Required

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, (b) approvals and other internal control procedures, (c) accounting entries, and (d) filing. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim 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 50me 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 fransactions list includes one of two symbols, which determine whether documents from the loose document set in this project must be prepared or used: Yes You are required to prepare or modify documents from the loose document set for this event. An accounting entry may or may not be required. No You are not required to prepare or modify documents from the loose document set. because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exceptions the annual change in employee pay rates. - Hints are provided in boxed areas like this. A 2 \begin{tabular}{|c|} \hline Trans. # \\ \hline 13 \\ \hline \end{tabular} A 22,515 Total 4 4 450,30 lates discunt 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 Rosemont University. 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: Ending inventory - A physical inventory was taken 1/1/23, before business began for the new year. Merchandise on hand cost $202,920.00. Bad Debt Expense - The expense for bad debts is estimated at the end of the year as onehalf of one percent (0.005) of net sales. f. ad soles - rfins - sily d,se 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 using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. REMIENTS tsmenoti. - rentues aad rash disberements. Turchases and purchaser returns tewein the pentaves and cat diterementents cycle. Howisg the semism pracess described on pages 11 and 12 . Do this for each manatinachic it lum Yoe may be asked so complete the month-end and yeapend fluchetsarts may havealready beco dope: gck asiged and repat this proces antit the project is completed. 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, (b) approvals and other internal control procedures, (c) accounting entries, and (d) filing. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim 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 50me 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 fransactions list includes one of two symbols, which determine whether documents from the loose document set in this project must be prepared or used: Yes You are required to prepare or modify documents from the loose document set for this event. An accounting entry may or may not be required. No You are not required to prepare or modify documents from the loose document set. because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exceptions the annual change in employee pay rates. - Hints are provided in boxed areas like this. A 2 \begin{tabular}{|c|} \hline Trans. # \\ \hline 13 \\ \hline \end{tabular} A 22,515 Total 4 4 450,30 lates discunt 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 Rosemont University. 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: Ending inventory - A physical inventory was taken 1/1/23, before business began for the new year. Merchandise on hand cost $202,920.00. Bad Debt Expense - The expense for bad debts is estimated at the end of the year as onehalf of one percent (0.005) of net sales. f. ad soles - rfins - sily d,se 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 using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. REMIENTS tsmenoti. - rentues aad rash disberements. Turchases and purchaser returns tewein the pentaves and cat diterementents cycle. Howisg the semism pracess described on pages 11 and 12 . Do this for each manatinachic it lum Yoe may be asked so complete the month-end and yeapend fluchetsarts may havealready beco dope: gck asiged and repat this proces antit the project is completed