Systems understanding aid 9th edition transaction list b

ACCT 3252 SUA – Part A Assignment 1. Go to page 10 in your SUA – Instructions, Flowcharts, and Ledgers book 2. Select the “Blue” Document 1 Transactions List. Also referred to as Letter A. a. DO NOT THROW AWAY/DISCARD THE GREEN DOCUMENT OR LETTER B. SAVE FOR LATER. 3. You will choose Option 2 for the assignments on page 11. 4. Record each transaction in chronological date sequence. Any accounting entry will be done in the appropriate journals. a. HINT: i. You will have at minimum a Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Disbursements Journal, and Payroll Journal. ii. Journals are for the entire month of December. You will have to rebuild the journals at December 1st. The transactions list Option A starts at December 18th. Refer to Document No. 9 and Document No. 24 to see prior transactions for the month December. iii. I have prepared a Journal Samples Microsoft Excel Spreadsheet. Please use this to enter transactions. This is not a complete set. You will also have two subsidiary accounts for Accounts Payable and Accounts Receivable. Categorize these sub accounts based on vendor name and customer name respectively. b. You will need to prepare a General Ledger categorized by each GL number. i. Please refer to pages 25-29 for beginning balances and columns. c. Journals must be completed using Microsoft Excel or Green Bar paper. (I prefer Excel). i. Each journal should be a separate sheet in the same file. ii. HINT: You may want to print all the journals first so that you can see all the transactions at once. Once complete, you can enter them into Excel. 5. Follow the seven step process for recording a transaction. SUA – Part B Assignment 1. Go to page 5 of the “Blue” Document 1 Transactions List a. Complete year – end procedures 2. Go to page 14 of the SUA – Instructions, Flowcharts, and Ledgers book a. Complete the following procedures i. Item #1 & #2 3. Complete item #3 on page 15 – prepare a trial balance worksheet – see page 18 for reference or Excel projects 1 & 2 as a reference. a. Adjustments and journals to the adjustments should be recorded similar to Excel projects 1 & 2. b. Item # 7 – adjusting entries should also be entered in trial balance worksheet. 4. Complete item #4 on page 15 – calculate federal income tax 5. Complete #5 on page 15 – prepare an income statement, balance sheet, and statement of retained earnings. Do NOT complete a Cash flow statement. 6. Complete #7 on page 15 – adjusting entries from general journal to general ledger. NOTE – item #6 is not required. NOTE – items #3 thru #5 should be completed on an Excel spreadsheet and uploaded in Blackboard. NOTE – Item #7 can either be completed on an Excel spreadsheet and uploaded in Blackboard or completed on paper. Sales Journal: December Debit Date 1-Dec Customer Rosemont University Monthly Totals Credit Inv. Or Cr. Sales Memo Subs Acct. Acct. Rec. Returns Number No. Subs Post GL 10200 GL 30200 727 406 x 4174.00 4174.00 0.00 Sales GL 30100 4174.00 4174.00 Cash Receipts Journal: December Debit Date Description 6-Dec Gates University Monthly Totals CTRL Init NF Cash GL 10200 5891.00 5891.00 Sales Disc. GL 30300 0.00 A/R GL 10200 Subs Acct# Credit A/R GL 10200 Amount 0.00 Post Sales GL 30100 5891.00 5891.00 Acct # Other GL Amount Post 0.00 Purchases Journal: December Debit Cr A/P - GL 20100 Other GL Date 1-Dec Vendor Velocity Sporting Goods Monthly Totals Vendor Invoice No. 33965 Purchases G/L 30500 36115.00 36115.00 Acct # Amount Post Sub Acct 252 Credit A/P - GL 20100 Amount 36115.00 36115.00 Post x Purchase Ret. GL 30600 0.00 Cash Disbursements Journal: December Credit De A/P GL 20100 Date 7-Dec Check No. Description 13-Feb First Security Insurance Monthly Totals Cash GL 10100 2575.00 2575.00 Purch Disc. GL 30700 0.00 Subs. AC # Amount 0.00 Debit /P GL 20100 Other GL Post Freight In GL 30800 0.00 AC # 41400 Amount 2575.00 2575.00 Post x Earnings Date Employee 15-Dec Ray Kramer Monthly Totals Regular Hours Regular Overtime Overtime Gross Pay Pay Hours Pay GL 40500 3500.00 3500.00 3500.00 0.00 3500.00 Deductions Payment Fed Inc. F.I.C.A. GL Tax GL Net Pay Subs 20600 20300 GL 10100 Chk. No. Post Ref. 267.75 385.00 2847.25 1149 267.75 385.00 2847.25 Waren Sports Supply General Journal December, 2017 Date 22-Dec Acct. No. Explanation 10300 Allowance for doubtful accounts 10200 Accounts Receivable To write off uncollectible Stevenson College Account - Approval RK Post Debit 2900.00 Credit 2900.00 ...