Can any of the tutors help me to complete this assignment in excel? thank you

GENERAL JOURNAL Date April Description Post Ref. 1 Cash Register GST Paid/ Receivable Cash at bank Debit ($) Credit ($) 3400.00 2-1330 340.00 1- 1100 3740.00 (Wrote a cheque for a new cash register [Cheque 210]) Depreciation Expense - Cash Register Accumulated Depreciation - Cash Register 6-1800 1193.33 1-3320 1193.33 (Record depreciation on Cash Register) 10 Drawings - Michael Harley Cash at bank 3-1200 2500.00 1-1100 2500.00 (Michael withdrew cash for personal use) 22 Drawings- Michael Harley Cash at bank 3-1200 3000.00 1-1100 3000.00 (Michael withdrew cash for personal use) 26 Accounts Payable Inventory GST Receivable/Paid (Returned goods, adjustment note received) 2-1200 1-1300 2-1330 220.00 31 Sales returns and allowance GST Payable/Collected Accounts Receivable - Kamikaze Courier (Return of good sold) 4-1500 2-1310 1-1200 5280.00 528.00 Inventory Cost of Sales Cost of goods returned 200.00 20.00 5808.00 1-1300 ADJUSTING ENTRIES 30 Depreciation Expense - Motor Vehichles Accumulated Depreciation - Motor Vehichles (Record depreciation on Motor Vehichles) 5400.00 5400.00 30 Depreciation Expense - Shop Furniture & Fixtures Accumulated Depreciation - Shop Furniture & Fixtures (Record depreciation on Shop Furniture & Fixtures) 600.00 30 Wages Expense - Dirkk Wages Payable 225.00 30 Wages Expense - Mae Wages Payable 200.00 600.00 225.00 200.00 PURCHASES JOURNAL Inv. Date April No. 11 P.O.344 12 P.O.345 19 P.O.346 23 P.O.347&348 Post. Account Hit the road Best bikes Tommy Tee Puchase on credit Totals Terms 5/10, n/30 5/10, n/30 5/10, n/30 5/10, n/30 Ref. Page: 11 GST Paid Freight Inventory (Outlays) 200.00 20.00 19,250.00 1,925.00 500.00 50.00 10,220.00 1,022.00 30,170.00 3,017.00 Paid Page: 11 Accounts Payable 220.00 21,175.00 550.00 11,242.00 33,187.00 SALES JOURNAL Inv. No. Date April 11 15 21 25 CR71 CR72 CR73 CR73 Account Terms Kamikaze Couriers2/15, n/30 Ranger Bike Club 2/15, n/30 Free Whealers 2/15, n/30 Kamikaze Couriers2/15, n/30 Totals Post Ref. Cost of Goods Sold 4,950.00 4,400.00 310.00 6,600.00 16,260.00 Sales 15,840.00 12,980.00 930.00 21,120.00 50,870.00 Freight GST Accounts Lessons Collected Collected Receivable 1,584.00 80.00 1,306.00 93.00 2,112.00 80.00 5,095.00 17,424.00 14,366.00 1,023.00 23,232.00 56,045.00 CASH PAYMENTS JOURNA JOURNAL Debits Date April 1 2 6 8 10 12 14 15 21 27 28 Account Cheque Post Accounts GST Paid No. Ref. Payable (Outlays) Prepaid rent 211 Advertising expense 212 Dumbar & Dumbar 213 Hit the road 214 Best bikes 216 Evans Garage 217 Wage 218&219 Bikers bank 220 Printing expense 221 Allied Insurance 223 Wage 224&225 Totals Credits Motor Vehicle Wages Expense 420.00 75.00 Loan Rent Repayment 4,200.00 51.00 510.00 1,650.00 3,330.00 39.00 62.00 620.00 1,550.00 647.00 Other Bank 4,620.00 825.00 880.00 1,200.00 3,560.00 561.00 1,650.00 3,330.00 390.00 429.00 682.00 1,550.00 750.00 880.00 1,200.00 3,560.00 5,640.00 Cash at 3,200.00 1,130.00 4,200.00 3,300.00 1,140.00 19,287.00 - Credits Discount GST Paid Received (Outlays) CASH RECEIPTS JOURNAL Debits Date April 3 4 10 12 14 16 18 23 25 31 Account Sales Lesson revenue Sales Kamikaza Couriers Free Whealers Lesson revenue Kamikaza Couriers Lesson revenue Cash sale Lesson revenue Totals Credits Post Invoice Cash at Discount GST Cost of Cash Ref. No. Allowed Payable Goods Sold Sales