Enter the following transactions into Xero Accounting software using the instructions provided at the end of...
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Enter the following transactions into Xero Accounting software using the instructions provided at the end of this document to guide you. Transactions July 1 July 2 July 4 July 6 July 8 July 12 July 13 July 15 July 16 July 16 July 19 July 20 July 20 July 21 July 23 July 25 July 27 Sold 40 Energy Saving light globes on credit to Unplugged Ltd for $440 (including GST). Received a cheque for $2475 from Developing Naturally as part payment of their account. Sold 2 Smart Meters to The Charity Stores for $350 each plus a $50 delivery fee (all amounts are net of GST) Issued Cheque number 718 to Flooded Industries. The cheque amount was $1752.30 and a discount of $194.7 (including GST of $17.70) was received for early payment. Purchased 200 metres of premium low voltage cabling from Get Connected for $4 per metre, plus a freight charge of $50 and total GST of $85. Received $450 cash (net of GST) from Ms Elvia Marks for a full house inspection and energy usage report. Purchased 500 Energy Saving light globes for $3 each from Get Connected Ltd. The delivery charge was $100. All amounts are net of GST. Their invoice No: 726. Cash Sale of 12 Energy Saving light globes to Ms Christa Heathers for $10 each (net of GST). Paid wages of $1,680 to Minnie's two part time employees Lei Zhee and Ena Jetic. Made a cash purchase of $60 stationery (net of GST) from Little M department store. Purchased 15 LED Lighting Kits for a total of $330 (GST inclusive) from Flooded Industries. Cash Sale to Mr D Rock of 5 LED Lighting Kits for a total of $275 (including GST) Received a cheque from Unplugged Ltd of $1166 being full settlement of their account. Sold 100 meters of premium low voltage cable to Unplugged Ltd for $20 per meter (net of GST) The office supplies account of $186 was paid in full in cash. Minnie Armim withdrew $1,050 cash for personal use. Sold 3 Smart Meters to Hotels United for $350 each plus a delivery fee of $100 (all amounts are net of GST) July 29 July 30 Paid all amounts owing to Reduce, Reuse, Get Rich. Made a cash payment of $921 (including $40 GST) to The Big Telco for the last two months telephone and internet usage. A stocktake on July 31 reveals the inventory on hand consists of 513 Energy Saving Light Globes, 45 LED Lighting Kits and 450 m of Premium Low Voltage Cable and $114 of stationery on hand. Prepaid insurance was paid for 3 months in advance on June 30, 2020. Prepaid rent was paid for 6 months in advance on 1 June, 2020. Depreciation is only calculated at the end of the financial year and so no adjustments are required for these accounts. Enter the following transactions into Xero Accounting software using the instructions provided at the end of this document to guide you. Transactions July 1 July 2 July 4 July 6 July 8 July 12 July 13 July 15 July 16 July 16 July 19 July 20 July 20 July 21 July 23 July 25 July 27 Sold 40 Energy Saving light globes on credit to Unplugged Ltd for $440 (including GST). Received a cheque for $2475 from Developing Naturally as part payment of their account. Sold 2 Smart Meters to The Charity Stores for $350 each plus a $50 delivery fee (all amounts are net of GST) Issued Cheque number 718 to Flooded Industries. The cheque amount was $1752.30 and a discount of $194.7 (including GST of $17.70) was received for early payment. Purchased 200 metres of premium low voltage cabling from Get Connected for $4 per metre, plus a freight charge of $50 and total GST of $85. Received $450 cash (net of GST) from Ms Elvia Marks for a full house inspection and energy usage report. Purchased 500 Energy Saving light globes for $3 each from Get Connected Ltd. The delivery charge was $100. All amounts are net of GST. Their invoice No: 726. Cash Sale of 12 Energy Saving light globes to Ms Christa Heathers for $10 each (net of GST). Paid wages of $1,680 to Minnie's two part time employees Lei Zhee and Ena Jetic. Made a cash purchase of $60 stationery (net of GST) from Little M department store. Purchased 15 LED Lighting Kits for a total of $330 (GST inclusive) from Flooded Industries. Cash Sale to Mr D Rock of 5 LED Lighting Kits for a total of $275 (including GST) Received a cheque from Unplugged Ltd of $1166 being full settlement of their account. Sold 100 meters of premium low voltage cable to Unplugged Ltd for $20 per meter (net of GST) The office supplies account of $186 was paid in full in cash. Minnie Armim withdrew $1,050 cash for personal use. Sold 3 Smart Meters to Hotels United for $350 each plus a delivery fee of $100 (all amounts are net of GST) July 29 July 30 Paid all amounts owing to Reduce, Reuse, Get Rich. Made a cash payment of $921 (including $40 GST) to The Big Telco for the last two months telephone and internet usage. A stocktake on July 31 reveals the inventory on hand consists of 513 Energy Saving Light Globes, 45 LED Lighting Kits and 450 m of Premium Low Voltage Cable and $114 of stationery on hand. Prepaid insurance was paid for 3 months in advance on June 30, 2020. Prepaid rent was paid for 6 months in advance on 1 June, 2020. Depreciation is only calculated at the end of the financial year and so no adjustments are required for these accounts.
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Instructions for Xero Accounting Software 1 Create an account for each transaction In Xero each transaction will require you to create an account You will need to create separate accounts in Xero for ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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