myob textbook 2nd Edition

Create the following new accounts

1-0030 Office Equipment (Header account)

1-0031 Office Equipment at Cost (Detail account)

1-0032 Acc Dep - Office Equipment (Detail account)

Account Number
Account Names
1-1000
Current Asset (Header)
1-1050
Cash on Hand (Header)
1-2100
General Cheque Account
1-2140
Petty Cash
1-0021
Furniture and Fittings at Cost
1-0022
Acc Dep - Furniture and Fittings at Cost
6-3100
Telephone
6-3200
Utilities
6-3300
Local Transport
6-3400
Rent
6-3500
Insurance
6-3600
Printing and Stationery

Capital contribution of RM 50,000 on 1/7/2008 by the owner of the company, Mr. John W Smith to start his company

3/7/08 Received another cheque for RM50,000 from Mr. John W Smith for additional capital contribution

31/7/08 Received RM 200 cheque from supplier Fast Computers as cash rebate on office equipment purchased.

3/7/08 Payment for purchase of office equipment from Fast Computers. A cheque (330100) for RM 20,000 was issued

5/7/08 Cash purchase for 50 pieces of Ring Files to bind your Office documents from Star Office Suppliers Ltd. A Cheque (330101) for RM 120 was issued

15/7/08 – RM 212.40 payment to QuikTelecom for telecommunications and telephone expenses, cheque # 330102

26/7/08 - RM 130.89 payment for July’s utilities to National Utilities Board, cheque # 330108

29/7/08 – RM 6,050 payment for office rent to landlord Frank Watters Management; cheque # 330104

30/7/08 – RM 339.44 payment for Best Catering Foods, cheque # 330105 for refreshments on office opening ceremony. This should be charged to the 6-3900 Miscellaneous Office Expense account

7/7/08 RM 1,000 cheque # 330106 to create a new petty cash account.

20/7/08 Mr. John W. Smith makes a claim for local transport chargers incurred. RM45.50 was issued to him in cash from the petty cash account.

Let’s try to perform a bank reconciliation for July 2008

You received the bank statement on 3/8/08, and the