Start the QuickBooks Online test-drive. Using Craig's Design and Landscaping Services, complete all the hands-on work,...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Start the QuickBooks Online test-drive. Using Craig's Design and Landscaping Services, complete all the hands-on work, step-by-step activities presented on pages 1 to 46, and Exercises 1-1 and 1-2 on pages 47-50. To answer the questions below, use the information in QuickBooks from your Chapter 1 work. Exercises 1-1 and 1-2 Required: 1 to 3: What are the amounts for the following items? (Enter your answers with 2 decimal places.) Answer is complete but not entirely correct. Question 1. Total debits and credits - Journal 23 Amy's Bird Sanctuary - Accounts Receivable 3. Sushi by Katsuyuki-Accounts Receivable Amount $ 3,588.56 $ 891.00 43.20 $ 4 to 7: What was the debited account for the transactions relating to the following names? 4. Cool Cars Cal Telephone 6. Chin's Gas and Oil 45 5. Answer is complete but not entirely correct. 67 Question 7. Red Rock Diner Account Automobile: Fuel Checking Meals and Entertainment Travel Meals X 4. Enter the following transactions. Use your current date and year. Sold 3 rock fountains on account to the customer, Amy's Bird Sanctuary, $825 plus 8% sales tax, total $891. (If a Hi Craig! page appears, click on the left arrow to return to the Dashboard.) . • Sold 20 sprinkler heads on account to the customer, Sushi by Katsuyuki, $40 plus 8% sales tax; total $43.20. (Hint: For sales tax. select California.) . . • Completed 3 hours of custom design work for Cool Cars; received $225. (Hint: Payment method, Check; Deposit to, Checking: Product/Service, Design: No sales tax.) • Completed 10 hours of custom design work on account for the customer, John Melton, $750. . > Sales Receipt. Completed 4 hours of installation of landscape design for Kookies by Kathy; received $200. (Hint: Payment method, Check; Deposit to, Checking: Product/Service, Installation; no sales tax charged for installation.) Received a bill from Lee Advertising, $250, for local paper advertising. Received a bill from Cal Telephone for $56.50, for telephone expense. Received a bill from PG&E for $86.44, for utilities (gas and electric) expense. Received a bill from Hall Properties for $900, for building lease. . • Issued Check No. 71 from the Checking account to Chin's Gas and Oil, $48.05, for Automobile:Fuel. (Hint: In the Category field, select Automobile:Fuel. Type the Amount, $48.05. Since you restarted the sample company, the default check number is 71.) . . . . • Issued Check No. 72 to Ellis Equipment Rental, from the Checking account, $115, for equipment rental expense. (Hint: In the Category field, select Equipment Rental, an Expenses account.) • Issued Check No. 73 to Red Rock Diner, from the Checking account, for $23.37, for Meals and Entertainment. . Check Your Figures: Checking Accounts Receivable Accounts Payable. Design Income Advertising 1,439.58 6,965.72 2,895.61 3,225.00 324.86 Start the QuickBooks Online test-drive. Using Craig's Design and Landscaping Services, complete all the hands-on work, step-by-step activities presented on pages 1 to 46, and Exercises 1-1 and 1-2 on pages 47-50. To answer the questions below, use the information in QuickBooks from your Chapter 1 work. Exercises 1-1 and 1-2 Required: 1 to 3: What are the amounts for the following items? (Enter your answers with 2 decimal places.) Answer is complete but not entirely correct. Question 1. Total debits and credits - Journal 23 Amy's Bird Sanctuary - Accounts Receivable 3. Sushi by Katsuyuki-Accounts Receivable Amount $ 3,588.56 $ 891.00 43.20 $ 4 to 7: What was the debited account for the transactions relating to the following names? 4. Cool Cars Cal Telephone 6. Chin's Gas and Oil 45 5. Answer is complete but not entirely correct. 67 Question 7. Red Rock Diner Account Automobile: Fuel Checking Meals and Entertainment Travel Meals X 4. Enter the following transactions. Use your current date and year. Sold 3 rock fountains on account to the customer, Amy's Bird Sanctuary, $825 plus 8% sales tax, total $891. (If a Hi Craig! page appears, click on the left arrow to return to the Dashboard.) . • Sold 20 sprinkler heads on account to the customer, Sushi by Katsuyuki, $40 plus 8% sales tax; total $43.20. (Hint: For sales tax. select California.) . . • Completed 3 hours of custom design work for Cool Cars; received $225. (Hint: Payment method, Check; Deposit to, Checking: Product/Service, Design: No sales tax.) • Completed 10 hours of custom design work on account for the customer, John Melton, $750. . > Sales Receipt. Completed 4 hours of installation of landscape design for Kookies by Kathy; received $200. (Hint: Payment method, Check; Deposit to, Checking: Product/Service, Installation; no sales tax charged for installation.) Received a bill from Lee Advertising, $250, for local paper advertising. Received a bill from Cal Telephone for $56.50, for telephone expense. Received a bill from PG&E for $86.44, for utilities (gas and electric) expense. Received a bill from Hall Properties for $900, for building lease. . • Issued Check No. 71 from the Checking account to Chin's Gas and Oil, $48.05, for Automobile:Fuel. (Hint: In the Category field, select Automobile:Fuel. Type the Amount, $48.05. Since you restarted the sample company, the default check number is 71.) . . . . • Issued Check No. 72 to Ellis Equipment Rental, from the Checking account, $115, for equipment rental expense. (Hint: In the Category field, select Equipment Rental, an Expenses account.) • Issued Check No. 73 to Red Rock Diner, from the Checking account, for $23.37, for Meals and Entertainment. . Check Your Figures: Checking Accounts Receivable Accounts Payable. Design Income Advertising 1,439.58 6,965.72 2,895.61 3,225.00 324.86
Expert Answer:
Answer rating: 100% (QA)
To determine the total debits and credits lets record the provided transactions and calculate the amounts Question Amount 1 Total debits and Journal 339756 2 Amys Bird Sanctuary Accounts Receivable 89... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these physics questions
-
The debits and credits from two transactions are presented in the following customer account: Describe each transaction and the source of eachposting. NAME Signal Communications Inc. ADDRESS 76Oak...
