Maintain financial records (BSBCMN308A)
To gain competency in this unit you are required to maintain financial records for a
business, including the maintenance of daily financial records, reconciliation of
debtors' and creditors' systems as well as the maintenance of the general ledger and
the preparation of a trial balance. You also need practice in the monitoring of cash for
accounting purposes.
The following exercises are designed to enable practice in the following:
Maintenance of daily financial records - Daily financial records are maintained
correctly and in accordance with organisational requirements for accounting purposes.
Any discrepancies or errors in documentation or transactions are identified and
rectified, and credit and debit transactions are accurately and promptly entered.
Maintenance of the general ledger – The general ledger is maintained. Transactions
are posted into the general ledger, with both debtors' and creditors' systems being
reconciled with general ledger. A trial balance is accurately prepared from general
ledger.
Monitoring of cash control - The cash flow is accurately accounted for. All
payments are made and received. Any outstanding accounts are collected or
followed, and all payment documentation is checked for accuracy of information and
dispatched to creditors.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 1
Exercise 1: Red Back Spider Sales
Adam Baxter is the proprietor of the trading business called “Red Back Spider
Sales” which is located, in a little shopping centre, at 123 Civic Road, Apollo
Parklands 3095
Adam purchases the spiders (a magic little computer device) in bulk and resells to the
public to assist people with their “web pages”. Adam has developed this profitable
business over a number of years. He has found that maintaining an accrual doubleentry accounting system using “QuickBooks” is the easiest and most effective method
of obtaining relevant financial information.
Open the QuickBooks Software. QuickBooks is a fully integrated small business
accounting package.
To open this company double -click on the QuickBooks icon
The QuickBooks Navigator will appear for the company titled “Red Back Spider
Sales”
If the this company does not appear you will need to select - File – Open
company
Click on Red Back Spider Sales”
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 2
Task 1: Process these February 2010 transactions into
appropriate ledgers.
RECEIPTS FROM CUSTOMERS:
A RECEIPT provides proof that payment was received.
Mr/Mrs/Ms:
Company: Emma’s Exotic Designs
Address:
545 Apollo Parklands Rd
City & State: Apollo Parklands
Phone: (Res)
DATE: Feb 1
Post Code: 3095
Phone (Bus)
INVOICED AMOUNT: ____________ $
100.00
RED BACK
SPIDER SALES
LESS DISCOUNT: ________________ $
0.00
THANKYOU
$100.00
RECEIVED FROM CUSTOMER
CASH
CHEQUE
VISA/MC/AM EX



