The midterm is to be completed using the QuickBooks Online test drive company, Craig's Design and

Landscaping Services. To open the testdrive company, clink the link below:

Midterm Exam $1$

Products and Services

$3.$ Add the following category.

Name Pools

$4.$ Add the following service.

Type Service

Name Pool Cleaning

Category Pools

Description Pool Cleaning Service

Sales Price $$150($per hour$)$

Income Account Services

Sales Tax

Category

Nontaxable $($ HINT: Click Edit Sale tax; Scroll to the bottom of the list and pick Nontaxable

and Done. Ignore any warnings about the tax status.$)$

$5.$ Edit a current service item

You notice a sales price has not been assigned to the

Weekly Gardening Service $($Gardening$).$ You edit the service as follows:

a$.$ Add a sales price of $$50\mathrm{.}00$

b$.$ Make sure the service is non$-$taxable.

HINT: Click Edit Sale tax; Scroll to the bottom of the list and pick Nontaxable. Ignore any

warnings about the tax status.

New Vendor:

$6.$ Set up the following vendor.

Company Name Allegiance Insurance

Vendor Display

Name Allegiance Insurance

$2525$ San Pablo Dam Rd$.$

San Pablo, CA $94806$

Payment Terms Net $15$

Settings:

$7.$ Go to the Account and Settings area and change the following settings:

a$.$ Change the Company name to your own name $($Company tab$)$

b$.$ Turn ON Custom transaction numbers for sales forms $($Sales tab$)$

c$.$ Turn OFF Pre$-$fill forms with previously entered content $($Advanced tab$)$

d$.$ Turn OFF Automatically apply credits $($Advanced tab$)$

e$.$ Extend the time of Sign me out if inactive for to $3$ hours. $($Advanced tab$)$

Address

Midterm Exam $2$

Transactions:

$8.$ Record the following transactions.

Date Transaction

$8/1/24$

Write a check for $$1,200$ from the Checking Account to Allegiance Insurance. This is to

prepay for $6$ months of property insurance for your company starting on the date of the

check. Check #$71$ $$1,200\mathrm{.}00$

$8/3/24$ Create invoice #$1038$ to Rago Travel Agency for $2$ weeks of weekly gardening service

$($Gardening$).$

$8/3/24$ Receive a check $($#$5488)$ from John Melton for $$400.$ This is a partial payment on invoice

#$1007$ that has an open balance. Deposit to Undeposited Funds

$8/3/24$ Deposit all undeposited customer payments to the checking account.

$8/10/24$ Enter your monthly cell phone bill from Cal Telephone for $$83\mathrm{.}00($Bill No$.112017).$ The bill

is due in $30$ days. Enter the bill.

$8/12/24$

One of the mowers had to be repaired. Hick's Hardware completed the repairs at a cost of

$$423\mathrm{.}00.$ You paid for the equipment repair with the company Mastercard when you picked

up the mower.

CAUTION: SELECT THE APPROPRIATE PAYMENT ACCOUNT.

$8/12/24$ You completed a large landscaping project for JJ$\text{'}$s Pizza Palace. You invoice them $($Invoice

#$1039)$ for $40$ hours of Landscape Installation.

$8/16/24$

Pay the bills that are due to Robertson and Associates for $$315$ and PG&E for $$86\mathrm{.}44$ with

checks starting with check #$72.$

CAUTION: WATCH DATES & PAYMENT ACCOUNT CAREFULLY

$8/18/24$

Bill's Windsurf Shop called and needed an emergency pool cleaning in their surfer training

pool. The cleaning took $2$ hours $($Qty $=2).$ When you completed the cleaning the customer

paid you right away with check # $65412.$ Use number SR$-103.$

$8/18/24$

Weiskopf Consulting was not happy with their design service. They have been a good

customer so you decide to issue a credit memo CM$1010$ for $$75\mathrm{.}00(1$ hour of Design work$).$

All of the design work was originally invoiced on invoice #$1010.$

$8/20/24$ You receive the bill for the monthly gas and electric expense from PG&E for $$75\mathrm{.}00.$ The

terms are Net $15$ and the bill is #$86.$

$8/20/24$ Receive a $$300$ check $($#$54123)$ from Weiskopf Consulting for the remaining balance on

invoice #$1010$ less the credit memo $($CM$1010).$

CAUTION $-$ WATCH DATES CAREFULLY

Midterm Exam $3$

$8/20/24$ Deposit all undeposited customer payments to the checking account.

$8/22/24$

Pay the outstanding bill from Norton Lumber and Building Materials for $$205\mathrm{.}00$ with check

#$74.$

CAUTION: WATCH DATES CAREFULLY

$8/31/24$ Enter journal entries for the following month$-$end accounting activity:

$1.$ Expense one month of the property insurance cost that you paid for on the first of the

month. $($Journal No$.$ MT$-1)$

$2.$ Monthly depreciation on the fixed asset truck: $$125$

$($Journal No$.$ MT$-2)$

Bank Reconciliation.

$9.$ Prepare the bank reconciliation using the following information:

Opening Balance $$5,000$

Ending Balance $$10,338\mathrm{.}23$

Reconciliation

Date $8/31/24$

Payments:

The first $9$ transactions listed on the payments tab starting with $$300$ and ending with $$108\mathrm{.}09$

appear on the bank statement.

Deposits:

All $13$ transactions listed on the deposits tab starting with $$175$ and ending with $$600$ appear on the

bank statement.

Print the final bank reconciliation report to a pdf file.

Reports to Run

$10.$ Run the following reports. Export the reports to a pdf file.

$8/1/2024$ Start Date

$8/31/2024$ End Date

Journal Report for the dates listed above $-$ Be sure to run the CLASSIC version

Balance Sheet Report for the dates listed above

Prof