eBook - ePub
Computerised Accounting Practice Set Using Xero Online Accounting
Australian Edition
- English
- ePUB (mobile friendly)
- Available on iOS & Android
eBook - ePub
About this book
This expert level computerised accounting practice set is for students who need to practice exercises of Xero Online Accounting, students can record a month’s transactions of Richmond Papers Pty Ltd and can create financial reports.
It covers the following topics.
- Setting Up a New Accounting System
- Suppliers, Purchases and Inventory
- Customers, Sales and Inventory
- Receipts, Payments and Expenses
- Bank Reconciliation
- Financial Reports
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Yes, you can access Computerised Accounting Practice Set Using Xero Online Accounting by Syed Tirmizi in PDF and/or ePUB format, as well as other popular books in Business & Accounting. We have over one million books available in our catalogue for you to explore.
Information
Part A
Practice Set
Instructions
You have recently been appointed as an Accounts Assistant at Richmond Papers Pty Ltd, a new business dealing in printing and publishing. Your responsibilities are to set up a computerised accounting system, update the company records and produce financial reports.
The company started trading on 1st April 2016. All documents have been checked for accuracy and owner of the business, John Smith has authorised these documents.
The company uses straight line method for depreciating its non-current assets at 10% yearly. The policy defines the decline in value of these non-current assets on monthly basis.
You are required to complete the following tasks for April 2016 in the order given.
a)Setting Up a New Accounting System
b)Suppliers, Purchases and Inventory
c)Customers, Sales and Inventory
d)Receipts, Payments and Expenses
e)Bank Reconciliation
f)Financial Reports
a) Setting Up a New Accounting System
Create a new company in Xero Online Accounting using the following information.
| Company Name | Richmond Papers Pty Ltd |
| ABN | 46 995 263 632 |
| Address | 23 High Street |
| Richmond | |
| VIC 3121 | |
| Phone Number | 03 9988 7766 |
| Current Financial Year | Jul 2015 – Jun 2016 |
Set up Suppliers, Customers and Inventory with the help of Tables 1, 2 and 3.
Additional Information
| i. | On April 1st 2016, $25,000 Capital was introduced by the owner of the business and was paid into the Ban... |
Table of contents
- Cover
- Copyright Page
- Contents
- Part A: Practice Set
- Part B: Solutions