Al Wilson owns and runs a retail and wholesale surf shop, Surf Haven, in a sea side town
The business is situated on a prominent corner of the town at 1 View Street, Bell’s Inlet. Its
custom is mainly from young surf board, sailing and boogie board riders.
The shop has a nautical atmosphere and is very well organised. Products consist of
surfboards, sailboards and boogie boards. Surf Haven also sells second-hand surfboards on
Surf Haven also supplies many of the surf shops around the coast.
The business charges GST on all inventory sales and surfing lessons, and pays GST on
inventory purchases and most business expenses.
Surf Haven employs two casual assistants, Brian Jardine, works as a surfing instructor with Al
and Carl Holland who works in the shop selling stock, and taking bookings for surf lessons.
Fred pays both Brian and Carl $30 per hour. Each employee works between 10 to 15 hours
per week, depending on the season and demand. Payday is every second Wednesday.
At the end of February, Surf Haven owed 4 hours pay to both Brian and Carl.
Note: Do not use the payroll section of MYOB; record wages expense cash payment.
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Goods and Services Tax
Surf Haven pays GST of 10% on all business expenses, except wages. Non-current asset
acquisitions are also taxed at 10%.
Merchandise Inventory
The following is a list of closing inventory and the suppliers as at 28 February 2018.
on hand
Description Cost Price Sale
20 SFB Surfboards $420 $750 Custom Surfboards
15 BBD Boogie Boards $120 $240 Wave Rider
30 SFM Surfing Manuals $10 $25 Seahorse Publishers
Each of the above items of inventory is quoted excluding GST.
The required inventory is purchased on credit under the terms of payment required by
the suppliers.
Al has a good relationship with each of his suppliers. Once he places an order, the
suppliers will deliver them free of charge the same day.
All lessons are paid for at the time of the lesson and is recorded separately to the
sale of inventory.
Supplier information
Suppliers account balances at 28 February 2018.
Name Address Account Balance
Custom Surfboards
ABN 50 566 722 363
56 Main Street, Torquay $3,700
Wave Rider
ABN 20 888 566 222
2 Beach Road, Fairhaven $5,500
Seahorse Publishers
92 000 444 666
1B Carlton Parade, Geelong $2,300
Each of the above account balances represents deliveries of inventory received on 22
February 2018; all purchases are on terms 2/10, n30. All inventory items are delivered on the
same day as they are ordered.
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Customer information
Surf Haven sells most of its inventory strictly on a cash basis, but the business has three
credit customers. Terms of payment for these customers are net 30 days.
Customer balances at 28 February 2018:
Name Address Date Last
Sharkeys Wye River
ABN 62 444 333 543
14 Bay Street
Wye River
Feb 18 $2,400
Torquay Surf Shop
ABN 50 596 794 363
47 Buckley Road,
Feb 20 $4,000
Aireys Surf Club
ABN 877 475 200
3 Aireys Lane
Aireys Inlet
Feb 22 $1,700
Terms of payment for customers is 2/10, n30. Freight of $50 (GST exclusive) is charged for
all credit sales.
Trial Balance as at 28 February 2018
Account Debit ($) Credit ($)
1-1110 Bank 10,500
1-1200 Accounts Receivable 8,100
1-1300 Inventory 10,500
1-1400 Stationery supplies 650
1-3110 Shop Fittings & equipment (cost) 12,500
1-3120 Accumulated depreciation Shop fittings & equipment 1,450
1-3210 Motor vehicle (cost) 22,000
1-3220 Accumulated Depreciation – Motor Vehicle. 3,500
2-1200 Accounts Payable 11,500
2-1310 Net GST Payable 560
2-1350 Wages payable 240
2-2100 Loan – ANZ Bank, Bell’s Inlet 20,000
3-1200 Capital – Al Jardine 27,000
Total 64,250 64,250
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Transactions: March 2018
1 Paid cash for printing expenses to Acorn Press– $594 (GST Inclusive).[chq 201]
1 Purchased a new cash register for $2,310 (GST inclusive) [chq 202].It is expected that
the cash register will have an effective life of 6 years with a nil residual value.
