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(b) i) Perfect Plumbing uses the following tables in MYOB to keep their general ledger up...
Perfect Plumbing sells bathroom and kitchen plumbing fittings to plumbers across Australia and uses a perpetual...
Perfect Plumbing sells bathroom and kitchen plumbing fittings to plumbers across Australia and uses a perpetual inventory system. The business imports their fittings from Italy and Asia and stores the fittings for resale at its business premises at Acacia Ridge. The Johnson Family owns the business and accounting is undertaken using MYOB. Sam Johnson is the CEO, his sister Brittany is the Finance Manager, his brother Alex is the Sales and Marketing Manager and his other sister Natalie is the...
Post the following general journal entries to the general ledger. GENERAL JOURNAL Post Page 1 Credit...
Post the following general journal entries to the general ledger. GENERAL JOURNAL Post Page 1 Credit Date 1/1 Description Cash Debit 20,000 Jacob S., Capital 20,000 1/5 Rent expense 5,000 Cash 5,000 1/8 Supplies 3,000 Cash 3,000 ACCOUNT NAME Cash ACCOUNT NUMBER 1 Balance Credit DATE Item Post Ref Debit Credit Debit ACCOUNT NAME: Supplies ACCOUNT NUMBER: 14 Balance Credit DATE Item Post Ref Debit Credit Debit ACCOUNT NAME: Jacob S., Capital ACCOUNT NUMBER: 31 Balance Credit DATE Item Post...
When recording a Sales Return in MYOB, which of the following tax codes is most appropriate?...
When recording a Sales Return in MYOB, which of the following tax codes is most appropriate? (1 mark) I. a. GST b. N-T c. FRE d. CAP Which of the following is true of Header accounts in the MYOB Accounts List? (1 mark) Header accounts are used only for report presentation purposes Transactions cannot be posted directly to Header accounts Sub-totals can be shown against Header accounts, but these are simply a П. 1 2. 3. "roll up" of the...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,500 9,500 3,500 36,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,000 6,000 7,000 23,000 9,500 $53,500 $53,500 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $20,000, and on account, $65,000. 2. March 13 Collect on accounts receivable,...
Sales Order Processing System The customer sales order is received via phone or through the mail. Gus Grinwich, the sales clerk, receives the sales order and checks the customer’s credit record. Once...
Sales Order Processing System The customer sales order is received via phone or through the mail. Gus Grinwich, the sales clerk, receives the sales order and checks the customer’s credit record. Once Grinwich checks the customer’s credit record, he prepares the sales order. From this sales order, Grinwich prepares a customer copy, stock release, shipping notice, two copies of the invoice, ledger copy, packing slip, and the file copy. One of the invoice copies, the ledger copy, and the file...
(The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at...
(The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,000 9,000 3,000 26,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,000 4,000 5,000 0 18,000 9,000 $42,000 $ 42,000 The following is a summary of the transactions for the year: 24 Provide plumbing services for cash, $15,000, and on...
Why does Figure 4 show only one cash resource entity if Fred’s Train Shop uses a...
Why does Figure 4 show only one cash resource entity if
Fred’s Train Shop uses a general operating checking account for
purchases of inventory, supplies, and operating expenses such as
rent but also uses a separate imprest checking account for
payroll?
Figure 4 is the image below:
Integrated REA Diagram for Fred's train shop
Take a look at Figure 4 and Table 1. Why do the
Inventory, Cash, Customers, and Suppliers agent & resource
tables all have an attribute that...
GL2-14 Complete the full accounting cycle The general ledger of Pipers Plumbing at January 1, 2021,...
GL2-14 Complete the full accounting cycle The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: points Credits Debits $ 4,100 9,100 3,100 28,000 eBook Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,400 4,400 5,400 Print 19,000 9,100 $ 44,300 $ 44,300 References The following is a summary of the transactions for the year: 24 Provide plumbing services for cash, $16,000, and...
Revenue Journal; Accounts Receivable subsidiary and General Ledgers Sage Learning Centers was established on July 20...
Revenue Journal; Accounts Receivable subsidiary and General Ledgers Sage Learning Centers was established on July 20 to provide educational services. The services provided during the remainder of the month are as follows July 21. Issued Invoice No. 1 to ). Dunlop for $90 on account. July 22. Issued Invoice No. 2 to K. Tisdale for $375 on account. July 24. Issued Invoice No. 3 to T. Quinn for $80 on account. July 25. Provided educational services, $145, K. Tisdale in...
