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Financial Information Systems MYOB Assignment

1 ACC60006 Financial Information Systems MYOB Assignment, Semester 1 2017: ‘Deeper Dives’ Essential Information To complete this assignment, you must download the MYOB data file (Student Names Deeper Dives). When downloading the MYOB file, you MUST change the file name. Your name must be inserted at the start of the file name. (Your Name Deeper Dives). For example, if the student’s name is John White, the file and company name of that student’s assignment must be (John White Deeper Dives). If it is a group assignment, ALL group members’ names must be recorded on the business name. All names MUST also be added in the Company Name in the MYOB file.

Any assignment without student name(s) in the company name will not be accepted. Background Deeper Dives (ABN 84 958 732 843) is owned and operated by Fred Flathead and is situated at 122 Slides Street, Williamsville, Victoria, 3957. Deeper Dives specializes in selling locally manufactured diving equipment and takes students on diving courses in its boat. The business charges GST on all inventory sales and dive lessons, and pays GST on inventory purchases and most business expenses. Employees Deeper Dives employs two casual assistants. Katerina Cray works as a dive instructor on the boat with Fred, and Peter Prawn works in the shop selling stock and taking bookings for dive lessons. Fred pays Katerina $25 per hour. Peter is paid $20 per hour. (Ignore PAYG income tax) Note: Do not use the employee section of MYOB, record the wages expense and tax as a cash payment. Goods and Services Tax All transactions which incur GST are identified, the GST is 10% 2 Supplier information Name Address ABN Sponge Bob Industries 425 Sydney Road, Coburg 50 596 794 363 Right Dive Pty Ltd Tide Towers Business Complex, Williamsville 20 888 560 222 Plankton Publishers 87 Circular Drive, Spotswood 92 000 444 666 All purchases are on terms - net 30 days.

Merchandise Inventory The following is a list of inventory and the suppliers. Item Code Description Cost Price Sale Price Supplier SDS Summer Dive Suit $130 $250 Right Dive Pty Ltd WDS Winter Dive Suit $150 $280 Right Dive Pty Ltd BV BuoyancyVest $50 $150 Sponge Bob Industries DSK Dive Starter Kits $40 $90 Sponge Bob Industries LDM Learn to Dive Manuals $10 $20 Plankton Publishers Each of the above items of inventory is quoted excluding GST. Restocking inventory: The required inventory is purchased on credit under the terms of payment required by the suppliers. Fred has an excellent relationship with each of his suppliers.

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