This problem is from the Integrated Accounting for windows 8e. This is a comprehensive problem and needs to be solved via using software that comes along with the book.

Show all steps: Chapter 3CP, Problem 1P Bookmark Problem This comprehensive problem involves completing the accounting cycle for Gomez Garage Door Co. for the month of December. Gomez Garage Door Co. is a departmentalized business, organized as a corporation, with two departments: residential and commercial. Complete the audit questions located at the end of this problem after finishing the month's work and before closing entries Step 1: Start Integrated Accounting 8e. Step 2: Open the file named IA8 Comp Problem 03. Step 3: Enter your name in the Your Name text box. Step 4: Enter the purchase order and purchase invoice transactions. Dec. 03 Ordered 12 Premium 9x7 Panel residential doors at $265.00 each on account from Schaefer Bros. Mfg., terms 2/10, n/30. Purchase Order No. 1248. 05 Returned 2 Std. 9x7 Non Ins. Panel residential doors at $189.00ach, and 1 Pro 16x3 Sheet Metal commercial door at $625.00 to Henderson Company. Purchase Invoice No. A2396. 15 Received 35 Std. 9x7 Ins. Panel residential doors at $225.00 each, and 30 Std. 9x7 Non Ins. Panel residential doors at $189.00 each for Purchase Order No. 1245 from Delaney Manufacturing, terms 210, n/30. Purchase Invoice No. 2436. 22 Received 30 Arrow 16x9 Panel Steel commercial doors at $785.00 each for Purchase Order No. 1246 from Spencer Industries, terms 2/10, n30. Purchase Invoice No. 2437 29 Ordered 12 Kat 16x9 Ribbed Steel commercial doors at $995.00 each on account from Spencer Industries, terms 2/10, n.30. Purchase Order No. 1249 Step 5: Enter the cash payment transactions. Dec. 02 Paid cash for heating and lighting expense, $337.82. Check No. 6852. 05 Paid cash for telephone bill, S602.36. Check No. 6853. 11 Paid cash on account to Henderson Company, $29,884.98, no discount. Check No. 6854 19 Paid cash on account to Delaney Manufacturing, S 13,545.00. less 2% discount for residential merchandise, $270.90. Check No. 6855. 21 Paid cash for advertising, $3,000.00. Check No. 6856. 27 Paid cash on account to Spencer Industries, $23.550.00, less 2% discount for oo ercial merchandise, $471.00. Check No. 6857 30 Paid cash for monthly salary expense, $10,487.00. Check No. 6858. 30 Paid cash for monthly rent, $2,500.00. Check No. 6859 31 Paid cash for sales tax liability, S224.30. Check No. 6860 Step 6: Enter the sales invoice transactions Dec. 02 Sold 8 Premium 16x7 Wood residential doors at $1,150.00 each, and 5 Arrow 22x10 Panel Steel commercial doors at $2,195.00 to PK Builder Supply Co., terms 2/10, n/30, no sales tax, Sales Invoice No. 5437 04 Granted credit to Currie Builders, Inc. for 1 returned Std. 16x7 Non Ins Panel residential door at $669.00, no sales tax, Sales Return No. R5371 05 Sold 5 Std. 16x7 Non Ins. Panel residential doors at $669.00 each, 7 Pro 22x10 Sheet Metal commercial doors at $1,789.00 each, and 2 Kat 16x9 Ribbed Steel commercial doors at $1,995.00 each to Preston Construction, terms 2/10, n/30, no sales tax, Sales Invoice No. 5438 09 Granted credit to Renner Garage Doors for 1 returned Pro 16x9 Sheet Metal commercial door at $1,250.00, no sales tax, Sales Return No. R5388 15 Sold 6 Premium 16x7 Panel residential doors at $925.00 each, and 15 Std. 9x7 Ins Panel residential doors at $445.00 each to Schomer Construction, terms 30 days, no sales tax Sales Invoice No. 5439 20 Sold 12 Arrow 16x9 Panel Steel commercial doors at $1,569.00 each to Atwood Building Center, terms 2/10, n/30, no sales tax, Sales Invoice No. 5440 30 Sold 7 Premium 16x7 Panel residential doors at $925.00 each, 4 Std. 97 Non Ins. Panel residential doors at $379.00 each, and 10 Std. 16x7 Non Ins. Panel residential doors at $669.00 each to Frentz Remodeling Co., terms 30 days, no sales tax, Sales Invoice No. 5441 Step 7: Enter the cash receipt transactions Dec. 06 Received cash on account from Currie Builders, Inc., covering Sales Invoice No. 5371 for $26,004.72; no discount. 