GENERAL JOURNAL 1 Page Number Date Description PR Debit Credit GENERAL JOURNAL 2 Page Number Date...
GENERAL JOURNAL 1
Page Number
Date
Description
PR
Debit
Credit
GENERAL JOURNAL 2
Page Number
Date
Description
PR
Debit
Credit
General Ledger
Account
Title:
#_________
Date
Item
PR
Transaction
Balance
balance
Debit
Credit
Debit
Credit
-
14 different tables for the general ledger.
Accounts Receivable Subsidiary Ledger
Name:
#________
Address:
City,
State..
Date
Item
PR
Transaction
Balance
Debit
Credit
Debit
Credit
6 different tables for the accounts receivable subsidiary
ledger
Company Name
Schedule of Accounts
Date
Account...
Post the following general journal entries to the general ledger. GENERAL JOURNAL Post Page 1 Credit Date 1/1 Description Cash Debit 20,000 Jacob S., Capital 20,000 1/5 Rent expense 5,000 Cash 5,000 1/8 Supplies 3,000 Cash 3,000 ACCOUNT NAME Cash ACCOUNT NUMBER 1 Balance Credit DATE Item Post Ref Debit Credit Debit ACCOUNT NAME: Supplies ACCOUNT NUMBER: 14 Balance Credit DATE Item Post Ref Debit Credit Debit ACCOUNT NAME: Jacob S., Capital ACCOUNT NUMBER: 31 Balance Credit DATE Item Post...
When recording a Sales Return in MYOB, which of the following tax codes is most appropriate? (1 mark) I. a. GST b. N-T c. FRE d. CAP Which of the following is true of Header accounts in the MYOB Accounts List? (1 mark) Header accounts are used only for report presentation purposes Transactions cannot be posted directly to Header accounts Sub-totals can be shown against Header accounts, but these are simply a П. 1 2. 3. "roll up" of the...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,500 9,500 3,500 36,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,000 6,000 7,000 23,000 9,500 $53,500 $53,500 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $20,000, and on account, $65,000. 2. March 13 Collect on accounts receivable,...
(The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,000 9,000 3,000 26,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,000 4,000 5,000 0 18,000 9,000 $42,000 $ 42,000 The following is a summary of the transactions for the year: 24 Provide plumbing services for cash, $15,000, and on...
Why does Figure 4 show only one cash resource entity if
Fred’s Train Shop uses a general operating checking account for
purchases of inventory, supplies, and operating expenses such as
rent but also uses a separate imprest checking account for
payroll?
Figure 4 is the image below:
Integrated REA Diagram for Fred's train shop
Take a look at Figure 4 and Table 1. Why do the
Inventory, Cash, Customers, and Suppliers agent & resource
tables all have an attribute that...
GL2-14 Complete the full accounting cycle The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: points Credits Debits $ 4,100 9,100 3,100 28,000 eBook Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,400 4,400 5,400 Print 19,000 9,100 $ 44,300 $ 44,300 References The following is a summary of the transactions for the year: 24 Provide plumbing services for cash, $16,000, and...
Revenue Journal; Accounts Receivable subsidiary and General Ledgers Sage Learning Centers was established on July 20 to provide educational services. The services provided during the remainder of the month are as follows July 21. Issued Invoice No. 1 to ). Dunlop for $90 on account. July 22. Issued Invoice No. 2 to K. Tisdale for $375 on account. July 24. Issued Invoice No. 3 to T. Quinn for $80 on account. July 25. Provided educational services, $145, K. Tisdale in...
GENERAL JOURNAL 1
Page Number
Date
Description
PR
Debit
Credit
GENERAL JOURNAL 2
Page Number
Date
Description
PR
Debit
Credit
General Ledger
Account
Title:
#_________
Date
Item
PR
Transaction
Balance
balance
Debit
Credit
Debit
Credit
-
14 different tables for the general ledger.
Accounts Receivable Subsidiary Ledger
Name:
#________
Address:
City,
State..
Date
Item
PR
Transaction
Balance
Debit
Credit
Debit
Credit
6 different tables for the accounts receivable subsidiary
ledger
Company Name
Schedule of Accounts
Date
Account...
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