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(a) Describe the detail of the transaction being performed in the following screen. (b) Give the journal entry that MYOB made as a result of the transaction in part (a) (Note: account numbers are not required, just use account names.)

(a) Describe the detail of the transaction being performed in the following screen. (b) Give the journal entry that MYOB made as a result of the transaction in part (a) (Note: account numbers are not required, just use account names.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(a) Describe the detail of the transaction being performed in the following screen.

(b) Give the journal entry that MYOB made as a result of the transaction in part (a) (Note: account numbers are not required, just use account names.)

Journal Display in GST (BAS) reports as: O Sale (Supply) O Tax Incusive O Purchase (Acquisition) OYear-End Adjustment General Journal No.: GJ000003 Date: 31/07/2018 Memo: Depreciation Acct No. Name Debit Credit Job Memo Tax 6-1710 Depn-Warehouse Equip $192.00 N-T 1-3120 Warehouse Equip - Accum Depn $192.00 N-T 6-1720 Depn Truck $2,500.00 N-T 1-3220 Truck - Accum Depn $2,500.00 N-T 6-1730 Depn - Fum and Fox $267.00 N-T 1-3320 F&F-accum depn $267.00 N-T 6-1740 Depn - Warehouse $333.00 N-T 1-3420 Warehouse-accum depn $333.00 N-T Total Debit: $3,292.00 Total Credit: $3,292.00 Тах $0.00 Out of Balance: $0.00 C Save as Recurring Use Recurring Record Cancel
Transcribed Image Text:Journal Display in GST (BAS) reports as: O Sale (Supply) O Tax Incusive O Purchase (Acquisition) OYear-End Adjustment General Journal No.: GJ000003 Date: 31/07/2018 Memo: Depreciation Acct No. Name Debit Credit Job Memo Tax 6-1710 Depn-Warehouse Equip $192.00 N-T 1-3120 Warehouse Equip - Accum Depn $192.00 N-T 6-1720 Depn Truck $2,500.00 N-T 1-3220 Truck - Accum Depn $2,500.00 N-T 6-1730 Depn - Fum and Fox $267.00 N-T 1-3320 F&F-accum depn $267.00 N-T 6-1740 Depn - Warehouse $333.00 N-T 1-3420 Warehouse-accum depn $333.00 N-T Total Debit: $3,292.00 Total Credit: $3,292.00 Тах $0.00 Out of Balance: $0.00 C Save as Recurring Use Recurring Record Cancel
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