Before starting EM7.1, verify that QBO Inventory Tracking is turned on. Go to Gear icon > Account and Settings > Sales > Products and Services > Track quantity and price/rate On > Track inventory quantity on hand > On.

To enter products into the Products and Services List:

Required:

1. From the Navigation Bar, select Sales > Products and Services > New > Inventory
2. Enter the following information about Mookie The Beagle Concierge branded products.

Use the following when entering inventory:

• Inventory Asset Account: 1300 Inventory Asset
• Income Account: 4300 Sales of Product Income
• Expense Account: 5000 Cost of Goods Sold
• Initial Quantity on Hand: -0-
• As of Date: 01/01/2024. (Note: if you receive an error message when saving, try selecting the calendar and selecting the date from the calendar even if the date autopopulates.)
• Reorder Point: -0-
• Note: if you receive a sales tax message that an item might have a special tax consideration, select Skip.

CATEGORY	NAME	TYPE	DESCRIPTION	SALES PRICE	COST
PET Hammocks	Mookie The Beagle Hammock Small	Inventory	Mookie The Beagle Pet Hammock Small	$ 600	$ 180
PET Hammocks	Mookie The Beagle Hammock Medium	Inventory	Mookie The Beagle Pet Hammock Medium	$ 800	$ 320
PET Hammocks	Mookie The Beagle Hammock Large	Inventory	Mookie The Beagle Pet Hammock Large	$ 1,000	$ 400
Pet Wellness Supplies	E-Collar Cone	Inventory	E-Collar Cone Adjustable (Fits Various Size Doggie Necks for Wound Healing)	$ 100	$ 32
Pet Wellness Supplies	Activated Charcoal	Inventory	Activated Charcoal for Suspected Poisoning	$ 72	$ 20
Pet Wellness Supplies	Gauze Bandages	Inventory	Gauze Bandages for Wound Dressing	$ 48	$ 12
Pet Wellness Supplies	Sterile Wipes	Inventory	Sterile Wipes for Wound Cleaning	$ 60	$ 16
Pet Wellness Supplies	Oral Syringes	Inventory	Oral Syringes for Medication Administration (10 pack)	$ 40	$ 8
Pet Wellness Supplies	Sterile Latex Gloves	Inventory	Sterile Latex Gloves (50 pack)	$ 144	$ 44

Export the Products and Services List.

1. From the Products and Services List screen, select More > Run Report
2. To sort the Products and Services List, select Sort > Sort by: Type > Sort in: Ascending order. Service items should at the top of the Products and Services List followed by Inventory items.
3. Select Export drop-down arrow > Export to Excel > complete the steps listed in the Instructions sheet of the Excel Template to copy your General Ledger Excel export to the Excel Template

4.Answer the following questions about the Mookie The Beagle Concierge Product and Services List you created.

1. How many Inventory items are listed in your MTB Concierge Products and Services List?
2. How many categories of Inventory items are listed in your MTB Concierge Products and Services List?

a. Number of items
b. Number of categories

Complete the following Mookie The Beagle Concierge Purchase Order to order Mookie The Beagle hammocks.

Required:

1. Add a new Vendor to the Vendors List.
2. From the Navigation Bar, select Expenses > Vendors tab
3. Select New vendor
4. Enter the following vendor information.

Company Name:	Maddy's Marvels
First Name:	Maddy
Vendor Display Name:	Maddy's Marvels
Phone:	415-555-2727
Billing Address Street:	27 Aquarian Rue
Billing Address City:	Bayshore
Billing Address State:	CA
Billing Address ZIP:	94326
Billing Address Country:	USA

1. Select Save
2. Create Purchase Order.
3. Select (+) New icon > Purchase Order
4. Select Vendor: Maddy's Marvels
5. Select Purchase Order Date: 01/18/2024
6. Verify Shipping Address: Mookie The Beagle Concierge, 432 Phoenician Way, Mountain View, CA 94043
7. Select Item Details Line 1: Product or Service: Pet Hammocks: Mookie The Beagle Hammock Small
8. Enter Quantity: 2
9. Rate and Amount fields should autofill
10. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 1?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Enter Purchase Order Line 2.
2. Select Item Details Line 2: Product or Service: Pet Hammocks: Mookie The Beagle Hammock Medium
3. Enter Quantity: 3
4. Rate and Amount fields should autofill
5. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 2?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Enter Purchase Order Line 3.
2. Select Item Details Line 3: Product or Service: Pet Hammocks: Mookie The Beagle Hammock Large
3. Enter Quantity: 1
4. Rate and Amount fields should autofill
5. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 3?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Total Purchase Order.
2. What is the Total Amount for the Purchase Order?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select Save and close

a.What is the Total Amount for the Purchase Order?

