What types of different accounting journals would you expect

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Reference no: EM131064798 , Length:

Topic - Accounting systems, special journals and subsidiary ledgers

Refer to the latest financial report of JB Hi-Fi limited on its website, www.jbhifi.com.au, and answer the following question:

1. JB Hi-Fi limited is one of Australia's major home entertainment retail organizations. After reviewing the finical report, what types of different accounting journals would you expect the company to use?

2. From the statement of cash flows, name the journal(s) or journal summaries in which you would expect to find the following transactions recorded:

(a) receipt from customers

(b) payment to suppliers and employees

(c) dividends paid to members of the parent entity

(d) payments for property, plat and equipment.

3. From the Financial statements and notes in relation to revenues and expense and expenses, name the journal(s) or journal summaries in which you would expect to find the following transactions recorded:

(a) cost of sales expense

(b) sales and marketing expense

(c) other income

(d) occupancy expense.

4. In general journal format, provide entries that could be made by the company to account for all of the items in (2) and (3) above.

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The given solution contains contains a MS Document and an MS Power point file. The assignment contains solution to the 'Accounting system, Journals & subsidiary ledgers' ,is around 12 Pages and more than 1900 words count. It includes the Tittle Page, a separate Page of Table of Contents,solution to the set of questions and references. This is a verified solution and it answers to all the questions mentioned in the requirement.

Reference no: EM131064798

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