Hi, I need accounting assignment help please. The Assignment have 3 parts (A, B, C). Part A is a make a balance. Part B is to make journal entries, and Part C is multiple choice questions.

Thanks.

Part B - Siesta Company In this part of the Comprehensive Problem you will be making Journal Entries (JEs), a short payroll problem and JE, Adjusting Journal Entries (AJEs) and a Bank Reconciliation (don't forget the JE for the Bank Reconciliation). Transactions to record (Some of the transactions require you to use the Quickbooks processes instead of making a Journal Entry. This is noted in each transaction.) 1. Dec. 1, Purchased 200 shares of Chevron Corp. common stock for $93.50 per share to be held as a short-term investment. In addition to the purchase price $40 in brokerage fees were paid to acquire the stock. Check #101 was issued for payment [enter ck #101 under \"Memo\"] [note: for the $40, remember that \"any cost incurred to acquire an asset must be recorded as a cost of that asset\" (e.g. freight-in on purchased inventory is debited to the inventory account). Unclick the \"adjusting entry\" box for all JEs you are recording. 2. Dec. 1, purchased a computer from Computer World for $2,000. Sales tax of 7.5% must also be paid. Payment was made by signing a 2-year note which requires interest at an annual rate of 8% to be paid every quarter. The computer is expected to last 3 years after which time it is expected to be sold for $350. It will be depreciated using the double declining method (due to the rapid obsolescence of computer hardware). 3. Dec. 1, paid $1,680 to National Insurance Company for a one-year insurance policy which \"runs\" from Dec. 1, 2015 - November 30, 2016. Check #102 was issued for payment. 4. Dec. 1, paid $3,600 to JB Commercial Properties for two months of building rent, the months of December 2015 and January 2016. Check #103 was issued for payment. Charge the December rent to \"Rent Expense\" since that amount will be used up in the current month. 5. Dec. 2, purchased $800 of supplies on credit under terms n/30 from Office Supplies Inc. Since these items are not going to be resold by Siesta Company (i.e. they are not inventory), sales tax at 7.5% must also be paid. Office Supplies Inc. invoice #5450 was received at time of purchase (use in your description) and enter \"Office Supplies Inc. under the \"name\" column and then add as a vendor when prompted. 6. Dec. 19, received a quarterly dividend check for $180 from Chevron Corporation. 7. Dec. 27, pay Mattress World invoice #MWI233 for $8,000 with check #105. Note: Do not make a JE entry for this transaction. Rather complete the steps under item #10 on p. 16 of Part A [i.e. click on \"Vendors\Comprehensive Problem - Questions (answers to be submitted in the quizzes section of D2L) 1. The main purpose of an accounting system is to \"track the assets on an entity and the claims to (ownership of) those assets\Comprehensive Problem - Siesta Company Part A- Make a Trial Balance Steps you are to follow: Dating your entries All entries for this problem will be made for the month of December 2015, the first month of business for the company. o We will assume Siesta Company is a corporation formed by two brothers, who were issued stock for their contributions of cash and machines (a pallet jack, a forklift, and a packaging machine) at time of incorporation. The company is a mattress and bedroom furniture wholesaler, though occasionally makes sales directly to individuals. If you check the G/L at this time, you will find balances in some accounts, as the entry which follows was made to record the investments by the owners: a/c# 101 151 161 171 307 Dr. Cr. Dr. amt $110,000 8,500 26,300 8,700 Cash Pallet Jack Fork Lift Packaging Machine Common Stock Cr. amt $153,500 Information about the three fixed assets is as follows: Asset Pallet jack Fork lift Packaging machine Account Name Capitalized \"cost\" $8,500 $26,300 $8,700 Estimated residual value $820 $2,300 $1,500 Estimated useful life 4 years 8,000 hrs 3 years Depreciation method Straight-line Units-of-activity Straight-line Cash Short-term Investments Accounts Receivable Inventory Prepaid Insurance Supplies Prepaid Rent Account Number 101 103 104 105 108 110 115 Account Type Bank Other Current Assets Accounts Receivable Inventory Other Current Assets Other Current Assets Other Current Assets Pallet Jack 151 Fixed Assets Accumulated Dep. - Pallet Jack Fork Lift Accumulated Dep. - Fork Lift Packaging Machine Accumulated Dep. - Packaging Machine Computer Accumulated Dep. - Computer 153 161 163 171 173 Fixed Assets Fixed Assets Fixed Assets Fixed Assets Fixed Assets 181 183 Fixed Assets Fixed Assets Accounts Payable Interest Payable Payroll Taxes Payable Utilities Payable 201 205 215 220 Accounts Payable Other Current Liabilities Other Current Liabilities Other Current Liabilities Notes Payable 280 Long-Term Liability Common Stock Retained