Complete the following Mookie The Beagle Concierge Purchase Order to order Mookie The Beagle Concierge pet wellness inventory.

Required:

1. Add a new Vendor to the Vendors List.
2. From the Navigation Bar, select Expenses > Vendors tab
3. Select New vendor
4. Enter the following vendor information.

Company Name:	Napoleon Pet Supply
Phone:	415-555-8866
Billing Address Street:	86 Tron Boulevard
Billing Address City:	Bayshore
Billing Address State:	CA
Billing Address ZIP:	94326
Billing Address Country:	USA

1. Select Save
2. Create Purchase Order.
3. Select (+) New icon > Purchase Order
4. Select Vendor: Napoleon Pet Supply
5. Select Purchase Order Date: 01/18/2024
6. Select Item Details Line 1: Product or Service: Pet Wellness Supplies: E-Collar Cone
7. Enter Quantity: 1
8. Rate and Amount fields should autofill
9. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 1?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Enter Purchase Order Line 2.
2. Select Item Details Line 2: Product or Service: Pet Wellness Supplies: Activated Charcoal
3. Enter Quantity: 5
4. Rate and Amount fields should autofill
5. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 2?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Enter Purchase Order Line 3.
2. Select Item Details Line 3: Product or Service: Pet Wellness Supplies: Gauze Bandages
3. Enter Quantity: 4
4. Rate and Amount fields should autofill
5. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 3?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Enter Purchase Order Line 4.
2. Select Item Details Line 4: Product or Service: Pet Wellness Supplies: Sterile Wipes
3. Enter Quantity: 6
4. Rate and Amount fields should autofill
5. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 4?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Enter Purchase Order Line 5.
2. Select Item Details Line 4: Product or Service: Pet Wellness Supplies: Oral Syringes
3. Enter Quantity: 2
4. Rate and Amount fields should autofill
5. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 5?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Enter Purchase Order Line 6.
2. Select Item Details Line 4: Product or Service: Pet Wellness Supplies: Sterile Latex Gloves
3. Enter Quantity: 6
4. Rate and Amount fields should autofill
5. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 6?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Total Purchase Order.
2. What is the Total Amount for the Purchase Order?

Complete the following Purchase Order to order Mookie The Beagle Bon Appetite Organic Dog Food.

Required:

1. Update Vendor information in the Vendors List.
2. From the Navigation Bar, select Expenses > Vendors tab
3. Select Vendor: Only The Best Dog Food
4. Update the following vendor information.

Company Name:	Only The Best Dog Food
Phone:	415-555-6354
Billing Address Street:	91 Elsker Avenue
Billing Address City:	Bayshore
Billing Address State:	CA
Billing Address ZIP:	94326
Billing Address Country:	USA

1. Select Save
2. Create Purchase Order.
3. Select (+) New icon > Purchase Order
4. Select Vendor: Only The Best Dog Food
5. Select Purchase Order Date: 01/18/2024
6. Select Item Details Line 1: Product or Service: Pet Food Supplies: Mookie The Beagle Bon Appetite Organic Dog Food
7. Enter Quantity: 10
8. Rate and Amount fields should autofill
9. What is the Rate that autofills?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount for Line 1?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Total Purchase Order.
2. What is the Total Amount for the Purchase Order?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select Save and close

Complete the following to record a bill received for the Mookie The Beagle Dog Hammocks ordered.

Required:

1. Create Bill.
2. Select (+) New icon > Bill
3. Select Vendor: Maddy's Marvels
4. Select Bill Date: 01/21/2024
5. The Purchase Order entered previously should appear in the Add to Bill drawer on the right side of the screen. Select Add to add the Purchase Order to the bill. Item Details should now show the items from the Purchase Order.
6. What is the Total for the Bill?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select Save

1. View the Transaction Journal for the Bill.
2. From the bottom of the Bill, select More > Transaction Journal
3. What are the Accounts and Amounts Debited?

Note: Answer this question in the table shown below. Round your answers to 2 decimal places.

1. What are the Account and Amount Credited?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

Complete the following to record a bill received for the Mookie The Beagle Concierge pet wellness supplies ordered.

Required:

Create Bill.

1. Select (+) New icon > Bill
2. Select Vendor: Napoleon Pet Supply
3. Select Bill Date: 01/23/2024
4. The Purchase Order entered previously should appear in the Add to Bill drawer. Select Add to add the Purchase Order to the bill. Item Details should now show the items from the Purchase Order.
5. What is the Total for the Bill?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select Save

1. View the Transaction Journal for the Bill.
2. From the bottom of the Bill, select More > Transaction Journal
3. What are the Accounts and Amounts Debited?

