Inventory, Receivables and Payables - MYOB AccountRight Practice Set

This MYOB AccountRight practice set focuses on managing inventory, receivables and payables. The feedback page provides instructions to print reports and transcribe results for Intermaweb Computer. The reports include Items List [Summary], Aged Receivables [Summary] and Aged Payables [Summary]. The practice set is updated for MYOB v19 and is suitable for Australian learners.

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MYOB AccountRight Practice Set
Australian Edition 3, Updated for MYOB v19
Feedback: Inventory, receivables and payables
This is a feedback page. Please review this page carefully. It includes the original questions along with grading of your
responses and detailed feedback. After you have reviewed this feedback page, click Continue at the bottom of this page
for the next page of your practice set.
Now that you have prepared the adjusted trial balance for
Intermaweb Computer, Leonardo asks you to provide the values of
inventory items on hand, and the current balances of each customer
and supplier account.
Instructions
Use MYOB to print the following reports for Intermaweb
Computer as of 31 January 2017:
Items List [Summary] report - include line items with zero
quantities
Aged Receivables [Summary] report - include line items
with zero balances
Aged Payables [Summary] report - include all zero balances
Transcribe your results into the reports provided below. Note
that if MYOB displays a negative sign in front of a number, you
must display that amount as a negative number. Additionally, if
MYOB presents numbers in brackets, you must enter those
numbers as negative numbers.
Items List [Summary] report
The report below shows the value of all items that are currently in
stock as of 31 January 2017:
Intermaweb Computer
Items List [Summary]
31/01/2017
Item Name Total Value ($)
BlueBerry phones 4560
DK800 desktop computers 29200
NR759 video recorders 31980
Swish Phones 17500
Total
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Navigating your practice set
Accounting policies and procedures
Creating the company file
Setup information
Spend money (first transaction)
Transactions list (to January 31)
Bank reconciliation information
Reconciliation report
Trial balance (pre adjustments)
Adjusting entries information
Adjusted trial balance
Feedback
Intermaweb Computer
Items List [Summary] Report
31/01/2017
Item Name Total Value ($)
BlueBerry phones 4,560
DK800 desktop computers 29,200
NR759 video recorders 31,980
Swish Phones 17,500
Total 83,240
Aged Receivables [Summary] report
The Aged Receivables [Summary] report for Intermaweb Computer as of 31 January 2017 is shown below:
Intermaweb Computer
Aged Receivables [Summary]
31/01/2017
Name Total Due ($)
Pikea 10023
Radio Hut 17237
Turbo Tech 39435
Total
Feedback
Intermaweb Computer
Aged Receivables [Summary]
31/01/2017
Name Total Due ($)
Pikea 10,023

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45398
Radio Hut 17,237
Turbo Tech 39,435
Total 66,695
Aged Payables [Summary] report
The Aged Payables [Summary] report for Intermaweb Computer as of 31 January 2017 is shown below:
Intermaweb Computer
Aged Payables [Summary]
31/01/2017
Name Total Due ($)
JCN Electrical 0
Moon Megasystems 20054
Pony 25344
Total
Feedback
Intermaweb Computer
Aged Payables [Summary]
31/01/2017
Name Total Due ($)
JCN Electrical 0
Moon Megasystems 20,054
Pony 25,344
Total 45,398
MYOB AccountRight Practice Set, Australian Edition 3, Updated for MYOB v19 (VMA3t.19)
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