The Case Study
Based the fact given, you are required to :
1. Setup the company data file : [4 marks]
System Preferences : Tick the option for “Warn if Jobs Are Not Assigned to All Transaction [System-Wide]”
Windows Preferences : Untick option for “Automatically Check Spelling in Text Fields Before Recording Transaction”
Sales Preferences : Tick the option for : “Warn for Duplicate Invoices Numbers on Recorded Sales”
Purchases Preferences Security Preferences
: :
Tick the option for : “Warn for Purchase Orders Numbers on Recorded Purchases”
Click User IDs to add new User ID as your Name.
2. Setup the List below : [8 marks]
Setup the following account list
- The Company don’t use the following account codes anymore : 1-2120 Payroll Cheque Account
1-2130 Cash Drawer
1-2210 Less Prov’n for Doubtful Debts
- The Company changes some account list as follows : 1-2140 Petty Cash, Change to 1-2120
1-2160 Undeposited Funds, Change to 1-2130 Undeposited Cash - The Company need to add the following accounts :
Account # Account Type Header/Detail Level
2-2340 GST Clearing Other Liability Detail 4
Mr. Bustomi is the owner of the company “DINAMIKA, PT”.
As Sporting Goods Dealer, Mr. Bustomi buys and sells sporting goods to end users.
Mr. Bustomi decided to use MYOB Premier v12 accounting software for preparing his company 1 January to 31 December 2011 Financial Year Reports and prefer to use the 13th accounting period for the audit trial adjustment.
Please use one of the account list provided by MYOB Accounting v19. So you don’t need to set up the account list completely.
Setup the following information: The Company address : Jakarta Tel : 021-5707070
Fax : 021-5707080
Email : [email protected]
Setup the tax code as GST (Goods and Services Tax), Tax Type : Goods & Services Tax, Rate : 10%
Setup the Job List as R for Retail, S for Services.
Setup the Categories List as JKT for Jakarta, MLG for Malang. Setup the items list as follows :
Item No. HG OT MB CT
Description Home Gym Orbitrek Magnetic Bike Cross Trainer
Selling Price $900 $1000 $1,100 $1,250
Tax Code When Bought/Sold
N-T N-T N-T N-T
Selling Unit of Measure
Unit Unit Unit Unit
I Buy This Item Purchases Purchases Purchases Purchases
I Sell This Item Sales Sales Sales Sales
I Inventory This Item Merchandise Inventory Merchandise Inventory Merchandise Inventory Merchandise Inventory
Setup the following customer and supplier list :
SANDIAGO (Customer) BIG JAYA (Supplier) TAKOMA (Customer) PURNAMA (Supplier) SADINO (Customer) ICON (Supplier) Setup the employees list : Merry, Rahmat and Mariana
3. Setup Balance Sheet information as 01 January 2011 [8 marks] Account# Account YTD Debit YTD Credit
1-1310 Bldgs & Imprv at Cost $30,000
1-1320 Bldgs & Imprv Accum Dep $150 1-2110 Cheque Account $20,000 1-2120 Petty Cash $2,000 1-2200 Trade Debtors $5,500 1-2300 Merchandise Inventory $14,000 2-2200 Trade Creditor $6600 2-2310 GST Collected $600 2-2330 GST Paid $500 3-1100 Owner/Sharehldr Capital $54,650 3-8000 Retained Earnings $10,000 Total : $72,000 $72,000
Setup the following ending balance as 31 Dec 2010 :
SANDIAGO $1,500 inc.GST, [Inv#:S-100001,PO#:SDG-100001] [Category : JKT] TAKOMA $2,000 inc.GST, [Inv#:S-100002,PO#:TKM-100001] [Category : MLG] SADINO $2,000 inc.GST, [Inv#:S-100003,PO#:SDN-100001] [Category : JKT] BIG JAYA $2,300 inc.GST, [PO#:P-100001,Inv#:BJ-100001] [Category : MLG] PURNAMA $2,300 inc.GST, [PO#:P-100002,Inv#:PM-100001] [Category : JKT] ICON $2,000 inc.GST, [PO#:P-100003,Inv#:IC-100001] [Category : MLG]
Setup the following inventory opening balance as 01 January 2011 : Home Gym = 4 unit for $800/unit
Orbitrek = 5 unit for $900/unit Magnetic Bike = 4 unit for $1,000/unit
Cross Trainer = 2 unit for $1,150/unit [Journal# : I-110001 ] [Category : JKT]
4. The following transactions are made in January 2011. Record these transactions in MYOB according to the dates and details given below.
02 Jan 2011
A purchase was raised to purchase the following inventory item from main supplier, BIG JAYA on net 30 days credit terms. (PO#: P-110001, Supplier Inv#:BJ-110001)
Received 2 unit Home Gym (HG) for $800.-/unit (Job : R) (Exclude 10% GST) each.
Received 4 unit Cross Trainer (CT) for $1,150.-/unit (Job : R) (Exclude 10% GST) each. [Category : MLG] POINT [4 marks] 03 Jan 2011
Raised purchase to ICON for advertising $550 (Include 10% GST) on COD
Terms. (PO#: P-110002, Supplier Inv#: IC-110001). Bill was received. [Job : S] [Category : MLG]
Full Payment to ICON from Cheque Account [Cheque No : D-110001] for total amount $550 for bill on 3 Jan 2011.
POINT [4 marks] [4 marks] 04 Jan 2011
Return 1 of Home Gym (HG) for $800 (Exclude 10% GST) to BIG JAYA, (PO#:P-110003, Supplier Inv#: BJ-110001) (Job : R) . Edit Journal Memo with
“Purchase Return; BIG JAYA”. [Category : MLG]
Immediately applied the Debit note to Trade Creditor balance for BIG JAYA [ID#:P-110003] for bill on 2 Jan 2011.
