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Please show how to record these transactions within the accounting software package MYOB and create the following four reports 1. Income Statement (Profit and Loss)
Please show how to record these transactions within the accounting software package MYOB and create the following four reports
1. Income Statement (Profit and Loss) for the month ended 30 June 2019
2. Balance Sheet as at 30 June 2019
3. Trial Balance as at 30 June 2019
4. Journal entries report
Thank you so much!!!
Comments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely gym fees, squash fees and membership fees. All revenues relate to the month of June. - Transactions involve cash unless specified as 'Account'. - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar. Comments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely gym fees, squash fees and membership fees. All revenues relate to the month of June. - Transactions involve cash unless specified as 'Account'. - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollarStep by Step Solution
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