Bank R301 L1 R302 7403.00 330.00 19085.00 5900.00 3780.00 L2 495.00 17,075.52 L3 220.00 R303 4675.00 L4 220.00 59183.52 2280.00 Lessons Accounts GST Receivable Collected 6730.00 673.00 30.00 1735.00 300.00 5600.00 17350.00 5900.00 3780.00 450.00 316.80 31.68 45.00 17,424.00 200.00 2250.00 4250.00 200.00 316.80 31.68 10130.00 28330.00 1150.00 27104.00 20.00 425.00 20.00 2948.00 Other GENERAL LEDGER Name: BANK Date Acct No.: 1-1110 Explanation Post. Ref. Name: ACCOUNTS RECEIVABLE Date Explanation Name: PREPAID RENT Credit Balance Acct No.: 1-1200 Post. Ref. Name: INVENTORY Date Debit Debit Credit Balance Acct.:1-1300 Explanation Ref. Debit Credit Acct No.: 1-2200 Balance Date Explanation Post. Ref. Debit Name: PREPAID ADVERTISING Date Explanation Explanation Post. Ref. Debit Post. Ref. Debit Balance Credit Balance Acct No.: 1-3120 Name: SHOP FITTINGS & FIXTURES AT COST Explanation Credit Acct No.: 1-3110 Name: MOTOR VEHICLE-ACCUMULATED DEPRECIATION Date Balance Acct No.: 1-2250 Name: MOTOR VEHICLE AT COST Date Credit Acct No.: 1-3210 Post. Ref. Debit Credit Balance Name: SHOP FITTINGS-ACCUMULATED DEPRECIATION Date Explanation Post. Ref. Acct No.: 1-3220 Debit Name: CASH REGISTER -COST Date Explanation Explanation Post. Ref. Debit Post. Ref. Name: GST COLLECTED Credit Balance Acct No.: 1-3320 Debit Name: ACCOUNTS PAYABLE Date Balance Acct. No.; 1-3310 Name: CASH REGISTER-ACCUMULATED DEPRECIATION Date Credit Credit Balance Acct. No.; 2-1200 Explanation Post. Ref. Debit Credit Balance Acct No.: 2-1310 Date Explanation Post. Ref. Name: ACCOUNTS PAYABLE Explanation Post. Ref. Debit Credit Balance Acct No.: 2-1340 Explanation Post. Ref. Explanation Post. Ref. Debit Name: UNEARNED REVENUE Date Balance Acct No.: 2-1330 Name: NET GST PAYABLE Date Credit Acct No.: Name: GST PAID Date Debit Credit Balance Acct. No.: 2-1600 Debit Credit Balance Name: LEGAL FEES PAYABLE Date Explanation Acct No.: 2-1700 Post. Ref. Name: WAGES PAYABLE Debit Credit Balance Acct No.: 2-1750 Post. Date Explanation Ref. Name: LOAN-ANZ BANK, WILLIAMSVILLE . Date Explanation Name: CAPITAL-MICHAEL HARLEY Debit Credit Balance Acct No.: 2-2100 Post. Ref. Debit Credit Acct No.: 3-1100 Balance Date Explanation Post. Ref. Name: DRAWINGS - MICHAEL HARLEY Date Explanation Post. Ref. Balance Debit Credit Balance Acct. No.: 3-800 Explanation Post. Ref. Name: PROFIT & LOSS SUMMARY Date Credit Acct No.: 3-1200 Name: RETAINED EARNINGS Date Debit Explanation Debit Credit Balance Acct No.: 3-9500 Post. Ref. Debit Credit Balance Name: SALES Date Acct No.: 4-1100 Explanation Post. Ref. Name: SALES RETURNS Date Debit Balance Acct No.: 4-1150 Explanation Post. Ref. Debit Name: LESSONS REVENUE Date Credit Credit Balance Acct.No.: 4-1200 Explanation Post. Ref. Debit Credit Balance Name: OTHER FEES COLLECTED Date Explanation Acct.No.: 4-3000 Post. Ref. Name: COST OF GOODS SOLD Date Explanation Debit Explanation Post. Ref. Debit Credit Balance Acct. No.: 5-1150 Post. Ref. Name: ADVERTISING Date Balance Acct No.: 5-1100 Name: INVENTORY LOSS /GAIN Date Credit Debit Credit Balance Acct No.: 6-1000 Explanation Post. Ref. Debit Credit Balance Name: PRINTING Date Acct No.: 6-1100 Explanation Post. Ref. Name: RENT Date Explanation Post. Ref. Balance Debit Credit Balance Acct No.: 6-1210 Explanation Post. Ref. Name: DISCOUNT TAKEN Date Credit Acct No.:6-1200 Name: DISCOUNT GIVEN Date Debit Debit Credit Balance