Note: Answer this question in the table shown below. Round your answers to 2 decimal places.

1. What are the Account and Amount Credited?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

Complete the following to record a bill received for the Mookie The Beagle Organic Dog Food ordered.

Required:

1. Create Bill.
2. Select (+) New icon > Bill
3. Select Vendor: Only the Best Dog Food
4. Select Bill Date: 01/23/2024
5. The Purchase Order entered previously should appear in the Add to Bill drawer. Before adding, if the Bill autofilled with prior bill Item Details, select the trash can to delete the prior bill Item Details. Then select Add to add the Purchase Order to the bill. Item Details should now show the items from the Purchase Order.
6. What is the Total for the Bill?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select Save

1. View the Transaction Journal for the Bill.
2. From the bottom of the Bill, select More > Transaction Journal
3. What are the Account and Amount Debited?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What are the Account and Amount Credited?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

Complete the following to pay Mookie The Beagle Concierge bills.

Required:

1. Pay Bills.
2. Select (+) New icon > Pay Bills
3. Select Payment Account: 1001 Checking
4. Select Payment Date: 01/24/2024
5. Select Payee: Maddy's Marvels
6. Select Payee: Only the Best Dog Food
7. What is the Total Payment Amount?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select Save and close

1. View the Transaction Journal for Pay Bills.
2. From the Navigation Bar, select Expenses > Expenses tab
3. From the Expense Transactions List, select Bill Payment to Maddy's Marvels
4. From the bottom of Maddy's Marvels Bill Payment, select More > Transaction Journal
5. What are the Account and Amount Debited?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What are the Account and Amount Credited?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

Complete the following to record the sale of a Mookie The Beagle Dog Hammock to Sandy Copper for Remy, her rescue dog.

Required:

1. Create Invoice.
2. If the Invoice does not automatically appear on your screen, select (+) New icon > Invoice
3. Select Customer: Sandy Copper: Remy
4. Select Invoice Date: 01/25/2024
5. Select Item Details Line 1: Product or Service: Pet Hammocks: Mookie The Beagle Hammock Medium
6. Enter Quantity: 1
7. Rate and Amount fields should autofill
8. What is the Amount?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select the Tax checkbox for the line item
2. Select Sales Tax Rate 9%
3. What is the Total for the Invoice?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select Save and leave the Invoice displayed

1. View the Transaction Journal for the Invoice.
2. From the bottom of the Invoice, select More > Transaction Journal
3. What are the Accounts and Amounts Debited?

Note: Answer this question in the table shown below. Round your answers to 2 decimal places.

1. What are the Accounts and Amounts Credited?

Note: Answer this question in the table shown below. Round your answers to 2 decimal places.

While your pet Goldendoodle, Ozzie, is recovering from being bitten by another dog, Ozzie needs home care. So you order the following products and services using the Mookie The Beagle Concierge app.

• 1 Mookie The Beagle Dog Hammock Medium
• 1 Mookie The Beagle E-Collar Cone
• 3 Gauze Bandages
• 2 Sterile Wipes
• 1 Oral Syringes (10 pack)
• 1 Sterile Latex Gloves (50 pack)
• 1 Pet Care Errand Service (to deliver the Mookie The Beagle Concierge supplies ordered)
• 2 Pet Wellness Medium Wellness Service (to administer medication and change wound dressings)

Required:

1. Create Invoice.
2. Select (+) New icon > Invoice
3. Select Customer: Your Name: Ozzie
4. Select Invoice Date: 01/26/2024
5. Select Item Details Line 1: Product or Service: Pet Hammocks: Mookie The Beagle Hammock Medium
6. Enter Quantity: 1
7. Rate and Amount fields should autofill
8. What is the Amount on Line 1?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select the Tax checkbox for the line item
2. Select Tax Rate: 9%

Carlos Xafra used the Mookie The Beagle Concierge app to purchase the following products and services for his pet Golden Retriever, Bella, when Carlos was detained for longer than planned working on a client cybersecurity project gone awry.

• 1 Mookie The Beagle Dog Hammock Large
• 2 bags of Mookie The Beagle Bon Appetite Organic Dog Food
• 1 Pet Care Errand Service (to deliver the Mookie The Beagle Concierge supplies ordered)
• 2 Pet Care Short Visit Service (to feed and take Bella on a couple of short walks)

Complete the following for Mookie The Beagle Concierge to record an Invoice.

Required:

1. Update Customer information in the Customers List.
2. From the Navigation Bar, select Sales > Customers tab
3. Select Customer: Carlos Xafra
4. Enter the following updated customer information.

