ACC417-Sage 50 Assignment #1 Fall 2022 Chapter 10-Kara's Kitchens - Using Sage50 Accounting 2021textbookversion, M Purbhoo, Pearson You should already know from your prior course how to use the Sage502021softwareAccounting program and how to use your textbook to complete these cases and to enter new types of transactions. As usual, you should review the company information in the text before beginning this case for any special company procedures you may need to know. Be sure and note the special instructions below - some will bespecific to our class section. - Record only the first 22 transactions (up to and including Aug 14) - Do NOT record transactions #23 - #34.Many marks will be deducted if these are in your file, even if you entered them and subsequently deleted or reversed them - Personalize your assignmentby adding the extra information as noted below You are required to personalize your assignmentby 1. Adding your name to the company name so all your reports say "Karaskitchens - your name" at the top 2. For the transactions below: add to field indicated your initials + the last 3 dieits of vour student numhor For example: if your name is Peter Alpaugh, [PA] and your student number is 123-156-789, [789] then: The Invoice number entered fortransaction #3 on Aug 2 noted above will beKC-884-PA-789 [initials =1st letter of first name +1st letter of last namel If your submission showsany of these transactions processed without your initials and numberor if those were "corrected" by inserting the information after initial entry, 20% will be deducted for each missing item. Please backup your work often.Keep past backups named sequentially. If you lose your file you won't have to restart. (If you use Seneca Virtual Commons be sure to backup to your Onedriveor home computer. [not just Seneca computer]) Required submissions: On or before the due date Upload to Blackboard 2 files(not a zip file) - "backup" file of final Sage data+Excel file with your reports. In Blackboard choose the menu item that says "Sage 50 Assignment submission files upload here". 1. Reports - as separate worksheets in a singleExcel workbook file(use "Reports", not "Report Center") a) TB: Trial balance - Aug31, (must be Aug31 -even though we did not enter items after Aug 14) For example: if your name is Peter Alpaugh, [PA] and your student number is 123-156-789, [789] then: The Invoice number entered fortransaction #3 on Aug 2 noted above will beKC-884-PA-789 [initials =115 letter of first name +1st letter of last namel "corrected" by inserting the information after initial entry, 20% will be deducted for each missing item. Please backup your work often.Keep past backups named sequentially. If you lose your file you won't have to restart. (If you - use Seneca Virtual Commons be sure to backup to your Onedriveor home computer. [not just Seneca computer]) Required submissions: On or before the due date Upload to Blackboard 2 files(not a zip file) - "backup" file of final Sage data+Excel file with your reports. In Blackboard choose the menu item that says "Sage 50 Assignment submission files upload here". 1. Reports - as separate worksheets in a singleExcel workbook file(use "Reports", not "Report Center") a) TB: Trial balance - Aug 31 , (must be.Aug31 -even though we did not enter items after Aug 14) Choose "Hide accounts with zero balances". Otherwise use default options. b) GL: General Ledgeraccount #1540 Refrigerators only- Aug 1 to Aug31 (must sayAug31)with corrections c) JE: All journal entries - Aug 1-31, date order, with corrections There will be a 40% deduction if your Journal entry report is notdone with "include corrections" d) Products: Retail Reports Product Analysis- Top 20\% [change to 100\%] - Summary version - Aug 1-31 e) Type answers to these questions (in a separate Excel worksheet in this single Excel file/workbook) 1) Which product had the most sales \$? [eg.R110Gas Cooktop 5 Burnerw/grill\$12,342] 2) What is the company's Average Days Sales in Inventory based on the period you recorded? Show Beginning Inventory, Ending Inventory, Average Inventory, COGS, Turnover, Average Days Sales in Inventory Name your Excel reports file "Acc417-Karas-yourfirstname.yourlastname.x|s" (or.x|sx) 2. "Backup" file of your finalSage data file[using Sage50 2021software version] Name your Sage50 backupfile "Acc417-Karas-yourfirstname.yourlastnaine.CAB" If the journal entries in your backup file do not match your printouts you may be awarded a mark of " 0 "! Due Date - as specified in class due dates list on Blackboard (approximately Week 6 - Fall 2022). Generally late assignments cannot be accepted. Some special situations may be able to mark out of 