Acct No.: 6-1220 Explanation Post. Ref. Debit Credit Balance Name: MOTOR VEHICLE EXPENSES Date Explanation Acct No.:6-1250 Post. Ref. Name: INTEREST EXPENSE Date Explanation Post. Ref. Balance Debit Credit Balance Acct No.: 6-1450 Explanation Post. Ref. Name: DEPRECIATION-MOTOR VEHICLE \\ Date Credit Acct No.: 6-1400 Name: BANK FEES Date Debit Explanation Name: DEPRECIATION - SHOP FITTINGS Debit Credit Balance Acct No.: 6-1700 Post. Ref. Debit Credit Acct No: 6-1750 Balance Date Explanation Post. Ref. Debit Name: DEPRECIATION - SHOP FITTINGS & FIXTURES Date Explanation Explanation Post. Ref. Debit Credit Balance Acct No: 6-1800 Post. Ref. Name: WAGES & SALARIES \\ Date Balance Acct. No.: 6-1750 Name: DEPRECIATION - CASH REGISTER Date Credit Debit Credit Balance Acct No.: 6-1950 Explanation Post. Ref. Debit Credit Balance Name: Date Acct No.: Explanation Post. Ref. Debit Credit Balance GENERAL LEDGER Name: BANK Date Acct No.:1-1110 Details Post Ref Debit Date Name: ACCOUNTS RECEIVABLE Date Details Post Ref Debit Date Details Post Ref Acct No.: 1-1300 Details Post Ref Debit Date Name: PREPAID RENT Date Post Ref Acct No.: 1-1200 Name:INVENTORY Date Details Details Details Post Ref Acct No.: 1-2200 Post Ref Debit Date Details Post Ref Name:PREPAID ADVERTISING Date Details Acct No.:1-2250 Post Ref Debit Date Name: MOTOR VEHICLE AT COST Date Details Post Ref Details Acct No. 1-3120 Debit Date Details Name: MOTOR VEHICLE-ACCUMULATED DEPRECIATION Date Details Post Ref Post Ref Debit Name: SHOP FITTINGS & FIXTURES AT COST Date Post Ref Acct No.: 1-3120 Details Post Ref Acct No.: 1-3210 Date Details Post Ref Debit Date Details Name: SHOP FITTINGS-ACCUMULATED DEPRECIATION Date Details Post Ref Debit Date Name: CASH REGISTER AT COST Date Details Acct No.: 1-3220 Details Details Post Ref Acct No.: 1-3310 Post Ref Debit Date Details Name: CASH REGISTER-ACCUMULATED DEPRECIATION Date Post Ref Post Ref Debit Date Post Ref Acct No.: 1-3320 Details Post Ref Name: ACCOUNTS PAYABLE Date Details Acct No.: 2-1200 Post Ref Debit Date Name: GST COLLECTED/PAYABLE Date Details Post Ref Acct No.: 2-1310 Debit Date Name: NET GST PAYABLE Date Details Details Post Ref Details Post Ref Acct No.: 2-1340 Post Ref Name: UNEARNED REVENUE Debit Date Details Post Ref Acct No.:2-1600 Post Post Date Details Ref Debit Date Name: LEGAL FEES PAYABLE Date Details Details Post Ref Debit Date Details Post Ref Acct No.: 2-1750 Post Ref Debit Date Name: LOAN Date Ref Acct No.: 2-1700 Name:WAGES PAYABLE Date Details Details Post Ref Acct No.: 2-2100 Details Post Ref Debit Date Details Post Ref Name:CAPITAL-MICHAEL HARELY Date Details Post Ref Acct No.: 3-1110 Debit Date Name: DRAWINGS-MICHAEL HARLEY Date Details Post Ref Details Debit Date Details Details Post Ref Acct No.: 3-8000 Post Ref Debit Date Name: PROFIT & LOSS SUMARY Date Post Ref Acct No.: 3-1200 Name: RETAINED EARNINGS Date Details Details Post Ref Acct No.: 3-9500 Post Ref Debit Date Details Post Ref Name: SALES Date Acct No.: 4-1100 Details Post Ref Debit Date Name: SALES RETURNS Date Details Acct No.: 4-1150 Post Ref Debit Date Name: LESSONS REVENUE Date Details Details Post Ref Details Post Ref Acct No.: 4-1200 Post Ref Debit Date Details Post Ref Name: OTHER FEES COLLECTED Date Details Acct No.: 4-3000 Post Ref Debit Date Name: COST OF GOODS SOLD Date Details Details Post Ref Debit Date Details Post Ref Acct No.: 5-1150 Post