Professional Documents
Culture Documents
Semester 3, 2015
Due Date:
5pm, 14 December 2015 (Monday)
This is a group assignment (work in pair). Your team will be made up of 2 students. You must
add initials of group members first names to any new item you create, e.g. account name,
inventory item description, customer & supplier names etc. If you fail to do so, you will lose 50% of
the total mark allocated for this assignment.
It is your responsibility to back-up your assignment regularly. You should work on one MYOB
file only, which later to be submitted. It would be a good option to share the file among the team
members via cloud storage (ie. Dropbox, Box Sync)
SCENARIO
The organizations name is Adventures Pty Ltd. The company operates a retail shop to sell sport
equipment. The company also has a website to tap into the online shopping market with free
delivery. Sales are made on both cash and credit. There are discounts for early payment of credit
sales. Purchases are made only on credit with agreed credit terms from selected suppliers. The
main customers of the company are public and private schools around the country
Andy is the owner and also the sole director of the company. There are three employees: Jack is
the sales manager, Mark is sales staff, and Paula is employed part-time on a casual basis to
perform administrative tasks.
Getting Started:
You will need to create the data file. The assignment file name is: MYOB32015.
Enter the name of the organisation in the Company Name field and the members names and
student numbers in the Address field. This will ensure that any reports that are printed can be
identified. Failure to do so will result in awarding a Zero for whole assignment.
The conversion month is October, current financial year is 2016; choose 12 accounting periods. In
the Account List creation screen, select the option to start with one of the list provided (1st option).
Choose appropriate business type and industry to have the most suitable list. The right selection of
account list will greatly assist you in setting the Chart of Accounts as per below requirement;
otherwise, you will have to spend significant time to edit the Account List.
Page 2
Account name
Assets
1-1000
Current Assets
ACB Bank Account
Petty Cash
Amount
Account
number
3-0000
Account name
Amount
Equity
Owner/Shareholder's Equity
$42,218.3
4
$800.00
Owner/Sharehldr Capital
$55,000.00
Owner/Sharehldr Drawings
Undeposited Fund
Retained Earnings
Accounts Receivable
4-0000
Income
4-1000
Sales
???
$6,693.80
Provision for Doubtful Debts
1-1300
Merchandise Inventory
Summer Gear
$5,486.25
Winter Gear
$5,130.37
Prepaid Expense
Deposits Paid
1-2000
???
$700.00
Fixed Assets
Miscellaneous Income
5-0000
Cost Of Sales
5-1000
Motor Vehicles
Motor Vehicles at Cost
Motor Vehicles Accum Dep
Office Equipment
Office Equip at Cost
Office Equip Accum Dep
Expenses
6-1000
$22,520.0
0
-$3,002.70
Discounts Given
Bank Charges
Store Equipment
Store Equipment at Cost
Store Equipment Accum Dep
2-0000
Liabilities
2-1000
Current Liabilities
Accounts Payable
Depreciation
$13,650.0
0
-$2,730.00
6-3000
6-4000
Operating Expenses
Delivery Expenses
$5,574.27
Page 3
Interest Payable
???
Short-term loan
Rent
GST Liabilities
GST Collected
GST Paid
Accrued Expense
$2,102.34
6-5000
-$1,898.65
Superannuation
???
Payroll Liabilities
Employment Expenses
Wages & Salaries
8-0000
Other Income
Interest Income
Discounts Taken
$8,023.21
2-2000
9-0000
$35,000.0
0
Other Expenses
Interest Expense
Income Tax Expense
$60,150.8
9
$60,150.89
The above account list must be matched exactly (name and category). You may need to
modify account names, create extra accounts and adjust linked accounts setup in order to
achieve that. It is optional to leave other accounts being automatically created by MYOB
undeleted.
B. Identify the value at each Yellow Space with question marks using below information
(you need to identify the relevant information for each value):
Amounts are GST exclusive
Paid $250 on 20 September 2015 for advertising in Travel magazine to be published in October
2015.
Paid $4,200 on 30 September 2015 for 3 months shop rental starting from 1 October 2015.
Adventures Pty Ltd owes the below suppliers (bills received), all amounts remain unpaid by 30
September 2015:
o HSBC bank loan of $35,000 was acquired on 1 July 2015, the annual interest rate is
12%, the interest is payable every 3 months. The first interest payment will be on 5th
October 2015;
o $680 for leaflets printing to be paid to Vistaprint on 7th October 2015;
o $2,200 for webpage designing from Magicdust, payable on 10th October 2015.
