Does anyone have the solution to the "Systems Understanding Aid" 10th Edition? Transaction List A. I'm lost on how I am supposed to be doing these.

Document No. 1 Transactions List December 16-31, 2022 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions and Flowcharts book (step 5. Remember the importance of the flowcharts on pages 18-24 for details as to (a) documents to prepare approvals and other internal control procedures (d) accounting entries, and (d) fling. You are to perform the roles of Ray Kramer, Nancy Ford, and Jirn Adams. Flowchart page references are included in the third column of the transactions list where appropriate Some of the following events require the preparation or modification of documents and some do not Although documents accompany most business transactions, you are asked to prepare and work with only a representative sample in this project. Each event on the transactions list includes one of two symbols, which determine whether documents from the document set in this project must be prepared or used: Yes You are required to prepare or modify documents from the document set for this event. An accounting entry may or may not be required. No You are not required to prepare or modity documents from the document set because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exception: annual change in employee pay rates. PLY Hints are provided in boxed areas like this. Trans. PLASM Dec. 1 16th Document? Flowchart Description Yes Received customer purchase order No. 53426 (Doc. No. 4) from Rosemont University, approved their credit and shipped the goods. All goods ordered were shipped, except that only 40 shoulder pad sets were available for shipment. p. 18-19 Carrier & number Allied Trucking; Carrier number 2154 Freight charges: FOB shipping point (ie, will be paid by Rosemont) Route: Express Truck & driver Truck 2961XZ, John Arens Freight rate: $37.00 per 100 lbs. Shipment: 5 cartons/goal and rim sets 42 lbs./carton 2 cartons/backboards @ 123 lbs./carton 8 cartons/shoulder pad sets 30 lbs/carton 4 cartons/football helmets 32 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction For guidance in preparing the bill of lading, see pages 35-36 of the Reference book 2 Document? Dec Flowchart Description Received an email notification from First American Bank and Trust for an ACH pay 16th Yes ment from Branch College ACH payment received was $1.622.88 for payment in full of charge sale invoice No 730. p. 21 3 16th Yes 22 Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No 328 (Doe No. 161 Units Item Description 115 BB-019 Basketball pole pad 125 B8-538 Basketball bag 75 88-431 Whistle and lanyard - set of 6 50 BB-399 Basketball net 100 FB-027 Shoulder pad set to cover back order and inventory restod Vendor address: 1285 Colgrave Ave, Pierre, 5D 57501 Freight carrier Interstate Motor Freight Freight charges FOB shipping pointe, will be paid later by Waren Allowances: None Use purchase order No. 325 (Doc. No. 16) as a guide. Use the price list Doc. No. 3). No receiving or recording occurs at this point for this transaction. File purchase order copies following the flowchart guidance. Received office supplies from Chicago Office Supply as listed on purchase order No 327(Doc No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, but the invoice was not paid. > 4 19th Yes 22 5 19th Yes p 21 Borrowed $90,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5.5%. Received an email notification from the bank that the $90,000 proceeds were electronically deposited into Waren's checking account. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. Follow the ACH deposit procedures in the flowchart and be sure to file the note in the Banking file tab. Received sales return request No. R9034 (Doc. No. 12) from Eastern Wisconsin University (EWU). The request was approved, and the acknowledgment copy mailed to EWU. 6 19th Yes P. 20 7 20th Yes You can't record the sales return yet because the goods have not yet been received from Eastern Wisconsin University. Received vendor invoice No. 105963 (Doc No. 18) from First Security Insurance for the fourth quarter's health insurance coverage for employees and immediately issued a check (Doc. No. 20) for payment in full. Purchase orders are not issued for services that Waren purchases. p.23 ) 2 Trans Dec 8 20th 9 20th Document? Flowchart Description No Increased employee pay rates effective for the December 16th-31st semnimonthly pay period. There were no changes in filing status or withholding allowances New Pay Rate NA Ray Kramer $3,700 semimonthly Jim Adams $22.00 per hour Nancy Ford $18.00 per hour No accounting entries are necessary, but you must update the pay rate history Information in the Pay Rate History Tab Received merchandise from Velocity Sporting Goods as listed on purchase order Yes No. 328. All merchandise listed on the purchase order was delivered in good condi- tion and in the quantities ordered, except that only 86 basketball pole pads tem No. BB-019) were received. The goods were placed immediately in the Inventory P.22 warehouse You can't record a purchase yet because the invoice hasn't been received. Yes Filled the backorder