Ref Debit Date Name: ADVERTISING Date Post Ref Acct No.: 5-1100 Name: INVENTORY LOSS/GAIN Date Details Details Post Ref Acct No.: 6-1000 Details Post Ref Debit Date Details Post Ref Name: PRINTING Date Acct No.: 6-1100 Details Post Ref Debit Date Name: RENT Date Post Ref Acct No.: 6-1200 Details Post Ref Debit Date Name: RENT Date Details Details Post Ref Acct No.: 6-1200 Details Name: DISCOUNT GIVEN Post Ref Debit Date Details Post Ref Acct No.: 6-1210 Date Details Post Ref Debit Date Name: DISCOUNT TAKEN Date Details Details Post Ref Debit Date Details Post Ref Acct No.: 6-1400 Post Ref Debit Date Name: BANK FEES Date Post Ref Acct No.: 6-1220 Name: INTEREST EXPENSE Date Details Details Post Ref Acct No.: 6-1450 Details Post Ref Debit Date Details Post Ref Name: DEPRECIATION-MOTOR VEHICLE Date Details Post Ref Acct No.: 6-1700 Debit Date Details Name: DEPRECIATION-SHOP FITTINGS Date Details Post Ref Acct No.: 6-1750 Debit Date Name: DEPRECIATION-CASH REGISTER Date Details Name: WAGES & SALARIES Post Ref Post Ref Details Post Ref Acct No.: 6-1800 Debit Date Details Post Ref Acct No.: 6-1950 Date Details Post Ref Debit Date Name: Date Name: Post Ref Acct No.: Details Post Ref Debit Date Name: Date Details Details Post Ref Acct No.: Details Post Ref Debit Date Details Acct No.: Post Ref Date Details Post Ref Debit Date Details Post Ref t No.:1-1110 Credit ct No.: 1-1200 Credit t No.: 1-1300 Credit t No.: 1-2200 Credit ct No.:1-2250 Credit ct No. 1-3120 Credit Acct No.: 1-3120 Credit Acct No.: 1-3210 Credit Acct No.: 1-3220 Credit cct No.: 1-3310 Credit Acct No.: 1-3320 Credit No.: 2-1200 Credit ct No.: 2-1310 Credit No.: 2-1340 t No.:2-1600 Credit Credit No.: 2-1700 Credit No.: 2-1750 Credit o.: 2-2100 Credit t No.: 3-1110 Credit cct No.: 3-1200 Credit t No.: 3-8000 Credit ct No.: 3-9500 Credit No.: 4-1100 Credit t No.: 4-1150 Credit ct No.: 4-1200 Credit ct No.: 4-3000 Credit ct No.: 5-1100 Credit cct No.: 5-1150 Credit No.: 6-1000 Credit No.: 6-1100 Credit No.: 6-1200 Credit No.: 6-1200 ct No.: 6-1210 Credit Credit ct No.: 6-1220 Credit t No.: 6-1400 Credit No.: 6-1450 Credit cct No.: 6-1700 Credit Acct No.: 6-1750 Credit ct No.: 6-1800 Credit No.: 6-1950 Credit No.: Credit No.: No.: Credit Credit ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Name: FREE WHEELERS Date Explanation No.: C1 Post. Ref. Debit Name: KAMIKAZE COURIERS Date Post. Explanation Ref. Explanation Balance No.: C2 Debit Name: RANGERS BIKE CLUB Date Credit Credit Balance No.: C3 Post. Ref. Debit Credit Balance ACCOUNTS PAYABLE SUBSIDIARY LEDGER Name: HIT THE ROAD Date Explanation No.: S1 Post. Ref. Name : BEST BIKES Date Debit Credit Balance No.: S2 Explanation Post. Ref. Debit Credit Balance Explanation Post. Ref. Debit Credit Balance Name: Date INVENTORY SUBSIDIARY LEDGER Item: BIG HEAD HELMETS Item Code: BHH Date Explanation Purchases Cost of Sales Balance Explanation Purchases Cost of Sales Balance Item: ROAD RUNNER Item Code: RR Date Item: COAST COURIER Item Code: CC Date Explanation Purchases Cost of Sales Balance Explanation Purchases Cost of Sales Balance Item: TEE SHIRTS Item Code: TS Date Item: Item Code: Date Explanation Purchases Cost of Sales Balance Schedules of Subsidiary Ledgers Schedule of Accounts Receivable Acc Code Account name Amount Schedule of Accounts Payable Acc Code Account name Amount Schedule of Inventory on Hand Item Code. Item name Unit