Receipt NO: 1
Deposited By:
This source document is processed by clicking on Receive Payments from the
Customers Tag from the Home screen.
In the customer job field use the pull down list and select Emma’s Exotic Designs.
Tab to the amount field and key in 100. The payment method is by Cheque.
Click on the deposit to section and select Apollo Parklands Credit Union from the
drop down menu.
Then Click on Save & Close.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 3
CASH SALES
Red Back Spider Sales
Daily Cash Sales
Date:
Total Quantity
Sold
Total Cash
Collected
Banked
February 2
50
$192.50
February 2
Select the Home screen. Then click on Create Sales Receipts. (You do not any
assistance with the form layout)
In the customer job section click on Add New. Key in Cash Sales. Then click on
OK. The date is Feb 2.
In the Sold To section key in Cash Sales. Use the down arrow to get to the Item
section. Select “Red Back Spiders” using the drop-down arrow.
Tab across twice to the QTY field and key in 50. The total should be $175.00, plus
GST of $17.50.
Now click on the dot labelled “Deposit To:” and the Apollo Parklands Credit Union
should appear. (This has the effect of depositing the money into the bank account.)
Then click on Save & Close.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 4
PAYMENTS BY CHEQUE:
NICK’S ADVERTISING
111 CIVIC RD APOLLO PARKLANDS 3095
FEB 3
QTY
DESCRIPTION OF ADVERTISING
2 SMALL
RATE
AMOUNT
25.00
$50.00
GST
$5.00
Advertising shop opening
and location
Paid cheque 12000
Total
$55.00
THE WIDEST READERSHIP IN THE WHOLE OF TOWN
To process the following cheque, click on Home screen, and then Write Cheques
and enter the appropriate details.
Untick the “To be printed” box in the top right hand corner of the cheque and then
key in the cheque number 12000.
Key in Nick’s Advertising and press TAB to Quick Add, Other for the details of the
payee. Then click on OK.
Key in 55.00 in the amount area.
In the Account section at the bottom select Accrued Advertising from the pull down
menu. Then press the TAB key and key in NCG as the tax code.
Then click on Save & Close.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 5
PURCHASES OF STOCK ON CREDIT:
To process this transaction you need to establish a list of suppliers. From the Home
screen select Receive Inventory – Receive Inventory with Bill.
Use the scroll arrow to select Jason’s Spider Supplies.
Click in the ITEM SECTION and use the black arrow to select Red Back Spiders.
TAB across and key in 150 in QTY. TAB across and 150 should appear in
AMOUNT.
Jason’s Spider Supplies
Deluxe Industrial Web Parts
4567 SMITH ST COLLINGWOOD
DATE: Feb 4
INVOICE NUMBER: 3454
SUPPLIED TO: Red Back Spider Sales
Civic Road
Apollo Parklands 3095
ITEM NO
DETAILS
O124
Red Back Spiders 150 units
ITEM
COST
$1.00
COST
$150 00
GST
15 00
Total
$165 00
Satisfaction Guaranteed
Click on Save & Close
DRAWINGS OF STOCK BY THE OWNER:
On February 5 the owner withdrew one spider for his own use.
Select Adjust Qty on Hand from the Home screen.
In the adjustment account section key in Drawings. Press the Tab key to set it up
as an equity account. Then click on OK. A message about an income or expense
account is expected. Just click on OK.
In the new Qty column key in 399. Press the Tab key and -1 should appear in the
difference column. Then click on Save & Close.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 6
THE PURCHASE OF A NON-CURRENT ASSET:
N LAND INDUSTRIES
1 CIVIC RD APOLLO PARKLANDS 3095
FEB 6
QTY
DESCRIPTION OF GOODS
RATE
AMOUNT
10
storage containers
4.50
$ 45.00
GST
$4.50
$49.50
Total
SERVICE GUARANTEED AT ALL TIMES
To process this document you need to complete a General Journal entry.
Select Company Menu – (at the top of the screen). Scroll down and select Make
Journal Entries.
Select Storage Containers using the scroll arrow. Key in 45.00 into the debit
column. CAG is the tax code.
Tab to the second line in the Account column and key in N Land Industries. (Other
Current Liability) Tab to ensure 49.50 is in the credit column. Then click on Save
& Close.
Do you remember how to record a cash receipt from a customer?
Mr/Mrs/Ms:
Company: Susie’s Computers
Address:
45 Apollo Parklands Rd
City & State: Apollo Parklands
Phone: (Res)
DATE: Feb 7
Post Code: 3095
Phone (Bus)
INVOICED AMOUNT: ____________ $
100.00
RED BACK
SPIDER SALES
LESS DISCOUNT: ________________ $
0.00
THANKYOU
$100.00
RECEIVED FROM CUSTOMER
CASH
CHEQUE
VISA/MC/AM EX



Receipt NO: 2
Deposited By:
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 7
Red Back Spider Sales
Daily Cash Sales
February 8
Date:
Total Quantity
Sold
Total Cash
Collected
Banked
60
$231.00
February 8
ADDITIONAL CAPITAL BY THE OWNER:
On February 9 the owner contributed a further $350 to the business.
This requires another General Journal entry with the Apollo Parklands Credit
Union as the debit entry (NCF is the tax code for both entries) and Opening Bal
Equity as the credit entry.
PAYMENT OF SUPPLIERS:
Cheque No: 12001
DATE: Feb 10
Balance b/d
To: Jason’s Spider
Supplies
Amount: $150
For: 150 units
Balance c/f
Select Home screen, followed by Pay Bills.
The payment method is cheque. Ensure that the green dot is in the assign cheques
number section.
When you click next to Jason’s Spider Supplies you will place a tick against the
name. The amount is $150.00.
Click on Pay selected Bills. Ensure that the green dot is next to “Automatically
assign a cheques number……”
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 8
Mr/Mrs/Ms:
Company: Emma’s Exotic Designs
Address:
545 Apollo Parklands Rd
City & State: Apollo Parklands
Phone: (Res)
DATE: Feb 11
Post Code: 3095
Phone (Bus)
INVOICED AMOUNT: ____________ $
50.00
RED BACK
SPIDER SALES
LESS DISCOUNT: ________________ $
0.00
THANKYOU
RECEIVED FROM CUSTOMER
CASH
CHEQUE
VISA/MC/AM EX
$50.00
Receipt NO: 3