quantity of 35 shoulder pad sets for Rosemont University's customer purchase order No. 53426(Doc. No. 4). Approved Rosemont's credit and shipped the back ordered shoulder pad sets. Prepared a new charge sale invoice p. 18-19 (Doc No. 6) for the sale to Rosemont. Carrier & number: Allied Trucking: Carrier number 2154 Freight charges: FOB shipping pointle, will be paid by Rosemont) Route: Express Truck & driver: Truck 2988XZ, Jennifer Hansen Freight rate: $37.00 per 100 lbs. Shipment: 7 cartons/shoulder pad sets 30 lbs/carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction For guidance in preparing the bill of lading, see pages 35-36 of the Reference book Received vendor invoice No. 34719 (Doc. No. 18) from Velocity Sporting Goods for Yes goods ordered December 16th and received December 20th. 10 21st 11 22nd 22 12 23rd No Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 20th. Received legal notification from Benson, Rosenbrook, and Martinson, P.C.. attorneys at law, that Stevenson College had filed bankruptcy and will most likely be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. Remember that Waren Sports Supply uses the "Allowance method rather than "Direct write-off" for accounting for bad debts. 19 A 3 Trans. Document ? Dec. Flowchart Description Received all goods that Waren had authorized Eastern Wisconsin University (EWU) 23rd Yes to return on EWU's return request No. R8034 for credit against their account balance. 13 20 27th Yes A 21 15 27th Yes P.21 Process and record the sales return now. Received check No 49326 (Doc No. ) for $12,000 from Eastern Wisconsin University in partial payment of the remaining amount after sales return) on charge sale invoice Na 729 Restrictively endorse means to write the following on the back of the check"For deposit only. Waren Sports Supply: Cash receipts prelistis Doc. No. 9. Do not finalize a deposit slip (Doc. No. 10) until you determine whether there are other cash receipts in the form of checks on the same day. Received check No. 47852 (Doc No. 8) for $5,835 and customer purchase order No H821 (Doc. No 4) in the mail from Hawkins College for a cash sale. All goods ordered were shipped and the cash sale was processed and recorded. Made a bank deposit for this cash sale plus today's collection from Eastern Wisconsin University. Received validated deposit recept (Doc. No. 11) from the bank after deposit was made. Carrier & number: Interstate Motor Freight: Carrier number 62XY404 Freight charges FOB shipping point.e, will be paid by Hawkins College) Route: Direct Truck & driver: Truck 64, Regina Rexrode Freight rate: $37.00 per 100 lbs. Shipment: 3 cartons/basketballs 14 lbs./carton 15 cartonship, tail, and arm pad sets 32 lbs/carton 5 cartons/footballs 24 lbs./carton Record this cash receipt and process the bank deposit for the day File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc No. 20) for payment in full 16 28th Yes p23 17 28th Yes Received freight ll 26245 (Document No. 19) from Interstate Motor Freight for the Velocity Sporting Goods shipment received December 20th. Issued check (Doc No. 20) to Interstate Motor Freight for the full amount of the freight bill. P23 18 29th Yes Issued an electronic payment to Velocity Sporting Goods using ACH Payment Authorization Na E-53431 (Doc. No. 21) for payment in full of their invoice No. 34719 (Doc. No. 18) for goods received December 20th 23 Consider the credit terms before determining the amount of the electronic payment Trans. # Dec 19 29th Document? Flowchart Description Received the standing workstations ordered on Waren's purchase order No. 325 Yes (Doc No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The workstations were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage p 22 value. 20 30th Yes A24 Printed and reviewed payroll time record reports (Doc. No. 22) for Ford and Adams for the time period ended December 31st and prepared the payroll for all three employees including paychecks. Federal and state withholding amounts for each employee are as follows: Income Tax Withholding Amounts Federal State of inols Ray Kramer $327.00 S173.77 Jim Adams $209.00 $101.64 Nancy Ford $75.00 $73.29 Paychecks are considered 'Mailed/Given to Outsiders! Time record reports are filed in the "Accounting' file tab. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the instructions and Flowcharts book and complete all the month-end procedures. An additional month-end requirement for this project is: Yes Monthly Statement- Prepare a monthly statement (Doc. No. 15) for Branch College YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the instructions and Flowcharts book and complete all the year-end procedures. Additional information for the year-end procedures is: No Ending Inventory - A physical inventory was taken 1/1/23, before business began for the new year. Merchandise on hand cost $203,014.00. No Bad Debt Expense - The expense for bad debts is estimated at the end of the year as two-fifths of one percent (0.004) of net sales. No Marketable Securities - At December 31, 2022, the market value of marketable securities held by Waren approximated the cost of the