number Total cost Trial Balance before end of period adjustments Acct No. Account Ref Debit Credit WORKSHEET Worksheet Acc No Account Trial Balance Adjustments SHEET heet Adjusted Trial Balance Income Statement Balance Sheet Deeper Dives INCOME STATEMENT Highway Heaven BALANCE SHEET Trial Balance (after closing entries) Acct No. Account Ref Debit Credit ACC10008 Financial Accounting Systems Assignment Case Study - Highway Heaven General information This case study requires you to use double entry manual recording and computer accounting software (MYOB) for a small business to record transactions for April 2017. It covers many of the common transactions of everyday business, including GST. Specific information Highway Heaven (ABN 53 004 085 616) is owned and operated by Michael Harley. He buys motorcycles from importers and sells them in Melbourne. His shop is at 888 Sydney Road, Glenville, 3056. All sales of motor cycles are on credit, unless otherwise stated; customers are required to pay cash for riding lessons. Purchases of motor cycles are on credit and operating expenses are paid in cash. The business charges GST on all inventory sales and riding lessons, and pays GST on inventory purchases and most business expenses. IMPORTANT: When establishing the business name for the assignment record 'your nameHighwayHeaven' (example; ;JohnSmith-Heaven.') Goods and Services Tax Highway Heaven charges GST of 10% on all sales pays GST on all business expenses, except wages. Non-current asset acquisitions are also taxed at GST of 10%. Page 1 of 9 Employees Michael has two employees, Dirk Davidson and Mae Scooter who are both paid $25 per hour. Wages owing to Dirk and Mai at 31 March is $400. Inventory The following is a list of closing inventory and the suppliers at 31 March 2017: Quantity On hand Item Code Description Last cost price Sale Price Supplier 20 15 8 BHH RR CC Big Head helmet Road Runner Coast Cruiser $20 $1,650 $2,200 $60 $5,280 $6,490 Hit the Road Best Bikes Best Bikes Each of the above items of inventory are quoted excluding GST. Inventory orders are delivered to Highway Heaven the same day the order is made to the supplier. Highway Heaven maintains inventory records for all inventory items. Lessons Customers are charged $50 (excluding GST) per hour for riding lessons. All lessons are paid for in cash in advance. Lessons revenue is recorded separately from sales of inventory. Supplier information Supplier balances at 31 March 2017 are: Name Hit the Road Best Bikes Address 181 Bend Boulevard, Bankstown, 3111 99 Hill Street Spokesville, 3222 ABN 50 566 722 363 Account balance $1,200 20 888 566 222 $3560 Each of the above account balances represents deliveries of inventories received on 15 March 2017. All purchases are on terms 5/10, net 30 days. Page 2 of 9 Customer information Customer balances at 31 March 2017 are: Name Address Free Wheelers 22 Downhill Drive, Skyway, 3444 Kamikaze Couriers 10 Lost Lane, Somerton, 3999 ABN 62 444 333 543 Last invoice date 10 March Account balance $3,780 20 877 475 200 26 March $5,900 Terms of payment for customers is 2/15, net 30 days. Highway Heaven sometimes receives payment within the discount period, but they may also receive payment outside the discount period. Bank loan Highway Heaven has a loan payable to Bikers Bank. Each month interest is paid $1,000 and $1,000 principal is paid off the