Deposited By:
Cheque No: 12002
DATE: Feb 12
Balance b/d
To: Telstra
Amount: $49.50
Balance c/f
For: telephone
rental – NCG tax
code
Cheque No: 12003
DATE: Feb 13
Balance b/d
To: Bradley’s
Products
Amount: $100.00
Balance c/f
For: supply of
spiders
(Don’t forget that this cheque is paid via the Pay Bills area of the Suppliers section
on the Home screen).
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 9
Red Back Spider Sales
Daily Cash Sales
February 14
Date:
Total Quantity
Sold
Total Cash
Collected
Banked
100
$385.00
February 14
Cheque No: 12004
DATE: Feb 15
Balance b/d
To: Adam’s
window cleaning
services
Amount: $22.00
For: front window
cleaning – NCG
tax code
Balance c/f
Mr/Mrs/Ms:
Company: Rita’s New Designs
Address:
545 Civic Rd
City & State: Apollo Parklands
Phone: (Res)
DATE: Feb 16
Post Code: 3095
Phone (Bus)
INVOICED AMOUNT: ____________ $
75.00
RED BACK
SPIDER SALES
LESS DISCOUNT: ________________ $
0.00
THANKYOU
RECEIVED FROM CUSTOMER
CASH
CHEQUE
VISA/MC/AM EX
$75.00
Receipt NO: 4



