Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Entering answers into your practice set In this practice set you will use MYOB to record transactions and generate a number of trial balances at

image text in transcribed

image text in transcribed

Entering answers into your practice set In this practice set you will use MYOB to record transactions and generate a number of trial balances at different points in time. To verify that your account balances are then correct, you will be required to transcribe your results back into this practice set website. Once your answers are submitted you will receive feedback on the correctness of your MYOB company file. Instructions: For this sample exercise we have provided an extract of a trial balance report that you are likely to obtain from MYOB. Use the extracted report to complete the identical trial balance below it by transcribing the required figures. This is a very simple sample exercise - you are just being asked to copy figures between the two reports. Hints: If an account has a debit balance, enter that balance in the YTD Debit column and leave the relevant YTD Credit column blank. You are not required to use commas to separate thousands or to enter dollar ($) signs. Any commas or dollar signs entered into input boxes will be removed by the practice set website. Trial Balance December 2018 Account # Account YTD Credit ($) 1-1110 Cheque Account YTD Debit ($) 81,468 0 1-1180 Undeposited Funds Electronic Clearing Account 1-1190 0 1-1200 Accounts Receivable 33,792 Transcribe the two highlighted figures ... Account # Account YTD Debit ($) YTD Credit ($) 1-1110 1-1180 Cheque Account Undeposited Funds Electronic Clearing Account 1-1190 1-1200 Accounts Receivable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Lakeside Company Case Studies In Auditing

Authors: John Trussel, J. Douglas Frazer

12th Edition

0132567253, 978-0132567251

More Books

Students also viewed these Accounting questions