Assignment -
1. EDIT COMPANY INFORMATION
a. Change the company's name to your full name and exam I. For example, John Jones - Exam 1.
b. Change the Company's Legal Name to your full name and exam 1. For example, John Jones - Exam 1.
2. CUSTOMIZE THE CHART OF ACCOUNTS
a. Change the title of the checking account to First State Bank Checking.
b. Change the title of account 30100 Capital Stock to Common Stock.
c. Add the following subaccounts to a Fixed Asset:
|
Account Type
|
Fixed Asset
|
|
Number
|
Choose an appropriate number
|
|
Account Name
|
Forklift - Cost
|
|
Subaccount of
|
Construction Equipment
|
|
Description
|
Used heavy duty forklift
|
|
Account Type
|
Fixed Asset
|
|
Number
|
Choose an appropriate number
|
|
Account Name
|
Accum. Depre. Forklift
|
|
Subaccount of
|
Construction Equipment
|
|
Description
|
Total depreciation of forklift
|
3. a. CREATE A NEW CUSTOMER ACCOUNT
|
Customer Name
|
Campus Restaurant
|
|
Opening Balance
|
0 as of 09/01/2017
|
|
Company Name
|
Campus Restaurant
|
|
Main Phone
|
908-555-4511
|
|
Address
|
241 Crown Street, Bayshore, CA 94326
|
|
Ship to
|
241 Crown Street, Bayshore, CA 94326
|
|
Account #
|
72510
|
|
Credit limit
|
5000
|
|
Payment Terms
|
2% 10 Net 30
|
|
Preferred Method of Payment
|
Check
|
|
Credit Card No.
|
9876-5432-1234-5678
|
|
Tax Code
|
Tax
|
|
Tax Item
|
San Tomas
|
|
Customer Type
|
Commercial
|
b. ADD A JOB
|
Job Name
|
Kitchen Repair
|
|
Company Name
|
Campus Restaurant
|
|
Opening Balance
|
0 as of 09/01/2017
|
|
Job Description
|
Kitchen Repair
|
|
Job Type
|
Repairs
|
|
Job Status
|
Awarded
|
|
Start Date
|
09/03/2017
|
|
Projected End
|
09/05/2017
|
4. ADD A VENDOR
|
Vendor Name
|
Tom's Hardware Store
|
|
Opening Balance
|
0 as of 09/01/2017
|
|
Company Name
|
Tom's Hardware Store
|
|
Main Phone
|
908-555-1323
|
|
Main E-mail
|
[email protected]
|
|
Address (Billed from/Shipped to)
|
5110 Market St., Bayshore, CA 94326
|
|
Account No.
|
2011
|
|
Credit Limit
|
5000
|
|
Payment Terms
|
2% 10 net 30
|
|
Print on check as
|
Tom's Hardware Store
|
|
Vendor Tax ID
|
37-8911501
|
|
Vendor eligible for 1099
|
No
|
|
Vendor Type
|
Materials
|
5. ADD INVENTORY ITEM
|
Type: Inventory Part
|
Inventory Name: Acrylic Paint Primer
|
|
Manufacturer's Part Number: APP123
|
Purchase/Sales Description: One-gallon can
|
|
Cost: $12
|
Sales Price: $24.99
|
|
COGS Account: 50100 Cost of Goods Sold
|
Tax Code: Tax
|
|
Preferred Vendor: Tom's Hardware Store
|
Income Account: 40140 Materials Income
|
|
Asset Account: 12100 - Inventory Asset
|
Reorder Point: 5
|
|
Quantity on Hand: 0
|
As of: 09/01/2017
|
6. Record the following transactions in date sequence
Note - Charges San Tomas Tax on all sales Transactions
a. 09/01/2017 - Received a long-term loan of $7,200 from Lending Tree, This loan is to be repaid in monthly installments over a 3-year period with interest of 10% per annum starting Nov 1. Deposit this amount into First State Bank Checking.
b. 09/04/2017 - Ordered 25 cans of Acrylic Paint Primer from Tom's Hardware Store. Purchase Order #0101.
c. 09/07/2017 - Replenished the petty cash fund by writing check #801 for $487.50 to the petty cash custodian, Greg O. Schneider (employee). At this date the fund consisted of $12.50 cash and the following petty cash receipts: postage 25.00; office supplies 105.70. automobile insurance 185.00, reseals and entertainment 80.75 and legal fee $93.
d. 09/1012017 - Purchased a used forklift for $7,200 from Equipment Sales Company and paid with check #802.
e. 09/12/2017 - Received 20 cans of Acrylic Paint Primer from Tom's Hardware Store without a bill.
f. 09/13/2017 - Charged Campus Restaurant: Kitchen Repair job for the following items (Invoice #012017): 4 Interior door kits at $120 each; 5 cans of Acrylic Paint Primer; 6 hours of painting at $35 per hour and 3 hours of removal labor at $35 per hour.
g. 09/14/2017. Sold 3 cans of Acrylic Paint Primer to Waterman, Pamela for cash. Pamela paid with Visa card 4321-0987-5678-6543. Deposited this payment into First State Bank Checking. Record a 5% bankcard fee. Use account 60600 Bank Service Charges.
h. 09/15/2017 - Received bill #4285 from Tom's Hardware Store for 20 cans of Acrylic Paint Primer plus $25 freight and delivery.
i. 09/17/2017 - Returned 2 damaged cans of Acrylic Paint Primer to Tom's Hardware Store for a credit.
j. 09/19/2017 - Issued credit memo #012017C to Campus Restaurant: Kitchen Repair job for I hour of removal labor and 1 can of Acrylic Paint Primer. Apply this credit to invoice #012017.
k. 09/20/2017 - Paid Tom's Hardware Store bill #4285. (less credit and discount), with check #803.
l. 09/22/2017 - Received check #2409 for $700 from Campus Restaurant in partial payment of its Kitchen Repair job. Apply credit memo #012017C and the appropriate discount toward this payment.
m. 09/23/2017 - Paid January's gas and electric bill of $123.26 with check #804 payable to Elizabeth Gas.
n. 09/24/2017 - Deposit into First State Bank Checking Campus Restaurant's check #2409.
o. 09/28/2017 - Waterman, Pamela returned 1 can of Acrylic Paint Primer for a cash refund. (Check #805)
p. 09/29/2017 - Thomas Alexander purchased 1,000 shares of the company's $0.25 par value common stock and paid by cheek #72532 for $750. This check was immediately deposited into First State Bank Checking.
q. 09/29/2017 - First State Bank returned Campus Restaurant's check #2409 for $700 marked NSF and charged your company $20 for this NSF check. Use Account 60600 Bank Service Charge for the bank fee. Your company charged Campus Restaurant $30 fee for the NSF check.
7. PRINT THE FOLLOWING REPORTS: (REPORTS MUST FIT TO 1 PAGE WIDE)
1. Journal - from 09/01/2017 to 09/30/2017 (show account numbers and full title)
2. Trial Balance - from 09/01/2017 to 09/30/2017
3. Check Register - from 09/01/2017 through 09/30/2017.