2 Paid three month’s rent of $4,620 (GST inclusive) to Prime Real Estate. [chq 203].
3 Paid for two months (March & April) advertising in the Surfing Times – $286 (GST
inclusive) [chq 204]
4 Credit sale to Airey’s Surf Club : inventory sold: 2 boogie boards, 2 surfboards, 3 surfing
manuals (Invoice CR663)
5 Received payment of $4,000 from Torquay Surf Shop
8 Received $1,540 (GST inclusive) for surfing lessons.
8 Paid Seahorse Publishers for February account. [chq 205]
9 Paid cash to GMJ Autos for vehicle expenses- $297 – (Including GST) [chq 206]
9 Purchased inventory: 12 surfboards and 16 boogie boards. (P.O. 326, 327)
9 Received payment from Starkey’s Wye River for balance outstanding at 27 February.
10 Paid Wave Rider the balance outstanding at 28 February. [chq 207]
10 Purchased office supplies from Ace Office Supplies, $803 [chq 208]
11 Sales Invoice sent to Sharkeys Wye River for the following items:6 surfboards, 6 boogie
boards, 10 surfing manuals (invoice CR664)
12 Received $3,410 (GST inclusive) from Point Hicks School for surfing lessons.
12 Pay day. Carl was paid for 28 hours and Brian was paid for 30 hours; the payments
included wages owing from February. [Chqs 209 & 210]
12 Purchased inventory: 15 surfboards and 12 surfing manuals (P.O. 328)
14 Received payment from Airey’s Surf Club for February account.
15 Credit sale to Torquay Surf Club: 14 surfboards, 10 boogie boards and 15 surfing
manuals (Invoice CR665)
16 Cash drawings – Cheque payable to Al Wilson of $2,000 [chq 211]
16 Paid cash for vehicle expenses – $220 (Including GST) [chq 212]
16 Purchased 12 boogie boards (P.O. 329)
17 Received payment from Airey’s Surf Club for 4 March sales.
17 Returned 2 boogie boards to Wave Rider. They were slightly damaged. A Credit Note
was issued by the supplier. These items were from the purchase on 16 March
18 Received payment from Sharkey’s Wye River for inventory sold on 11 March.
18 Cash sales of 3 surfboards and 3 surfing manuals (Invoice CS754)
19 Purchased 10 surfing manuals (P.O. 330)
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19 Paid Australian Taxation Office GST owing [Chq 213]
20 Paid Wave Rider for inventory purchased on 16 March [Chq 214]
21 Paid Custom Surfboards the balance outstanding on 28 February 2018[chq 215]
22 Credit sale to Aireys Surf Club: 5 surfboards and 5 boogie boards (Invoice CR666)
23 Purchased 12 surfboards and 15 surfing manuals (P.O. 331 & 332)
23 Al introduces a new product for sale. He purchased 20 sailboards from Wave Rider for
$400 each (GST exclusive) (P.O. 333). Selling price of the sailboards is $640 each (GST
24 Paid Custom Surfboards for inventory purchased on 12 March. [Chq 216]
24 Paid monthly repayment to ANZ for bank loan; $1,050 (includes $50 interest). GST is not
payable on this transaction. Fred decided that the business would pay an additional $500
off the loan principal. [chq 217]
25 Paid Telstra Ltd for business phone accounts – $572 (GST Inclusive) [chq 218]
25 Credit sale to Sharkeys Wye River: 8 surfboards, 9 boogie boards and 7 sailboards.
(Invoice CR667)
26 Pay day. Carl was paid for 30 hours and Brian was paid for 24 hours. [chqs 219 & 220]
26 Sharkeys Wye River returned 1 sailboard and received a credit note. The sailboard was
undamaged and returned to inventory.
27 Received $2,695 cash (GST inclusive) for surfing lessons.
27 A customer purchased 3 surfboards for cash at a special price of $1,485 each (including
GST). The customer also purchased 6 surfing manuals at the normal price. (Invoice
28 Received partial payment of $7,000 from Torquay Surf Club.
31 The ANZ Bank in Williamsville has sent a bank statement for the month of March 2018.
The following items were noted from the bank statement:
 Bank fees of $35 were debited to the account on 30 March
 A credit for an electronic transfer of $1,200 was received for sale of second-hand surfboards on
Adjustments at 31 March 2018
Some of the necessary adjustments are to be found in the transactions above. Other
adjustments are listed below.