Deposited By:
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 10
CREDIT SALES:
RED BACK SPIDER SALES
the magic web device
Civic Road ELTHAM NORTH 3095 TELEPHONE 943867676
SUPPLIED TO: Susie’s Computer
45 Civic Road
Apollo Parklands 3095
INVOICE NO:
STH0001
DATE: February 17
ITEM
Red Back
spiders
DETAILS
UNITS
TOTAL
35
GST
$122.50
12.25
Total
$134.75
spider web devises
TERMS: 10/7 NET 30
To process this document from select the Home Screen.
Then select Invoices. Use the pull down arrow to select Susie’s Computers in the
Customer Job section. Then fill in the relevant sales information. Ensure that the tax
code is GST. Then click on Save & New
RED BACK SPIDER SALES
the magic web device
Civic Road ELTHAM NORTH 3095 TELEPHONE 943867676
SUPPLIED TO: Natasha’s Web Pages
666 Apollo Parklands Drive
Apollo Parklands 3095
INVOICE NO:
STH0002
DATE: February 18
ITEM
Red Back
spiders
DETAILS
spider web devises
TERMS: 10/7 NET 30
UNITS
TOTAL
50
$175.00
GST
$17.50
Total
$192.50
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 11
Red Back Spider Sales
Daily Cash Sales
February 19
Date:
Total Quantity
Sold
Total Cash
Collected
26
$100.10
Banked
February 19
Cheque No: 12005
DATE: Feb 20
Balance b/d
To: Adam’s
Specialty Motors
Amount: $66.00
For: petrol
Balance c/f
Red Back Spider Sales
Daily Cash Sales
Date:
Total Quantity
Sold
Total Cash
Collected
Banked
February 21
50
$192.50
February 21
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 12
OFFICE SUPPLIES
SPECIALITIES
999 BOURKE ST ELTHAM 3095
ORDER NO:
DATE: FEBRUARY 22
DEPT
SOLD BY George
SALES
NO:
Model No:
DESCRIPTION OF GOODS
DELIVERY:
SSS Taxi Trucks
QTY
RATE
Model 57
Office stationery
1
$100.00
TERMS: NET CASH WITHIN 30
GST
$10.00
DAYS
Paid chq 12006 $110.00
Apollo Parklands Office
Supplies
222 Civic Road
Apollo Parklands 3095
Telephone 94387777
Item supplied to: Red Back Spider Sales
123 Civic Road
Apollo Parklands 3095
QUANTITY
DESCRIPTION
1
Cash Register style Y67
INVOICE
INVOICE NO: 2223
DATE: Feb 23
UNIT PRICE
AMOUNT
$450.00
$450.00
Subtotal
GST
Shipping & Handling
45.00
TOTAL DUE
$495.00
THANKYOU FOR YOUR BUSINESS
Make all cheques payable to: Shop Fittings Pty Ltd
If you have any queries concerning this invoice, call Troy Taylor 94387777
To process this source document the two accounts will be cash register (fixed asset)
as the debit entry and Apollo Parklands Office Supplies (OTHER CURRENT
LIABILITY) as the credit entry.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 13
Cheque No: 12007
DATE: Feb 24
Balance b/d
To: United
Energy
Amount: $38.50
For: Electricity
Balance c/f
121 Bourke Rd
Balwyn
BRADLEY’S
PRODUCTS
Manufactures of Web Units
ITEM NO
SUPPLIED TO:
Red Back Spider Sales
Civic Rd
Apollo Parklands 3095
DETAILS
O123
Red Back Spider Units
DATE: Feb 25
INVOICE NO: AB12112
QUANTITY
PRICE
450 units
GST
TOTAL
$450.00
$45.00
$495.00
PLEASE NOTE: NET 30 DAYS
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 14
APOLLO PARKLANDS NEWS
PTY LTD
101 Plenty Rd
Apollo Parklands
ITEM NO
SUPPLIED TO:
Red Back Spider Supplies
Civic Rd
Apollo Parklands 3095
DETAILS
weekly add
DATE:
February 26
INVOICE NO: RD7975
QUANTITY
PRICE
1/4 page add weekly
22 weeks
$60.00
Cheque No: 12008
GST
$6.00
Total
$66.00
PLEASE NOTE: NET 30 DAYS
Cheque No: 12009
DATE: Feb 27
Balance b/d
To: Cash
Amount: $200.00
For: drawings
Balance c/f
Red Back Spider Sales
Daily Cash Sales
Date:
Total Quantity
Sold
Total Cash
Collected
Banked
February 28
150
$577.50
February 28
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 15
RED BACK SPIDER SALES
the magic web device
Civic Road ELTHAM NORTH 3095 TELEPHONE 943867676
SUPPLIED TO: Emma’s Exotic Designs
545 Civic Road
Apollo Parklands 3095
INVOICE NO:
STH0003
DATE: February 28
ITEM
Red Back
spiders
DETAILS
spider web devises
UNITS
TOTAL
55
GST
$192.50
$19.25
Total
$211.75
TERMS: 10/7 NET 30
RED BACK SPIDER SALES
the magic web device
Civic Road ELTHAM NORTH 3095 TELEPHONE 943867676
SUPPLIED TO: Rita’s New Designs
545 Civic Road
Apollo Parklands 3095
INVOICE NO:
STH0004
DATE: February 28
ITEM
Red Back
spiders
DETAILS
UNITS
TOTAL
spider web devises
100
$350.00
TERMS: 10/7 NET 30
GST
$35.00
Total
$385.00
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 16
Task 2: Record the February 28 balance-day adjustments
into the appropriate ledgers.
PREPAID REVENUE
From the Company menu (top of the screen) select Make General Journal
Entries.
Select Accounts Receivable from the Chart of Accounts.
Key in 50
In the name column select Rita’s New Designs from the drop down menu.
Click on the second line and key in Prepaid Revenue.
Press TAB and set up this account as an Other Current Liability.
Click on Save & New
ACCRUED EXPENSES
Add Council Rates Expense to the Chart of Accounts.
Key in 100
Click on the second line and key in Accrued Council Rates.
Press TAB and set up this account as an Other Current Liability.
Click on Next.
Add Roof Repair Expense to the Chart of Accounts.
Key in 350
Click on the second line and key in Accrued Roof Repair Expense.
Click on Next.
PREPAID EXPENSES
Add Prepaid Advertising to the Chart of Accounts (Other Current assets).
Press TAB and key in 30
Click on the second line and use the pull down lists to select the Advertising
Account.
Click on Save & Close.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 17
STOCK ADJUSTMENTS:
The stock take at February 28 showed that there are only 220 units on hand.
From Reports Centre select Inventory, Inventory Stock Status by Item to see the
