LEVEL BASIC (MYOB Accounting v22)

  MYOB Qualification Test LEVEL BASIC (MYOB Accounting v22)

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Phone number : ______________________________________________ Email : ______________________________________________

  Comment: ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________

  Code:L1R2AG16 Effective from 21 Apr 2016

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The Case Study

  Based the fact given, you are required to: 1.

  [8 marks]

  Setup the Company data file : 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 2.

  [10 marks]

Setup the List below:

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%

  

PT. NET21PLUS

Menara KADIN Indonesia, Lt. 30, Jl. H.R. Rasuna Said, X-5, Kav. 2-3, Jakarta 12950. Indonesia.

  

Tel. : 021-5289 1988| Fax. : 021-5299 4599

  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

  Joglo & Gazebo Planter Craft Prada Paint

Item Name

  5-1000 Purchases 5-1000 Purchases 5-1000 Purchases

  I Buy This Item

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

  1-2300 Merchandise 1-2300 Merchandise 1-2300 Merchandise

I Inventory This

  Inventory Inventory Inventory

Item Tax Code When

  N-T N-T N-T

Bought/Sold Selling Unit of

  Unit Unit Unit

Measure

  Rp 3,000,000 Rp 300,000 Rp 1,500,000

Selling Price

  

PT. NET21PLUS

Menara KADIN Indonesia, Lt. 30, Jl. H.R. Rasuna Said, X-5, Kav. 2-3, Jakarta 12950. Indonesia.

  

Tel. : 021-5289 1988| Fax. : 021-5299 4599

  PT. NET21PLUS Menara KADIN Indonesia, Lt. 30, Jl. H.R. Rasuna Said, X-5, Kav. 2-3, Jakarta 12950. Indonesia.

  Tel. : 021-5289 1988| Fax. : 021-5299 4599 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

  Category YGK

  PT. NET21PLUS Menara KADIN Indonesia, Lt. 30, Jl. H.R. Rasuna Said, X-5, Kav. 2-3, Jakarta 12950. Indonesia.

  [Salesperson : RIFY] [Category : CLP] POINT [4 marks]

  Return 5 units of Planter Craft (PC) for Rp 100,000.-/unit (Exclude 10% VAT) to CRAFT INDIE (PO#: P-160003, Supplier Inv#: CI-160001) (Job: P). Edit Journal Memo with "Purchase Return; CRAFT INDIE". [Category : YGK]

  Immediatelly applied the

   Return-Debit note to Trade Creditor balance for CRAFT INDIE [ID#: P-160003] for bill on 02 Jan 2016.

  POINT [4 marks] [4 marks]

  12 Jan 2016

  Sold the following items to CITY ART on Net 30 th after EOM credit terms (Inv#: S- 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]  Ship 40 unit of Planter Craft (PC) @Rp330,000.- (Include 10% VAT) [Job : P]  Ship 7 unit of Prada Paint (PP) @Rp1,650,000.- (Include 10% VAT) [Job: P]

  15 Jan 2016

  POINT [4 marks] [4 marks]

  Raised

  sale services to PARK WEST for Freight Collected (Acc#: 4-2000) for Rp 1,100,000.- (Include 10% VAT) on COD term (Inv#: S-160002, Cust PO#: PW- 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 [4 marks] [4 marks]

  22 Jan 2016

  Issued

  with

  

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

POINT [4 marks]

  10 Jan 2016

  amount Rp 2,200,000.- for bill on 07 Jan 2016.

  Tel. : 021-5289 1988| Fax. : 021-5299 4599

  02 Jan 2016

  Setup the following inventory opening balance as 01 January 2016

  [Journal#: I-160001] [Category: YGK]:

  Item No. Item Name Qty Unit Cost Account# JG Joglo & Gazebo

  25 Unit Rp 2,000,000 1-2300 PC Planter Craft

  60 Unit Rp 100,000 1-2300 PP Prada Paint

  30 Unit Rp 1,000,000 1-2300 4.

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

  A purchase was raised to purchase the following inventory item from main supplier,

  ROYAL ART from Cheque Account [Cheque#: D-160001] with total

  CRAFT INDIE, with Net 30 th 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 10% VAT).  Received 10 unit of Prada Paint (PP) for Rp 1,000,000.-/unit (Job: P) (Exclude

  10% VAT). [Category : YGK] POINT

  [4 marks]

  07 Jan 2016

  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

Discount-Credit Notes to PARK WEST Rp 100,000.- as Discount Given (Acc#: 5-3000) (Inv#: S-160003, Cust PO#: PW-160001) and edit Journal Memo

  Immediately

  [4 marks] Pay Refund [Cheque#: D- 160002] for the Rp 100,000.- Discount- Credit Notes to PARK WEST from Petty Cash.

  POINT

  26 Use

  

Spend Money, payment Rp 3,000,000.- from Cheque Account (Acc#:1-2110)

[4 marks]

  Jan for

Wages & Salaries Expense January 2016 as Wages & Salaries (Acc#:6-5130).

2016

  [Cheque#: D-160003] [Category: YGK] POINT

  [4 marks]

  Jan

Interest Income (Acc#: 8-1000) with Rp30,000.- Bank Charges (Acc#:6-1200)

  2016

  [ID#: R-160002] [Category: YGK]

  5. Perform

  [4 marks] Bank Reconciliation for Cheque Account the Bank Statement shows a balance Rp 196,200,000.- on 31 Jan 2016.

  6. Prepare

  [4 marks] journal entry to record the depreciation on 31 Jan 2016, for the

  following asset categories

  

[GJ#:G-160001] [Category : YGK] :

   Store Equip Rp 200,000.-

  [4 marks]

  Prepare a

  journal entry to record the VAT Clearing journal on 31 Jan 2016 [GJ#:G-160002] for Dec 2015. [Category : YGK] 7.

  [4 marks] On 31 Jan 2016, prepare adjust inventory to record Inventory Found [IJ#:I- 160002] [Category : YGK] for:

   10 units of Planter Craft (PC) @Rp100,000.- [Job: P] as 5-1000 Purchase

  8. Generate the following financial reports at 1 January [8 marks]

  • – 31 January 2016 to PDF file format, save in REPORTS folder :

   Account Transaction [Accrual] General Ledger [Summary] Standard Balance Sheet Profit & Loss [Accrual] Bank Register Reconciliation Report Cash Disbursements Journal Cash Receipts Journal

  ~End of Assignment~ PT. NET21PLUS Menara KADIN Indonesia, Lt. 30, Jl. H.R. Rasuna Said, X-5, Kav. 2-3, Jakarta 12950. Indonesia.

  Tel. : 021-5289 1988| Fax. : 021-5299 4599