-
The debits and credits from two transactions are presented in the following customer account: Describe each transaction and the source of eachposting. NAME Mobility Products inc. ADDRESS 46 W Main St...
-
The debits and credits from two transactions are presented in the following suppliers (creditors) account: Describe each transaction and the source of eachposting. NAME Newton Computer Services Inc....
-
Vito Co.'s next dividend is expected to be $4.50. Dividend growth is estimated at 20%, 15%, 8% for the following three years, and then stabilize to 2%. How much are you willing to pay to buy one...
-
Below are ten independent risk factors: 1. The client lacks sufficient working capital to continue operations. 2. The client fails to detect employee theft of inventory from the warehouse because...
-
Vargo Company makes two distinct products with the following information available for each. The companys direct labor rate is $20 per direct labor hour (DLH). Additional information follows....
-
Describe how insurance uses different risk management methods to reduce risk.
-
Issues raised about Investment Securities you have just started work for Warren Co. as part of the controllers group involved in current financial reporting problems. Jane Hens haw, controller for...
-
determinathe value of p if A(-3;p) is equidistant from the points C(7;-1) and D (4;-4) 2 answers
-
Review the section on common signs of a fraudster (page 2700.100.07). Briefly outline (separately) why ANY FIVE of the signs could be a "warning sign" of a possible fraudster. Also list any types of...
-
Provide the missing data in the following table for a distributor of martial arts products: (Round "Turnover" and "ROI" answers to 1 decimal place.) Alpha Division Bravo Division Charlie Division...
-
Sampling for attributes is often used to allow an auditor to reach a conclusion concerning a rate of occurrence in a population. A common use in auditing is to test the rate of deviation from a...
-
A CPA's audit working papers include the narrative description below of the cash receipts and billing portions of the internal control of Parktown Medical Center, Inc. Parktown is a small health care...
-
Select the best answer for each of the following questions. Explain the reasons for your selection. a. When erroneous data are detected by computer program controls, data may be excluded from...
-
Johnson, CPA, was engaged to audit the financial statements of Horizon Incorporated, which has its own computer installation. While obtaining an understanding of internal control, Johnson found that...
-
Robert Rotter, CPA, is considering the use of a mean-per-unit estimation sampling plan. Explain the factors that Rotter would consider in determining: a. The acceptable risk of incorrect rejection....
-
Solve a Problem Mike's Bikes makes and sells high-quality replacement gears for mountain bikes. Mike Speedway, controller, is responsible for preparing the master budget and has assembled the...
-
1. True or False. Pitfalls to consider in a statistical test include nonrandom samples, small sample size, and lack of causal links. 2. Because 25 percent of the students in my morning statistics...
-
How are qualified dividends taxed in 2012? Please give the two rates of tax which apply to qualified dividends, and specify when each of these rates applies._________________________...
-
Steve Drake sells a rental house on January 1, 2012, and receives $130,000 cash and a note for $55,000 at 10 percent interest. The purchaser also assumes the mortgage on the property of $45,000....
-
Greg died on July 1, 2012, and left Lea, his wife, a $50,000 life insurance policy which she elects to receive at $5,000 per year plus interest for 10 years. In the current year, Lea receives $6,200....
-
Comparative financial statements for the Rahul Corporation for the year ended December 31 are given below. A total of 500,000 shares of stock were outstanding. The market value of the company's stock...
-
Refer to the data in Exercise 13-15. Compute the following financial ratios for the year 2009: Data From Exercise 13-15 Comparative financial statements for the Rahul Corporation for the year ended...
-
Simply Spa Collections had a current ratio of 2.5 to 1 on December 31 of the current year. On that date, the companys assets were as follows: Required a. What was the company's current ratio on...
Study smarter with the SolutionInn App