Please do the questions manually, without taking into consideration the XERO activities? do not worry about the xero activities.

Task Overview The company for which you will be accounting in this assignment buys and sells socks, it commenced business on 1st September 2018. You will be recording transactions for the month of September 2018. The assignment contains 5 separate sections, one for each week of September. You should work through these sections sequentially. Once you have completed all the exercises you should prepare the deliverables listed on page 7 then submit your work via the LMS. You must submit your assignment by 11.55pm, Friday 12 October. Week 1 -September 1st to September 6th, 2018 You are the accountant and owner of a new business which started up business on 1st September 2018. This business is operating as a sole trader and is registered for GST et up Company Your first task is to set up a new business in Xero - you must use your Student ID Number and Name as the Business name. Refer to the Workshop 5 Helpsheet if you need detailed help to set up a new company in Xero Record initial capital contribution Once you have the business set up you need to record the initial capital contributions into the business. To get the company underway you contributed $100,000 of your own money and borrowed $250,000 from the CBA bank. The loan is a 5-year secured business loan, with an interest rate of 6% and monthly repayments of $4,250 recorded at month end. Both the capital contribution and the loan are GST exempt transactions. You should use journal entries to record this initial capital transaction.

Task Overview The company for which you will be accounting in this assignment buys and sells socks, it commenced business on 1st September 2018. You will be recording transactions for the month of September 2018. The assignment contains 5 separate sections, one for each week of September. You should work though these sections sequentially. Once you have completed all the exercises you should prepare the deliverables listed on page 7 then submit your work via the LMS. You must submit your assignment by 11.55pm, Friday 12 October. Week 1 -September 1st to September 6th, 2018 You are the accountant and owner of a new business which started up business on 1st September 2018. This business is operating as a sole trader and is registered for GST et up Company Your first task is to set up a new business in Xero - you must use your Student ID Number and Name as the Business name. Refer to the Workshop 5 Helpsheet if you need detailed help to set up a new company in Xero Record initial capital contribution Once you have the business set up you need to record the initial capital contributions into the business. To get the company underway you contributed $100,000 of your own money and borrowed $250,000 from the CBA bank. The loan is a 5-year secured business loan, with an interest rate of 6% and monthly repayments of $4,250 recorded at month end. Both the capital contribution and the loan are GST exempt transactions. You should use journal entries to record this initial capital transactions. Refer to the Workshop 5 Helpsheet if you need detailed help to record journal entries in Xero. (Hint: Make sure you set up your 'cash at bank' account as per the instructions in week 5) Record transactions for week1 The final task for this week is to record transactions for the company. To do this you will need to create new inventory items, suppliers, and customers as required for the transactions. You may also need to add or edit accounts when recording the transactions. Refer to the Workshop 2 & 3 1 Task Overview The company for which you will be accounting in this assignment buys and sells socks, it commenced business on 1st September 2018. You will be recording transactions for the month of September 2018. The assignment contains 5 separate sections, one for each week of September. You should work though these sections sequentially. Once you have completed all the exercises you should prepare the deliverables listed on page 7 then submit your work via the LMS. You must submit your assignment by 11.55pm, Friday 12 October. Week 1 -September 1st to September 6th, 2018 You are the accountant and owner of a new business which started up business on 1st September 2018. This business is operating as a sole trader and is registered for GST et up Company Your first task is to set up a new business in Xero - you must use your Student ID Number and Name as the Business name. Refer to the Workshop 5 Helpsheet if you need detailed help to set up a new company in Xero Record initial capital contribution Once you have the business set up you need to record the initial capital contributions into the business. To get the company underway you contributed $100,000 of your own money and borrowed $250,000 from the CBA bank. The loan is a 5-year secured business loan, with an interest rate of 6% and monthly repayments of $4,250 recorded at month end. Both the capital contribution and the loan are GST exempt transactions. You should use journal entries to record this initial capital transactions. Refer to the Workshop 5 Helpsheet if you need detailed help to record journal entries in Xero. (Hint: Make sure you set up your 'cash at bank' account as per the instructions in week 5) Record transactions for week1 The final task for this week is to record transactions for the company. To do this you will need to create new inventory items, suppliers, and customers as required for the transactions. You may also need to add or edit accounts when recording the transactions. Refer to the Workshop 2 & 3 1