Financial Accounting Systems - Highway Heaven Case Study - Accounting Assignment Help

Assignment Task:

Required:
Part A: manual recording
1. Record the opening balances as at 1 April 2020 in the general journal and appropriate general ledger accounts and the opening balances of accounts receivable, accounts payable and inventory in the appropriate subsidiary ledger accounts.
2. Record the transactions in the appropriate general or special journal for April 2020.
3. Record and post all transactions from the general and specialist journals to the general ledger in accordance with accounting procedures.
4. Prepare schedules of accounts receivable, accounts payable and inventory as at 30 April 2020 and reconcile these with the control accounts in the general ledger.
5. Record end of month adjustments in the general journal and post these to the general ledger.
6. Prepare a Trial Balance after end of month adjustments as at 30 April 2020.
7. Prepare closing entries for April 2020.
8. Prepare an Income Statement for April 2020 and a Balance Sheet as at 30 April 2020.
9. Prepare a Trial Balance after closing entries for April 2020.
Pro-forma journals, ledgers, worksheets and reports are available in the assessment folder and must be used to submit part A.(this is an excel file)

Part B Computerised accounts using XERO
1. Click on the link to the XERO Learning platform which is in an email sent to you from XERO.
2. From your XERO Learning platform, click on the template for Highway Heaven.
3. Create an appropriate Chart of Accounts for Highway Heaven (a sample Chart of Accounts is provided on page 6 of the assignment)
4. Enter the conversion balances as at 1 April 2020.
5. Record the transactions for April 2020.
6. Record end of month adjustments.

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