loan. Opening balances Trial balance at 31 March 2017. Account No. 1-1110 1-1200 1-1300 1-3110 1-3120 1-3210 1-3220 2-1200 2-1340 2-1700 2-1750 2-2100 3-1100 Account Cash a bank Accounts receivable Inventory Motor vehicles Accumulated depreciation-motor vehicles Shop fittings & fixtures Accumulated depreciation of shop fittings & fixtures Accounts payable Net GST Payable Legal fees payable-Dumbar & Dumbar Wages payable Loan, Bikers Bank, Brunswick Capital, Michael Harley Total Page 3 of 9 Debit Credit 14,370 9,680 42,750 46,900 10,900 7,500 3,500 121,200 4,760 1,390 880 400 50,000 49,370 121,200 Transactions: April 2017 April 1 1 2 3 4 6 8 10 10 10 11 11 12 12 Wrote a cheque to All-Technics for a new cash register $3,740 (including GST). [Cheque 210] The cash register is expected to last for 3 years with a residual value of $160. Depreciation is allocated using the straight-line depreciation method. Wrote a cheque to White Real Estate for shop rent for April-June - $4,620. (GST inclusive) [cheque 211] Paid a six-month advertising campaign in Bikers World, a monthly magazine sold in newsagancies for motorbike enthusiasts. [Cheque 212] Highway Heaven will have an advertisement in each edition of the magazine. A cheque was written for $825 (GST inclusive) for the six months. Cash sale: 1 Coast Cruiser and 4 Big Head helmets (Invoice R301) Two customers paid for a 3 hour lesson each (Invoice L1) Paid legal fees owing to Dumbar & Dumbar [Cheque 213] Paid Hit the Road the balance outstanding at 31 March [Cheque 214] Michael withdrew $2,500 cash for personal use [Cheque 215] Cash sales: 5 Big Head helmets, 2 Road Runners and 1 Coast Cruiser (Invoice (R302) Total amount owing from March was paid to Best Bikes [Cheque 216] Credit sale: 3 Road Runner motorbikes to Kamikaze Couriers.(CR71) Highway Heaven urchased 10 Big Head helmets on credit. All goods were received the same day. (P.O. 344) Kamikaze Couriers paid the balance owing to Highway Heaven on 31 March. Credit purchase of the following items (P.O. 345) 5 Road Runners 5 Coast Cruisers All goods were received the same day. 12 14 14 15 15 Paid $561 (GST inclusive) to Evans Garage for motor vehicle expenses. [Cheque 217] Free Wheelers paid the amount owing from March. Pay day. Dirk was paid for 28 hours and Mae was paid for 22 hours, which included the wages owing at 31 March. [Cheques 218 and 219]. GST is not applicable. Paid monthly loan repayment to Bikers Bank of $1,330 (this includes $330 interest). In addition, Michael decided the business will pay an additional $2,000 off the loan principal. GST is not applicable to this transaction. [Cheque 220] Credit sale of inventory to a new customer, Rangers Bike Club, of 2 Coast Cruisers. Freight/delivery charges were $80 (GST exclusive) (CR72) New customer details: 110 Melbourne Road, Williamsville, 3222, ABN 65 111 722 545 16 3 customers paid cash for a 3 hour lesson each. (Invoice L2) 18 Received amount owing from Kamikaze Couriers for 11 April sale, allowing for the discount. Michael introduces a new product for sale. He has purchased tee shirts with the business logo on the back. The supplier is Tommy Tea, 18 Short Street, Tigerland, 3055.(ABN 84 958 732 843). Highway Heaven purchased 100 T-shirts on credit for a list price of $5.50.(GST 19 Page 4 of 9 inclusive).(P.O. 346) Selling price of the T-shirts is $16.50 (GST inclusive). 