Page 4
Australian Sport
Academy
C001
Morala Ave
Gold Coast
QLD
4216
9419 5805
Melanie
12 345 678 910
On 14th each month
$15,000.00
APT Travel
Harvey World
Travel
C002
C003
C004
339 North Rd
Humphreys Way Kessels Rd
Caulfield South Rowville
Nathan
VIC
VIC
QLD
3162
3178
4111
9380 4062
9580 4576
9866 2685
Chris
Carol
Gregory
32 142 746 523 45 689 456 637
32 789 543 121
2/10 Net 45
3/7 Net 30
2/10 Net 45
$12,000.00
$12,000.00
$15,000.00
Bankwest
Aged Receivables
Customer
INV #
Date
Australian Sport Academy
842
26/08/2015
856
2/09/2015
APT Travel
831
15/08/2015
Bankwest
834
17/08/2015
Harvey World Travel
861
8/09/2015
Total Due
$1,440.60
$693.80
$1,559.30
$449.70
$2,550.40
B. Set up the Purchases Module: enter individual vendor details and enter historical balances.
You must enter your initials immediately after the names of the vendors.
Suppliers Detail
Suppliers allowing credit facilities as at 30th September 2015
Vendor
Card ID
Address
Suburb
State
Postcode
Phone #1
Contact
Kathmandu Pty
Ltd
S001
45 Rundle Street
Adelaide
SA
2035
9666 6114
Jane
Travel Universe
Pty Ltd
S002
S003
678 South Road
576 Main Road
Renmark
Mordialloc
SA
VIC
3037
3195
9203 1651
1800 126 659
John
Alison
Annapurna Pty Ltd
Page 5
ABN
Terms
Credit
Limit
$25,000.00
$25,000.00
$20,000.00
Aged Payables
Supplier
Supplier
INV #
Kathmandu Pty Ltd
7215
7554
Annapurna Pty Ltd
3120
3300
Travel Universe Pty Ltd
5921
6153
Paddy Pallin Pty Ltd
1238
1245
Date
12/08/2015
1/09/2015
17/08/2015
5/09/2015
14/09/2015
3/09/2015
23/08/2015
8/09/2015
$20,000.00
Total
Due
$1,519.80
$1,919.00
$174.97
$329.45
$148.00
$599.90
$389.00
$494.15
C. Set up the Inventory Module: The Inventory items need to be entered with all their
accompanying details. You must enter your initials immediately after each product name.
- Selling price and cost value shown below are GST exclusive
- Adventures Pty Ltd uses perpetual inventory system
- Buying/selling unit: item
Inventory Details
Inventory Details as at 1st October 2015
Unit
Price
Restock
Alert
Vendor
Item #
Default
Reorder
Kathmandu
SB128
20
30
Kathmandu
B3512
20
$75.00
30
Annapurna
ST655
20
$110.00
20
Annapurna
DT912
20
Jacket
$84.54
30
Travel Universe
J3647
20
W002
Binocular
$28.00
30
Travel Universe
B2375
20
W003
Helmet
$35.00
30
Paddy Pallin
H232
20
W004
Thermal
pants
$145.00
40
Paddy Pallin
TP294
30
Item #
Name
S001
Sleeping bag
$62.20
30
S002
Backpack
$45.45
S003
Single tent
S004
Double tent
W001
Principal Vendor
Page 6
Quantity
on hand
Item #
Name
S001
S002
S003
S004
W001
W002
W003
W004
Sleeping bag
Backpack
Single tent
Double tent
Jacket
Binocular
Helmet
Thermal pants
Cost Value
(Excl. GST)
35
50
22
45
31
40
33
37
$1,050.00
$1,136.25
$825.00
$2,475.00
$1,310.37
$560.00
$577.50
$2,682.50
Sales / COGS
Category
Summer Gear
Summer Gear
Summer Gear
Summer Gear
Winter Gear
Winter Gear
Winter Gear
Winter Gear
D. Set up the Payroll Module: Complete the payroll set up for all employees as shown below.
You must enter your initials immediately after each employee surname (last name).
