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SimulationMaintaining Financial Records

Unit Leader:Sarah Moore-Williams

Unit Reference Number:

MAC_1_117

Faculty of Business

2008/2009

become what you want to beSTUDENT NAME: STUDENT NUMBER:


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Required

1. Enter the opening balances for the Nominal Ledger using the T accountsprovided in Section A.

2. Enter the opening balances for the customer accounts in the Sales Ledger usingthe T accounts provided in Section B.

3. Create the Sales Day Book for September using the data given. Ensure that youcalculate the invoice total including VAT at 17.5%. Ensure you use the Sales DayBook provided in Section C.

4. Total the Sales Day Book.

5. Post the total of the Sales Day Book using the T accounts provided in thenominal ledger in Section A.

6. Post the totals of the individual lines of the Sales Day Book to the Sales Ledgeraccounts using the T accounts provided in Section B

7. Total the cash receipts.

8. Post the cash receipts to using the T accounts in the Nominal Ledger provided inSection A.

9. Post the cash receipts using the T accounts in the Sales Ledger provided inSection B.

10. Balance off the T accounts in the Sales Ledger.

11. Balance off the Sales Ledger Control account in the nominal ledger

12. Create reconciliation between the Sales Ledger Control account and thebalances on the customers accounts as at end of September 2009 in Section D.

YOU HAVE THREE HOURS TO COMPLETE THIS

ASSESSMENT

THE DATA IS PROVIDED AT THE END OF THISBOOKLET


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SECTION A THE NOMINAL LEDGERINPUT RELEVANT DATA HERE


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SECTION B THE SALES LEDGERINPUT RELEVANT DATA HERE


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SECTION C THE SALES DAY BOOKINPUT RELEVANT DATA HERE

Date InvNumber

CustomerName

Sales offruit

$

Sales ofB&P

$

Sales ofroot

vegetables

$

VAT Gross


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SECTION D RECONCILIATION PAGE.

CREATE YOUR RECONCILIATION BETWEEN THE SALESLEDGER CONTROL ACCOUNT & THE TOTAL OF THE

BALANCES ON THE CUSTOMER ACCOUNT IN THE SALESLEDGER HERE.


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Sales Ledger Opening Balances

Customer Detail Personal Account Opening Balances as at 1/9/09

Account Number Name Balance$

TOLL1 Tolleys Farm Shop 1,400.50

FARM1 Farmer Giles Farmstead 3,760.67

MARY1 Marys Organic Caf 900.54

OLDH1 The Old House Restaurant 563.84

JBDEL1 JBs Deli 5,210.51

OLDF1 The Old Frog Public House 9,610.76

GOOS1 The Goose and Monkey Public House 3,542.50

JERE1 Jeremys Restaurant 1,546.85

PHIL1 Phils Farmhouse Foods 2,764.25

JACE1 Jaycees Supermarket 654.36

SAVA1 The Savannah Hotel 9.54


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Sales Invoice Detail for September 2009

Customer InvoiceNumber

Date Product Quantity

Ja- Ces Supermarket SEPT1 1/09/09 Fruit

Root vegetables

4 crates

2 crates

Tolleys Farm Shop SEPT2 2/09/09 Root vegetables 7 crates

Farmer Giles Farmstead SEPT3 2/09/09 FruitBeans & PeasRoot vegetables

1 crate1 crate3 crates

JBs Deli SEPT4 4/09/09 Beans & Peas 8 crates

Marys Organic Caf SEPT5 4/9/09 Fruit 1 crate

The Old House Restaurant SEPT6 7/09/09 Fruit 12 crates

JBs Deli SEPT7 8/09/09 Beans & Peas 4 crates

Farmer Giles Farmstead SEPT8 8/09/09 FruitBeans & PeasRoot vegetables


The Old Frog Public House SEPT9 12/09/09 Root vegetablesBeans & peasFruit

4 crates6 crates1 crate

The Goose and MonkeyPublic House

SEPT10 15/09/09 Root vegetables 6 crates

Jeremys Restaurant SEPT11 16/09/09 Beans & Peas 8 crates

Phils Farmhouse Foods SEPT12 17/09/09 FruitBeans & PeasRoot vegetables


Jaycees Supermarket SEPT13 20/09/09 Fruit 12 crates

Marys Organic Caf SEPT14 20/09/09 Beans & Peas 4 crates

The Old House Restaurant SEPT15 22/09/09 FruitBeans & PeasRoot vegetables


Jaycees Supermarket SEPT16 26/09/09 Root vegetables 6 crates

The Savannah Hotel SEPT17 27/09/09 Beans & Peas 8 crates

Tolley's Farm Shop SEPT18 29/09/09 FruitBeans & PeasRoot vegetables



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ALL FIGURES ARE GIVEN NET OF SALES TAX.SALES TAX MUST BE APPLIED AT A RATE OF 15%.

PRICE LIST AS AT 1/9/09

Prices are per crate

Fruit $28Beans & Peas $35

Root vegetables $22

Cash Book Receipts for September

Customer Date Value

Ja- Ces Supermarket 1/09/09 654.36

Tolleys Farm Shop 12/09/09 1,400.50

Farmer Giles Farmstead 14/09/09 3,760.67

JBs Deli 14/09/09 5,210.51

Marys Organic Caf 24/9/09 900.54

The Old Frog Public House 12/09/09 9,610.76

The Savannah Hotel 27/09/09 9.54


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