Footscray Motors MYOB Accounting Assignment Solution - August 2018

This document presents a comprehensive solution to a MYOB accounting assignment for Footscray Motors Pty Ltd. The assignment required students to set up a company in MYOB Accountright Plus 2018.3, record transactions for August 2018, and generate key financial reports. The solution includes detailed account transactions (accrual basis), aged receivables and payables summaries, a trial balance, profit & loss statement, balance sheet, and bank reconciliation. The assignment assessed students' ability to use accounting software, process transactions, and produce financial statements. The solution demonstrates the correct application of accounting principles and the effective use of MYOB software to meet the assignment requirements. The student has included all the required reports in PDF format including the student ID in the company name as requested in the assignment brief.

S M Ishraq (s4595624) Footscray Motors
205 Ballarat Rd, Footscray
Park, 3015
ABN: 17 222 888 000
Created: 22/05/2019 1:21 AM
Account Transactions [Accrual]
August 2018
This report includes Year-End Adjustments.
Page 1 of 2
ID No. Src Date Memo/Payee Debit Credit Job No.
1-1110 Cheque Account
3351780 CD 13/08/2018Trust Real Estate $1,100.00
3351781 CD 18/08/2018Payment; Exhaust Pipes Ltd $6,600.00
3351782 CD 20/08/2018Power Ltd $880.00
4001 CR 20/08/2018Payment; Andy’s Repairs $7,700.00
3351783 CD 24/08/2018Payment; Car Parts Ltd $6,600.00
4002 CR 27/08/2018Payment; Dolly’s Auto Repairs $5,940.00
$13,640.00 $15,180.00
1-1310 Debtors
00006301 SJ 02/08/2018Sale; Andy’s Repairs $7,700.00
00006302 SJ 05/08/2018Sale; Dolly’s Auto Repairs $6,160.00
C156 SJ 10/08/2018Sale Return; Dolly’s Auto Repairs $220.00
SJ000001 SJ 10/08/2018Dolly’s Auto Repairs: Credit from C156 $220.00
SJ000001 SJ 10/08/2018Dolly’s Auto Repairs: Credit from C156 $220.00
4001 CR 20/08/2018Payment; Andy’s Repairs $7,700.00
00006303 SJ 26/08/2018Sale; Panel Kings $12,540.00
4002 CR 27/08/2018Payment; Dolly’s Auto Repairs $5,940.00
$26,620.00 $14,080.00
1-1320 Merchandise Inventory
IJ000001 IJ 01/08/2018Inventory count $2,500.00
IJ000001 IJ 01/08/2018Inventory count $5,000.00
IJ000001 IJ 01/08/2018Inventory count $8,000.00
IJ000001 IJ 01/08/2018Inventory count $500.00
IJ000001 IJ 01/08/2018Inventory count $16,000.00
00006301 SJ 02/08/2018Sale; Andy’s Repairs $4,000.00
00006302 SJ 05/08/2018Sale; Dolly’s Auto Repairs $3,300.00
00000002 PJ 08/08/2018Purchase; Car Parts Ltd $6,000.00
C156 SJ 10/08/2018Sale Return; Dolly’s Auto Repairs $100.00
00000003 PJ 12/08/2018Purchase; Wheels Ltd $3,000.00
00006303 SJ 26/08/2018Sale; Panel Kings $7,200.00
00000004 PJ 30/08/2018Purchase; Car Parts Ltd $6,000.00
00011493 PJ 31/08/2018Purchase; Car Parts Ltd $2,000.00
IJ000002 IJ 31/08/2018Inventory count $100.00
$31,100.00 $32,600.00
2-1210 GST Collected
00006301 SJ 02/08/2018Sale; Andy’s Repairs $700.00
00006302 SJ 05/08/2018Sale; Dolly’s Auto Repairs $560.00
C156 SJ 10/08/2018Sale Return; Dolly’s Auto Repairs $20.00
00006303 SJ 26/08/2018Sale; Panel Kings $1,140.00
$20.00 $2,400.00
2-1220 GST Paid
00000002 PJ 08/08/2018Purchase; Car Parts Ltd $600.00
00000003 PJ 12/08/2018Purchase; Wheels Ltd $300.00
3351780 CD 13/08/2018Trust Real Estate $100.00
3351782 CD 20/08/2018Power Ltd $80.00
00000004 PJ 30/08/2018Purchase; Car Parts Ltd $600.00
00011493 PJ 31/08/2018Purchase; Car Parts Ltd $200.00
$1,680.00 $200.00
2-1510 Creditors
00000002 PJ 08/08/2018Purchase; Car Parts Ltd $6,600.00

S M Ishraq (s4595624) Footscray Motors
205 Ballarat Rd, Footscray
Park, 3015
ABN: 17 222 888 000
Created: 22/05/2019 1:21 AM
Account Transactions [Accrual]
August 2018
This report includes Year-End Adjustments.
Page 2 of 2
ID No. Src Date Memo/Payee Debit Credit Job No.
00000003 PJ 12/08/2018Purchase; Wheels Ltd $3,300.00
3351781 CD 18/08/2018Payment; Exhaust Pipes Ltd $6,600.00
3351783 CD 24/08/2018Payment; Car Parts Ltd $6,600.00
00000004 PJ 30/08/2018Purchase; Car Parts Ltd $6,600.00
00011493 PJ 31/08/2018Purchase; Car Parts Ltd $2,200.00
PJ000001 PJ 31/08/2018Car Parts Ltd: Debit from 00011493 $2,200.00
PJ000001 PJ 31/08/2018Car Parts Ltd: Debit from 00011493 $2,200.00
$17,600.00 $18,700.00
4-1000 Sales or Revenue
00006301 SJ 02/08/2018Sale; Andy’s Repairs $7,000.00
00006302 SJ 05/08/2018Sale; Dolly’s Auto Repairs $5,600.00
C156 SJ 10/08/2018Sale Return; Dolly’s Auto Repairs $200.00
00006303 SJ 26/08/2018Sale; Panel Kings $11,400.00
$200.00 $24,000.00
5-1000 Cost of Sales
00006301 SJ 02/08/2018Sale; Andy’s Repairs $4,000.00
00006302 SJ 05/08/2018Sale; Dolly’s Auto Repairs $3,300.00
C156 SJ 10/08/2018Sale Return; Dolly’s Auto Repairs $100.00
00006303 SJ 26/08/2018Sale; Panel Kings $7,200.00
$14,500.00 $100.00
6-1110 Rent Expenses
3351780 CD 13/08/2018Trust Real Estate $1,000.00
$1,000.00 $0.00
6-1700 Electricity Expenses
3351782 CD 20/08/2018Power Ltd $800.00
$800.00 $0.00
6-1800 Loss of inventory
IJ000002 IJ 31/08/2018Inventory count $100.00
$100.00 $0.00