Payroll Details
Payroll Details as at 30th September 2015
Name
Position (card ID)
Address
Phone
Start date
Pay basis
Annual/hourly rate
Pay frequency
Tax File Number
Tax scale
Jack Cino
Manager
Mark Locke
Sales
Paula Ford
Admin
45 Evans Street,
Port Melbourne,
VIC 3207
15 Dean Street,
Bairnsdale,
VIC 3875
9427 0524
20/04/2015
Salary
$75,000
fortnightly
787-999-676
Tax Free
Threshold
9557 8929
11/05/2015
Salary
$35,000
fortnightly
222-565-474
Tax Free
Threshold +
9550 5554
24/03/2015
hourly
$30
fortnightly
222-565-878
Tax Free Threshold
HECS or HELP
Workcover
insurance
SGC Super
Salary sacrifice
per month (paid
1st period)
RAMS Home Loan
per pay period
Union Fees per
pay period
Payment method
2%
2%
2%
9%
$350.00
9%
$25.00
9%
$460.00
$150.00
$3.50
cheque
Adventures
PtyLtd
Bank Branch (BSB)
Account Number
Trading Name
083-456
111 333 343
Travel Shop
cheque
cheque
Page 7
Bank Code
Holiday balance
as at 01/10/2015
ACB
Paula Ford
Not entitled to any type of leave
2 hours
2 hours
$400
Page 8
Page 9
Oct 15
2nd
Transaction Details
- Received payment from APT Travel via direct transfer
- Online sales of 4 Sleeping bags, 2 Jackets and 2 Thermal Pants. Payment made
RMIT University
RMIT
via Visa
Card (name: Megan Fix, card number: 5468 3636 2072 0975, expiry date:
10/16)
3rd
- Cash sales: 4 Helmets, 8 Single tents, 4 Thermal pants, 8 Sleeping bags, 10
Backpacks and 6 Binoculars
th
5
- Pay HSBC interest payment as due, cheque #634
- Pay Travel Universe as per agreed term, cheque #635
- Monday schedule: checks the Stock Alert (To Do List) and order Summer Gear
stock (only) as needed. All stock is to be ordered at their current cost price at default
reorder quantity
th
6
- Sales return from cash sales on 3 rd October due to defect: 1 Backpack and 2
Helmets. The returned stocks were written off to defective stock expense. The
customer received refund in cash on the day
- Stock ordered arrived with bills from suppliers (Refer to assumption for delivery
time and charge)
th
7
- Pay Vistaprint for leaflets printing as due, cheque #636
- Bank deposit day
8th
- Received notice from the merchant service for Visa card payment on 2nd October
- Pay all outstanding amount to Paddy Pallin with cheque #637, to Kathmandu with
cheque #638, to Annapurna with cheque #639 (may gain discount for early payment)
th
- First payday of the month. All payments made by cheques: Jack - cheque #640,
10
Mark - cheque #641, Paula - cheque #642
- Pay Magicdust for webpage designing as due, cheque #643
th
12
- Monday schedule: checks the Stock Alert (To Do List) and order stock as needed.
All stock is to be ordered at their current cost price at default reorder quantity (Refer
to assumption for delivery time and charge)
- Received bill from TNT Express for $440 delivery service, term 2/10 Net 30
14th
- Received payment by cheque #258 from Australian Sport Academy
- Bank deposit day
th
15
- The advertisement displayed in Travel magazine as scheduled. The advertisement
is to promote a Holiday Pack (P001) including a Single tent, an Jacket and a
Thermal pants for only $242, and a Couple Pack (P002) including Double Tent, 2
Sleeping bags, 2 Backpacks for $275. Record relevant adjusting journal entry and
create new inventory profiles, COGS, Sales and Inventory accounts for the Discount
Pack (restocking alert: 10 packs).
17th
- Chris from APT Travel called to order 40 Backpacks and 40 Sleeping bags for their
loyal customer program. The order is to be delivered urgently by the end of the day
and accept to pay urgent delivery fee as needed. Since the shop does not have
enough stock on hand, Jack made urgent orders for the default reorder quantity. The
order from APT Travel was delivered and invoiced on the day. Jack decided to let the
customer bear the express delivery fee charged by Kathmandu, but to give 10%
discount on sale price for large quantity.
19th
- Monday schedule: checks the Stock Alert (To Do List) and order/build stock as
needed. All stock is to be ordered at their current cost price at default reorder
quantity.
th
20
- Ordered stock arrived with bills from supplier (Refer to assumption for delivery time
and charge)
- Cash sales: 8 Holiday Packs, 10 Couple Packs, 10 Double Tents and 10 Jackets, 7
Thermal pants.
21st
- Bank deposit day
- Settle with the ATO for GST collected, GST paid and PAYG withholding of the
quarter ended 30 September 2015, cheque #644
22rd
- Pay TNT Express by cheque #645 and get discount for early payment
- Australian Sport Academy ordered 25 Single tents and 25 Sleeping Bags for an
organised group tour. The stocks was delivered and invoiced at the end of the day.
th
24
- Second payday of the month. All payments made by cheques: Jack - cheque #646,
Mark - cheque #647, Paula - cheque #648
- Received payment from Bankwest via direct transfer
ISYS2126
MYOB Assignment
Semester
Pagestock
10 as
26th
- -Monday
schedule: checks
the Stock3-2015
Alert (To Do List) and order/build
needed. All stock is to be ordered at their current cost price at default reorder
quantity;
- Online sales of 10 Double tents, 6 Backpacks, 9 Helmets and 4 Binoculars.