07 Received cash on account from Atwood Building Center, covering Sales Invoice No. 5368 for $9,202.83; no discount. 09 Received cash on account from Dobson Contractors, Inc., covering Sales Invoice No. 5377 for $13,945.97; no discount. 10 Received cash on account from Owens Building Supplies, covering Sales Invoice No. 5370 for $10,199.82; no discount. 14 Received cash on account from PK Builder Supply Co., covering Sales Invoice No. 5437 for $20,175.00; less 2% discount for residential merchandise, $184.00; less 2% discount for commercial merchandise, $219.50 21 Received cash on account from Preston Construction, covering Sales Invoice No. 5438 for $19,858.00; less 2% discount for residential merchandise, $317.36, less 2% discount for commercial merchandise, $79.80 28 Received cash on account from Schomer Construction, covering Sales Invoice No. 5439 for $12,225.00; less 2% discount for residential merchandise, $244.50 30 Received cash on account from Atwood Building Center, covering Sales Invoice No. 5440 foir 30 Received cash on account from Atwood Building Center, covering Sales Invoice No. 5440 for $18,828.00; less 2% discount for commercial merchandise, $376.56 Step 8: Display the purchase order, purchase invoice, and sales invoice registers for the month of December Step 9: Display the Inventory List report. Step 10: Display the Inventory Transactions report for the month of December Step 11: Display the Inventory Valuation (Average Cost) report. Step 12: Display the General, Purchases, Cash Payments, Sales, and Cash Receipts Journal reports for the month of December. Step 13: Display the trial balance Step 14: Display the schedule of accounts payable Step 15: Display the schedule of accounts receivable End of-Month Activities After the monthly transactions have been processed, the adjusting entries must be entered into the general journal. The financial statements may then be displayed. Use the following adjustment data for the month of December for Gomez Garage Door Co. and the trial balance report prepared in Step 13 as the basis for preparing the adjusting entries Merchandise inventories on December 31 $158,938.00 Residential $178,000.00 Commercial $150.00 Insurance expired during December Inventories of supplies on December 31 $525.00 Depreciation for December Automobiles $487.62 Office equipment $139.25 Office equipment $139.25 $168.92 Warehouse equipment Uncollectible accounts expense increase $225.00 $147.30 Interest receivable $174.82 Accrued interest expense $979.13 Salaries payable Additional income tax owed $1,200.00 Step 1: Enter the adjusting entries in the general journal. Enter a reference of Adj.Ent. in the Reference text box. Step 2: Display the adjusting entries Step 3: Display the gross profit statements Step 4: Display the income statement. Step 5: Display the retained earnings statement. Step 6: Display the balance sheet Step 7: Display the income statement (horizontal analysis) Step 8: Display the income statement (vertical analysis) Step 9: Display the balance sheet (horizontal analysis) Step 10: Display the balance sheet (vertical analysis) Step 11: Save your data with a file name of C-3BC Your Name (where C-3 identifies the problem, and BC represents Before Closing) Step 12: Complete the Audit Questions for Comprehensive Problem 03 on pages 471-473 Display reports as necessary to answer the questions Step 13: Generate and post the closing journal entries Step 14: Display the closing entries Step 15: Display the post-closing trial balance Step 16: Save your data with a file name