POINT [2 marks] [2 marks] 15 Jan 2011
Sold the following items to SANDIAGO on Net 15days terms (Inv#: S-110001, Cust PO#: SDG-110001 ). All the goods and invoice was delivered:
Ship 1 unit of Home Gym (HG) for $990 (Include 10% GST) each [Job: R] Ship 1 unit of Magnetik Bike (MB) for $1,210 (Include 10% GST) each [Job: R] Ship 3 units of Cross Trainer (CT) for $1,375 (Include 10% GST) each [Job: R]
[Salesperson: Merry], [Category: JKT].
POINT [4 marks]
16 Jan 2011
Sold the following items to TAKOMA on Net 20 days terms (Inv#:S-110002, Cust PO#:TKM-110001). All the goods and invoice was delivered :
Ship 2 units of Home Gym (HG) for $900 (Exclude 10% GST) each [Job : R] Ship 1 unit of Orbitrek (OT) for $1,000 (Exclude 10% GST) each [Job : R]
[Salesperson : Rahmat], [Category : MLG]
POINT [4 marks]
18 Jan 2011
Issued $100 Rebate Credit Notes to TAKOMA [Inv#: S-110003, Cust PO#:TKM-110001] as Discount Taken rebate and edit Journal Memo with “Sale Discount: TAKOMA”. [Salesperson: Rahmat], [Category: MLG].
Immediately Pay Refund [Cheque No: D-110002] for the $100 Sales Rebate to
POINT [2 marks]
19 Jan 2011
Partly payment of $1000.- for invoice on 16 Jan 2011 was received from TAKOMA and deposits to Cheque Account [ID#: R-110001].
POINT [4 marks] 20
Jan 2011
Use Spend Money [Cheque No: D-110003] to record expenses from Cheque Account $1,000 for Store Supplies [Category : JKT].
POINT [4 marks] Use Receive Money [ID#: R-110002] to record : Deposit $500 to Cheque
Account for $550 Bank Interest Income And $50 Bank Charges [Category JKT].
[4 marks]
5. Perform Bank Reconciliation for the month of Jan 2011 for Cheque Account the Bank statement shows a balance of $19,950 on 31 Jan 2011.
[4 marks]
6. In addition to the transaction above, prepare a journal entry to record the depreciation on 31 Jan 2011, for the following asset categories [GJ#:G-110001] [Category : JKT] :
Office Equipment $150
Save as Monthly Recurring Transaction start from 28 Feb 2011 for those journal then use the recurring and record depreciation journal for 28 Feb 2011 [GJ#:G-110003] [Category : JKT]
Prepare a journal entry to record the GST Clearing journal on 31 Jan 2011 [GJ#:G-110002] for Dec 2010. [Category : JKT]
[4 marks]
[4 marks]
7. On 31 Jan 2011, prepare adjust inventory to record Inventory Unit Cost Adjustment as COGS Account 5-1000 Purchases [IJ#: I-110002] of Cross Trainer (CT) for amount $150. [Job : R] [Category : JKT]
[4 marks]
8. Generate the following financial reports at 1 January – 31 January 2011 reports to PDF file format :
Standard Balance Sheet Profit & Loss (Accrual) General Journal
Bank Reconciliation report All Sales report
All Purchases report Item Register (detail) Cash Receipts Journal Cash Disbursement Journal
[4 marks]
9. From Security Preference, activate the option for “Use Audit Trail Tracking”, then Lock the Accounting period for 31 Jan 2011. BACKUP your MYOB company data file (ONLY), Check Company File for Error and Save the MYOB company data backup file name as Your name in Backup Folder.
[4 marks]
10. From Company Data Auditor – Transaction Review for 1 Jan 2011 to 31 Jan 2011, there is a “?” mark for Scan for Future Dated Transaction. Display it & Sent to PDF the reports. And then delete that Future Dated Transaction journal.
11. Delete all transaction on 04 Jan 2011 [4 marks] 12. Edit the Recurring Transaction Template of Fixed Assets Depreciation for
Office Equipment to $160 per month.
[4 mark s]
13. Modify to Microsoft Excel the Standard Balance Sheet reports as of Jan 2011 in T Format (like the sample below)
[4 marks] ~End of Assignment~ Dinamika, PT. Balance Sheet As of January 2011
ASSETS LIABILITIES & EQUITY
Assets Liabilities
Fixed Assets Current Liabilities
Motor Vehicle Trade Creditors $253,220.00 Motor Vehicle at Cost $30,000.00 VAT Liabilities Motor Vehicle Acc Dep ($3,325.00) VAT Collected $2,605.45 Total Motor Vehicle $26,675.00 VAT Paid ($14,520.00)
Total Fixed Assets $26,675.00 Total VAT Liabilities ($11,914.55)
Current Asset Total Current Liabilities $241,305.45 Bank & Cash in Hand Total Liabilities $241,305.45
General Cheque Account $135,244.00
HSBC Philippines $100,200.00
Petty Cash $2,000.00 Equity
Undeposited Funds $450.00 Paid Up Capital $150,000.00 Total Bank & Cash in Hand $237,894.00 Retained Earnings $4,984,428.62 Trade Debtors $103,560.00 Current Earnings ($120.47)
Inventory Total Equity $5,134,308.15
Inventory-Equipment $5,007,484.60
Total Inventory $5,007,484.60
Total Current Asset $5,348,938.60
Total ASSETS $5,375,613.60
Total LIABILITIES & EQUITY
$5,375,613.60
