Professional Documents
Culture Documents
(a) Create the following inventory items and sub-items and record the opening inventories (opening
stocks) indicated on 1 January 2016.
(b) Create the following supplier accounts and record the opening balances on 1 January 2016. You
may ignore details such as contacts.
(c) Record the following stocks received through the goods received notes (GRNs)
1
Premio 13
Cameo 22
Carina 3
6 Merc Importers Ltd. E100 6
E200 7
(d) Create the following customer accounts and enter the opening balances on 1 January 2016. You
may ignore details such as contacts
(e) Prepare the following invoices. Note: Prices include 16% VAT
(f) Record the following payments received from customers. Ensure that you link the payments to
specific invoices
a) Trial Balance
b) Customer balance report
c) Supplier balance report
d) Inventory valuation report.