Earnings Dividends Declared 307 310 320 Equity Equity Equity Sales Account Number 400 Account Type Income COGS 500 Cost of Goods Sold Supplies Expense Rent Expense Wages Expense Payroll Tax Expense Insurance Expense Depreciation Expense Utilities Expense Miscellaneous Expense 605 610 615 620 625 630 640 650 Expenses Expenses Expenses Expenses Expenses Expenses Expenses Expenses Interest Income Dividend Income Interest Expense Gain/Loss on Sale of Investments Gain/Loss on Sale-Fixed Assets 700 705 750 760 Other Income Other Income Other Expense Other Expense 770 Other Expense Account Name 2nd item First Item Item Name/Number: StdB1 ComB1 Description on Purchase Transactions: Unit of Measure Cost: COGS Account: Income Account: Asset Account: Standard bed set-CS Comfort bed set-MW Each $500.00 500 [do not use #50000] 400 105 [do not use #12100] each $800.00 500 400 105 Issuing Sales invoices to customers. On December 9, Siesta Company received PO's from two customers which contained the following information: Customer Item #1 Sleep World, Noworthen, MN Rest Well Stores, Wolf River, MN Quantit y Standard Bed sets - CS 5 units Unit Selling Price $1,000 Standard Bed Sets - CS 3 units $1,000 Item #2 Quantit y Ship Date Shipping Method Cust. PO# 4 units Unit Selling Price $1,800 Comfort bed sets - MW 12/10/15 Customer Pickup SW085 Comfort bed sets - MW 2 unit $1,800 12/14/15 Yellow Freight 1548 Receiving payment on customer invoices o On December 15, 2015 a $12,200 check, #2058, was received from Sleep World for payment in full on Siesta Company invoice #1. The following steps should be taken to record a cash receipt. o On the \"home page\" either click on \"Customers\" on the tool bar at the top of the page (then \"Receive Payments\" or click on \"Receive Payments\" on the flowchart on the homepage. o Under \"Received From\" use the pull-down menu to select \"Sleep World\" o Under \"Amount\" enter $12,200 o Under \"Date\" enter 12/15/2015 o For the payment method click on the \"Check\" icon o Under \"Check #\" enter 2058 o Enter a check mark in the first column on the line next to the invoice with the date 12/10/2015 and verify that the \"Number\" (invoice number) is 1. o Verify that \"Orig. Amt.\Business 1125 - Financial Accounting Quickbooks G/L Problems -Comprehensive Problem Part B - Siesta Company Welcome to Part B (worth 30 pts) of the Quickbooks Comprehensive Problem. Please note that you should use the updated Siesta Company template provided in D2L instead of your previous Siesta Company file to insure you are starting error-free (i.e. so go into Content in D2L under Quickbooks Comprehensive Problem Part B and perform the same procedures as you did previously for downloading a zipped QB file onto your computer and then uploading it into Quickbooks). In this part of the Comprehensive Problem you will be making Journal Entries (JEs), a short payroll problem and JE, Adjusting Journal Entries (AJEs) and a Bank Reconciliation (don't forget the JE for the Bank Reconciliation). 12. Recording daily entries in the general journal. Record the following entries in the general journal [note: in the \"real world\Business 1125 - Financial Accounting Quickbooks G/L Problems -Comprehensive Problem Siesta Company Part A There are two components to this 40 total point Comprehensive Problem Part A (this assignment) - is worth 10 points allocated to the submission of a correct trial balance as discussed in this handout. Part A includes Steps 1 -11 given below, and covers Quickbooks' methods and procedures to establish the Chart of Accounts, set up Vendors and Customers, issue Purchase Orders (POs) to vendors and Invoices to customers, Receive Inventory and Customer Payments and make Payments to Vendors. You will not make any Journal Entries in Part A because in the real world the vast majority of the daily entries are automatically generated by the accounting system. For example, when an invoice is generated to a customer (and a perpetual inventory system is being used, which is the default in Quickbooks), the two entries which you studied in Chapters 5 & 6 (i.e. dr. COGS and cr. Inventory and dr. A/R and cr. Sales) are automatically recorded in the journal and posted to the general ledger. Thus it is imperative that you establish correct G/L accounts when establishing inventory items, customers, etc. in order to have appropriate entries generated by the system. Part B (described in a separate handout) - is worth 80 points (50 points allocated to the correctness of documents required to be submitted, and 30 points allocated to questions for which you will once again submit your answers in the quizzes section in D2L). In part B you will be required to make Journal Entries, Adjusting Journal Entries and prepare a Bank Reconciliation Keep this Part A document as Part B will refer to it. General Information A. Load the \"Quickbooks Comprehensive Problem\" template onto your computer by performing the same steps you previously used for the prior QB problems (these steps are repeated for you below). 