Phantom Consulting Inc. is a small computer consulting business. The company is organized as a corporation and provides consulting services, computer system installations, and custom program development. Phantom Consulting Inc. showed the following alphabetized post-closing trial balance at October 31, 2023. Account: Accounts payable 130,000 Accounts receivable 49,000 Accumulated depreciation, equipment 3,000 Cash 194,500 Equipment 8,500 Retained earnings 62,000 Share capital 57,000 Note: Note: There were 5,000 shares issued and outstanding on October 31, 2023. Depreciation on the equipment is $400 per month. Phantom Consulting Inc.'s salaries expense is a total of $950 per day for each work day (Monday-Friday) in the month (for simplicity, please ignore all statutory holidays). The following source documents are from November : Sundown Co 2571 76 Avenue Regina, Saskatchewan N1I 8Y4 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 1, 2023 Account No.: 4288 Cash Cheques (re: 2,000 shares issued today) $85,000 Total Deposits $85,000 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 1, 2023 PO No.: 7023 Vendor: Carter's Computers 8698 Franklin Crescent Regina, Saskatchewan Q1P 7Z5 Ship To: Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Item No. Ordered Description Unit Price Total COM994 1 Computers Estimated useful life : 10 years. Estimated residual value : $1,080. $21,600 $21,600 Sub-Total: $21,600 Shipping: 0 Total: $21,600 Date: November 1, 2023 From: Jack Tasker To: Office Assistant Subject: Cash Disbursement Please write a cheque to Sundown Co in the amount of $3,600. This will pay for rent for the next 12 months. Thanks, Jack Tasker Carter's Computers 8698 Franklin Crescent Regina, Saskatchewan Q1P 7Z5 Date: November 2, 2023 Invoice No.: 9906 Customer: Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Rep: Jack Tasker PO No.: 7023 Qty Description Unit Price Total 1 Computers as ordered on November 1, 2023. Estimated useful life : 10 years. Estimated residual value : $1,080. $21,600 $21,600 Sub-Total: $21,600 Freight: 0 Total: $21,600 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 2, 2023 Receipt No.: 4392 Customer: XYZCo 7150 68 Avenue Regina, Saskatchewan R7X 2L9 Rep: Jack Tasker Qty Description Unit Price Total 10 Ongoing consulting regarding security, per month. To begin immediately and end August 31, 2024. $2,100 $21,000 Total: $21,000 Paid: $21,000 Balance Due: $0 Date: November 4, 2023 From: Jack Tasker To: Office Assistant Subject: New Hire Bert Zimm has accepted our job offer and will begin employment with us on December 1. Please get everything ready for that date. Thanks, Jack Tasker Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 7, 2023 Receipt No.: 4393 Customer: WestCo 8716 Franklin Crescent Regina, Saskatchewan A5Q 2E2 Rep: Kevin Smith Invoice No.: Verbal Qty Description Unit Price Total 2 Instructional seminar, per hour $93 $186 Total: $186 Paid: $186 Balance Due: $0 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 10, 2023 Invoice No.: 6248 Customer: BetaCo 6643 Paper Crescent Regina, Saskatchewan K8I 7R7 Rep: Jerry Forrentes PO No.: Verbal Qty Description Unit Price Total 16 Initial consultation to determine new program requirements, per hour $93 $1,488 16 Follow-up consultation to confirm proposed program specification, per hour $93 $1,488 32 System wide testing on new program, per hour $93 $2,976 40 Training on new computer software, per hour $93 $3,720 Sub-Total: $9,672 Freight: 0 Total: $9,672 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 16, 2023 Invoice No.: 6249 Customer: Willaby Co 1318 80 Avenue Regina, Saskatchewan U6K 3K8 Rep: Bert Zimm PO No.: Verbal Qty Description Unit Price Total 8 Initial consultation to determine new program requirements, per hour $93 $744 32 Follow-up consultation to confirm proposed program specification, per hour $93 $2,976 40 System wide testing on new program, per hour $93 $3,720 8 Training on new computer software, per hour $93 $744 Sub-Total: $8,184 Freight: 0 Total: $8,184 Joseph's Repair Services 5208 31 Avenue Regina, Saskatchewan R5X 1T9 Date: November 16, 2023 Receipt No.: 1611 Customer: Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Rep: