Read the information in the case study in order to become familiar with the business operations,

the accounting procedures, the accounting system and how GST is accounted for.

2. Record the opening balances in the subsidiary ledgers (accounts receivable, accounts payable

and inventory cards) and the general ledger.

3. Prepare general journal entries for reversing entries and post these to the general ledger.

Reversing entries are required for:

 Wages and salaries payable; and

 Electricity payable.

4. Record the transactions for the month of July 2013 in the appropriate general or special journal.

Please note, transactions must be entered in date order. You should not, for example, enter all

of the sales, then all of the cash receipts. You must enter the transactions into the relevant

journal in date order. If you do not, cost of goods sold and other data may be inaccurate.

5. Post the general and special journals to the subsidiary ledgers (including movements of stock on

the inventory cards) and the general ledger in accordance with the accounting policies and

procedures of Letana Garden Supplies Pty Ltd.

6. Perform the bank reconciliation process as at 31 July 2013.

7. Complete and post all journals to the general ledger.

8. Prepare schedules of accounts receivable, accounts payable and inventory as at 31 July 2013 and

reconcile them with the control accounts in the general ledger.

9. Prepare a trial balance on the worksheet provided, record balance day adjustments in the

appropriate columns and complete the worksheet.

10. Record the balance day adjustments in the general journal and post them to the general ledger.

11. Prepare an income statement and balance sheet for the month of July 2013.

12. Prepare and post closing general journal entries for the month.

13. Balance general ledger accounts and prepare a post-closing trial balance.

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