50%. ACC417-Sage 50 Assignment #1 Fall 2022 Chapter 10-Kara's Kitchens - Using Sage50 Accounting 2021textbookversion, M Purbhoo, Pearson You should already know from your prior course how to use the Sage502021softwareAccounting program and how to use your textbook to complete these cases and to enter new types of transactions. As usual, you should review the company information in the text before beginning this case for any special company procedures you may need to know. Be sure and note the special instructions below - some will bespecific to our class section. - Record only the first 22 transactions (up to and including Aug 14) - Do NOT record transactions #23 - #34.Many marks will be deducted if these are in your file, even if you entered them and subsequently deleted or reversed them - Personalize your assignmentby adding the extra information as noted below You are required to personalize your assignmentby 1. Adding your name to the company name so all your reports say "Karaskitchens - your name" at the top 2. For the transactions below: add to field indicated your initials + the last 3 dieits of vour student numhor For example: if your name is Peter Alpaugh, [PA] and your student number is 123-156-789, [789] then: The Invoice number entered fortransaction #3 on Aug 2 noted above will beKC-884-PA-789 [initials =1st letter of first name +1st letter of last namel If your submission showsany of these transactions processed without your initials and numberor if those were "corrected" by inserting the information after initial entry, 20% will be deducted for each missing item. Please backup your work often.Keep past backups named sequentially. If you lose your file you won't have to restart. (If you use Seneca Virtual Commons be sure to backup to your Onedriveor home computer. [not just Seneca computer]) Required submissions: On or before the due date Upload to Blackboard 2 files(not a zip file) - "backup" file of final Sage data+Excel file with your reports. In Blackboard choose the menu item that says "Sage 50 Assignment submission files upload here". 1. Reports - as separate worksheets in a singleExcel workbook file(use "Reports", not "Report Center") a) TB: Trial balance - Aug31, (must be Aug31 -even though we did not enter items after Aug 14) For example: if your name is Peter Alpaugh, [PA] and your student number is 123-156-789, [789] then: The Invoice number entered fortransaction #3 on Aug 2 noted above will beKC-884-PA-789 [initials =115 letter of first name +1st letter of last namel "corrected" by inserting the information after initial entry, 20% will be deducted for each missing item. Please backup your work often.Keep past backups named sequentially. If you lose your file you won't have to restart. (If you - use Seneca Virtual Commons be sure to backup to your Onedriveor home computer. [not just Seneca computer]) Required submissions: On or before the due date Upload to Blackboard 2 files(not a zip file) - "backup" file of final Sage data+Excel file with your reports. In Blackboard choose the menu item that says "Sage 50 Assignment submission files upload here". 1. Reports - as separate worksheets in a singleExcel workbook file(use "Reports", not "Report Center") a) TB: Trial balance - Aug 31 , (must be.Aug31 -even though we did not enter items after Aug 14) Choose "Hide accounts with zero balances". Otherwise use default options. b) GL: General Ledgeraccount #1540 Refrigerators only- Aug 1 to Aug31 (must sayAug31)with corrections c) JE: All journal entries - Aug 1-31, date order, with corrections There will be a 40% deduction if your Journal entry report is notdone with "include corrections" d) Products: Retail Reports Product Analysis- Top 20\% [change to 100\%] - Summary version - Aug 1-31 e) Type answers to these questions (in a separate Excel worksheet in this single Excel file/workbook) 1) Which product had the most sales \$? [eg.R110Gas Cooktop 5 Burnerw/grill\$12,342] 2) What is the company's Average Days Sales in Inventory based on the period you recorded? Show Beginning Inventory, Ending Inventory, Average Inventory, COGS, Turnover, Average Days Sales in Inventory Name your Excel reports file "Acc417-Karas-yourfirstname.yourlastname.x|s" (or.x|sx) 2. "Backup" file of your finalSage data file[using Sage50 2021software version] Name your Sage50 backupfile "Acc417-Karas-yourfirstname.yourlastnaine.CAB" If the journal entries in your backup file do not match your printouts you may be awarded a mark of " 0 "! Due Date - as specified in class due dates list on Blackboard (approximately Week 6 - Fall 2022). Generally late assignments cannot be accepted. Some special situations may be able to mark out of 50%