securities. The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers as indicated in the flowcharts. Document No. 1 Transactions List December 16-31, 2022 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions and Flowcharts book (step 5. Remember the importance of the flowcharts on pages 18-24 for details as to (a) documents to prepare approvals and other internal control procedures (d) accounting entries, and (d) fling. You are to perform the roles of Ray Kramer, Nancy Ford, and Jirn Adams. Flowchart page references are included in the third column of the transactions list where appropriate Some of the following events require the preparation or modification of documents and some do not Although documents accompany most business transactions, you are asked to prepare and work with only a representative sample in this project. Each event on the transactions list includes one of two symbols, which determine whether documents from the document set in this project must be prepared or used: Yes You are required to prepare or modify documents from the document set for this event. An accounting entry may or may not be required. No You are not required to prepare or modity documents from the document set because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exception: annual change in employee pay rates. PLY Hints are provided in boxed areas like this. Trans. PLASM Dec. 1 16th Document? Flowchart Description Yes Received customer purchase order No. 53426 (Doc. No. 4) from Rosemont University, approved their credit and shipped the goods. All goods ordered were shipped, except that only 40 shoulder pad sets were available for shipment. p. 18-19 Carrier & number Allied Trucking; Carrier number 2154 Freight charges: FOB shipping point (ie, will be paid by Rosemont) Route: Express Truck & driver Truck 2961XZ, John Arens Freight rate: $37.00 per 100 lbs. Shipment: 5 cartons/goal and rim sets 42 lbs./carton 2 cartons/backboards @ 123 lbs./carton 8 cartons/shoulder pad sets 30 lbs/carton 4 cartons/football helmets 32 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction For guidance in preparing the bill of lading, see pages 35-36 of the Reference book 2 Document? Dec Flowchart Description Received an email notification from First American Bank and Trust for an ACH pay 16th Yes ment from Branch College ACH payment received was $1.622.88 for payment in full of charge sale invoice No 730. p. 21 3 16th Yes 22 Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No 328 (Doe No. 161 Units Item Description 115 BB-019 Basketball pole pad 125 B8-538 Basketball bag 75 88-431 Whistle and lanyard - set of 6 50 BB-399 Basketball net 100 FB-027 Shoulder pad set to cover back order and inventory restod Vendor address: 1285 Colgrave Ave, Pierre, 5D 57501 Freight carrier Interstate Motor Freight Freight charges FOB shipping pointe, will be paid later by Waren Allowances: None Use purchase order No. 325 (Doc. No. 16) as a guide. Use the price list Doc. No. 3). No receiving or recording occurs at this point for this transaction. File purchase order copies following the flowchart guidance. Received office supplies from Chicago Office Supply as listed on purchase order No 327(Doc No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, but the invoice was not paid. > 4 19th Yes 22 5 19th Yes p 21 Borrowed $90,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5.5%. Received an email notification from the bank that the $90,000 proceeds were electronically deposited into Waren's checking account. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. Follow the ACH deposit procedures in the flowchart and be sure to file the note in the Banking file tab. Received sales return request No. R9034 (Doc. No. 12) from Eastern Wisconsin University (EWU). The request was approved, and the acknowledgment copy mailed to EWU. 6 19th Yes P. 20 7 20th Yes You can't record the sales return yet because the goods have not yet been received from Eastern Wisconsin University. Received vendor invoice No. 105963 (Doc No. 18) from First Security Insurance for the fourth quarter's health insurance coverage for employees and immediately issued a check (Doc. No. 20) for payment in full. Purchase orders are not issued for services that Waren purchases. p.23 ) 2 Trans Dec 8 20th 9 20th Document? Flowchart Description No Increased employee pay rates effective for the December 16th-31st semnimonthly pay period. There were no changes in filing status or withholding allowances New Pay Rate NA Ray Kramer $3,700 semimonthly Jim Adams $22.00 per hour Nancy Ford $18.00 per hour No accounting entries are necessary, but you must update the pay rate history Information in the Pay Rate History Tab Received merchandise from Velocity Sporting Goods as listed on purchase order Yes No. 328. All merchandise listed on the purchase order was delivered in good condi- tion and in the quantities ordered, except that only 86 basketball pole pads tem No. BB-019) were received. The goods were placed immediately in the Inventory P.22 warehouse You can't record a purchase yet because the invoice hasn't been received. Yes Filled the backorder quantity of 35 shoulder pad sets for Rosemont University's customer