Fitness Factory Accounting Technology & Process Assignment

This document presents a detailed solution to an accounting assignment for Fitness Factory Pty Ltd, a small retail business. The solution encompasses various aspects of accounting, including the chart of accounts, general journal entries, sales journal, purchases journal, cash payments journal, cash receipts journal, and petty cash journal. It also includes an inventory subsidiary ledger and an accounts receivable subsidiary ledger. The assignment covers the recording of transactions for the month of November 2018, based on provided source documents, including tax invoices, office memoranda, and bank deposit slips. The accounting policies, such as accrual basis of accounting for both accounting and GST purposes, are also considered. The solution demonstrates the application of accounting principles to record financial transactions and prepare financial statements.