1. the The Quickbooks templates are found in the \"Content\" section (under \"QuickBooks Documents\") in D2L. Due to size and nature of the file it had to be \"zipped\" (i.e. compressed) in order for you to be able to download it. You cannot directly load a zipped file into Quickbooks and thus you must unzip the file once you download it onto your computer in order to upload it from your computer into Quickbooks. Find the Quickbooks \"Comprehensive Problem\" Template and download the zipped file to your computer. You will then need to unzip the file using following instructions: To extract files or folders from a compressed folder: a. Locate the compressed folder that you want to extract files or folders from. b. Do one of the following: o To extract a single file or folder, double-click the compressed folder to open it. Then, drag the file or folder from the compressed folder to a new location. o To extract the entire contents of the compressed folder, right-click the folder, click Extract All, and then follow the instructions. 2. Start Quickbooks (if not already open). 3. If a company opens, click File, Close Company (the menu is on the upper left hand side of the page). The Quickbooks startup window [a dialog box \"No Company Open\" should be in the window] 4. Click \"Open or restore an existing company\". The \"Open or Restore Company\" dialog box should appear. Select the radio button entitled \"Restore a copy\". Click \"Next\Business 1125 - Financial Accounting Quickbooks G/L Problems -Comprehensive Problem Siesta Company Part A There are two components to this 40 total point Comprehensive Problem Part A (this assignment) - is worth 10 points allocated to the submission of a correct trial balance as discussed in this handout. Part A includes Steps 1 -11 given below, and covers Quickbooks' methods and procedures to establish the Chart of Accounts, set up Vendors and Customers, issue Purchase Orders (POs) to vendors and Invoices to customers, Receive Inventory and Customer Payments and make Payments to Vendors. You will not make any Journal Entries in Part A because in the real world the vast majority of the daily entries are automatically generated by the accounting system. For example, when an invoice is generated to a customer (and a perpetual inventory system is being used, which is the default in Quickbooks), the two entries which you studied in Chapters 5 & 6 (i.e. dr. COGS and cr. Inventory and dr. A/R and cr. Sales) are automatically recorded in the journal and posted to the general ledger. Thus it is imperative that you establish correct G/L accounts when establishing inventory items, customers, etc. in order to have appropriate entries generated by the system. Part B (described in a separate handout) - is worth 80 points (50 points allocated to the correctness of documents required to be submitted, and 30 points allocated to questions for which you will once again submit your answers in the quizzes section in D2L). In part B you will be required to make Journal Entries, Adjusting Journal Entries and prepare a Bank Reconciliation Keep this Part A document as Part B will refer to it. General Information A. Load the \"Quickbooks Comprehensive Problem\" template onto your computer by performing the same steps you previously used for the prior QB problems (these steps are repeated for you below). 1. the The Quickbooks templates are found in the \"Content\" section (under \"QuickBooks Documents\") in D2L. Due to size and nature of the file it had to be \"zipped\" (i.e. compressed) in order for you to be able to download it. You cannot directly load a zipped file into Quickbooks and thus you must unzip the file once you download it onto your computer in order to upload it from your computer into Quickbooks. Find the Quickbooks \"Comprehensive Problem\" Template and download the zipped file to your computer. You will then need to unzip the file using following instructions: To extract files or folders from a compressed folder: a. Locate the compressed folder that you want to extract files or folders from. b. Do one of the following: o To extract a single file or folder, double-click the compressed folder to open it. Then, drag the file or folder from the compressed folder to a new location. o To extract the entire contents of the compressed folder, right-click the folder, click Extract All, and then follow the instructions. 2. Start Quickbooks (if not already open). 3. If a company opens, click File, Close Company (the menu is on the upper left hand side of the page). The Quickbooks startup window [a dialog box \"No Company Open\" should be in the window] 4. Click \"Open or restore an existing company\". The \"Open or Restore Company\" dialog box should appear. Select the radio button entitled \"Restore a copy\". Click \"Next\