Phone

415-555-9999

1. Select Save
2. Create Invoice and Enter Products Sold.
3. Select (+) New icon > Invoice
4. Select Customer: Carlos Xafra: Bella
5. Select Invoice Date: 01/28/2024
6. Select Item Details Line 1: Product or Service: Pet Hammocks: Mookie The Beagle Hammock Large
7. Enter Quantity: 1
8. Rate and Amount fields should autofill
9. What is the Amount for Line 1?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select the Tax checkbox for the line item
2. Select Item Details Line 2: Product or Service: Pet Food Supplies: Mookie Bon Appetite Organic Dog Food
3. Enter Quantity: 2
4. Rate and Amount fields should autofill
5. What is the Amount for Line 2?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select the Tax checkbox for the line item
2. Select Save and leave the Invoice displayed

Complete the following to record a customer payment from Carlos Xafra.

Required:

1. Create Receive Payment.
2. Select (+) New icon > Receive Payment
3. Select Customer: Carlos Xafra: Bella
4. Select Payment Date: 01/30/2024
5. Select Payment Method: Credit Card
6. Select Deposit to: 1001 Checking
7. Select the Carlos Xafra: Bella Invoice just entered
8. What is the Amount Received?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select Save and close

1. View the Transaction Journal for Receive Payments.
2. From the Navigation Bar, select Sales > All Sales tab
3. From the Sales Transactions List, select Carlos Xafra: Bella Payment just entered
4. From the bottom of Receive Payment, select More > Transaction Journal
5. What are the Account and Amount Debited?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What are the Account and Amount Credited?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

There was an error when delivering the order for Bella's dog food. Carlos Xafra received only one bag of dog food instead of the two bags he was billed for. Complete the following to record a refund receipt to Carlos Xafra for the extra bag of dog food that he did not receive.

Required:

1. Create Refund Receipt.
2. Select (+) New icon > Refund Receipt
3. Select Customer: Carlos Xafra: Bella
4. Select Refund Receipt Date: 01/31/2024
5. Select Payment Method: Credit Card
6. Select Refund from: 1001 Checking
7. Select Product or Service: Mookie The Beagle Bon Appetite Organic Dog Food
8. Select the Tax checkbox for the line item > select Tax Rate: 9%
9. What is the Subtotal of the Refund Receipt?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. What is the Total Amount Refunded?

Note: Answer this question in the table shown below. Round your answer to 2 decimal places.

1. Select Save and close

1. View the Transaction Journal for Receive Payments.
2. From the Navigation Bar, select Sales > All Sales tab
3. From the Sales Transactions List, select Carlos Xafra: Bella Refund just entered
4. From the bottom of Refund Receipt, select More > Transaction Journal
5. What are the Account and Amount Debited?

Note: Answer this question in the table shown below. Round your answers to 2 decimal places.

1. What are the Account and Amount Credited?

Note: Answer this question in the table shown below. Round your answers to 2 decimal places.

Required:

To prepare the General Ledger for Mookie The Beagle Concierge at January 31, 2024:

1. From the Navigation Bar, select Reports
2. Select Custom reports tab
3. Under the Quick Check reports category, select General Ledger
4. Select Report Period: 01/01/2024 To 01/31/2024
5. Select Run report
6. Export the General Ledger to Excel.
   1. With the General Ledger report displayed, select the Export icon
   2. Select Export to Excel
   3. Complete the steps listed in the Instructions sheet of the Excel Template to copy your General Ledger Excel export to the Excel Template.
7. What is the ending balance of the Checking account?

Note: Answer this question in the table shown below. Round your answer 2 decimal places.

1. What is the ending balance of the Accounts Receivable account?

Note: Answer this question in the table shown below. Round your answer 2 decimal places.

1. What is the ending balance of the Inventory account?

Note: Answer this question in the table shown below. Round your answer 2 decimal places.

1. What is the ending balance of the Accounts Payable account?

Note: Answer this question in the table shown below. Round your answer 2 decimal places.

What is the ending balance of the VISA Credit Card account?

Note: Answer this question in the table shown below. Round your answer 2 decimal places.

What is the ending balance of the California Department of Tax and Fee Administration Payable account?

Note: Answer this question in the table shown below. Round your answer 2 decimal places.

What is the ending balance of the Sales account?

Note: Answer this question in the table shown below. Round your answer 2 decimal places.

What is the ending balance of the Sales of Product Income account?

Note: Answer this question in the table shown below. Round your answer 2 decimal places.

What is the ending balance of the Cost of Goods Sold account?

Note: Answer this question in the table shown below. Round your answer 2 decimal places.

Answer rating: 100% (QA)

It seems like youre working on detailed financial and inventory management tasks using QuickBooks Online QBO particularly focusing on entering and managing inventory items creating purchase orders han... View the full answer