INVENTORY & SERVICES Module Setup and Transactions Review: G/L, A/P, A/R Challenge Exercise 05 C5-2, Charlie's...

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INVENTORY & SERVICES Module Setup and Transactions Review: G/L, A/P, A/R Challenge Exercise 05 C5-2, Charlie's Hair Styling COMPANY, RECEIVABLES, PAYABLES, INVENTORY & SERVICES 5-373 Charlie's Hair Styling cuts ladies' and men's hair and sells hair products. Note: All haircuts and products are subject to 13% HST. Ignore the Shipped By field. 1 Refer to Exercise 1-1 to unzip the 05 C5-2 Hair.exe file. 2 Open the 05 C5-2 Hair file. 3 Record and Post the following transactions for March: Mar 1 Mar 1 Mar 2 Mar 3 Mar 3 Change the customer name "Your Actual First and Last Name" to your own name before recording transactions. Issued next cheque to pay $600.00 rent, plus HST, at 13%, to Mega Mall Ltd. Ms. Rodrigues paid by Universal Credit Card for 1 lady's haircut at $30.00, plus taxes, and 1 bottle of regular shampoo (SG01) at $12.00, plus HST. Mr. Miguel Santos used his Universal Credit Card for a man's haircut at $20.00 and a child's haircut at $10.00, plus HST. Cash sale of 2 bottles shampoo (SB01) $13.00 each and 2 bottles conditioner (CB01) $14.50 each, plus HST, to Mrs. Kiran Kenth. Mar 5 Your First and Last Name ordered a new style hair dryer on sales order #16 at $40.00, plus HST, terms leave blank. Item will be delivered March 13. Display the new item with the following information: Description Number Selling Price Link Minimum Quantity New Style Hair Dryer #23 HD-23 $40.00 Sales Other 0 Mar 5 Issued Purchase Order #19 to Hair Products International for 3 new style hair dryer #23 at $28.00 each, plus HST. Delivery date, Mar 7. This is a new item described on March 5. Terms 2/10, net 30. Mar 6 Mrs. Chen purchased 2 bottles of mousse (MB01) at $18.00 each, plus HST. Cheque #126 received in full payment. Mar 7 Issued cheque to new vendor Flooring Specialty (address not important) for 2 gallons (6 months' supply) of Heavy Duty Floor Cleaner at $125.00 per gallon, plus HST. Invoice #9682. Charge to Store Supplies. Mar 7 Two new hair dryers were delivered by Hair Products International on Invoice #6589 at price agreed on Purchase Order #19. The remaining dryer is back ordered and will be available in 6 days. Mar 8 The manager called Your First and Last Name to tell them that the hair dryer arrived. Received their cheque #257 to pay for the hair dryer on Invoice #236 (Sales Order #16). Mar 10 Mrs. Del Rosario had a haircut $30.00, and purchased 1 each of shampoo (SB01) $13.00, conditioner (CB20) $16.00, and mousse (MB01) $18.00, plus HST. She paid with her Universal Credit Card. Mar 10 Mrs. Del Rosario returned the mousse because she decided she did not want the product at this time. Process a credit card adjustment to accept the return. 4 Print the following reports: a) Income Statement, year-to-date b) Balance Sheet to March 10 c) All Journal Entries to March 10 d) Pending Purchase Orders Detail by Vendor at Mar 10 e) (Inventory & Services) Summary at Mar 10 f) (Inventory & Services) Quantity at Mar 10 INVENTORY & SERVICES Module Setup and Transactions Review: G/L, A/P, A/R Challenge Exercise 05 C5-2, Charlie's Hair Styling COMPANY, RECEIVABLES, PAYABLES, INVENTORY & SERVICES 5-373 Charlie's Hair Styling cuts ladies' and men's hair and sells hair products. Note: All haircuts and products are subject to 13% HST. Ignore the Shipped By field. 1 Refer to Exercise 1-1 to unzip the 05 C5-2 Hair.exe file. 2 Open the 05 C5-2 Hair file. 3 Record and Post the following transactions for March: Mar 1 Mar 1 Mar 2 Mar 3 Mar 3 Change the customer name "Your Actual First and Last Name" to your own name before recording transactions. Issued next cheque to pay $600.00 rent, plus HST, at 13%, to Mega Mall Ltd. Ms. Rodrigues paid by Universal Credit Card for 1 lady's haircut at $30.00, plus taxes, and 1 bottle of regular shampoo (SG01) at $12.00, plus HST. Mr. Miguel Santos used his Universal Credit Card for a man's haircut at $20.00 and a child's haircut at $10.00, plus HST. Cash sale of 2 bottles shampoo (SB01) $13.00 each and 2 bottles conditioner (CB01) $14.50 each, plus HST, to Mrs. Kiran Kenth. Mar 5 Your First and Last Name ordered a new style hair dryer on sales order #16 at $40.00, plus HST, terms leave blank. Item will be delivered March 13. Display the new item with the following information: Description Number Selling Price Link Minimum Quantity New Style Hair Dryer #23 HD-23 $40.00 Sales Other 0 Mar 5 Issued Purchase Order #19 to Hair Products International for 3 new style hair dryer #23 at $28.00 each, plus HST. Delivery date, Mar 7. This is a new item described on March 5. Terms 2/10, net 30. Mar 6 Mrs. Chen purchased 2 bottles of mousse (MB01) at $18.00 each, plus HST. Cheque #126 received in full payment. Mar 7 Issued cheque to new vendor Flooring Specialty (address not important) for 2 gallons (6 months' supply) of Heavy Duty Floor Cleaner at $125.00 per gallon, plus HST. Invoice #9682. Charge to Store Supplies. Mar 7 Two new hair dryers were delivered by Hair Products International on Invoice #6589 at price agreed on Purchase Order #19. The remaining dryer is back ordered and will be available in 6 days. Mar 8 The manager called Your First and Last Name to tell them that the hair dryer arrived. Received their cheque #257 to pay for the hair dryer on Invoice #236 (Sales Order #16). Mar 10 Mrs. Del Rosario had a haircut $30.00, and purchased 1 each of shampoo (SB01) $13.00, conditioner (CB20) $16.00, and mousse (MB01) $18.00, plus HST. She paid with her Universal Credit Card. Mar 10 Mrs. Del Rosario returned the mousse because she decided she did not want the product at this time. Process a credit card adjustment to accept the return. 4 Print the following reports: a) Income Statement, year-to-date b) Balance Sheet to March 10 c) All Journal Entries to March 10 d) Pending Purchase Orders Detail by Vendor at Mar 10 e) (Inventory & Services) Summary at Mar 10 f) (Inventory & Services) Quantity at Mar 10