21 21 Credit sale: 8 Big Head helmets and 30 T-shirts to Free Wheelers. (Invoice CR73) Paid for printing expenses of $429 (GST inclusive) to Officeworks. [Cheque 221] 22 23 23 Michael withdrew $3,000 cash for personal use. [Cheque 222] A customer paid cash for a 4 hour lesson (Invoice L3). Credit purchase of inventory (P.O. 347 & P.O. 348): 16 Big Head helmets 2 Road Runners 3 Coast Cruisers The goods were received on the same day. 25 25 Credit sale of 4 Road Runners to Kamikaze Couriers.(Invoice CR73) Cash sale of 1 Coast Cruiser for special price of $4,510 (GST inclusive). The customer was particularly good at negotiating a special price. The customer also purchased 10 t-shirts for cash at the normal price(R303). Returned 10 Big Head helmets to Hit the Road as they were damaged. These items were purchased on 23 April. A credit note was issued by the supplier. Paid motor vehicle insurance of $682 (GST inclusive) to Allied Insurance. [Cheque 223] Note: record this as motor vehicle expenses. Pay day for employees. Dirk was paid for 30 hours and Mae was paid for 32 hours.[Cheques 224 and 225] 26 27 28 31 31 Kamikaze Couriers returned 1 Road Runner as it was not required. Michael agreed to give Kamikaze Couriers a full credit as the motorbike was returned in perfect condition. A customer paid cash in advance for a 4 hour lesson to be conducted in May. (Invoice L4) e Adjustments at 30 April 2017 Some adjustments are found in the above transactions. Additional adjustments are: Motor vehicle and shop furniture & fixtures are to be depreciated at 15% using the diminishing value (reducing balance) method. Wages owing at 30 April: Dirk 9 hours, Mae 8 hours A physical stock take at 30 April showed the following items of inventory were on hand: Big Head helmet Road Runner Coast Cruiser T-shirts 16 14 11 52 Accounts List 1-0000 Assets Page 5 of 9 1-1000 2-000 3-0000 4-0000 5-0000 6-0000 Current Assets 1-1100 Cash at Bank 1-1180 Undeposited funds 1-1190 Electronic clearing account 1-1200 Trade Accounts Receivable 1-1300 Inventory 1-2200 Prepaid Rent 1-2250 Prepaid Advertising 1-3100 Motor vehicle 1-3110 Motor vehicle at cost 1-3120 Motor vehicle-accumulated depreciation 1-3200 Shop fittings & fixtures 1-3210 Shop fittings at cost 1-3220 Shop fittings-accumulated depreciation 1-3300 Cash register 1-3310 Cash register at cost 1-3320 Cash register-accumulated depreciation Liabilities 2-1200 Accounts Payable 2-1300 GST Liabilities 2-1310 GST Collected 2-1330 GST Paid 2-1600 Customer deposits 2-1700 Legal fees payable 2-1750 Wages payable 2-2100 Loan-Bikers Bank Equity 3-1000 Owners' Equity 3-1100 Capital-Michael Harley 3-1200 Drawings-Michael Harley 3-8000 Retained Earnings Income 4-1100 Sales 4-1200 Lessons income 4-1500 Sales returns (manual recording only) 4-2000 Freight collected Cost of sales 5-1000 Cost of goods sold 5-1100 Inventory loss/gain 5-2000 Freight Expenses 6-1000 Advertising 6-1100 Printing 6-1200 Rent Page 6 of 9 6-1210 6-1220 6-1250 6-1400 6-1450 6-1600 6-1700 6-1750 6-1800 6-1930 Discount given Discount taken Motor vehicle expenses Loan interest Bank fees Legal fees Depreciation-motor vehicle Depreciation-shop fittings Depreciation-cash register Wages & salaries Note: Accounts which are linked accounts cannot be deleted. Page 7 of 9 Required: Part A: manual recording 1. Record the opening balances as at 1 April 2017 in the general journal and appropriate general ledger accounts and the opening balances of accounts receivable, accounts payable and inventory in the appropriate subsidiary ledgers. 