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please answer, how to input the closing stock figure and how to process the relevant journal entry The bookkeeper, a, did not know how to
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The bookkeeper, a, did not know how to input the closing stock figure of $18,402 into the MYOB management accounts and specifically asks you to process the relevant journal entry/entries directly into MYOB on her behalf. You note from perusing the MYOB data file that she has left the opening stock figure of $12,188 (which she entered on 1 August 2020) in the MYOB management accounts as she did not know how to do the adjustment. Record Journal Entry Display in GST [BAS] reports as: C Sale (Supply) General Journal #: GJ000002 Date: 01/08/20 Memo: Cost of Goods Sold Journal Entries Acct # Name Debit Opening stock food & drinks $12,188.00 Purchases - food & drinks $278,190.00 Closing stock food & drinks Cash at bank Total Debit: Total Credit Tax Out of Balance: 5-1000 5-2000 5-3000 1-1010 Purchase (Acquisition) Credit A $12,188.00 $278,190.00 $290,378.00 $290,378.00 $0.00 $0.00 Job Tax Inclusive Memo Tax N-T N-T N-T N-T how to input the closing stock figure and how to process the relevant journal entry
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