Description
Toys Galore is the registered trading name of a toys and games merchandising business. Andrew Hewitt is the proprietor and sole owner.
Andrew had many years of experience working as a salesperson in various retail toy departments and shops before he decided to establish his own business in 2003. He has used the contacts he has established over the years to assist him in sourcing a variety of goods directly from the manufacturers. He then sells the goods to retail outlets and occasionally directly to the public. The student must prepare the financial statements for the business when Andrew has a dispute with his accountant.
The major advantage of teaching and learning with a manual practice set is that students will gain a genuine understanding of the underlying processes involved in preparing a set of financial statements. In a computerised setting, these processes occur in the background and typically are unseen by the user of the software.
Toys Galore is ideal to package with Horngren et al. Accounting and Financial Accounting and/or with Peirson & Ramsay Financial Accounting.
Features and Benefits
* Uses a periodic inventory system
* Does not include GST
* Includes source documents for business transactions for the month of June
Table of Contents
Introduction
Accounting Information
Journals & Ledgers
Specific Information
Instructions - June 08 Transactions
Transaction Source Documents - June 2008
Instructions - July 08 transactions
General Journal June
General Journal July
Sales Journal
Purchases Journal
Cash Receipts Journal
Cash Payments Journal
Petty cash book
Accounts receivable subsidiary ledger
Accounts payable subsidiary ledger
General ledger
Bank reconciliation statement
Schedule of Accounts Receivable and Payable
Worksheet
Income Statement
Balance Sheet
About the Authors
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Peter Hall, BAcc, CPA, is a lecturer in the School of Commerce, University of South Australia. He teaches both undergraduate and postgraduate introductory accounting units. This is Peter's first accounting practice set for Pearson Education.
