LEVEL BASIC (MYOB Accounting v22)

(1)

Comment:

______________________________________________________________________________

Code:L1R2AG16

Effective from 21 Apr 2016

MYOB Qualification Test

LEVEL BASIC (MYOB Accounting v22)

All rights reserved; no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form by any means, electronic, mechanical, photocopying, recording, or otherwise without permission of Net21Plus. This book may not be lent, resold, hired out or

Please fill your data:

Full name

: ______________________________________________

Place & Date of Birth: ______________________________________________

Phone number

: ______________________________________________

(2)

The Case Study

Based the fact given, you are required to:

1. Setup the Company data file : [8 marks]

Mr. Rashid is the owner of the company “ART’O JOGLO GALLERY”.

As Art Gallery business type. Mr. Rashid buys and sells art product like paintings, photography, fine art and design.

Mr. Rashid decided to use MYOB Accounting v22 software for preparing his company 1 January to 31 December 2016 Financial Year Reports and prefer to use the 13th accounting period for the audit trial adjustment.

Please use one of the account list provided by MYOB Accounting v22.

So you don’t need to set up the account list completely.

Setup the following information:

Company Address : Kledokan CT XIX D20 Sleman, Yogyakarta Tel : 0274 – 554 385

Fax : 0274 – 554 386 Email : info@artjog.com

2. Setup the List below: [10 marks]

Setup the following Account List

- The Company don’t use the following account codes anymore :

 1-2120 Payroll Cheque Account

 1-2130 Cash Drawer

 1-2210 Less Prov’n for Doubtful Debts - The Company changes some accounts as follows :

 1-2140 Petty Cash, Change to 1-2120

 2-2300 GST Liabilities, Change to VAT Liabilities

 2-2310 GST Collected, Change to VAT Collected

 2-2330 GST Paid, Change to VAT Paid

- The Company need to add the following accounts :



2-2340 VAT Clearing

Delete all Tax Codes except N-T (Non Taxable), SR (Standard-rated supplies (GST7%)), TX7 (Purchases with GST 7%). Setup the Tax Code List as VAT (Value Added Tax), Tax Type: Goods & Services Tax, Rate: 10%.

(3)

Setup the Job List : P for Product, S for Service.

Setup the Categories List : YGK for Yogyakarta, CLP for Cilacap, BDG for Bandung. Setup the following Cards List:

S.K.G. (Customer)  CRAFT INDIE (Supplier)  RIFY (Employee)

CITY ART (Customer)  LINDI FINE ART (Supplier)  BUNGA (Employee)

PARK WEST (Customer)  ROYAL ART (Supplier)

Setup the Items List as follows:

Item No. JG PC PP

Item Name Joglo & Gazebo Planter Craft Prada Paint

I Buy This Item 5-1000 Purchases 5-1000 Purchases 5-1000 Purchases

I Sell This Item 4-1000 Sales 4-1000 Sales 4-1000 Sales

I Inventory This Item

1-2300 Merchandise Inventory

Tax Code When

Bought/Sold N-T N-T N-T

Selling Unit of

Measure Unit Unit Unit

(4)

3.Setup Opening Balance information as of 01 January 2016: [10 marks]

Setup the following ending balance as 31 Dec 2015:

Customer Name S.K.G.

Total Rp 11,000,000 Inc. VAT

Invoice# S-150001

Cust. PO# SG-150001

Category YGK

Supplier Name CRAFT INDIE

Total Rp 7,700,000 Inc. VAT

PO# P-150001

Supp. Inv# CI-150001

(5)

Setup the following inventory opening balance as 01 January 2016 [Journal#: I-160001]

4. The following transactions are made in January 2016. Record these transactions in MYOB according to the dates and details given below.

02 Jan 2016

A purchase was raised to purchase the following inventory item from main supplier, CRAFT INDIE, with Net 30th_{after EOM}_{credit terms.}_{(PO#:P-160001,} Inv#:CI-160001). Bill and goods was received.

Received 30 unit of Planter Craft (PC) for Rp 100,000.-/unit (Job: P) (Exclude

Raised purchase service for Art Advertising to ROYAL ART as Advertising (Acc#: 6-3100) Rp2,200,000.- (Include 10% VAT), with COD terms. (PO#: P-160002, Supplier Inv#: RA-160001). Bill was received. [Job: S] [Category : YGK]

Payment to ROYAL ART from Cheque Account [Cheque#: D-160001] with total Memo with "Purchase Return; CRAFT INDIE". [Category : YGK]

Immediatelly applied the Return-Debit note to Trade Creditor balance for CRAFT 160001, Cust PO#: CA-160001). All the goods & Invoices was Received:

Ship 5 unit of Joglo & Gazebo (JG) @Rp3,300,000.- (Include 10% VAT) [Job : P] 160001). Invoice was delivered. [Job: S][Salesperson : BUNGA] [Category : BDG] Full payment of Rp 1,100,000.- for invoice on 15 Jan 2016 was received from PARK WEST and deposits to Cheque Account [ID#: R-160001].

POINT with "Sale Discount: PARK WEST". [Job: S] [Category: BDG] [Salesperson: BUNGA]

POINT

(6)

Immediately Pay Refund [Cheque#: D- 160002] for the Rp 100,000.- Discount-following asset categories [GJ#:G-160001] [Category : YGK] :

 Store Equip Rp 200,000.-

Prepare a journal entry to record the VAT Clearing journal on 31 Jan 2016 [GJ#:G-160002] for Dec 2015. [Category : YGK]

[4 marks]

 Standard Balance Sheet

 Profit & Loss [Accrual]