and submit in eClass Bob Brown owns Bob Brown Appliance Repair Company (BBARC) which has been in business over the past five years in the Greater Toronto Area (GTA). The business is very successful, Mary (Bob's wife) is the accountant, she pays the bills, works with the manufacturers, receives shipments of warranty and other parts from manufacturers, answers Web Site inquires for services calls and helps with the business wherever possible, but she cannot do repairs. Business: Over eighty percent of the business is servicing manufacturer's warranties for LG, Samsung, and Kitchen Aid. During the day, Mary gets emails from these manufactures of the service calls for the next day, with a brief description of the problem and then places these calls into a route around the city so that Bob doesn't have to drive all over the city for the repairs for the day, this is to keep costs down and be able to do more service calls. The summer months are the busiest months for repairs since the full-time service staff that work for the Manufacturers take their vacations. First thing in the morning Mary calls the customers to make sure that they will be home in the four-hour window for Bob to fix their appliances. When warranty work is completed for each manufacturer's customer the material used and labour is recorded on the laptop in the truck after each call to the manufacturer thus closing the repair, and this information is added to the ongoing weekly bill that will be paid to BBARC the following Friday (next week) for this work completed. Parts and supplies used for these service calls are delivered directly to BBARC the next day to replenish manufacturers inventory that BBARC has on hand for their service calls (Note that this is manufacturers consignment inventory, BBARC only gets paid for the service call). During the day Bob can get calls directly from the manufacturer for emergency repairs which must be complete by the end Business: Over eighty percent of the business is servicing manufacturer's warranties for LG, Samsung, and Kitchen Aid. During the day, Mary gets emails from these manufactures of the service calls for the next day, with a brief description of the problem and then places these calls into a route around the city so that Bob doesn't have to drive all over the city for the repairs for the day, this is to keep costs down and be able to do more service calls. The summer months are the busiest months for repairs since the full-time service staff that work for the Manufacturers take their vacations. First thing in the morning Mary calls the customers to make sure that they will be home in the four-hour window for Bob to fix their appliances. When warranty work is completed for each manufacturer's customer the material used and labour is recorded on the laptop in the truck after each call to the manufacturer thus closing the repair, and this information is added to the ongoing weekly bill that will be paid to BBARC the following Friday (next week) for this work completed. Parts and supplies used for these service calls are delivered directly to BBARC the next day to replenish the manufacturers inventory that BBARC has on hand for their service calls (Note that this is manufacturers consignment inventory, BBARC only gets paid for the service call). During the day Bob can get calls directly from the manufacturer for emergency repairs which must be complete by the end of the day, and of course gets a premium (bonus of $1X0.00 per call, where X is equal to your last digit of your student number-if your student number end in "2" then the premium is $120.00) for these repairs. BBARC has regular customers that call and send messages from the Website, they pay with Debit or with Credit cards for the service call, and they are billed for parts used (these are not covered by manufacturer's warranties). The bank deposits the amounts of all these services into BBARC bank Cash account at the end of the week (on Saturdays). BBARC has a small inventory of older parts that are still being used. BBARC wants to bring it down to almost zero because appliances are getting more electronic, and the older parts are becoming obsolete. Bob gets new supplies and parts from a third-party appliance supplier and has a corporate account, the supplier emails BBARC at the end of the week the amount owing, and Mary does an electronic transfer before the next business day of the full amount owing. These are the cost of goods for these customers' business. As you can see Bob can be very busy sometimes working over 14-15 hours some days. When the business started Bob and Mary asked you to help create their manual accounting system, answer questions from time to time and do their Year End and taxes for the business. The accounting system is simple, and very basic, recording Journal entries, use of T accounts, creating Trail Balances, Income Statement, and at the end of each month a Balance Sheet (year to date). Mary has a policy of whenever possible having an Accounts Payable balance of zero at the end of the month except for wages payable every two weeks. She likes to pay the bills before their due dates, many times in the last week of the month. Bob and Mary take out a very small salary of $800.00 each per week (every weekday Bob earns $160 and Mary another $160, there are no wages accrued during weekend days - wages expense for June were $7,040 because there were 22 weekdays in the month). At the end of the calendar year once the ending balance of Retained Earnings has been set, Bob and Mary have up to 12 months to declare and pay dividends to themselves. Savad wages expense for June were $7,040 because there were 22 weekdays in the month). At the end of the calendar year once the ending balance of Retained Earnings has been set, Bob and Mary have up to 12 months to declare and pay dividends to themselves. The emergency (Problem - opportunity) Mary's sister had their first baby and wanted to go to Vancouver the following week to help her. Since you work from home and live next-door, Mary asked if you could just do the books part time for the last week of the month when she is in Vancouver. BBARC will pay you an accounting fee of $600.00 for your work. You agreed to work between July 22nd and 31st until Mary gets back. Mary has completed all journal entries for the first three weeks of July and supplied you with a list of accruals, and payments that must be made for the end of July. Since you are very familiar with the accounts and the set-up, Mary believes you can handle all the monthly adjusting journal entries. Bob will make all the deposits received and will sign all the cheques and make all electronic payments that must be made during Mary's absence. For the work that Rob de A 2.