purchase order No. 53426(Doc. No. 4). Approved Rosemont's credit and shipped the back ordered shoulder pad sets. Prepared a new charge sale invoice p. 18-19 (Doc No. 6) for the sale to Rosemont. Carrier & number: Allied Trucking: Carrier number 2154 Freight charges: FOB shipping pointle, will be paid by Rosemont) Route: Express Truck & driver: Truck 2988XZ, Jennifer Hansen Freight rate: $37.00 per 100 lbs. Shipment: 7 cartons/shoulder pad sets 30 lbs/carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction For guidance in preparing the bill of lading, see pages 35-36 of the Reference book Received vendor invoice No. 34719 (Doc. No. 18) from Velocity Sporting Goods for Yes goods ordered December 16th and received December 20th. 10 21st 11 22nd 22 12 23rd No Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 20th. Received legal notification from Benson, Rosenbrook, and Martinson, P.C.. attorneys at law, that Stevenson College had filed bankruptcy and will most likely be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. Remember that Waren Sports Supply uses the "Allowance method rather than "Direct write-off" for accounting for bad debts. 19 A 3 Trans. Document ? Dec. Flowchart Description Received all goods that Waren had authorized Eastern Wisconsin University (EWU) 23rd Yes to return on EWU's return request No. R8034 for credit against their account balance. 13 20 27th Yes A 21 15 27th Yes P.21 Process and record the sales return now. Received check No 49326 (Doc No. ) for $12,000 from Eastern Wisconsin University in partial payment of the remaining amount after sales return) on charge sale invoice Na 729 Restrictively endorse means to write the following on the back of the check"For deposit only. Waren Sports Supply: Cash receipts prelistis Doc. No. 9. Do not finalize a deposit slip (Doc. No. 10) until you determine whether there are other cash receipts in the form of checks on the same day. Received check No. 47852 (Doc No. 8) for $5,835 and customer purchase order No H821 (Doc. No 4) in the mail from Hawkins College for a cash sale. All goods ordered were shipped and the cash sale was processed and recorded. Made a bank deposit for this cash sale plus today's collection from Eastern Wisconsin University. Received validated deposit recept (Doc. No. 11) from the bank after deposit was made. Carrier & number: Interstate Motor Freight: Carrier number 62XY404 Freight charges FOB shipping point.e, will be paid by Hawkins College) Route: Direct Truck & driver: Truck 64, Regina Rexrode Freight rate: $37.00 per 100 lbs. Shipment: 3 cartons/basketballs 14 lbs./carton 15 cartonship, tail, and arm pad sets 32 lbs/carton 5 cartons/footballs 24 lbs./carton Record this cash receipt and process the bank deposit for the day File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc No. 20) for payment in full 16 28th Yes p23 17 28th Yes Received freight ll 26245 (Document No. 19) from Interstate Motor Freight for the Velocity Sporting Goods shipment received December 20th. Issued check (Doc No. 20) to Interstate Motor Freight for the full amount of the freight bill. P23 18 29th Yes Issued an electronic payment to Velocity Sporting Goods using ACH Payment Authorization Na E-53431 (Doc. No. 21) for payment in full of their invoice No. 34719 (Doc. No. 18) for goods received December 20th 23 Consider the credit terms before determining the amount of the electronic payment Trans. # Dec 19 29th Document? Flowchart Description Received the standing workstations ordered on Waren's purchase order No. 325 Yes (Doc No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The workstations were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage p 22 value. 20 30th Yes A24 Printed and reviewed payroll time record reports (Doc. No. 22) for Ford and Adams for the time period ended December 31st and prepared the payroll for all three employees including paychecks. Federal and state withholding amounts for each employee are as follows: Income Tax Withholding Amounts Federal State of inols Ray Kramer $327.00 S173.77 Jim Adams $209.00 $101.64 Nancy Ford $75.00 $73.29 Paychecks are considered 'Mailed/Given to Outsiders! Time record reports are filed in the "Accounting' file tab. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the instructions and Flowcharts book and complete all the month-end procedures. An additional month-end requirement for this project is: Yes Monthly Statement- Prepare a monthly statement (Doc. No. 15) for Branch College YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the instructions and Flowcharts book and complete all the year-end procedures. Additional information for the year-end procedures is: No Ending Inventory - A physical inventory was taken 1/1/23, before business began for the new year. Merchandise on hand cost $203,014.00. No Bad Debt Expense - The expense for bad debts is estimated at the end of the year as two-fifths of one percent (0.004) of net sales. No Marketable Securities - At December 31, 2022, the market value of marketable securities held by Waren approximated the cost of the securities. The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers as indicated in the flowcharts