Question
Needs to be able to put into myob accounting software Transactions from early January 2017 2 Obtained a loan of $18,000 from Uncle Abraham (a
- 2Obtained a loan of $18,000 from Uncle Abraham (a family relative of OswaldMather) at a simple interest rate of 10% per year, Cheque No. 171, ID #CR000001. The principal and interest on the loan are payable in six months time.3Received Cheque No. 210 from Jerry Technology for the full amount outstanding on their account, ID #CR000002.
- 3Purchased 10 units Tony ZIO MLP projectors from Pear Technology at $902 each (includes 10% GST), Purchase #319, Supplier Inv#893. Issued Cheque No. 4089 for $4,400 to this supplier for this particular invoice at the time of the purchase
- 4Issued Cheque No. 4090 for $1,870 (includes 10% GST) to Discount Office Supplies for the cash purchase of office supplies.
- 5Sold the following items on credit to Hypertronics, Invoice #3446:3 units BlueBerry phones for $2,200 each (includes 10% GST)
- 3 units ZII game consoles for $2,640 each (includes 10% GST).
$7,300 was received immediately, Cheque No. 642, with the rest due to be received during the last week of the month. Note that MYOB automatically assigns ID #CR000003 to this cash receipt.
6Issued Cheque No. 4091 for $6,380 to JCN Electrical in payment of Purchase #316 (Supplier Inv#298).
After you have finished recording the above transactions in MYOB, Oswald asks you to use the MYOB Bank Register to find out about the current balance of the Undeposited Funds account. He also tells you that he has additional questions for you to answer about your use of MYOB
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started