of C-3AC Your Name (where C-3 identifies the problem, and AC represents After Closing Show all steps: Chapter 3CP, Problem 1P Bookmark Problem This comprehensive problem involves completing the accounting cycle for Gomez Garage Door Co. for the month of December. Gomez Garage Door Co. is a departmentalized business, organized as a corporation, with two departments: residential and commercial. Complete the audit questions located at the end of this problem after finishing the month's work and before closing entries Step 1: Start Integrated Accounting 8e. Step 2: Open the file named IA8 Comp Problem 03. Step 3: Enter your name in the Your Name text box. Step 4: Enter the purchase order and purchase invoice transactions. Dec. 03 Ordered 12 Premium 9x7 Panel residential doors at $265.00 each on account from Schaefer Bros. Mfg., terms 2/10, n/30. Purchase Order No. 1248. 05 Returned 2 Std. 9x7 Non Ins. Panel residential doors at $189.00ach, and 1 Pro 16x3 Sheet Metal commercial door at $625.00 to Henderson Company. Purchase Invoice No. A2396. 15 Received 35 Std. 9x7 Ins. Panel residential doors at $225.00 each, and 30 Std. 9x7 Non Ins. Panel residential doors at $189.00 each for Purchase Order No. 1245 from Delaney Manufacturing, terms 210, n/30. Purchase Invoice No. 2436. 22 Received 30 Arrow 16x9 Panel Steel commercial doors at $785.00 each for Purchase Order No. 1246 from Spencer Industries, terms 2/10, n30. Purchase Invoice No. 2437 29 Ordered 12 Kat 16x9 Ribbed Steel commercial doors at $995.00 each on account from Spencer Industries, terms 2/10, n.30. Purchase Order No. 1249 Step 5: Enter the cash payment transactions. Dec. 02 Paid cash for heating and lighting expense, $337.82. Check No. 6852. 05 Paid cash for telephone bill, S602.36. Check No. 6853. 11 Paid cash on account to Henderson Company, $29,884.98, no discount. Check No. 6854 19 Paid cash on account to Delaney Manufacturing, S 13,545.00. less 2% discount for residential merchandise, $270.90. Check No. 6855. 21 Paid cash for advertising, $3,000.00. Check No. 6856. 27 Paid cash on account to Spencer Industries, $23.550.00, less 2% discount for oo ercial merchandise, $471.00. Check No. 6857 30 Paid cash for monthly salary expense, $10,487.00. Check No. 6858. 30 Paid cash for monthly rent, $2,500.00. Check No. 6859 31 Paid cash for sales tax liability, S224.30. Check No. 6860 Step 6: Enter the sales invoice transactions Dec. 02 Sold 8 Premium 16x7 Wood residential doors at $1,150.00 each, and 5 Arrow 22x10 Panel Steel commercial doors at $2,195.00 to PK Builder Supply Co., terms 2/10, n/30, no sales tax, Sales Invoice No. 5437 04 Granted credit to Currie Builders, Inc. for 1 returned Std. 16x7 Non Ins Panel residential door at $669.00, no sales tax, Sales Return No. R5371 05 Sold 5 Std. 16x7 Non Ins. Panel residential doors at $669.00 each, 7 Pro 22x10 Sheet Metal commercial doors at $1,789.00 each, and 2 Kat 16x9 Ribbed Steel commercial doors at $1,995.00 each to Preston Construction, terms 2/10, n/30, no sales tax, Sales Invoice No. 5438 09 Granted credit to Renner Garage Doors for 1 returned Pro 16x9 Sheet Metal commercial door at $1,250.00, no sales tax, Sales Return No. R5388 15 Sold 6 Premium 16x7 Panel residential doors at $925.00 each, and 15 Std. 9x7 Ins Panel residential doors at $445.00 each to Schomer Construction, terms 30 days, no sales tax Sales Invoice No. 5439 20 Sold 12 Arrow 16x9 Panel Steel commercial doors at $1,569.00 each to Atwood Building Center, terms 2/10, n/30, no sales tax, Sales Invoice No. 5440 30 Sold 7 Premium 16x7 Panel residential doors at $925.00 each, 4 Std. 97 Non Ins. Panel residential doors at $379.00 each, and 10 Std. 16x7 Non Ins. Panel residential doors at $669.00 each to Frentz Remodeling Co., terms 30 days, no sales tax, Sales Invoice No. 5441 Step 7: Enter the cash receipt transactions Dec. 06 Received cash on account from Currie Builders, Inc., covering Sales Invoice No. 5371 for $26,004.72; no discount. 