stock figures in your records. Close the screen.
From the Home screen select Adjust Qty on Hand.
In the field Adjustment Account, key in Stock Loss. Tab
Use Set Up to establish this account as a Cost of Goods Sold Account.
In the field New Quantity enter the new numbers for the stock. The adjusted
numbers on hand will appear in the Quantity Difference column.
Click on Save & Close.
Task 3: Reports & Graphs
A: Prepare a Trial Balance as at February 28
From the Reports Centre select Accountant & Taxes - Trial Balance.
Key in the dates of 1/2/2010 and 28/2/2010 and click on Display.
Click on the Print button to receive a hard copy. Close the screen.
B: Prepare a cash flow statement for the month of February.
From the Reports Centre select Company & Financial. Scroll down to select
Statement of Cash Flows.
Key in the dates of 1/2/2010 and 28/2/2010 and click on Display.
Click on the Print button to receive a hard copy. Close the screen.
C: Prepare a Statement of Performance (P & L) for the month of February
From the Reports Centre select Company & Financial - Profit & Loss - standard.
Key in the dates of 1/2/2010 and 28/2/2010 and click on Display.
[To learn how to change the title on this statement see the notes contained on this
education CD – How Do I section]
Click on the Print button to receive a hard copy. Close the screen.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 18
D: Prepare a Statement of Position (Balance Sheet) as at February 28
From the Reports Centre select Company & Financial - Balance Sheet & Net
Worth - standard.
Key in the dates of 1/2/2010 and 28/2/2010 and click on Display.
[To learn how to change the title on this statement see the notes contained on this
education CD – How Do I section]
Click on the Print button to receive a hard copy. Close the screen.
E: Print a graph of the Income & Expenses for February.
From the Reports Centre select Company & Financial.
Scroll down to select Income & Expense graph.
Key in the dates of 1/2/2010 and 28/2/2010 and click on Display.
Then select income & expense.
(Nicely coloured graphs instantly appear).
Click on the Print button to receive a hard copy. Close the screen.
F: Print a schedule for debtors and creditors as at February 28.
From the Reports Centre select Customers & Receivables - A/R-Aging Summary.
Key in the dates of 1/2/2010 and 28/2/2010 and click on Display.
Click on the Print button to receive a hard copy. Close the screen.
From the Reports Centre select Suppliers & Payables - A/P-Aging - Summary.
Key in the dates of 1/2/2010 and 28/2/2010 and click on Display.
Click on the Print button to receive a hard copy. Close the screen.
G: Print out the bank register.
From the Home Screen select the Cheque Register icon.
Click on the Print button to receive a hard copy. Close the screen.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 19
Exercise 2: Stue’s Sticks
Stue is the proprietor of the trading business called “Stue’s Sticks” which is located, at
the Apollo Parklands Sports Club, at 123 Civic Road, Apollo Parklands, 3095
Stue purchases the sticks in bulk, (costing $10 each (plus GST) & selling for $35
each (plus GST)), amongst other pieces of sporting equipment, and resells to the
public.
Open Stue’s Sticks data file.
The Statement of Position as at May 1, 2010 included:
$
$
ASSETS
Current assets
Cash at bank
Petty Cash
Debtors
Stock
EQUITIES
Current Liabilities
1200
200
500
300
Creditors
Apollo Parklands
Finance Co – Loan
300
200
Non-current liabilities
Non-current assets
Loan – Apollo
Parklands Credit Union
Delivery van
Office furniture &
equipment
Refrigerator
Shelving
4500
2000
250
1000
Owner’s Equity
Capital – Stue
7450
TOTAL ASSETS
9950
TOTAL EQUITIES
9950
The Item details as at May 1 were as follows:
Number on hand:
30
Stick Purchase Price: $10.00 plus GST
Stick Selling Price: $35.00 plus GST
Debtors as at April 30 included:
Aaron’s Sports Shop
Nicole’s Mega Mart
Apollo Parklands Hockey Club
Aiden’s Sports Group
Creditors as at April 30 included:
125
150
75
150
Andrew’s Big Sticks
Maree’s Sticks
150
150
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 20
2000
Task 1:
Entering the accounts into the chart of accounts
A quick scan of the transactions indicates that the following accounts will need to be
added to the chart of accounts:
Expenses:
Advertising,
Office expenses,
Window cleaning,
Telephone,
Morning teas,
Petrol,
Office stationery,
Electricity,
Dep of van,
Dep of refrigerator,
Dep of office furniture,
Dep of shelving,
Wages,
Fixed Asset:
Cash register,
Acc dep of van,
Acc dep of refrigerator,
Acc dep of office furniture,
Acc dep of shelving,
Other Current Liability:
Accrued wages.
Equity:
Drawings,
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 21
Task 2: Enter the following transactions:
During May, Stue undertook the following transactions:
Andrew’s Big Sticks
4567 CIVIC RD
APOLLO PARKLANDS 3095
DATE: MAY 1
TAX INVOICE NUMBER: 3454
SUPPLIED TO: STUE’S STICKS
123 Civic Road
APOLLO PARKLANDS 3095
ITEM NO
DETAILS
ITEM
COST
STICKS
Sticks 150 units
$10.00
COST
$1500 00
GST
150 00
Total
1650 00
Satisfaction Guaranteed
*
On May 2nd Stue withdrew one stick for his own use.
Mr/Mrs/Ms:
Company: Aaron’s Sports Shop
Address:
545 Apollo Parklands Rd
City & State: Apollo Parklands
Phone: (Res)
DATE: May 3
Post Code: 3095
Phone (Bus)
INVOICED AMOUNT: ____________ $
100.00
LESS DISCOUNT: ________________ $
0.00
STUE’S
STICKS
THANKYOU
RECEIVED FROM CUSTOMER
$100.00
CASH

