using Xero AIS, Opened the Demo Company (NZ), and Lab sheet ready for processing transactions into this company.

The following reports are required to be handed in: Journal report for 8 December 2020 only. Aged Receivables at 8 December 2020 Aged Payables at 8 December 2020 Profit and Loss for 8 December 2020 only. Balance Sheet at 31 December 2020 Inventory Item List for 8 December 2020.

Transactions: NB: enter all transactions as 8 December 2020 and tax-exclusive where applicable

1. 8 December 2020 send an invoice to Rex Media Group for 3 x half-day training course conducted in December. Invoice due 12 February 2021. Quantity = 3. Tax rate 15%. Total amount $1,500 (tax exclusive). Save and Approve the Invoice.

2. 8 December 2020. Pay Central Copiers for the amount overdue ($163.56). Pay from Business Bank Account. Reference: Bill 945-Ocon

3. 8 December 2020. Create a New Inventory Item. Item code PN-Blue. Item name: Blue Office Pen Items for both purchase and sale Unit price for purchase: $1.80. Account: 300 Purchase. 15% GST on Expenses Unit price for sale: $2.50. Account: 200 Sales. 15% GST on Income Create a New Inventory Item for Red Office Pen (code: PN-Red) using similar information.

4. 8 December 2020. Create a Purchase order for 100 blue office pens and 50 red office pens from Office Supplies. Use the default unit prices and tax rates. Total amount $270 (tax exclusive).

5. 8 December 2020. Receive an invoice from Capital Cab Co. for Cab charges for staff travel in December 2020. Account: 493 - Travel National. Tax rate 15%. Total amount billed $180 (tax exclusive). Due 30 December 2020. Save and Approve the Bill.

6. 8 December 2020. Transfer $2,500 from Business Bank Account to Business Savings Account.

7. 8 December 2020. Add a new Expense Claim for yourself. Incurred Total amount $120 (tax exclusive) from Countdown for Biscuits, tea, and coffee for morning tea. Use account: 453 Office expenses.

8. 8 December 2020. Go to Fixed Assets. Specify depreciation for FA-0004 Desks, chairs, reception furniture for office as a new fixed asset. Specify depreciation for the new asset: Asset type: Office. Depreciation rate: 20%, straight line. Depreciation account: 416 Depreciation Register this asset.

9. 8 December 2020. Create a new invoice for Wilson Periodicals for the service PR-BR (project management and implementation) done on 2 December 2020. Quantity: 8 hours, $250 per hour. 15% tax rate. Total amount $2,000 (Tax exclusive), due 30 December 2020. Approve the Invoice.

10. 8 December 2020. Receive a bill for $1,100 (tax exclusive) from Net Connect for the electricity and phone charge for November 2020. Account: 489 Telephone and Internet. 15% tax rate. Due 28 February 2021.