Can you Guys help me with the accounting.I need those transaction journalised. the first trail balance i did is on the first page then journalised those accounting and do another trail balance thanks.
The trial balance for The Digital Village as of 8 January 2013 is shown below.
The Digital Village
Trial Balance
January 2013
Account # Account YTD Debit ($) YTD Credit ($)
1-1110 Cheque Account 93,200
1-1200 Accounts Receivable 33,416
1-1210 Less Provn for Doubtful Debts 756
1-1300 Inventory 94,540
1-1400 Office Supplies 2,033
1-3110 Property & Equipment at Cost 54,500
1-3120 Property & Equipment Accum Dep 30,000
2-1200 Accounts Payable 39,168
2-1310 GST Collected 8,260
2-1330 GST Paid 6,136
2-1420 PAYG Withholding Payable 2,040
2-1800 Short Term Loans 11,000
2-2100 Bank Loans 49,000
3-1100 Share Capital 55,000
3-8000 Retained Earnings 98,446
4-1100 Sales Revenue 154,697
5-1100 Cost of Sales 107,838
6-1100 Depreciation Expense 30,000
6-1800 Office Supplies Expense 2,469
6-1930 Salaries Expense 15,607
6-2200 Telephone Expense 3,095
6-2420 Electricity Expense 3,373
6-2500 Bank Charges 37
6-2600 Bad Debts Expense 1,633
9-1000 Interest Expense 490
Total: 448,367 448,367
It is now 21 January 2013
While you are waiting for your computer to boot up, Helen arrives in a cheerful mood because she has just received some new sales prospects. You congratulate her and tell her about your MYOB experiences. She is pleased with your progress but says that because you are still new to the work, she will continue to mentor and supervise you closely over the next few weeks.
Helen then hands you the following list of transactions that occurred throughout mid January up to today (21 January) and asks you to record them in MYOB:
Mid January 2013
Date Transaction description
9 Purchased 7 units MX620 notebook computers from Big Telco at $1,375 each (includes 10% GST), Purchase #315, Supplier Inv#245.
9 Made a cash sale to Hypertronics, Invoice #3468 for the following items:
? 4 units MX620 notebook computers for $2,090 each (includes 10% GST)
? 7 units MePod multimedia players for $1,100 each (includes 10% GST).
Received Cheque No. 625 for $16,060 from this customer. Note that MYOB automatically assigns ID #CR000005 to this cash receipt.
13 Received a purchase order from Radio Hut, Customer PO#4624, Invoice #3469. The following items are required to be shipped by 23 January 2013:
? 6 units MX620 notebook computers at $2,090 each (includes 10% GST)
? 9 units Tony ZIO MLP projectors at $1,870 each, (includes 10% GST).
15 Issued Cheque No. 4061 for $5,500 (includes 10% GST) to pay Blue Blazer Realty for three months worth of rent in advance.
16 Purchased 6 units ZII game consoles from Big Telco for a list price of $1,155 each (includes 10% GST), Purchase #316, Supplier Inv#807. Issued Cheque No. 4062 for the full payment of this purchase.
16 Ordered 6 units Tony ZIO MLP projectors for $1,232 each (includes 10% GST), from Mega Tech, Purchase #317, Supplier Inv#SO644.
20 Received 6 units Tony ZIO MLP projectors, Purchase #317. These items were ordered from Mega Tech for $1,232 each (includes 10% GST), Supplier Inv#SO644.
20 Sold merchandise on credit to Pikea, Invoice #3470. The items sold were:
? 3 units MePod multimedia players for $1,100 each (includes 10% GST)
? 4 units ZII game consoles for $1,760 each (includes 10% GST).
New trail balance
Account # Account YTD Debit ($) YTD Credit ($)
1-1110 Cheque Account
1-1200 Accounts Receivable
1-1210 Less Provn for Doubtful Debts
1-1300 Inventory
1-1400 Office Supplies
1-1500 Prepaid Rent
1-3110 Property & Equipment at Cost
1-3120 Property & Equipment Accum Dep
2-1200 Accounts Payable
2-1310 GST Collected
2-1330 GST Paid
2-1420 PAYG Withholding Payable
2-1800 Short Term Loans
2-2100 Bank Loans
3-1100 Share Capital
3-8000 Retained Earnings
4-1100 Sales Revenue
5-1100 Cost of Sales
6-1100 Depreciation Expense
6-1800 Office Supplies Expense
6-1930 Salaries Expense
6-2200 Telephone Expense
6-2420 Electricity Expense
6-2500 Bank Charges
6-2600 Bad Debts Expense
9-1000 Interest Expense
Total:
0