Jack Tasker Qty Description Unit Price Total 1 Repairs to equipment $700 $700 Total: $700 Paid: $700 Balance Due: $0 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 17, 2023 Receipt No.: 4395 Customer: Willaby Co 1318 80 Avenue Regina, Saskatchewan U6K 3K8 Rep: Bert Zimm Qty Description Unit Price Total Balance forward $0 1 Invoice #6249 (on November 16, 2023) $8,184 $8,184 Total: $8,184 Paid: $8,184 Balance Due: $0 Date: November 21, 2023 From: Jack Tasker To: Office Assistant Subject: Cash Disbursement Please prepare a cheque to Carter's Computers in the amount of $21,600. This will pay for the invoice received on November 2. Thanks, Jack Tasker Regina Hydro 8713 Elm Road Regina, Saskatchewan O7V 3X9 Customer Name: Phantom Consulting Inc. Account No.: 5995538 Service Period: 01/Nov - 23/Nov Invoice Date: November 23, 2023 Previous Charges Previous balance forward $500 Payment on October 31 $-500 Total previous charges $0 Current Charges Water and sewage $250 Natural Gas $150 Electricity $100 Total current charges $500 Amount Due: $500 The Grayson Group 4898 28 Avenue Regina, Saskatchewan S6T 3W8 Customer Name: Phantom Consulting Inc. Account No.: 9196145 Service Period: 01/Nov - 23/Nov Invoice Date: November 23, 2023 Previous Charges Previous balance forward $750 Payment on October 31 $-750 Total previous charges $0 Current Charges TV advertising campaign $200 Radio advertising campaign $150 Print advertising campaign $350 Total current charges $700 Amount Due: $700 Date: November 25, 2023 From: Jack Tasker To: Office Assistant Subject: Cash Disbursement Please prepare a cheque for salaries owed to employees for the period November 1 to November 25. Thanks, Jack Tasker Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 26, 2023 Receipt No.: 4394 Customer: Sundown Co 10221 66 Avenue Regina, Saskatchewan T5Z 6R6 Rep: Susan Montgomery Invoice No.: Verbal Qty Description Unit Price Total 1 Installation of new network component, per hour $66 $66 Total: $66 Paid: $66 Balance Due: $0 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 26, 2023 Receipt No.: 4394 Customer: Sundown Co 10221 66 Avenue Regina, Saskatchewan T5Z 6R6 Rep: Susan Montgomery Invoice No.: Verbal Qty Description Unit Price Total 1 Installation of new network component, per hour $66 $66 Total: $66 Paid: $66 Balance Due: $0 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 26, 2023 Receipt No.: 4394 Customer: Sundown Co 10221 66 Avenue Regina, Saskatchewan T5Z 6R6 Rep: Susan Montgomery Invoice No.: Verbal Qty Description Unit Price Total 1 Installation of new network component, per hour $66 $66 Total: $66 Paid: $66 Balance Due: $0 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 26, 2023 Receipt No.: 4394 Customer: Sundown Co 10221 66 Avenue Regina, Saskatchewan T5Z 6R6 Rep: Susan Montgomery Invoice No.: Verbal Qty Description Unit Price Total 1 Installation of new network component, per hour $66 $66 Total: $66 Paid: $66 Balance Due: $0 Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 26, 2023 Receipt No.: 4394 Customer: Sundown Co 10221 66 Avenue Regina, Saskatchewan T5Z 6R6 Rep: Susan Montgomery Invoice No.: Verbal Qty Description Unit Price Total 1 Installation of new network component, per hour $66 $66 Total: $66 Paid: $66 Balance Due: $0 George's Diner 10573 67 Street Regina, Saskatchewan 677-1559 Check #: 863208 Server: Steve Date: November 29, 2023 Table: 33 Time: 12:57 2 Coffee 2.00 3 Pizza, hawaiian 33.00 2 Beef dip 16.00 Total: $51.00 Cash Received: $51.00 Thank you for dining with us! Phantom Consulting Inc. 4002 63 Avenue Regina, Saskatchewan K2L 1L3 Date: November 30, 2023 Customer: BetaCo 6643 Paper Crescent Regina, Saskatchewan K8I 7R7 Date Description Amount Balance November 1 Balance forward $0 November 10 Invoice #6248 $9,672 $9,672 Amount Due: $9,672 Date: November 30, 2023 From: Jack Tasker To: Office Assistant Subject: Cash Disbursement Please prepare a cheque to pay the Regina Hydro bill received on November 23. Thanks, Jack Tasker Date: November 30, 2023 From: Jack Tasker To: Office Assistant Subject: Cash Disbursement Please prepare a cheque to pay dividends of $0.29 per share to shareholders of record on today's date. Thanks, Jack Tasker