CHEQUE
VISA/MC/AM EX


Receipt NO: 1
Deposited By:
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 22
Mr/Mrs/Ms:
Company: Aiden’s Sports Group
Address:
12 Apollo Parklands Rd
City & State: Eltham North
Phone: (Res)
DATE: May 4
Post Code: 3095
Phone (Bus)
INVOICED AMOUNT: ____________ $
100.00
STUE’S
STICKS
LESS DISCOUNT: ________________ $
0.00
THANKYOU
RECEIVED FROM CUSTOMER
$100.00
CASH

CHEQUE
VISA/MC/AM EX

Deposited By:

Mr/Mrs/Ms: various customers - 50 sticks
Company:
Address:
City & State:
Phone: (Res)
Racquets ___________________________
Sticks _____________________________
Wickets ____________________________
Balls ______________________________
GST_______________________________
RECEIVED FROM CLIENT
Receipt NO: 2
DATE: May 5
Post Code: 3095
Phone (Bus)
1750.00
175.00
$1925.00
CASH

CHEQUE
VISA/MC/AM EX


STUE’S
STICKS
THANKYOU
Cash Fees Receipt
NO: 1
Deposited By:
Cheque No: 12000
DATE: May 6
Balance b/d
To: Andrew’s Big
Sticks
For: July’s
deliveries
Amount: $150.00
Balance c/f
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 23
Cheque No: 12001
DATE: May 7
Balance b/d
To: Susie’s
Advertising
Amount: $50.00
+gst
Balance c/f
Mr/Mrs/Ms: various customers - 60 Sticks
Company:
Address:
City & State:
Phone: (Res)
Racquets ___________________________
Sticks _____________________________
Wickets ____________________________
Balls ______________________________
GST_______________________________
RECEIVED FROM CLIENT
For: May
promotions
DATE: May 8
Post Code: 3095
Phone (Bus)
STUE’S
STICKS
2100.00
THANKYOU
210.00
$2310.00
CASH

