Financial Accounting Assignment: Journal Entries, T-Accounts, and GST

This document presents a comprehensive solution to a financial accounting assignment. The assignment encompasses multiple components, including preparing general journal entries for AM Airways Pty Ltd, recording journal entries in T-accounts for Accounts Payable and Cash at Bank for Wood Industries Limited, determining the need for reversing entries for FATE Education Ltd, and preparing journal entries for Amy Hairdressing Pty Ltd, considering GST implications. The solution provides detailed journal entries, T-account balances, and assessments of reversing entry requirements, offering a complete guide to solving the assignment's requirements. The assignment covers a wide range of accounting concepts including accruals, prepayments, GST, and the preparation of financial statements.