1. The physical stock take does not agree with the computer records and adjustments
for inventory are required.
Physical stock-take as at 31 March 2018:
• Surfboards 18
• Sailboards 14
• Boogie boards 8
• Surfing manuals 28
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2. A stock take of stationery supplies revealed $540 of stationery on hand at 31 March
3. The shop fittings are to be depreciated using the straight line method, at 15%
per annum on cost. The motor vehicle is to be depreciated using the straight
line method at 20% per annum on cost.
4. Accrued wages owing on 31 March 2018: Carl – 8 hours, and Brian – 10 hours.
Accounts List
1-1000 Current Assets
1-1110 Cash at Bank
1-1180 Undeposited funds
1-1190 Electronic clearing account
1-1200 Trade Accounts Receivable
1-1250 Other income receivable
1-1300 Inventory
1-1400 Stationery supplies
1-2200 Prepaid expenses
1-3100 Shop fittings
1-3110 Shop fittings at cost
1-3120 Shop fittings-accumulated depreciation
1-3200 Motor vehicle
1-3210 Motor vehicle at cost
1-3220 Motor vehicle-accumulated depreciation
1-3300 Cash register
1-3310 Cash register at cost
1-3320 Cash register-accumulated depreciation
2-1200 Accounts Payable
2-1300 GST Liabilities
2-1310 GST Collected/Payable
2-1330 GST Paid/Receivable
2-1350 Net GST Payable/Receivable (manual recording only)
2-1600 Customer deposits
2-1700 Wages payable
2-1750 Other expenses payable
2-2100 Loan-Eastern Bank
3-1000 Owners’ Equity
3-1100 Capital-Al Wilson
3-1200 Drawings-Al Wilson
3-8000 Retained Earnings
3-9500 Profit and Loss Summary (manual recording only)
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4-1100 Sales
4-1200 Sales returns (manual recording only)
4-1300 Lessons income
4-2000 Freight fees collected
Cost of sales
5-1100 Purchases(Cost of goods sold-manual recording)
5-1200 Inventory loss/gain
5-2000 Freight expense
6-1000 Advertising expense
6-1210 Discount given
6-1220 Discount taken
6-1300 Depreciation-shop fittings
6-1400 Depreciation-motor vehicle
6-1500 Depreciation-cash register
6-1600 Motor vehicle expenses
6-1700 Printing
6-1800 Stationery supplies expense
6-1930 Wages and salaries
6-2100 Rent expense
6-2200 Telephone expenses
6-2300 Bank fees
Other expenses
8-1000 Interest expense
Other income
9-1000 Interest income
9-1100 Commission income
Note: Delete or hide accounts not required.
Accounts which are linked accounts cannot be deleted
Part A: Manual recording
1. Record the opening balances as at 1 March 2018 in the appropriate general ledger
accounts and the opening balances of accounts receivable, accounts payable and
inventory in the appropriate subsidiary ledgers.
2. Record the transactions in the appropriate general or special journal for March 2018.
Post all transactions from journals to the general ledger in accordance with accounting
3. Prepare schedules of accounts receivable, accounts payable and inventory as at 31
March 2018 and reconcile these with the control accounts in the general ledger.
4. Record end of month adjustments in the general journal and post these to the general
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5. Prepare a Trial Balance before and after end of month adjustments as at 31 March 2018
6. Prepare an Income Statement for March 2018 and a Balance Sheet as at 31March 2018.
7. Prepare closing entries for March 2018.
8. Prepare a Trial Balance after closing entries for March 2018.
Transactions must be recorded in the pro-forma journals, ledgers, worksheets and reports
available in the assessment folder.
(marks: 18/30)
Part B Computerised accounts using MYOB
1. Set up a data file for Surf Haven and process the transactions for March 2018.
2. The Easy Setup Assistant can be used for the initial setup process to:
 Prepare the Chart of Accounts
 Enter the opening balances in the general ledger
 Setup customer and supplier cards and enter opening balances in the specialist
The Command Center can be used to create inventory items and enter opening balances
of inventory
3. Record the transactions for March 2018.
4. Record end of month adjustments.