2. Record the transactions in the appropriate general or special journal for April 2017. Post all transactions from journals to the general ledger in accordance with accounting procedures. 3. Prepare schedules of accounts receivable, accounts payable and inventory as at 30 April 2017 and reconcile these with the control accounts in the general ledger. 4. Record end of month adjustments in the general journal and post these to the general ledger. 5. Prepare a Trial Balance after end of month adjustments as at 30 April 2017 6. Prepare an Income Statement for April 2017 and a Balance Sheet as at 30 April 2017. 7. Prepare closing entries for April 2017. 8. Prepare a Trial Balance after closing entries for April 2017. Pro-forma journals, ledgers, worksheets and reports are available in the assessment folder and must be used to complete and submit part A. Part B Computerised accounts using MYOB 1. Set up a data file for Deeper Dives and process the transactions for April 2017. 2. The Easy Setup Assistant can be used for the initial setup process to: Prepare the Chart of Accounts Enter the opening balances in the general ledger Setup customer and supplier cards and enter opening balances in the specialist modules The Command Center can be used to create inventory items and enter opening balances of inventory 3. Record the transactions for April 2017. 4. Record end of month adjustments. ASSIGNMENT SUBMISSION: 1. A printed copy of Part A as follows: General journal and all specialist journals General ledger Accounts Receivable, Accounts Payable and Inventory subsidiary ledgers and Page 8 of 9 reconciliations Trial Balance after end of month adjustments Income Statement for April 2017 Balance Sheet as at 30 April 2017. Trial balance as at 30 April 2017 after closing entries 2. Electronic submission via to submissions sub-folder in the assessment folder of the unit home page of a. Part A excel file (name the file as 'your name-HighwayHeaven-Part A') b. Part B MYOB file (name the file as 'your name-HighwayHeaven-Part B') Please notify in the submission of your file if you used the 'Mac' version of MYOB to complete Part B of the assignment. The hard copies of your assignment must be submitted by the due date in the assignment submission box on Level 11 of the BA Building. Important Information 1. If the assignment does not satisfy both of the following requirements, it will not be accepted for marking. a. When establishing the business name for the assignment, students are required to insert their own name after the business name (Deeper Dive Your name). For example, if the student's name is John White, the company name of that student's assignment would be (Deeper Dive - John White). Any assignment with no student name/ names in the company name will not be accepted. 2. The assignment must be accompanied with an assignment cover sheet. 3. It is the student's responsibility to keep a backup copy of the assignment until all the assignment process is completed and marks are on blackboard. 4. Any assignments handed in late will be penalised as explained in the unit outline. Please refer to the unit outline for details. Due date: 12 pm. Thursday 18 May 2017 This assignment counts 20% towards your final assessment Page 9 of 9