[avenger9000]

Hey me again. I have stumbled into another thing I have trouble remembering from Stage 1 Accounting at Auckland University in New Zealand but yeah thanks forest it was very helpful.

How would you enter the following into MYOB? Like what JEs you need

Tax Invoice

Invoice Number: 40581
Date: 26 Mar 2007
GST No.: 48-895-307

From: Ace Signs
13 Fox St
Parnell
Auckland 1124

To Rangitito Apparel Ltd which is the company in the assignment

And the amount is 160.00 for Sign writing in gold leaf on front door

"Registered office of Rangitoto Apparel Ltd"

And Julia has written "me" a note:

"This is a startup expense"

So I am assuming you go to record purcahse and then select servie as the layout
But what account do I debit??

I know I credit A/P

I think it is something like

Dr Startup expense (is this an asset or expense?? Doesn't look like an expense to me I think it is an asset that you write off later) 160

Dr GST 20
CR A/P 180

Also in MYOB there is this thing called trade creditors which I have been told is accounts payable in another name but this is not really trade is it so I created another account called accounts payable I am not sure if that's what I am supposed to do so please some advice

Also the registration charge paid for by Rangitoto Adventures Ltd on behalf of Rangitoto Apparel Ltd and this startup expesne, if the startup expesne is an asset also, like the question is, do I have to write them down at the end of the month?? Because I have to do end of month adjustments too thanks

Thanks in advance