BÀI TẬP THỰC HÀNH MYOB

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Company data

Company Address ABN Current Last Month Starter

name Financial of FY Chart
year
Your name + Your address 11 digits 2010 June Retail
Tiles Pty Ltd Other

Opening balance as at 1/5/2010

Accounts Dr Cr
Cash 55,000
Petty cash 1,000
Accounts Receivable 69,280
Merchandise Inventory 298,070
Prepaid Insurance 8,000
Prepaid rent 5,909
Furniture and Equipment 442,200
Accumulated depreciation 102,400
Accrued Salary and Wages 850
Accounts Payable 142,335
GST payable (Collected) 10,000
GST receivable (Paid) 8,000
Provisiom for Employee Entitlements 56,533
PAYG Witholding 7,500
Director Loan- (Due 31 March 2011) 50,000
Bank Loan due 30 June 2013 250,000
Share Capital 200,000
Retained Earnings 67,841
Customer details and Opening Balances

Customer Code Name Balance Transaction date

C001 17,500 3 March
C002 12,100 13 March
C003 5,800 2 April
C004 7,900 5 April
C005 250 26 March
C006 10,990 10 April
C007 6,540 12 April
C008 4,400 20 March
C009 1,800 8 April
C010 2,000 28 February

Supplier details and Opening Balances

Supplier Code Balance Invoice date

S001 46,000 15 April
S002 32,500 16 March
S003 32,400 12 April
S004 18,650 20 April
S005- Telstra ltd 485 31 March
S006-Stationery 370 28 April
S007- Car repairs 550 16 March
S008- Rent landlord 6,700 30 April
S009-Advertising Co 4,250 29 March
S010-Accountant 430 1 April
 Inventory Details and Opening Balances:
Product Code Quantity Unit Cost ($/sqm) Unit selling price
(GST excluded)
(square metre)
P001 1500 25 50
P002 350 15 30
P003 800 10 20
P004 740 18 36
P005 1320 30 60
P006 2000 26 52
P007 2000 13 26
P008 1900 40 80
P009 1200 22 44
P010 700 20 40

Transactions for May 2010

Supplier Invoices:

Date Transactions (all amounts relating to customers include GST)

May 6 Received invoice from S001 for 500 sqm of P001 into warehouse for an
invoice total of 13,500
8 Received invoice from S005 for telephone account for the month amounting
to 835
10 Received Advertising invoice from S009 for May amounting to 4500
17 Invoice from S007 for petrol and repairs to company motor cars 550
19 Invoice from S010 for accounting fees was received amounting to 670
21 Invoice from S006 for office stationery purchased and used in May for 150
21 Received invoice from S004 for 36,300 for 1100 sqm of P005
30 Received invoice from S008 for rent of business premises 36,300 for June

Sales Invoices

Date Transactions (all amounts relating to suppliers exclude GST)

May 3 Invoice to C003 for 50sqm of P001
3 Cash sale of 60 sqm of P002
 4 Cash sale of 90 sqm of P009, 63 sqm of P007, 25 sqm of P005
4 Invoice to C008 for 100 sqm of P003 and 50 sqm of P009
5 Invoice to C004 for 100 sqm of P006 and 50 sqm of P010
5 Cash sale of 155 sqm of P008
8 Invoice to C009 for 200 sqm of P005,300 sqm of P007 and 50 sqm of P004
8 Cash sale of 45 sqm of P004 and 10 sqm of P003
15 Invoice to C005 for 125 sqm of P002
16 Cash sale of 80 sqm of P007
20 Invoice to C006 for 300 sqm of P009 and 400 sqm of P008
25 Cash sale of 85 sqm of P006, 30 sqm of P010
30 Invoice to C003 for 65 sqm of P002 and 200 sqm of P004

Cash receipts

Date Transactions (all amounts relating to suppliers exclude GST)

May 5 Cheque received from C001 for 7,500
6 Payment received from customer C006 for 10,990
16 Customer C002 paid 12,100 on account
25 Cheque received from customer C007 for 6540
27 Customer C003 paid 5800 being the balance owing as at 1 May
28 Dividend cheque received from NRMA for 860
30 Customer C004 paid 7900 being the balance owing as at 1 May

Cash payments to suppliers

Date Transactions
May 4 Paid supplier S005 by cheque the amount of 485 (cheque no.1002)
17 Paid supplier S004 the outstanding balance as at the start of the month
18650 (cheque no.1006)
24 Paid S008 the amount owing as at the start of the month 6,700 (cheque
no.1008)
30 Paid S008 balance owing at the start of the month 46,000 (cheque no.1012)

Miscellaneous Cash payments

Date Transactions
May 3 Petty cash reimbursement cheque for sundry office expenses amounting to
457 was drawn (cheque no. 1001)
7 Paid wages of 4350 (include accrued wages as at 1 May) (cheque no. 1003)
12 Purchased office stationary for 363 (cheque no. 1004)
14 Paid wages of 3500 (cheque no. 1005)
21 Paid wages of 3500 (cheque no. 1007)
26 Paid 580 by cheque to a handy man for general repairs (cheque no. 1009)
 27 Paid GST obligation owing for April as per Trial balance (cheque no. 1010)
28 Paid wages of 3500 (cheque no. 1011)
30 Paid PAYG Withholding owing as at 1May (cheque no. 1013)

Cash receipts and cash payments

Date Transactions
May 15 Periodic payment for lease of POS equipment $950 for the month of June
was debited to the bank account
18 Periodic payment for lease of Motor Car for the month 1340
25 Direct deposit from customer C009 for 1800 for the balance of his account
as at 1 May
30 Bank charges of 158 were charged to the account
31 Gross wages for the month amounted to 22,000 of which 14000 has been
paid and the PAYG taxation withheld from employees wages during the
month amount to 6000. The PAYG tax of 6,000 will be paid in June 2010
(the difference between wages paid plus PAYG tax and total wages for the
month will need to be accrued)
End of period adjusments May 31
- Furniture and equipment is depreciated at 20% pa prime cost method. Depreciation is
calculated using the following formula (Original cost*20%*days in month/days in year)
- Prepaid insurance represented the premium paid on a one year policy which commenced
on 1/1/2010 (written off over 12 months)
- The company bank loan is charged interest at 9% pa and is accrued at the end of each
month (Interest= bank loan * interest rate* days in month/days in year)
- Electricity expense for May is to be accrued amounting to 520
-Prepaid rent on 1 May related to the month of May has now expired
On 31 May, after the Depreciation charge was made, the business sold obsolete Furniture
and Equipment that had a written down value of 4200 at the end of the month, for 3300
cash (GST included). The Furniture and equipment had originally cost 12200.