Sample Solution

Sample solution

Dante Alighieri played a critical role in the literature world through his poem Divine Comedy that was written in the 14th century. The poem contains Inferno, Purgatorio, and Paradiso. The Inferno is a description of the nine circles of torment that are found on the earth. It depicts the realms of the people that have gone against the spiritual values and who, instead, have chosen bestial appetite, violence, or fraud and malice. The nine circles of hell are limbo, lust, gluttony, greed and wrath. Others are heresy, violence, fraud, and treachery. The purpose of this paper is to examine the Dante’s Inferno in the perspective of its portrayal of God’s image and the justification of hell. 

In this epic poem, God is portrayed as a super being guilty of multiple weaknesses including being egotistic, unjust, and hypocritical. Dante, in this poem, depicts God as being more human than divine by challenging God’s omnipotence. Additionally, the manner in which Dante describes Hell is in full contradiction to the morals of God as written in the Bible. When god arranges Hell to flatter Himself, He commits egotism, a sin that is common among human beings (Cheney, 2016). The weakness is depicted in Limbo and on the Gate of Hell where, for instance, God sends those who do not worship Him to Hell. This implies that failure to worship Him is a sin.

God is also depicted as lacking justice in His actions thus removing the godly image. The injustice is portrayed by the manner in which the sodomites and opportunists are treated. The opportunists are subjected to banner chasing in their lives after death followed by being stung by insects and maggots. They are known to having done neither good nor bad during their lifetimes and, therefore, justice could have demanded that they be granted a neutral punishment having lived a neutral life. The sodomites are also punished unfairly by God when Brunetto Lattini is condemned to hell despite being a good leader (Babor, T. F., McGovern, T., & Robaina, K. (2017). While he commited sodomy, God chooses to ignore all the other good deeds that Brunetto did.

Finally, God is also portrayed as being hypocritical in His actions, a sin that further diminishes His godliness and makes Him more human. A case in point is when God condemns the sin of egotism and goes ahead to commit it repeatedly. Proverbs 29:23 states that “arrogance will bring your downfall, but if you are humble, you will be respected.” When Slattery condemns Dante’s human state as being weak, doubtful, and limited, he is proving God’s hypocrisy because He is also human (Verdicchio, 2015). The actions of God in Hell as portrayed by Dante are inconsistent with the Biblical literature. Both Dante and God are prone to making mistakes, something common among human beings thus making God more human.

To wrap it up, Dante portrays God is more human since He commits the same sins that humans commit: egotism, hypocrisy, and injustice. Hell is justified as being a destination for victims of the mistakes committed by God. The Hell is presented as being a totally different place as compared to what is written about it in the Bible. As a result, reading through the text gives an image of God who is prone to the very mistakes common to humans thus ripping Him off His lofty status of divine and, instead, making Him a mere human. Whether or not Dante did it intentionally is subject to debate but one thing is clear in the poem: the misconstrued notion of God is revealed to future generations.



Babor, T. F., McGovern, T., & Robaina, K. (2017). Dante’s inferno: Seven deadly sins in scientific publishing and how to avoid them. Addiction Science: A Guide for the Perplexed, 267.

Cheney, L. D. G. (2016). Illustrations for Dante’s Inferno: A Comparative Study of Sandro Botticelli, Giovanni Stradano, and Federico Zuccaro. Cultural and Religious Studies4(8), 487.

Verdicchio, M. (2015). Irony and Desire in Dante’s” Inferno” 27. Italica, 285-297.