CHEQUE
VISA/MC/AM EX


Cash Fees Receipt
NO: 2
Deposited By:
STUE’S STICKS
Sporting equipment to suit all purposes
Civic Road APOLLO PARKLANDS 3095 TELEPHONE 943867676
SUPPLIED TO: Nicole’s Mega Mart
34 Smiths Rd
Eltham North 3095
TAX INVOICE NO:
STH1
DATE: May 9
ITEM
Sticks
DETAILS
Hockey Sticks
TERMS: 10/7 NET 30
UNITS
35
TOTAL
$1225.00
GST
$122.50
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 24
PETTY CASH VOUCHER
DEBIT: Office Expenses
Particulars: light globes
No: 1
+ gst
Amount: $3.00
Signed:
Date: May 10
Cheque No: 12002
DATE: May 11
Balance b/d
Amount: $20.00
+gst
Balance c/f
To: Shop
Window Cleaning
Cheque No: 12003
DATE: May 12
Balance b/d
To: Optus
Telephone
For: May cleaning
Amount: $45.00
+gst
Balance c/f
For: July’s phone
calls
Cheque No: 12004
DATE: May 13
Balance b/d
To: Maree’s Sticks
Amount: $150.00
For: July’s
deliveries
Balance c/f
PETTY CASH VOUCHER
DEBIT: Office Expenses
Particulars: tea, sugar, biscuits
No: 2
+ gst
Date: May 14
Amount: $10.00
Signed:
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 25
Mr/Mrs/Ms:
Company: Nicole’s Mega Mart
Address:
34 Smiths Rd
City & State: Eltham North
Phone: (Res)
DATE: May 15
Post Code: 3095
Phone (Bus)
INVOICED AMOUNT: ____________ $
50.00
LESS DISCOUNT: ________________ $
0.00
STUE’S
STICKS
THANKYOU
RECEIVED FROM CUSTOMER
$50.00
CASH

CHEQUE
VISA/MC/AM EX


Mr/Mrs/Ms:
Company: Apollo Parklands Hockey Club
Address:
P.O. Box 147
City & State: Apollo Parklands
Phone: (Res)
Receipt NO: 3
Deposited By:
DATE: May 16
Post Code: 3095
Phone (Bus)
INVOICED AMOUNT: ____________ $
75.00
LESS DISCOUNT: ________________ $
0.00
STUE’S
STICKS
THANKYOU
RECEIVED FROM CUSTOMER
$75.00
CASH

CHEQUE
VISA/MC/AM EX


Receipt NO: 4
Deposited By:
ADDITIONAL CAPITAL CONTRIBUTIONS:
On May 17, Stue contributed a further $300 to the business.
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 26
Maree’s Sticks
CIVIC ROAD APOLLO PARKLANDS 3095
TELEPHONE: 94245459
TAX INVOICE NUMBER: 55
DATE: MAY 18
ORDER NO:
ABN NO:
ITEM No:
DESCRIPTION OF GOODS
QTY
27P
HOCKEY STICKS
450
RATE
GST
10%
TAXABLE
$4500
00
$450
00
TERMS: NET 30 DAYS
Mr/Mrs/Ms: various customers - 25 Sticks
Company:
Address:
City & State:
Phone: (Res)
Racquets ___________________________
Sticks _____________________________
Wickets ____________________________
Balls ______________________________
GST_______________________________
RECEIVED FROM CLIENT
DATE: May 19
Post Code: 3095
Phone (Bus)
STUE’S
STICKS
875.00
THANKYOU
87.50
$962.50
CASH

