver Town Couriers 1155 1155 Cash Sales - Driving 30/03/2005 Lessons (Daily) 600 60 660 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 419351 220 220 27/03/2007 Telephone 419352 150 15 165 Creditor P'ment - Bill's 31/03/2007 Fuel Palace 419353 550 550 Total 770 DR 150 DR 15 DR 935 CR 1.01. 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 11000 11000 DR 31/03/2007 Cash Receipts CRJ 2607 13607 DR Cash Payments CPJ 935 12672 DR 1.02. Debtors Control 1/03/2007 Opening Balance GJ 1000 1000 DR 31/03/2007 Sales & SJ 2145 3145 DR Sales Returns & SRJ 220 2925 DR Bank CRJ 1595 1330 DR 1.03. Instructional Equipment 1/03/2007 Opening Balance GJ 12000 12000 DR Copyright MYOB Technology PTY LTD 2006 2
1.04. Office Equipment 1/03/2007 Opening Balance GJ 6000 6000 DR 1.05. Motor Vehicle 1/03/2007 Opening Balance GJ 33753 33753 DR 2.02. Creditors Control 1/03/2007 Opening Balance GJ 850 850 CR 31/03/2007 Purchase & PJ 1034 1884 CR Bank CPJ 770 1114 CR 2.04. Payable 31/03/2007 Debtors control SJ 195 195 CR Debtors control SRJ 20 175 CR Creditors Control PJ 94 81 CR Bank CRJ 92 173 CR Bank CPJ 15 158 CR 2.05. Loans - FirstBank 1/03/2007 Opening Balance GJ 25000 25000 CR 3.01. Owner s Capital 1/03/2007 Opening Balance GJ 37903 37903 CR 3.02. Owner s Drawings 4.01. Sales Service 31/03/2007 Debtors SJ 1750 1750 CR Cash Receipts CRJ 920 2670 CR 4.02. Sales - Merchandise 31/03/2007 Debtors Control SJ 200 200 CR Copyright MYOB Technology PTY LTD 2006 3
4.03. Sales Returns & Allowances 31/03/2007 Debtors Control SRJ 200 200 DR 4.04. Interest Revenue 5.01. 31/03/2007 Creditors Control PJ 940 940 DR 5.02. Returns 5.06. Telephone 31/03/2007 Bank CPJ 150 150 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 12672 1330 12000 6000 33753 Creditors Control Payable Loans - FirstBank Owner s Capital Sales Services 1114 158 25000 37903 2670 Sales - Merchandise 200 Sales returns and allowances 200 940 returns and allowances Telephone 150 Total 67045 67045 Copyright MYOB Technology PTY LTD 2006 4
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 2670 200-200 2670 Less Expenses Returns Telephone Total Expenses 940 150 1090 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 12672 1330 12000 6000 33753 1114 158 25000 65755 26272 39483 Owners Equity Owner s Captial Current Earnings (Profit) * Owners Equity 37903 1580 39483 Copyright MYOB Technology PTY LTD 2006 5
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 440 440 DR 10/03/2007 Bank CRJ 440 0 DR Keep on Truckin' Inc 1/03/2007 Opening Balance 600 600 DR 8/03/2007 Sales & SJ 220 820 DR 9/03/2007 Sales Returns & SRJ 220 600 DR Oliver Town Couriers 1/03/2007 Opening Balance 400 400 DR 10/03/2007 Sales & SJ 1155 1555 DR 20/03/2007 Bank CRJ 1155 400 DR 25/03/2007 Sales & SJ 330 730 DR Subsidiary ledgers & debtors control reconciliation Prepare a debtors reconciliation schedule at 31 March 2007. Ivana Drivacar Keep on Truckin' Oliver Town Couriers Debtors Control Account as @ 31 March 0 DR 600 DR 730 DR 1330 DR Creditors Safe 2 Drive 2/03/2007 & PJ 220 220 CR 5/03/2007 Bank CPJ 220 0 CR Sandown Raceway 1/03/2007 Opening Balance 500 500 CR 30/03/2007 & PJ 264 764 CR Bll's Fuel Palace 1/03/2007 Opening Balance 350 350 30/03/2007 & PJ 550 900 CR 31/03/2007 Bank CPJ 550 350 CR Copyright MYOB Technology PTY LTD 2006 6
Subsidiary ledgers & creditors control reconciliation Prepare a debtors reconciliation schedule at 31 March 2007. Sandown Raceway Bill's Fuel Palace 764 CR 350 CR Creditors Control Account as @ 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 764 994-227 456345 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 350 994-227 456345 Driving Miss Daisy (Driving School) Copyright MYOB Technology PTY LTD 2006 7