Payment made via Visa Card (name: Moonie Soong, card number: 4485 3302 4349
634
635
$1,050.0
0
$747.90
7/10/201 Deposit
5
8/10/201
5
$748.00
$883.15
638
$4,091.8
0
$1,325.8
6
Card Processing
- Visa xxxx
10/10/20
15
640
641
642
643
$44,536.85
$43,788.85
$38,813.90
$37,488.04
$778.67
$38,266.71
$1,747.6
0
$1,213.6
0
$742.00
$2,420.0
0
Deposit
$36,519.11
$35,305.51
$34,563.51
$32,143.51
$2,134.4
0
$7,942.4
4
Deposit
644
23/10/20
15
24/10/20
15
$43,777.64
$42,905.70
639
14/10/20
15
22/10/20
15
$42,218.34
$42,727.64
$41,979.74
$2,557.1
1
636
637
31/10/2015
Balance
645
$8,226.9
0
$431.20
$34,277.91
$42,220.35
$33,993.45
$33,562.25
Bankwest,
Direct transfer
646
648
647
$449.70
$34,011.95
$1,835.2
5
$852.00
$1,405.9
0
$32,176.70
$31,324.70
$29,918.80
Page 11
26/10/20
15
31/10/20
15
Harvey World
Travel
$510.08
$30,428.88
$35.00
Account Fee
Service Fee
Interest
$15.00
$88.50
$30,393.88
$30,378.88
$30,467.38
Create a Zip file containing all the PDF reports and MYOB file and submit
via the link named <MYOB Case Study> located in the Assignment section
of the Blackboard.
The submission link would be deactivated by the deadline; hence late submission would
have to submit via email to my email address.
Requirements for Submission of Assessment Tasks
All assessment tasks should be submitted by the due date. Late work is not normally accepted.
Late submissions will be penalised. Work will not be accepted more than 7 days late. If you think
you might have a problem meeting an assignment deadline, raise it with the course coordinator as
soon as possible.
Late submission
All assignments will be marked as if submitted on time, the mark awarded will be reduced by
10% for each day (or part of a day) it is late. Assignments that are late by 7 days or more will not
be marked and will be awarded zero marks. For example if an assignment is worth 10 marks and
you are one day late then you will be penalised 10% of 10 marks which is 1 mark. This one mark
will be subtracted from the assessed mark.
Academic Integrity - University Plagiarism Statement
Plagiarism: the presentation of the work, idea or creation of another person as though it is your
own. It is a form of cheating and is a very serious academic offence that may lead to expulsion
from the University. Plagiarized material can be drawn from, and presented in, written, graphic and
Page 12
visual form, including electronic data, and oral presentations. Plagiarism occurs when the origin of
the material used is not appropriately cited.
Copying or imitating the language, thoughts, ideas or writings of another author (including other
students work) and attempting to pass it off as your own, is plagiarism. Identified plagiarism will
lead to severe mark reduction or failure of the assessment. Severe cases may also be referred to
the Universitys discipline committee. See
http://www.dlsweb.rmit.edu.au/lsu/content/1_StudySkills/study_pdf/referencing_plagiarism.pdf
Advice and activities are available to help you cite and quote your sources correctly, and avoid
plagiarism, see for example
http://www.dlsweb.rmit.edu.au/lsu/content/1_StudySkills/02referencing.htm
Use of plagiarism detection software
All written work will be submitted to the Turnitin text-matching software licensed by RMIT
University. This communication is to inform you that the software Turnitin (see www.turnitin.com),
may be used on assessments in your program. Note DO NOT use the Harvard referencing
system. Also note you must complete and sign a hardcopy of the RMIT coversheet with your
assessment submissions which can be obtained from: http://mams.rmit.edu.au/rbkf8knmzbla1.doc
Special Consideration
You may apply for Special Consideration if you believe that your academic performance has been
severely affected by illness or other serious cause outside your control. This is done by submitting
a Special Consideration form with documentary evidence at the Student Hub no later than 48
hours after the due date or scheduled assessment.. Students will be notified via their student email
account of the outcome of the application, which, if approved, can include alternative assessment
or an extension of time.
The RMIT Special Consideration in Assessment policy is found at
http://mams.rmit.edu.au/vbi4hpp6m8on.pdf. Further advice on Special Consideration can be found
at http://www.rmit.edu.au/students/policies/hecoursework and
http://www.su.rmit.edu.au/rights/specconsid.html.
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