Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer how to record a journal based on these contents Journal should be made on 30/06/21 I am not quite sure what these contents

please answer how to record a journal based on these contents
Journal should be made on 30/06/21
I am not quite sure what these contents are asking.
image text in transcribed
image text in transcribed
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. Each full-time employee is entitled to four (4) weeks paid annual leave per annum. Part-time staff are entitled to pro-rata annual leave. At 30 June 202121 had not yet recorded a journal entry to accrue the annual leave for these employees. Based on the projected salaries of when each employee is expected to take their annual leave, the total provision for annual leave (in respect of all employees) as at end of financial year totals $9,780. The trust's policy is that all annual leave must be taken within 12 months. No annual leave was taken by any employee during the 2021 financial year

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

ISO 9001 2015 Audit Procedures

Authors: Ray Tricker

4th Edition

1138025895, 978-1138025899

More Books

Students also viewed these Accounting questions