| Country : | Australia |
|---|
Assignment Task
General information
Dr Heckle and Mr Jive own and run a retail and wholesale guitar showroom. The business is situated on a quiet road at 10 Groove Street, Bassville (ABN 123 456 789 01). Its custom is mainly from guitar enthusiasts as well as a couple of retail music shops. The shop has a funky and friendly atmosphere and is very well organised. Products consist of acoustic, electric and bass guitars music sheets. The business also sells speciality guitars on commission. The business charges GST on all inventory sales and guitar lessons and pays GST on inventory purchases and most business expenses. The business also uses the asset approach to prepaid expenses. Employees The business employs two casual assistants, Amanda Lynn, who works as a guitar instructor with Dr Heckle and Aiken Hart who works in the shop selling stock and taking bookings for lessons with Mr Jive. Each employee works between 10 to 30 hours per week, depending on the demand. Payday is every second Wednesday. Goods and Services Tax Dr Heckle & Mr Jive pays GST of 10% on all business expenses, except Wages. Non-current asset acquisitions are also taxed at 10%. Note: GST Receivable is recorded in the Liabilities section of the Chart of Accounts, so make sure you enter it is as Debit and not a Credit! ACC20015 – Financial Information Systems MYOB Assignment Required: Collect your assignment from your teacher (versions 1-10 available on Canvas) as each assignment is different.
Part A: manual recording –
1. From Canvas, Modules, Assessment, download the MYOB Assignment Stationery Excel workbook which contains all the required stationery to complete Part A of the assignment.
2. Enter your Student ID AND Assignment No (version No) in the spaces provided. NOTE: You must use your own workbook and not give your workbook to any other student. If any replicated files are discovered both students will receive a zero as their final mark for this section of the assignment.
3. Record the opening balances as at 1 March 2019 in the appropriate accounts and the opening balances of accounts receivable, accounts payable and inventory in the appropriate subsidiary ledgers.
4. Record
The above Accounting Assignment has been solved by our Accounting Assignment Experts at onlineassignmentbank. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our experts are well trained to follow all marking rubrics & referencing style.
Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire considered worthy of the highest distinction.