07 Received cash on account from Atwood Building Center, covering Sales Invoice No. 5368 for $9,202.83; no discount. 09 Received cash on account from Dobson Contractors, Inc., covering Sales Invoice No. 5377 for $13,945.97; no discount. 10 Received cash on account from Owens Building Supplies, covering Sales Invoice No. 5370 for $10,199.82; no discount. 14 Received cash on account from PK Builder Supply Co., covering Sales Invoice No. 5437 for $20,175.00; less 2% discount for residential merchandise, $184.00; less 2% discount for commercial merchandise, $219.50 21 Received cash on account from Preston Construction, covering Sales Invoice No. 5438 for $19,858.00; less 2% discount for residential merchandise, $317.36, less 2% discount for commercial merchandise, $79.80 28 Received cash on account from Schomer Construction, covering Sales Invoice No. 5439 for $12,225.00; less 2% discount for residential merchandise, $244.50 30 Received cash on account from Atwood Building Center, covering Sales Invoice No. 5440 foir 30 Received cash on account from Atwood Building Center, covering Sales Invoice No. 5440 for $18,828.00; less 2% discount for commercial merchandise, $376.56 Step 8: Display the purchase order, purchase invoice, and sales invoice registers for the month of December Step 9: Display the Inventory List report. Step 10: Display the Inventory Transactions report for the month of December Step 11: Display the Inventory Valuation (Average Cost) report. Step 12: Display the General, Purchases, Cash Payments, Sales, and Cash Receipts Journal reports for the month of December. Step 13: Display the trial balance Step 14: Display the schedule of accounts payable Step 15: Display the schedule of accounts receivable End of-Month Activities After the monthly transactions have been processed, the adjusting entries must be entered into the general journal. The financial statements may then be displayed. Use the following adjustment data for the month of December for Gomez Garage Door Co. and the trial balance report prepared in Step 13 as the basis for preparing the adjusting entries Merchandise inventories on December 31 $158,938.00 Residential $178,000.00 Commercial $150.00 Insurance expired during December Inventories of supplies on December 31 $525.00 Depreciation for December Automobiles $487.62 Office equipment $139.25 Office equipment $139.25 $168.92 Warehouse equipment Uncollectible accounts expense increase $225.00 $147.30 Interest receivable $174.82 Accrued interest expense $979.13 Salaries payable Additional income tax owed $1,200.00 Step 1: Enter the adjusting entries in the general journal. Enter a reference of Adj.Ent. in the Reference text box. Step 2: Display the adjusting entries Step 3: Display the gross profit statements Step 4: Display the income statement. Step 5: Display the retained earnings statement. Step 6: Display the balance sheet Step 7: Display the income statement (horizontal analysis) Step 8: Display the income statement (vertical analysis) Step 9: Display the balance sheet (horizontal analysis) Step 10: Display the balance sheet (vertical analysis) Step 11: Save your data with a file name of C-3BC Your Name (where C-3 identifies the problem, and BC represents Before Closing) Step 12: Complete the Audit Questions for Comprehensive Problem 03 on pages 471-473 Display reports as necessary to answer the questions Step 13: Generate and post the closing journal entries Step 14: Display the closing entries Step 15: Display the post-closing trial balance Step 16: Save your data with a file name of C-3AC Your Name (where C-3 identifies the problem, and AC represents After Closing