CHEQUE
VISA/MC/AM EX


Cash Fees Receipt
NO: 3
Deposited By:
Cheque No: 12005
DATE: May 20
Balance b/d
To: BP Apollo
Parklands
Amount: $60.00
+gst
Balance c/f
For: Petrol
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 27
Mr/Mrs/Ms: various customers - 50 sticks
Company:
Address:
City & State:
Phone: (Res)
Racquets ___________________________
Sticks _____________________________
Wickets ____________________________
Balls ______________________________
GST_______________________________
DATE: May 21
Post Code: 3095
Phone (Bus)
STUE’S
STICKS
1750.00
THANKYOU
175.00
$1925.00
RECEIVED FROM CLIENT
CASH

CHEQUE
VISA/MC/AM EX


Cash Fees Receipt
NO: 4
Deposited By:
Cheque No: 12006
DATE: May 22
Balance b/d
Amount: $100.00
+gst
Balance c/f
To: Apollo
Parklands
Printing
For: office
stationary
Apollo Parklands OFFICE SUPPLIES
ANZAC ROAD, ELTHAM NORTH 3095
TELEPHONE: 94221119
TAX INVOICE NUMBER: 6755
DATE: MAY 23
DEPT
ORDER NO:
SOLD BY: GH
ABN NO:
DELIVERY: SUPPLIED
ITEM No:
DESCRIPTION OF GOODS
QTY
34X
Cash Register
1
RATE
TAXABLE
$450
+GST $45
10%
00
00
TERMS: NET 7 DAYS
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 28
Cheque No: 12007
DATE: May 24
Balance b/d
Amount: $50.00
+gst
Balance c/f
To: Eastern
Energy
For: April’s
electricity
STUE’S STICKS
Sporting equipment to suit all purposes
Civic Road APOLLO PARKLANDS 3095 TELEPHONE 943867676
SUPPLIED TO: Aaron’s Sports Shop
545 Apollo Parklands Road
Apollo Parklands 3095
TAX INVOICE NO:
STH2
DATE: May 25
ITEM
Sticks
DETAILS
Hockey Sticks
TERMS: 10/7 NET 30
UNITS
50
TOTAL
$1750
GST
$175
Cheque No: 12008
DATE: May 26
Balance b/d
To: Apollo
Parklands News
Amount: $80.00
+gst
Balance c/f
For: May
advertising
Cheque No: 12009
DATE: May 27
Balance b/d
To: Cash
Amount: $300.00
For: Drawings
Balance c/f
PETTY CASH VOUCHER
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 29
DEBIT: Office Expenses
Particulars: milk
No: 3
GST free
Amount: $2.00
Signed:
Date: May 28
STUE’S STICKS
Sporting equipment to suit all purposes
Civic Road APOLLO PARKLANDS 3095 TELEPHONE 943867676
SUPPLIED TO: Nicole’s Mega Mart
34 Smiths Rd
Eltham North 3095
TAX INVOICE NO:
STH3
DATE: May 29
ITEM
Sticks
DETAILS
Hockey Sticks
TERMS: 10/7 NET 30
UNITS
55
TOTAL
$1925 .00
GST
$192.50
STUE’S STICKS
Sporting equipment to suit all purposes
Civic Road APOLLO PARKLANDS 3095 TELEPHONE 943867676
SUPPLIED TO: Apollo Parklands Hockey Club
P.O. Box 147
Apollo Parklands 3095
TAX INVOICE NO:
STH4
DATE: May 30
ITEM
Sticks
DETAILS
Hockey Sticks
TERMS: 10/7 NET 30
UNITS
100
TOTAL
$3500.00
GST
$350.00
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 30
Task 3: Entering the May 31, adjustments:
1. Depreciate, using the straight-line method, the Van 2.5%, the
Refrigerator 2% and the Office Furniture 1.5%, Shelving 1%.
2. There is $250 wages owing to a casual part-time sales assistant
3. From a physical stock count you have found that one stick is missing.
Task 4: Printing:
1. A Bank register report.
2. A Trial Balance as at May 31
3. A Statement of Performance (P & L) for the month of May.
4. A Statement of Position (Balance Sheet) as at May 31
Task 5: Graphs:
1. Print a graph of the Income and Expenses for May
2. Print a graph of the Accounts Receivable and Accounts Payable as at May
31.
3. Print a cash flow statement as at May 31
Notes prepared For Quicken by Ken Boyle – Education Consultant Page 31